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Christopher A. Pissarides

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Sir Christopher Pissarides
Born (1948-02-20) 20 February 1948 (age 76)[3]
Nicosia, Cyprus
NationalityCypriot
CitizenshipCypriot, British
Academic career
FieldLabour economics
InstitutionLondon School of Economics 1976–present
University of Southampton 1974–76
University of Cyprus 2011–present[1]
Hong Kong University of Science and Technology 2013–present[2]
Alma materLondon School of Economics
University of Essex
Doctoral
advisor		Michio Morishima
InfluencesDale Mortensen
ContributionsMacroeconomic search and matching theories of unemployment,
matching function,
structural growth
AwardsIZA Prize in Labor Economics (2006)
Nobel Memorial Prize in Economic Sciences
(2010)
Information at IDEAS / RePEc

Sir Christopher Antoniou Pissarides FBA (/ˌpɪsəˈriːdiːz/; Greek: Χριστόφορος Αντωνίου Πισσαρίδης; born 20 February 1948[3]) is a Cypriot economist. He is the School Professor of Economics & Political Science and Regius Professor of Economics at the London School of Economics, and Professor of European Studies at the University of Cyprus. His research focuses on topics of macroeconomics, notably labour, economic growth, and economic policy. In 2010, he was awarded the Nobel Prize in Economics, jointly with Peter A. Diamond and Dale Mortensen, "for their analysis of markets with theory of search frictions."[4]

Early life

Pissarides was born in Nicosia, Cyprus,[5] into a Greek Orthodox family from the village of Agros.[6]

Pissarides was educated at the Pancyprian Gymnasium in Nicosia.[6] He earned bachelor's and master's degrees in economics from the University of Essex in 1970 and 1971, and a PhD in economics from the London School of Economics in 1973, under the supervision of the mathematical economist Michio Morishima for a thesis entitled "Individual behaviour in markets with imperfect information."[7]

Career

Pissarides is Regius Professor of Economics at the London School of Economics, where he has been since 1976.[8] He is chairman of the Centre for Macroeconomics, which deploys economists from the University of Cambridge, the London School of Economics, the University College London, the Bank of England, and the National Institute of Economic and Social Research.[9]

He has held a lectureship at the University of Southampton (1974–76), and visiting professorships at Harvard University (1979–80) and the University of California, Berkeley (1990–91).[5]

He served as the chairman of the National Economy Council of the Republic of Cyprus during the country's financial crisis in 2012 and resigned to focus on his academic work at the end of 2014. In 2018, in collaboration with Naomi Climer and Anna Thomas, he set up the charity Institute for the Future of Work in London, to promote the establishment of good jobs in the era of automation and artificial intelligence.[10] On February 2020 Greek prime minister Kyriakos Mitsotakis picked Pissarides to chair a committee tasked with drafting a long-term growth strategy for the country.[11] From September 2020 he is chairman of the economic council of EuroAfrica Interconnector.[12]

Academic contributions

Pissarides is mostly known for his contributions to the search and matching theory for studying the interactions between the labour market and the macro economy. He helped develop the concept of the matching function (explaining the flows from unemployment to employment at a given moment of time), and pioneered the empirical work on its estimation. Pissarides has also done research on structural change and growth.

One of his most well- known papers is "Job Creation and Job Destruction in the Theory of Unemployment" (with Dale Mortensen), published in the Review of Economic Studies in 1994.[13] This paper built on the previous individual contributions that both authors had made in the previous two decades.

The Mortensen–Pissarides model that resulted from this paper has been exceptionally influential in modern macroeconomics. In one or another of its extensions or variations, today it is part of the core of most graduate economics curricula throughout the world.

Pissarides' book Equilibrium Unemployment Theory, a standard reference in the literature of the macroeconomics of unemployment, is now in its second edition, and was revised after Pissarides' joint work with Mortensen, resulting in the analysis of both endogenous job creation and destruction.

Awards and honours

Selected works

Nobel Prize laureates press conference at the KVA, 2010
  • Pissarides, C. A. (1979). "Job Matchings with State Employment Agencies and Random Search". Economic Journal. 89 (356): 818–833. doi:10.2307/2231501. JSTOR 2231501.
  • Pissarides, Christopher A. (1985). "Short-Run Equilibrium Dynamics of Unemployment, Vacancies, and Real Wages". American Economic Review. 75 (4): 676–690. JSTOR 1821347.
  • Pissarides, Christopher; Layard, Richard; Hellwig, Martin (1986). "Unemployment and Vacancies in Britain". Economic Policy. 1 (3): 499–559. doi:10.2307/1344583. JSTOR 1344583.
  • Mortensen, D. T.; Pissarides, C. A. (1994). "Job Creation and Job Destruction in the Theory of Unemployment". Review of Economic Studies. 61 (3). (with Dale Mortensen): 397–415. doi:10.2307/2297896. JSTOR 2297896.
  • Equilibrium Unemployment Theory (Second ed.). Cambridge, MA: MIT Press. 2000. ISBN 978-0-262-16187-9. Description and chapter-preview links.
  • Ngai, L. Rachel; Pissarides, Christopher A. (2007). "Structural Change in a Multi-Sector Model of Growth" (PDF). American Economic Review. 97 (1). (with L. Rachel Ngai): 429–443. doi:10.1257/aer.97.1.429. JSTOR 30034402. S2CID 14126725. Archived from the original (PDF) on 17 July 2012.

References

  1. ^ "Christophoros Pissarides won the 2010 Nobel Prize in Economic Sciences". Archived from the original on 12 May 2013. Retrieved 28 February 2018.
  2. ^ designquest.com.hk. "Christopher Pissarides - People - HKUST Institute for Emerging Market Studies". iems.ust.hk. Retrieved 18 June 2019.
  3. ^ a b Prof Christopher Pissarides Archived 14 October 2010 at the Wayback Machine at debretts.com
  4. ^ The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2010 : Peter A. Diamond, Dale T. Mortensen, Christopher A. Pissarides, Noberl Prize Organization website
  5. ^ a b "Christopher A. Pissarides: Facts". Nobel Prize Organization website. Retrieved 11 October 2010.
  6. ^ a b "Christopher Pissarides] autobiography, Nobel Prizes Organization website" (PDF). nobelprize.org. Retrieved 18 June 2019.
  7. ^ a b c "Christopher A. Pissarides CV" (PDF). London School of Economics. Archived from the original (PDF) on 3 December 2013. Retrieved 28 February 2018.
  8. ^ "News". Salome.lse.ac.uk. 14 June 2007. Archived from the original on 15 July 2012. Retrieved 11 October 2010.
  9. ^ "New Centre for Macroeconomics launched at LSE", LSE website, 16 January 2013
  10. ^ "Institute for the Future of Work". Institute for the Future of Work. Retrieved 18 June 2019.
  11. ^ "Greece names Nobel economics laureate to seek growth areas". Reuters. Retrieved 15 July 2020.
  12. ^ Nobel prize winner appointed chair of Egypt-Cyprus electricity project, Cyprus Mail 10.9.2020
  13. ^ Mortensen, Dale T.; Pissarides, Christopher A. (1994). "Job Creation and Job Destruction in the Theory of Unemployment" (PDF). Review of Economic Studies. 61 (3): 397–415. doi:10.2307/2297896. JSTOR 2297896.
  14. ^ IZA (12 August 2010). "Prize". IZA. Retrieved 11 October 2010.
  15. ^ a b "The Prize in Economic Sciences 2010". Nobelprize.org. Retrieved 11 October 2010.
  16. ^ "3 Share Nobel Economics Prize for Market Analysis". The New York Times. 12 October 2010. Retrieved 12 October 2010.
  17. ^ "No. 60534". The London Gazette (Supplement). 15 June 2013. p. 2.
  18. ^ "Εκλογή του καθηγητή κ. Χριστόφορου Πισσαρίδη, κατόχου βραβείου Νόμπελ Οικονομικής Επιστήμης, ως Τακτικού Μέλους της Ακαδημίας Αθηνών" [Election of Prof. Christopher Pissarides, holder of the Nobel Prize in Economics, as member of the Academy of Athens]. Academy of Athens. 6 November 2015. Archived from the original on 27 December 2015. Retrieved 28 February 2018.
Awards
Preceded by Laureate of the Nobel Memorial Prize in Economics
2010
Served alongside: Peter A. Diamond, Dale T. Mortensen 		Succeeded by
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