Dr. Christopher Antoniou Pissarides

Christopher Antoniou Pissarides, born in 1943, is a Cypriot economist and professor at the London School of Economics. His research has focused on macroeconomics, with particular emphasis on job search frictions and their impact on unemployment. In 2010, he was awarded the Nobel Prize in Economics alongside Peter A. Diamond and Dale T. Mortensen for his contributions to the analysis of markets with search frictions.

Pissarides’ research has been instrumental in developing the theory of job search and matching in the labor market. His work has examined the relationship between employment and macroeconomics, helping to understand how vacancies are created and filled. One of his major contributions has been the development of the matching function, a model that describes the flows between unemployment and employment at a given time, supported by empirical studies.

Along with Mortensen, he published the influential paper “Job Creation and Job Destruction in the Theory of Unemployment” in 1994 in the Review of Economic Studies. This work consolidated years of research and established the Mortensen-Pissarides model, which has been crucial for modern macroeconomics. His model includes a matching function based on Nash bargaining analysis, explaining how workers find employment based on available job vacancies.