Abstract
This study is concerned with unemployment, job vacancies, and worker queues in equilibrium. Vacancies are defined as the difference between the number of jobs available in the economy and the current level of employment. Unemployment is, by definition, the sum of the number actively searching for employment and the number waiting to begin employment. A queue of workers, then, is one component of unemployment. To study unemployment, vacancies, and queues in equilibrium, it is necessary to examine the determinants of the number of jobs, employment, and queues. Subsidiary points for examination are: What is equilibrium and how does labor move through the market? The number of jobs and the level of employment are determined by individual firms and then aggregated over firms. But how do firms determine the number of jobs and the level of employment? The micro-foundations of the labor market are required prior to a study of aggregate phenomenon. The main part of this study is concerned with the micro-foundations of the labor market. Its purpose is flour-fold: to present, develop, and analyze those foundations; to describe the process of labor flows; to develop statements for employment, vacancies, and queue lengths that will later be expanded to the economy; to describe how firms, in equilibrium, determine wages, job size, and the level of employment..
Paczkowski, Walter Richard (1977). Job search, vacancies, and stochastic labor flows : a queueing theory of the labor market. Texas A&M University. Texas A&M University. Libraries. Available electronically from
https : / /hdl .handle .net /1969 .1 /DISSERTATIONS -620453.