Abstract
Regional labour market conditions depend in a complex manner on the decisions of individuals on the supply side and firms on the demand side of the market. Changes in social and technological conditions have a profound impact on the structure and mechanism of these labour markets. The individuals must decide whether to quit or retain their present jobs, to search for new employment, perhaps in another region, and/or to search for a new residential location which increases their utility. Firms must set desired employment levels and determine the number of job opportunities in the different regions, taking into account the market conditions. This highly complex interactions between the labour market and the housing market require an adequate explanation of the nature of the decisions made by the different decision makers. The theory of job search (Rogerson 1983, Lippman and McCall 1976) and residential search (Clark 1983) is concerned with optimal behaviour of individuals who want to maximise their utility. Optimal policies for firms is concerned with maximising profits (Mortensen 1970, Eaton and Watts 1977).
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Haag, G. (1986). A Stochastic Theory for Residential and Labour Mobility Including Travel Networks. In: Nijkamp, P. (eds) Technological Change, Employment and Spatial Dynamics. Lecture Notes in Economics and Mathematical Systems, vol 270. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-46578-9_18
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DOI: https://doi.org/10.1007/978-3-642-46578-9_18
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