Essays On Labor Market Frictions And Worker Productivity
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Essays On Labor Market Frictions And Worker Productivity
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Author : David Wonyoung Jang
language : en
Publisher:
Release Date : 2023
Essays On Labor Market Frictions And Worker Productivity written by David Wonyoung Jang and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023 with categories.
My dissertation examines how labor market adjustment happens in times of economic downturns or policy changes. Chapter 1 analyzes how the contribution of intensive margin adjustments to the cyclical fluctuations in total hours worked has increased in the US since the 1980s. I document that the job tenure length has increased during this period and labor hours adjustments in recessions are more prominent in economies with higher job tenure lengths. I build a search-and-matching model with part-time workers and job-specific human capital accumulation. With the model, I claim that the improvement in initial match quality can account for the increased use of intensive margin adjustments along the business cycle. A policy simulation shows that subsidizing intensive margin adjustments via Short-time compensation (STC) policy is more effective in reducing unemployment volatility when the initial match productivities are higher and job separations are lower. Chapter 1 explored the impact of job-specific human capital on intensive margin adjustments, while Chapter 2 examines the role of ex-ante worker heterogeneity. Chapter 2 finds that the pool of IPT workers increasingly consists of high-wage workers who are more attached to the labor market during recessions. According to the microdata from the Current Population Survey, this cyclical change is driven by the inflows into the IPT pool, especially the full-time to IPT flow. The demographic compositional changes of the IPT pool in recessions suggest a new channel through which the intensive margin adjustments can affect aggregate unemployment fluctuations by driving up firms' hiring standards during economic downturns. Chapter 3 focuses on a natural experiment in Oregon and Florida that changed the enforceability of non-compete agreements (NCA) between firms and workers. Using the experiment, I find that banning NCA can have a negative consequence on low-wage workers and an unintentional distributional impact. The unemployment duration increases after the ban which exacerbates the loss of general human capital of unemployed workers. I propose the crowding out effect of unemployed workers due to the ban can cause what I observe in the data and the potential cost of banning NCA for workers. Together, these chapters provide insights into different aspects of labor market dynamics, highlighting the importance of initial match quality, worker heterogeneity, and policy implications for labor market institutions
Essays On The Macroeconomics Of Labor Market And Firm Dynamics
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Author : Felicien Jesugo Goudou
language : en
Publisher:
Release Date : 2023
Essays On The Macroeconomics Of Labor Market And Firm Dynamics written by Felicien Jesugo Goudou and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023 with categories.
This thesis contributes to understanding labor market frictions and how these frictions impact macroeconomic aggregates such as unemployment and productivity. It also critically examines environmental policies such as carbon taxes and green financing. The first chapter examines how non-compete contracts signed between employers and employees affect unemployment, productivity, and welfare in the economy. These contracts stipulate that the employee, while under contract, cannot work for a competing employer for a specified period, typically ranging from one to two years after separation from their initial employer. This type of contract is widespread in the United States and affects at least one in five employees in the country. Results show that a high enforceable incidence of these contracts can compress wages and generate unemployment. This is primarily due to the fact that some individuals who have signed such contracts face difficulties in finding new employment after separating from their initial job. The article proposes reducing the duration of the post-employment restrictions of these contracts to mitigate their effects on workers. However, it is worth noting that these contracts partially benefit employers by incentivizing them to invest in employee training, thereby increasing overall productivity. Speaking of employment contracts, the second chapter evaluates the implications of the coexistence of temporary contracts (fixed-term contracts) and permanent contracts (indefinite-term contracts) on worker flows between unemployment, employment, and labor force non-participation over the life-cycle. This analysis is particularly important due to the effects of these flows on aggregate employment and wages over the life-cycle. It is found that transitions of individuals from permanent employment to unemployment are the most significant factor explaining aggregate employment over the life-cycle. Any policy aimed at increasing employment should target this flow of workers. Moreover, the transition of individuals from temporary employment to unemployment is significant in explaining the low employment of young individuals in European countries like France, especially for those with higher levels of education. The article goes further by constructing a model that explains the observed transition profiles during agents' life-cycle and analyzes how the effects linked to employment protection reforms in European countries are distributed among workers based on their level of education and age. Finally, the third chapter provides a critical assessment of environmental policies such as emissions taxes on production units and green financing. The article shows that despite their effectiveness in reducing emissions, these policies can negatively impact resource allocation, such as capital, among firms, thus reducing aggregate productivity. This is because some highly productive but seriously financially constrained firms may struggle to invest in emission reduction technology, while less productive but wealthy entrepreneurs invest more easily. The burden of emissions-related fiscal measures forces the former to exit the market, thereby reducing productivity. This suggests that other policies, such as green subsidies, are important to mitigate these potential distortions.
Essays On Labor Market Frictions And Macroeconomic Welfare
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Author : Guanyi Yang
language : en
Publisher:
Release Date : 2018
Essays On Labor Market Frictions And Macroeconomic Welfare written by Guanyi Yang and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with Labor market categories.
Chapter 2 studies frictions in firm's hiring and firing decisions in an environment with dual labor markets. More firms execute employment decisions in two labor markets: a permanent (regular) market with firing costs and a frictionless temporary labor market. This paper studies the employment response of firms to heightened idiosyncratic risk and firing rigidity. Rising firing rigidity in the regular market and heightened risks reduce employment and output, which creates large welfare loss. By introducing a temporary labor market, firms switch from regular employment to temporary employment and reduce total employment loss. Thus, temporary employment creates a buffer for firms' employment decisions and for the economy's welfare. However, it cannot fully compensate the efficiency cost from rising firing cost and risk.
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.
Essays On The Determinants Of Worker Productivity And Labor Market Outcomes
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Author : Melissa Christine LoPalo
language : en
Publisher:
Release Date : 2019
Essays On The Determinants Of Worker Productivity And Labor Market Outcomes written by Melissa Christine LoPalo and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with categories.
This dissertation examines determinants of worker productivity, labor market outcomes, and population health. The first chapter, previously published in the Journal of Public Economics, examines the impacts of cash assistance on refugee labor market outcomes. I exploit variation across states and over time in the generosity of cash assistance available to refugees upon arrival in the U.S. and study the impacts on wages and employment. I argue that cash assistance is randomly assigned to refugees conditional on characteristics such as education and country of origin, as refugee placement is decided by a committee that does not meet with the refugees or learn their preferences. I find that refugees resettled with more generous cash assistance go on to earn higher wages, with no significant change in the probability of employment. The effects are largest for highly-educated refugees. The second chapter examines the impact of temperature on the productivity and job performance of outdoor workers in developing countries. I overcome data challenges with studying individual-level productivity by studying household survey interviewers as workers. Using data from Demographic and Health Survey interviewers in 46 countries, I find that interviewers complete fewer interviews per hour worked on hot and humid days, driven by an increase in working hours. I also find evidence that suggests that workers allocate their effort towards tasks that are more easily observed by supervisors on hot days. The third chapter, previously published in Social Justice Research and co-authored with Diane Coffey and Dean Spears, examines the role of social inequality in population health outcomes in India, focusing on the case of casteism and child height in India. We describe evidence from the India Human Development Survey showing that children in villages with more strongly casteist attitudes are shorter on average, an association that is statistically explained by the association between casteism and the prevalence of open defecation
Essays In Macroeconomics And Labor Markets
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Author : Lawrence F. Warren
language : en
Publisher:
Release Date : 2016
Essays In Macroeconomics And Labor Markets written by Lawrence F. Warren and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with Employment (Economic theory) categories.
This dissertation contributes to the current understanding of labor markets, focusing on the use of micro level data and computational modeling to study the interaction of unemployment with various aspects of the macroeconomy. I address the fact that frictions in the labor market carry over into other dimensions of firms' and workers' decisions, such as a firm's incentive to utilize its current labor force, workers' participation in the labor market, and the decision to acquire or discharge debt. In Chapter 1, I study involuntary part-time employment over the business cycle. I document that the population at work part-time for economic reasons ($PTE$) is countercyclical, volatile, and transitory. Workers in $PTE$ are nearly three times more likely than the unemployed to return to full-time work in a given month, and seven times more likely than full-time workers to become unemployed. Using household survey data, I demonstrate that cyclical fluctuations in $PTE$ come from changes in the transition rates between full-time and part-time employment rather than between part-time and unemployment. Moreover, these movements are primarily due to within-job changes in hours. Accordingly, I model part-time work focusing on a firm's decision to hire, fire, or partially utilize its labor force. Firms in the model are heterogeneous in size and productivity, and are subject to search frictions. The model produces firm-level utilization of part-time employment which is consistent with observed worker flows, and varies across the size and age distributions of firms. Over the business cycle, the model matches the observed relative volatility of unemployment and $PTE$. Part-time labor utilization by firms increases the volatility of vacancies and unemployment in the model relative to the case with only an extensive margin. Chapter 2 studies the interaction of a participation margin in a labor market search model.
Labor Market Frictions And Employment Fluctuations
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Author : Robert E. Hall
language : en
Publisher:
Release Date : 1998
Labor Market Frictions And Employment Fluctuations written by Robert E. Hall and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998 with Labor market categories.
The labor market occupies center stage in modern theories of fluctuations. The most important phenomenon to explain and understand in a recession is the sharp decline in employment and jump in unemployment. This chapter for the Handbook of Macroeconomics considers explanations based on frictions in the labor market. Earlier research within the real business cycle paradigm considered frictionless labor markets where fluctuations in the volume of work effort represented substitution by households between work in the market and activities at home. A preliminary section of the chapter discusses why frictionless models are incomplete they fail to account for either the magnitude or persistence of fluctuations in employment. And the frictionless models fail completely to describe unemployment. The evidence suggests strongly that consideration of unemployment as a third use of time is critical for a realistic model. The two elements of a theory of unemployment are a mechanism for workers to lose or leave their jobs and an explanation for the time required for them to find new jobs. Theories of mechanism design or of continuous re-bargaining of employment terms provide the first. The theory of job search together with efficiency wages and related issues provides the second. Modern macro models incorporating these features come much closer than their predecessors to realistic and rigorous explanations of the magnitude and persistence of fluctuations.
Essays On Labor Markets In Developing Countries
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Author : Norihiko Matsuda
language : en
Publisher:
Release Date : 2018
Essays On Labor Markets In Developing Countries written by Norihiko Matsuda and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with categories.
My dissertation consists of three chapters. The first chapter examines social networks in labor markets. While existing theories such as models of screening and peer effects imply that social networks improve job match quality, these theories do not well explain the stylized fact, which we call negative selection---workers and employers with lower socio-economic status use social networks more frequently. By proposing an equilibrium search model, we show that social networks create mismatched jobs in the context where negative selection occurs. Our model sheds light on a neglected aspect of social networks: they help to match, but not necessarily with good-match partners. In the presence of search frictions, workers and firms can be tempted by bad-match encounters through social networks. This temptation is stronger for less productive, poorer workers and firms because costly formal channels are less rewarding for them. Using linked employer-employee data in Bangladesh, we find that matching through social networks rather than formal channels results in mismatches. This chapter demonstrates that while social networks compensate for search frictions in formal labor markets by matching more workers and jobs, their match quality is low. The second chapter evaluates the effects of social security benefits on labor supply. The benefits can reduce labor supply through two channels: current benefits and expectations over future benefits. I develop a framework to jointly estimate both channels and apply it to the South African pension program, which lowered the male eligible age in 2008 to 2010. I find the anticipatory effect of future benefits to be considerable: it accounts for nearly 60 percent of the labor force contraction caused by the lowering of the eligible age. Moreover, the framework identifies binding liquidity constraints faced by nearly-age-eligible people. The third chapter examines spillover effects of the South African Old-Age Pension Program on employment choices of recipients' children. By exploiting quasi-experimental variations in eligibility, the empirical results show that prime-age children leave the labor force if their fathers receive pension benefits. I find suggestive evidence that they leave the labor force to receive education and training. I also find suggestive evidence that the benefits allow prime-age individuals to look for jobs for longer duration. These findings imply that the program does not discourage work but help prime-age individuals move to more productive jobs.
Monopsony In Motion
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Author : Alan Manning
language : en
Publisher: Princeton University Press
Release Date : 2013-12-03
Monopsony In Motion written by Alan Manning 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 2013-12-03 with Business & Economics categories.
What happens if an employer cuts wages by one cent? Much of labor economics is built on the assumption that all the workers will quit immediately. Here, Alan Manning mounts a systematic challenge to the standard model of perfect competition. Monopsony in Motion stands apart by analyzing labor markets from the real-world perspective that employers have significant market (or monopsony) power over their workers. Arguing that this power derives from frictions in the labor market that make it time-consuming and costly for workers to change jobs, Manning re-examines much of labor economics based on this alternative and equally plausible assumption. The book addresses the theoretical implications of monopsony and presents a wealth of empirical evidence. Our understanding of the distribution of wages, unemployment, and human capital can all be improved by recognizing that employers have some monopsony power over their workers. Also considered are policy issues including the minimum wage, equal pay legislation, and caps on working hours. In a monopsonistic labor market, concludes Manning, the "free" market can no longer be sustained as an ideal and labor economists need to be more open-minded in their evaluation of labor market policies. Monopsony in Motion will represent for some a new fundamental text in the advanced study of labor economics, and for others, an invaluable alternative perspective that henceforth must be taken into account in any serious consideration of the subject.
Labor Market Efficiency Wages And Employment When Search Frictions Interact With Intrafirm Bargaining
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Author : Pierre Cahuc
language : en
Publisher:
Release Date : 2001
Labor Market Efficiency Wages And Employment When Search Frictions Interact With Intrafirm Bargaining written by Pierre Cahuc and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with categories.