Unemployment, disequilibrium and the short run phillips curve: An econometric approach
构建了一个包含劳动需求与供给、工资和价格调整、交易方程以及失业与空缺关系的非均衡模型，用于分析劳动力市场。模型动态处理更精细，估计结果合理，对理解失业与通胀关系有参考价值。
Abstract The paper specifies a disequilibrium model for the aggregate labour market consisting of demand and supply functions for labour, an adjustment equation for wages as well as for prices, a transactions equation and, finally, an equation that relates measured unemployment to vacancies and to excess demand. The model has a more sophisticated treatment of dynamics than earlier disequilibrium models. The parameter estimates and the goodness‐of‐fit are satisfactory and the model's implications for the behaviour of several important variables are sensible. In particular, excess demand estimates computed in various ways are reasonable.