Journal of Economic Perspectives: Vol. 11 No. 1 (Winter 1997)


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Theory Ahead of Language in the Economics of Unemployment

Article Citation

Rogerson, Richard. 1997. "Theory Ahead of Language in the Economics of Unemployment." Journal of Economic Perspectives, 11(1): 73-92.

DOI: 10.1257/jep.11.1.73


This paper discusses, from the perspective of modern theories of unemployment, several unemployment concepts that have been used over the years. It argues that many of these concepts are of limited value and are dominated by a few simple concepts that are basic in the analysis of stochastic general equilibrium models.

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Rogerson, Richard (U MN)

JEL Classifications

E24: Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital


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