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# 数学代写|宏观经济学作业代写Macroeconomics代考|The Unemployment Rate

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## 宏观经济学作业代写Macroeconomics代考|The Unemployment Rate

Statistical agencies like Statistics Canada and the Bureau of Labor Statistics classify every working age person into one of three categories: employed, unemployed, or not in the labour force. The conventional definition of unemployed is not working, but actively looking for work. The labour force is defined as the number of employed people, $E$, plus the number of unemployed people, $U$. The unemployment rate is then defined as the number of unemployed

people as a fraction of the labour force:
$$\text { unemployment rate }=\frac{U}{E+U} \equiv u \text {. }$$
Figure $1.1$ plots the unemployment rate in the U.S. from 1948 to 2015 . Note that the unemployment rate never falls to zero and that there is a considerable amount of cyclical volatility.

As macroeconomists, we are motivated to understand unemployment, and labour market dynamics more generally. Unfortunately, there is no counterpart to the concept of actively looking for work in our competitive equilibrium macroeconomic models. Consequently, these building block macro models predict zero equilibrium unemployment. To align the theory and the data, we need a theoretical framework that predicts equilibrium unemployment. With an appropriate model of unemployment, we could try to explain how it is correlated with other key macroeconomic aggregates, and evaluate the efficacy of labour market policies like employment insurance (EI).

## 宏观经济学作业代写MACROECONOMICS代考|Search Theory

This module will cover a model of the labour market that features search frictions. In general, engaging in economic transactions takes time and effort. This is certainly true in the labour market. It takes time and effort for an unemployed worker to find a suitable job with a firm that is willing to hire them. A class of models collectively known as search theory endeavours to explicitly incorporate this time-consuming search process in the modelling framework. While the labour market was the initial application of search theory for the purpose of studying unemployment, applications of search theory appear in other sub-fields of economics as well, including monetary economies, financial markets, housing markets, and even so-called “marriage markets.”

The next chapter provides a quick review of a few concepts and results from probability theory that will become useful later on in this module. We will then study a one-sided search model that focuses on the job search problem of an unemployed worker. It’s called “one-sided” because only the supply side of the labour market is considered. The behaviour of firms is simply modelled as an exogenous arrival of job offers that the unemployed worker can either accept or reject. We will use the model for studying movements in the equilibrium unemployment rate.

失业率 =ü和+ü≡你.