Scientific review article
Autor: Svetlana Pantelić
JEL: A13, B31, C78, E24, J64
doi: 10.5937/bankarstvo1403128P

Summary: In 2010 the Nobel Prize in Economic Sciences was awarded to Dale Mortensen, born in 1939 in Oregon, USA. He majored in economics and mathematics, and defended his doctoral dissertation at Northwestern University. He was a researcher and professor for full 47 years, having authored numerous papers, either by himself or in cooperation with other scientists. In addition to Mortensen, the 2010 Nobel Prize was also awarded to Peter Diamond and Christopher Pissarides for their contribution to the analysis of markets with search frictions, especially when it comes to employment. They created the DMP model, named after the first letters of their last names. Today this is an analytical instrument most used for analyzing unemployment, formation of wages and job vacancies. This model can be used to assess the impact of various factors of the labor market on unemployment, wages and job vacancies.

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