The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd

Diamond, Peter (Born 1940)

  • Nicholas Barr
Reference work entry


Peter Diamond has made fundamental contributions to economic theory over a wide range of areas including search theory and its implications for unemployment (for which he was awarded the Nobel Memorial Prize), optimal taxation, which he pioneered with James Mirrlees, incomplete markets and their implications inter alia for the design of social insurance, and the role of government debt in fostering intergenerational efficiency. For most of his career, he has also been active in policy analysis, notably pensions.


Behavioural economics DMP model Duality theory Frictions Incomplete markets Matching McFadden Mirrlees National debt Optimal taxation Overlapping generations Pensions Ramsey rule Samuelson Solow Search theory Social security Use of models 

JEL Classifications

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© Macmillan Publishers Ltd. 2018

Authors and Affiliations

  • Nicholas Barr
    • 1
  1. 1.