Dermend And Others Won The Nobel Prize In Economics Three.

The following is the Nobel prize in economics. Statement of statement :

Moderator: Good afternoon, everyone. Welcome to this press conference. Today we will announce the winner of the Nobel prize in economics.

The winner of this year's Nobel prize in economics is that the Royal Swedish Academy of Sciences has decided to award this year's award to Professor Diamond, Dale. T NORTENSEN, Northweaten University, London School of Economics and Political Science professor Christopher A. Pissarides, and their analysis of the market has enabled them to get this option. Next, we will introduce the main theoretical results. Most of the transactions in the market are carried out for trade. Of course, there will be some trade frictions. It is difficult for buyers to get the products they want to buy, and sellers can hardly find consumers. In the labor market, many companies also find that there are many job vacancies, and some unemployed people can not find suitable jobs. Peter Diamond and others have developed theories that explain such conflicts in the market. Their theories are based on microeconomic theory, that is, the reasonable output of the market. Their work means hiring workers to be more reasonable, and providing reasonable mechanisms for recruitment and demand work. Diamond's theory has become a leading theoretical system, that is, for the labor market, it is very helpful to solve various policy problems. But his theory can be applied to other fields outside the labor market, and can be applied to the whole real estate market in economics and family economics. This year's winners, their theories have greatly improved the relevant market theory. {page_break}

More detailed introduction to theory. This conflict of search refers to the time and energy required between buyers and sellers to demand each other, which is crucial, especially without standardized products and services. The most important example is the labor market, because the types of labor are different. Therefore, workers should find suitable jobs, and employers should find suitable employees. How does this work in the market? Because it faces a conflict of search. In the early stage of market research, in traditional theoretical analysis, there is no conflict of seeking each other in the market. The traditional market theory holds that price adjustment can change the balance between supply and demand, and in the labor market, things are not so simple. In the market, there are both unemployed and some lack of staff.

This picture can reveal the wide range of jobs in the United States and the proportional relationship with the unemployed. For example, in 2000, the unemployment rate was 4%, and the job vacancy rate was 4%. In the next ten years, the unemployment rate was also increasing rapidly. The vacancy rate is decreasing. How to explain these? Our winners' research has solved these problems. The first is the role of price and the quality of labourers. Second, whether the government's intervention policy can make the market more effective. If we want to seriously understand what decides the unemployment rate, we need to look at the labour market policy. Diamond answered a general question. He analyzed the relationship between price and supply. In 1970s, he has shown that many small search costs can have a big impact.

His second question is whether the search market is effective. His answer is that the government has to do something about it, but usually this kind of search is not very efficient. Notenson also answers this ordinary question, but their main argument is a model of the labour market. They developed a DMP model, which explained how the unemployment rate came into being and how the vacancies were formed. We can use this model to analyze the data in the above pictures to understand how the unemployment rate and vacancies are formed. After understanding these theories, we can study the government's policies, for example, we can study the welfare policy of the government on unemployment rate. The government will provide benefits for the unemployed, and will provide corresponding policies and management.

The following is an interview with Christopher Disarides by the media:

Christopher Disarides: I am very happy and surprised to receive this award. I am so excited that it is hard to believe that I was awarded the Nobel prize in economics.

Moderator: please tell me, why are you interested in the theory in this field?

Christopher Pissarides: because the unemployment rate in Europe has started to rise since I started to study, so I know that this problem will affect the government's policy and will have greater social significance. If the society does not take measures, the unemployment rate will probably rise further, and economists can not put forward effective theory to deal with this phenomenon. So we are committed to developing a new theoretical model to solve this problem. And the new model does get results.

Host: what is the significance of this award to your individual and profession?

Christopher Pissarides: I am very honored to be able to win this award. For the professional field, this award will promote relevant research and development in this field, and will encourage more people to invest in related research.

Swedish Radio Television: how do you explain your own theory?

Christopher Pissarides: when we realize that the unemployment rate is a serious problem, many people are hard to work. This will change the whole economic environment, and they will change their job skills if they look for jobs again. Therefore, these processes will affect the whole society.

Dale Mortensen: if they find a suitable job, they will have to make a lot of efforts. In this process, effective policies can help them achieve this goal better. How can we ensure that these unemployed people can find better jobs, and they themselves can achieve this goal through various measures so that we can effectively cope with the unemployment rate and help more people find the right jobs? This is something my colleagues and I have been working on. Now the global economy is facing a downward trend.

Question: what changes do you think we should make to reduce the corresponding negative effects?

Christopher Pissarides: our theory is very relevant and helpful. Since 1970s, many changes have taken place in our situation. Partly because of this change, our theory has been following up the times. What we should do is to ensure that such a high unemployment rate can not last for too long. We have many expensive training programs at present, but we should study how to better improve the working skills of the whole workforce.

Question: how are you feeling now?

Christopher Pissarides: my mood can not be described in words. Even I think there will be some luck. I am very honored to be able to win this award. It's an honor for my university and my country.

Question: you will get many bonuses, how will you control these bonuses?

Christopher Pissarides: because the bonus will be paid after payment. I have not yet thought of how to spend.

Question: will you celebrate this evening?

Christopher Pissarides: of course I will celebrate, but there should be no large-scale celebrations.

Moderator: Thank you for accepting the cold and accepting our questions. I hope you can come to Stockholm to receive the award in December.

If there is no problem, we will conclude this press conference. In December 8th, we will hold the awarding ceremony. All the winners will come here to continue a lecture to receive the award. Thank you!