The Network Composition of Aggregate Unemployment

We develop a theory of unemployment in which workers search for jobs through a network of firms, the labor flow network (LFN). The lack of an edge between two companies indicates the impossibility of labor flows between them due to high frictions. In equilibrium, firms' hiring behavior correlates through the network, modulating labor flows and generating aggregate unemployment. This theory provides new micro-foundations for the aggregate matching function, the Beveridge curve, wage dispersion, and the employer-size premium. Using employer-employee matched records, we study the effect of the LFN topology through a new concept: `firm-specific unemployment'

THERMODYNAMIC PROPERTIES OF γ\gamma--FLUIDS AND THE QUANTUM VACCUM

The thermodynamic behaviour of a relativistic perfect simple fluid obeying the equation of state $p=(\gamma-1)\rho$, where $0 \le \gamma \le 2$ is a constant, has been investigated. Particular cases include: vacuum($p=-\rho$, $\gamma=0$), a randomly oriented distribution of cosmic strings ($p=-{1 \over 3} \rho$, $\gamma =2/3$), blackbody radiation ($p={1\over 3} \rho$, $\gamma =4/3$) and stiff matter ($p=\rho$, $\gamma=2$). Fluids with $\gamma <1$ become hotter when they expand adiabatically ($T\propto V^{1- \gamma}$). By assuming that such fluids may be regarded as a kind of generalized radiation, the general Planck's type form of the spectrum is deduced. As a limiting case, a new Lorentz invariant spectrum of the vacuum which is compatible with the equation of state and other thermodynamic constraints is proposed. Some possible consequences to the early universe physics are also discussed.Comment: 20 pages, uses LATE