An Equilibrium Model of Search Unemployment
构建了一个包含序列搜索的一般均衡模型，内生决定工资分布，并分析失业补偿增加对失业率和总福利的比较静态效应，结果与标准局部均衡模型显著不同。
This paper develops a simple general equilibrium model with sequential search in which a nondegenerate wage offer distribution is endogenously determined. We use this model to analyze the comparative statics effects of increases in unemployment compensation on the unemployment rate and aggregate welfare taking into account the induced change in the wage offer distribution. Our results differ significantly from the predictions of the standard "partial-partial" model. For example, one can expect a selective increase in unemployment compensation, made available to those who impute a relatively low value to leisure, to decrease the equilibrium rate of unemployment.