• Equilibrium Unemployment Theory Pissarides Pdf Merger

Sir Christopher Antoniou PissaridesFBA (/ˌpɪsəˈriːdiːz/; Greek: Χριστόφορος Αντωνίου Πισσαρίδης; born 20 February 1948^[1]) is a British-Cyprioteconomist. He is the School Professor of Economics & Political Science and Regius Professor of Economics at the London School of Economics, and Professor of European Studies at the University of Cyprus. His research focuses on topics of macroeconomics, notably labour, economic growth, and economic policy. In 2010, he was awarded the Nobel Prize in Economics, jointly with Peter A. Diamond and Dale Mortensen, 'for their analysis of markets with theory of search frictions.'^[4]

Early life[edit]

Market tightness and unemployment rate. This equilibrium or “natural” rate of unemployment is important for labor market policy analysis, and the clean structure of the DMP model has made it possible to incorporate labor market search frictions into macroeconomic analysis. The history of the Diamond-Mortensen-Pissarides model is difficult to. Equilibrium models of labor markets characterized by search and recruiting friction and by the need to reallocate workers from time to time across alternative productive activities represent the segment of the research fi'ontier explored in this chapter.

Pissarides was born in Nicosia, Cyprus,^[5] into a Greek Orthodox family from the village of Agros.^[6]

Pissarides was educated at the Pancyprian Gymnasium in Nicosia.^[6] He received his BA in Economics in 1970 and his MA in Economics in 1971 at the University of Essex. He subsequently enrolled in the London School of Economics, where he received his PhD in Economics in 1973 under the supervision of the mathematical economist Michio Morishima for a thesis titled 'Individual behaviour in markets with imperfect information.'^[7]

Career[edit]

Equilibrium Unemployment Theory Pissarides Pdf Merger

Pissarides is Regius Professor of Economics at the London School of Economics, where he has been since 1976.^[8] He is chairman of the Centre for Macroeconomics, which deploys economists from the University of Cambridge, the London School of Economics, the University College London, the Bank of England, and the National Institute of Economic and Social Research.^[9]

He has held a lectureship at the University of Southampton (1974–76), and visiting professorships at Harvard University (1979–80) and the University of California, Berkeley (1990–91).^[5]

He served as the chairman of the National Economy Council of the Republic of Cyprus during the country's financial crisis in 2012 and resigned to focus on his academic work at the end of 2014. In 2018, in collaboration with Naomi Climer and Anna Thomas, he set up the charity Institute for the Future of Work in London, to promote the establishment of good jobs in the era of automation and artificial intelligence.^[10]

Academic contributions[edit]

Pissarides is mostly known for his contributions to the search and matching theory for studying the interactions between the labour market and the macro economy. He helped develop the concept of the matching function (explaining the flows from unemployment to employment at a given moment of time), and pioneered the empirical work on its estimation. Pissarides has also done research on structural change and growth.

Pissarides' most influential paper is arguably 'Job Creation and Job Destruction in the Theory of Unemployment' (with Dale Mortensen), published in the Review of Economic Studies in 1994.^[11] This paper built on the previous individual contributions that both authors had made in the previous two decades.

The Mortensen–Pissarides model that resulted from this paper has been exceptionally influential in modern macroeconomics. In one or another of its extensions or variations, today it is part of the core of most graduate economics curricula throughout the world.

Pissarides' book Equilibrium Unemployment Theory, a standard reference in the literature of the macroeconomics of unemployment, is now in its second edition, and was revised after Pissarides' joint work with Mortensen, resulting in the analysis of both endogenous job creation and destruction.

Awards and honours[edit]

• Fellow of the Econometric Society, 1997^[7]
• Fellow of the British Academy, 2002^[7]
• Fellow of the European Economic Association, 2005
• IZA Prize in Labor Economics, jointly with Dale Mortensen, 2005^[12]
• Foreign Honorary Member of the American Economic Association, 2011
• Vice-President of the European Economic Association, President in 2011
• Nobel Prize in Economics in 2010, jointly with Dale Mortensen, Peter A. Diamond,^[13] for 'analysis of markets with search frictions'^[13][14]
• The College Historical Society of Trinity College Dublin awarded Pissarides its Gold Medal for Outstanding Contribution to Public Discourse in 2012
• In 2013, Knighted in the year's Birthday Honours for 'services to economics.'^[15]
• Member of the Academy of Athens, 2015^[16]

Selected works[edit]

• Pissarides, C. A. (1979). 'Job Matchings with State Employment Agencies and Random Search'. Economic Journal. 89 (356): 818–833. doi:10.2307/2231501. JSTOR2231501.
• Pissarides, Christopher A. (1985). 'Short-Run Equilibrium Dynamics of Unemployment, Vacancies, and Real Wages'. American Economic Review. 75 (4): 676–690. JSTOR1821347.
• Pissarides, Christopher; Layard, Richard; Hellwig, Martin (1986). 'Unemployment and Vacancies in Britain'. Economic Policy. 1 (3): 499–559. doi:10.2307/1344583. JSTOR1344583.
• Mortensen, D. T.; Pissarides, C. A. (1994). (with Dale Mortensen). 'Job Creation and Job Destruction in the Theory of Unemployment'. Review of Economic Studies. 61 (3): 397–415. doi:10.2307/2297896. JSTOR2297896.
• Equilibrium Unemployment Theory (Second ed.). Cambridge, MA: MIT Press. 2000. ISBN978-0-262-16187-9.Description and chapter-preview links.
• Ngai, L. Rachel; Pissarides, Christopher A. (2007). (with L. Rachel Ngai). 'Structural Change in a Multi-Sector Model of Growth'(PDF). American Economic Review. 97 (1): 429–443. doi:10.1257/aer.97.1.429. JSTOR30034402. Archived from the original(PDF) on 17 July 2012.

References[edit]

1. ^ ^abProf Christopher PissaridesArchived 14 October 2010 at the Wayback Machine at debretts.com
2. ^'Christophoros Pissarides won the 2010 Nobel Prize in Economic Sciences'. Archived from the original on 12 May 2013. Retrieved 28 February 2018.
3. ^designquest.com.hk. 'Christopher Pissarides - People - HKUST Institute for Emerging Market Studies'. iems.ust.hk. Retrieved 18 June 2019.
4. ^The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2010 : Peter A. Diamond, Dale T. Mortensen, Christopher A. Pissarides, Noberl Prize Organization website
5. ^ ^ab'Christopher A. Pissarides: Facts'. Nobel Prize Organization website. Retrieved 11 October 2010.
6. ^ ^ab'Christopher Pissarides] autobiography, Nobel Prizes Organization website'(PDF). nobelprize.org. Retrieved 18 June 2019.
7. ^ ^abc'Christopher A. Pissarides CV'(PDF). London School of Economics. Archived from the original(PDF) on 3 December 2013. Retrieved 28 February 2018.
8. ^'News'. Salome.lse.ac.uk. 14 June 2007. Archived from the original on 15 July 2012. Retrieved 11 October 2010.
9. ^'New Centre for Macroeconomics launched at LSE', LSE website, 16 January 2013
10. ^'Institute for the Future of Work'. Institute for the Future of Work. Retrieved 18 June 2019.
11. ^Mortensen, Dale T.; Pissarides, Christopher A. (1994). 'Job Creation and Job Destruction in the Theory of Unemployment'(PDF). Review of Economic Studies. 61 (3): 397–415. doi:10.2307/2297896. JSTOR2297896.
12. ^IZA (12 August 2010). 'Prize'. IZA. Retrieved 11 October 2010.
13. ^ ^ab'The Prize in Economic Sciences 2010'. Nobelprize.org. Retrieved 11 October 2010.
14. ^'3 Share Nobel Economics Prize for Market Analysis'. The New York Times. 12 October 2010. Retrieved 12 October 2010.
15. ^'No. 60534'. The London Gazette (Supplement). 15 June 2013. p. 2.
16. ^'Εκλογή του καθηγητή κ. Χριστόφορου Πισσαρίδη, κατόχου βραβείου Νόμπελ Οικονομικής Επιστήμης, ως Τακτικού Μέλους της Ακαδημίας Αθηνών' [Election of Prof. Christopher Pissarides, holder of the Nobel Prize in Economics, as member of the Academy of Athens]. Academy of Athens. 6 November 2015. Archived from the original on 27 December 2015. Retrieved 28 February 2018.

External links[edit]

• Christopher A Pissarides personal page at London School of Economics
• Christopher Pissarides' personal website
• 'Equilibrium in the Labour Market with Search Frictions', Nobel Prize lecture, 2010
• Profile and Papers at Research Papers in Economics/RePEc
• Christopher Pissarides commemorative postage stamp issued from the Cyprus Post Office, 8 June 2011