1. Copyright © 2002 Pearson Education, Inc. Slide 1

2. Copyright © 2002 Pearson Education, Inc. Slide 2 Unemployment: Search and Efficiency Wages Chapter 15

3. Copyright © 2002 Pearson Education, Inc. Slide 3 Figure 15-1 The U.S. Unemployment Rate, 1948-1999

4. Copyright © 2002 Pearson Education, Inc. Slide 4 Figure 15-2 Deviations from Trend in the Unemployment Rate, and Percentage Deviations from Trend in Real GDP for 1948-1999

5. Copyright © 2002 Pearson Education, Inc. Slide 5 Figure 15-3 The U.S. Participation Rate, 1948-1999

6. Copyright © 2002 Pearson Education, Inc. Slide 6 Figure 15-4 Labor Force Participation of Women and Men

7. Copyright © 2002 Pearson Education, Inc. Slide 7 Figure 15-5 Deviations from Trend in Labor Force and GDP

8. Copyright © 2002 Pearson Education, Inc. Slide 8 Table 15-1

9. Copyright © 2002 Pearson Education, Inc. Slide 9 Figure 15-6 The Welfare of an Employed Worker

10. Copyright © 2002 Pearson Education, Inc. Slide 10 Figure 15-7 The Reservation Wage

11. Copyright © 2002 Pearson Education, Inc. Slide 11 Figure 15-8 An Increase in the Unemployment Insurance Benefit b

12. Copyright © 2002 Pearson Education, Inc. Slide 12 Figure 15-9 An Increase in the Taxes on the Wage Income of the Employed

13. Copyright © 2002 Pearson Education, Inc. Slide 13 Figure 15-10 The Fraction of Unemployed Workers Receiving a Wage Offer Greater than w

14. Copyright © 2002 Pearson Education, Inc. Slide 14 Figure 15-11 The Determination of the Unemployment Rate U* in the Search Model

15. Copyright © 2002 Pearson Education, Inc. Slide 15 Figure 15-12 The Determination of the Reservation Wage and the Unemployment Rate in the Search Model

16. Copyright © 2002 Pearson Education, Inc. Slide 16 Figure 15-13 An Increase in the Unemployment Insurance Benefit b

17. Copyright © 2002 Pearson Education, Inc. Slide 17 Figure 15-14 An Increase in the Job Offer Rate p

18. Copyright © 2002 Pearson Education, Inc. Slide 18 Figure 15-15 An Increase in Taxes on Labor Income

19. Copyright © 2002 Pearson Education, Inc. Slide 19 Figure 15-16 Taxes on Labor Income and Unemployment Benefits

20. Copyright © 2002 Pearson Education, Inc. Slide 20 Figure 15-17 Effort of the Worker as a Function of His or Her Wage

21. Copyright © 2002 Pearson Education, Inc. Slide 21 Figure 15-18 The Demand for Labor in the Efficiency Wage Model

22. Copyright © 2002 Pearson Education, Inc. Slide 22 Figure 15-19 The Ratio of Effort to the Real Wage

23. Copyright © 2002 Pearson Education, Inc. Slide 23 Figure 15-20 Determination of the Efficiency Wage

24. Copyright © 2002 Pearson Education, Inc. Slide 24 Figure 15-21 Unemployment in the Efficiency Wage Model

25. Copyright © 2002 Pearson Education, Inc. Slide 25 Figure 15-22 The Output Supply Curve in the Efficiency Wage Model

26. Copyright © 2002 Pearson Education, Inc. Slide 26 Figure 15-23 An Increase in G in the Efficiency Wage Model

27. Copyright © 2002 Pearson Education, Inc. Slide 27 Figure 15-24 An Increase in Total Factor Productivity in the Efficiency Wage Model

28. Copyright © 2002 Pearson Education, Inc. Slide 28 Figure 15-25 An Increase in the Effectiveness of Monitoring by the Firm