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THIS PAPER DEVELOPS A SIMPLE GENERAL EQUILIBRIUM MODEL WITH SEQUENTIAL SEARCH IN WHICH A NONDEGENERATE WAGE OFFER DISTRIBUTION IS ENDOGENOUSLY DETERMINED. THE AUTHORS 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 "PARTIALPARTIAL" 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.

ABSTRACTThis paper develops a model which embeds the Nash‐equilibrium version of McDonald and Solow's (1981) wage‐bargaining model into an otherwise standard static equilibrium macro model. Equilibrium unemployment is possible. Real shocks to demand result in pro‐cyclical employment and anti‐cyclical real wage movements while money shocks are neutral. This is in some contrast to the results obtained by McDonald and Solow.

Computable general equilibrium (CGE) models are widely used by governmental organizations and academic institutions to analyze the economy-wide effects of events such as climate change, tax policies and immigration. This book provides a practical, how-to guide to CGE models suitable for use at the undergraduate college level. Its introductory level distinguishes it from other available books and articles on CGE models. The book provides intuitive and graphical explanations of the economic theory that underlies a CGE model and includes many examples and hands-on modeling exercises. It may be used in courses on economics principles, microeconomics, macroeconomics, public finance, environmental economics and international trade and finance, because it shows students the role of theory in a realistic model of an economy. The book is also suitable for courses on general equilibrium models and research methods and for professionals interested in learning how to use CGE models

Es wird ein Gleichgewichtsmodell der Sucharbeitslosigkeit entwickelt mit dessen Hilfe die Auswirkungen der Zahlung von Arbeitslosengeld auf die Sucharbeitslosigkeit analysiert werden. (IAB)

This book provides an accessible, undergraduate-level introduction to computable general equilibrium (CGE) models, a class of model that has come to play an important role in government policy decisions. The book uses a graphical approach to explain the economic theory that underlies a CGE model, and provides results from simple, small-scale CGE models to illustrate the links between theory and model outcomes. The book includes eleven guided, hands-on exercises that introduce modeling techniques that are applied to real-world economic problems. Students will learn how to integrate their separate fields of economic study into a comprehensive, general equilibrium perspective as they develop their skills as producers or consumers of CGE-based analysis

"This chapter introduces students to computable general equilibrium (CGE) models, a class of economic model that describes an economy as a whole and the interactions among its parts. The basic structure of a CGE model and its database are described. We introduce a "standard" CGE model and provide a survey of CGE model applications."