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What would be good textbooks at the graduate level that deal with Labor Economics and Labor-Macro (As in, Equilibrium Unemployment Theory, Shimer Puzzle etc)?

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@Everybody: please post one suggestion per answer so that we can vote on individual books. –  Ubiquitous Dec 5 at 7:46

5 Answers 5

There's also Labor Economics by Pierre Cahuc, Stéphane Carcillo, and André Zylberberg. It's a broader labor econ book, but The "Unemployment and Inequality" fourth of the book covers these topics. I have not seen the second edition, but I expect that they did not alter that part for the worse.

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To get us started, I will suggest

Pissarides: Equilibirum Unemployment Theory

Which deals with his Search&matching Equilibrium model of Labor Markets, and various extensions.

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I'm not sure if it's a good book, the author at least is very known in the macro community, but if you want a book on the New-Keynesian perspective on unemployment:

Jordí Galí's He tends to leave many details outside the book. You might like it.

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The NK perspective on unemployment: Workers are price setters, but also hit by the Calvo fairy. Hence, some of them don't adjust prices, and firms fire them. The contribution to labor markets themselves are rather small, but I guess the popularity of NK models makes this books a reasonable suggestion, perhaps not as the starting reference. –  FooBar Dec 5 at 16:53
    
The OP asked for graduate level expositions on the subject... –  An old man in the sea. Dec 5 at 17:01

To add another book,

Shimer: Labor Markets and Business Cycles

deals with the extent of which the RBC model and the Mortensen-Pissarides model can deal with the Shimer puzzle. He goes through many extensions and concludes that rigid wages are an exciting future research avenue.

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So the following is not a textbook, but it is a long and informative chapter on search-and-matching models from two experts in labor-macro:

Rogerson and Shimer, 2010: https://ideas.repec.org/p/nbr/nberwo/15901.html

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