Essays On Cyclical And Long Run Labor Market Behaviors
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Essays On Cyclical And Long Run Labor Market Behaviors
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Author : Dongpeng Liu
language : en
Publisher:
Release Date : 2014
Essays On Cyclical And Long Run Labor Market Behaviors written by Dongpeng Liu and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with Employment (Economic theory) categories.
The dissertation explores the inter-dependence between agents' educational choices and their labor market outcomes. This individual level of inter-relationship is aggregated under a search and matching framework to analyze the cyclical and long-run labor market behaviors. The dissertation argues that the high volatility of labor market can be attributed to complementarity between high-skill and low-skill workers, as well as the economies of scale of job training for high-skill labor. Then, the dissertation combines a search and matching model with a signaling game to explain agents' educational choices and the unemployment rate gap between educated and uneducated workers. It also discusses some indirect effects of education and labor market policies. The effect of skill-biased technological change is scrutinized as well. An extension of this model is then used to analyze the growing mismatch of skill in China.
Essays On The Cyclical Behavior Of Employment And Productivity
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Author : Jahangir Aziz
language : en
Publisher:
Release Date : 2003
Essays On The Cyclical Behavior Of Employment And Productivity written by Jahangir Aziz and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with categories.
Labor Markets In Action
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Author : Richard Barry Freeman
language : en
Publisher:
Release Date : 1989
Labor Markets In Action written by Richard Barry Freeman and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1989 with Business & Economics categories.
Leveling Peaks And Troughs
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Author : William Louis Wascher
language : en
Publisher:
Release Date : 1983
Leveling Peaks And Troughs written by William Louis Wascher and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1983 with categories.
Essays In The Theory Of Economic Fluctuations
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Author : M. Kalecki
language : en
Publisher: Routledge
Release Date : 2013-10-08
Essays In The Theory Of Economic Fluctuations written by M. Kalecki and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-10-08 with Business & Economics categories.
These essays, though formally independent, nevertheless constitute a whole, each one preparing the way for the succeeding chapter.
The American Business Cycle
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Author : Robert J. Gordon
language : en
Publisher: University of Chicago Press
Release Date : 2007-11-01
The American Business Cycle written by Robert J. Gordon and has been published by University of Chicago Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-11-01 with Business & Economics categories.
In recent decades the American economy has experienced the worst peace-time inflation in its history and the highest unemployment rate since the Great Depression. These circumstances have prompted renewed interest in the concept of business cycles, which Joseph Schumpeter suggested are "like the beat of the heart, of the essence of the organism that displays them." In The American Business Cycle, some of the most prominent macroeconomics in the United States focuses on the questions, To what extent are business cycles propelled by external shocks? How have post-1946 cycles differed from earlier cycles? And, what are the major factors that contribute to business cycles? They extend their investigation in some areas as far back as 1875 to afford a deeper understanding of both economic history and the most recent economic fluctuations. Seven papers address specific aspects of economic activity: consumption, investment, inventory change, fiscal policy, monetary behavior, open economy, and the labor market. Five papers focus on aggregate economic activity. In a number of cases, the papers present findings that challenge widely accepted models and assumptions. In addition to its substantive findings, The American Business Cycle includes an appendix containing both the first published history of the NBER business-cycle dating chronology and many previously unpublished historical data series.
The Cyclical Behavior Of Industrial Labor Markets
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Author : Ben Bernanke
language : en
Publisher:
Release Date : 1984
The Cyclical Behavior Of Industrial Labor Markets written by Ben Bernanke and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1984 with Business cycles categories.
This paper studies the cyclical behavior of a number of industrial labor markets of the pre-war (1923-1939) and post-war (1954-1982) eras. In the spirit of Burns and Mitchell we do not test a specific structural model of the labor market but instead concentrate on describing the qualitative features of the (monthly, industry-level) data.The two principal questions we ask are: First, how is labor input (as measured by the number of workers, the hours of work, and the intensity of utilization) varied over the cycle ? Second, what is the cyclical behaviorof labor compensation (as measured by real wages, product wages, and real weekly earnings) ? We study these questions in both the frequency domain and the time domain. Many of our findings simply reinforce, or perhaps refine, existing perceptions of cyclical labor market behavior. However, we do find some interesting differences between the pre-war and the post-war periods in ther elative use of layoffs and short hours in downturns, and in the cyclical behavior of the real wage.
Mismatch Unemployment
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Author : Aysegul Sahin
language : en
Publisher:
Release Date : 2012
Mismatch Unemployment written by Aysegul Sahin and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012 with Economics categories.
We develop a framework where mismatch between vacancies and job seekers across sectors translates into higher unemployment by lowering the aggregate job-finding rate. We use this framework to measure the contribution of mismatch to the recent rise in U.S. unemployment by exploiting two sources of cross-sectional data on vacancies, JOLTS and HWOL, a new database covering the universe of online U.S. job advertisements. Mismatch across industries and occupations explains at most 1/3 of the total observed increase in the unemployment rate, whereas geographical mismatch plays no apparent role. The share of the rise in unemployment explained by occupational mismatch is increasing in the education level.
An Artificial Wicksell Keynes Macroeconomy
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Author : Ichiro Takahashi
language : en
Publisher: Springer Nature
Release Date : 2022-03-07
An Artificial Wicksell Keynes Macroeconomy written by Ichiro Takahashi and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-03-07 with Business & Economics categories.
This book presents an agent-based macroeconomic model developed on the Keynesian principle of effective demand and the Wicksellian theory of cumulative process. The main purpose of the book is to demystify inherent forces that revive an economy from a long-run downturn. The model has three types of bounded-rational agents: firm, household, and bank. To highlight the autonomous revival mechanisms, the model is assumed to be completely closed and free from any external influences such as changes in management of aggregate demand or supply/demand shocks. The key finding of the book is that diversity of firms is a crucial element in reviving investment activities. While a production sector is represented by a single firm in a conventional model, this model has introduced a large number of heterogeneous firms that confront diverse constraints both at the firm and aggregate levels. The behaviours of these firms may vary despite being exposed to the same aggregate environment. For example, economic downturns usually precipitate a fall in real wages as a response to decreased aggregate demand. Most firms reduce their employment focusing on the reduction in aggregate demand. However, some firms identify a reduction in real wage as a sign of improving profitability hence they may expand employment. This could result in an increased aggregate demand and benefit other firms with further employment. It could even reverse the trend to an upslope, thereby ultimately achieving full of near full employment. This book details further on: (1) the rigidity of prices and wages in a stable economy (2) the fundamental factors to establish a robust and high-performing economy, with the focus on the importance of a stable and equitable macroeconomic environment.
Labor Markets And Business Cycles
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Author : Robert Shimer
language : en
Publisher: Princeton University Press
Release Date : 2010-04-12
Labor Markets And Business Cycles written by Robert Shimer and has been published by Princeton University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-04-12 with Business & Economics categories.
Labor Markets and Business Cycles integrates search and matching theory with the neoclassical growth model to better understand labor market outcomes. Robert Shimer shows analytically and quantitatively that rigid wages are important for explaining the volatile behavior of the unemployment rate in business cycles. The book focuses on the labor wedge that arises when the marginal rate of substitution between consumption and leisure does not equal the marginal product of labor. According to competitive models of the labor market, the labor wedge should be constant and equal to the labor income tax rate. But in U.S. data, the wedge is strongly countercyclical, making it seem as if recessions are periods when workers are dissuaded from working and firms are dissuaded from hiring because of an increase in the labor income tax rate. When job searches are time consuming and wages are flexible, search frictions--the cost of a job search--act like labor adjustment costs, further exacerbating inconsistencies between the competitive model and data. The book shows that wage rigidities can reconcile the search model with the data, providing a quantitatively more accurate depiction of labor markets, consumption, and investment dynamics. Developing detailed search and matching models, Labor Markets and Business Cycles will be the main reference for those interested in the intersection of labor market dynamics and business cycle research.