Robert Shimer
Encyclopedia
Robert Shimer is an American macroeconomist
and labor economist
who currently holds the Alvin H. Baum Chair in the Economics Department of the University of Chicago
. He is an editor of the Journal of Political Economy
. His research focuses on the search and matching approach
to labor economics. He is especially known for arguing that the standard labor market matching model
predicts fluctuations in the unemployment rate much smaller than those actually observed over the business cycle, an observation which has sometimes been called the Shimer puzzle. His book Labor Markets and Business Cycles was published in 2010 by Princeton University Press, and was recommended by Robert Hall
:
Macroeconomics
Macroeconomics is a branch of economics dealing with the performance, structure, behavior, and decision-making of the whole economy. This includes a national, regional, or global economy...
and labor economist
Labour economics
Labor economics seeks to understand the functioning and dynamics of the market for labor. Labor markets function through the interaction of workers and employers...
who currently holds the Alvin H. Baum Chair in the Economics Department of the University of Chicago
University of Chicago
The University of Chicago is a private research university in Chicago, Illinois, USA. It was founded by the American Baptist Education Society with a donation from oil magnate and philanthropist John D. Rockefeller and incorporated in 1890...
. He is an editor of the Journal of Political Economy
Journal of Political Economy
The Journal of Political Economy is an academic journal run by economists at the University of Chicago and published every two months by the University of Chicago Press. The journal publishes articles in both theoretical economics and empirical economics...
. His research focuses on the search and matching approach
Matching theory (macroeconomics)
In macroeconomics, matching theory, also known as search and matching theory,is a mathematical framework attempting to describe the formation of mutually beneficial relationships over time. It offers a way of modeling markets in which frictions prevent instantaneous adjustment of the level of...
to labor economics. He is especially known for arguing that the standard labor market matching model
Matching theory (macroeconomics)
In macroeconomics, matching theory, also known as search and matching theory,is a mathematical framework attempting to describe the formation of mutually beneficial relationships over time. It offers a way of modeling markets in which frictions prevent instantaneous adjustment of the level of...
predicts fluctuations in the unemployment rate much smaller than those actually observed over the business cycle, an observation which has sometimes been called the Shimer puzzle. His book Labor Markets and Business Cycles was published in 2010 by Princeton University Press, and was recommended by Robert Hall
Robert Hall (economist)
Robert Ernest "Bob" Hall is an American economist and a Robert and Carole McNeil Senior Fellow at Stanford University's Hoover Institution. He is generally considered a macroeconomist, but he describes himself as an "applied economist"....
:
- Shimer's definitive account of the modern theory of labor market volatility presents many new results and deserves a prominent place on the bookshelf of every macroeconomist and labor economist.