Yeah, this is why wikipedia is not always the most trustworthy source.
I definitely studied these types of models in macro classes from Pissarides, one of the pioneers in the job search field. I think he'd be amused to learn that he had become a microeconomist.
Also, if you look at the example, it is taken directly out of Sargent's textbook: Recursive Macroeconomic Theory.
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Yeah, this is why wikipedia is not always the most trustworthy source.
I definitely studied these types of models in macro classes from Pissarides, one of the pioneers in the job search field. I think he'd be amused to learn that he had become a microeconomist.
Also, if you look at the example, it is taken directly out of Sargent's textbook: Recursive Macroeconomic Theory.