Labor Supply And Aggregate Functions
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Labor Supply And Aggregate Functions
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Author : Robert Ernest Hall
language : en
Publisher:
Release Date : 1979
Labor Supply And Aggregate Functions written by Robert Ernest Hall and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1979 with Business cycles categories.
Issues of labor supply are at the heart of macroeconomic explanations of the large cyclical fluctuations of output observed in modern economies. This paper starts with a serious empirical examination of the view that the labor market is always in balance-that every observed combination of employment and compensation is a point of intersection of the relevant supply and demand curves. I will call this the "intertemporal substitution" model of fluctuations. According to this model, workers are willing to shift their hours of work from one year to another in response to modest shifts in relative wages. The paper goes on to point out a strong implication of the pure inter- temporal substitution model, namely, the irrelevance of changes in the money supply for the labor supply function. A model where markets clear instantly ought to obey full monetary neutrality. The data refute this implication absolutely unambiguously. The money stock unambiguously shifts the labor supply function. The pure substitution model seems untenable in the light of this evidence. The paper then turns to explanations of the nonneutrality of money in the short run. According to the most carefully worked out line of thought, monetary shocks cause workers to make inappropriate intertemporal shifts in labor supply, because they lack complete information about the source of aggregate shocks and are forced to respond in the same way to real and nominal disturbances. Finally, the paper turns to the view that, in the short run, labor supply is largely irrelevant to the determination of aggregate employment
A Study Of The Aggregate United States Labor Supply Function
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Author : Jeanette Marie Oster
language : en
Publisher:
Release Date : 1984
A Study Of The Aggregate United States Labor Supply Function written by Jeanette Marie Oster and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1984 with Labor supply categories.
Aggregate Labor Market Outcomes
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Author :
language : en
Publisher:
Release Date : 2009
Aggregate Labor Market Outcomes written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with Labor market categories.
Commonly used frictional models of the labor market imply that changes in frictions have large effects on steady state employment and unemployment. We use a model that features both frictions and an operative labor supply margin to examine the robustness of this feature to the inclusion of a empirically reasonable labor supply channel. The response of unemployment to changes in frictions is similar in both models. But the labor supply response present in our model greatly attenuates the effects of frictions on steady state employment relative to the simplest matching model, and two common extensions. We also find that the presence of empirically plausible frictions has virtually no impact on the response of aggregate employment to taxes.
The Role Of Aggregate Preferences For Labor Supply Evidence From Low Paid Employment
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Author : Luke Haywood
language : en
Publisher:
Release Date : 2017
The Role Of Aggregate Preferences For Labor Supply Evidence From Low Paid Employment written by Luke Haywood and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017 with categories.
Unemployment As Disequilibrium In A Model Of Aggregate Labor Supply
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Author : Orley Ashenfelter
language : en
Publisher:
Release Date : 1977
Unemployment As Disequilibrium In A Model Of Aggregate Labor Supply written by Orley Ashenfelter and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1977 with Employment (Economic theory) categories.
Individual And Aggregate Labor Supply With Coordinated Working Times
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Author : Richard Rogerson
language : en
Publisher:
Release Date : 2010
Individual And Aggregate Labor Supply With Coordinated Working Times written by Richard Rogerson and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with Economics categories.
I analyze two extensions to the standard model of life cycle labor supply that feature operative choices along both the intensive and extensive margin. The first assumes that individuals face different continuous wage-hours schedules. The second assumes that all work must be coordinated across individuals. These models look similar qualitatively but have very different implications for how aggregate labor supply responds to changes in taxes. In the first model, curvature in the utility from leisure function plays relatively little role in determining the overall change in hours worked, whereas in the second model it is of first order importance. The second model has important implications for what data is best able to provide evidence on the extent of curvature in the utility from leisure function.
Towards An Aggregate Theory Of Labour Supply And The Labour Market
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Author : Brian P. Stewart
language : en
Publisher:
Release Date : 1982
Towards An Aggregate Theory Of Labour Supply And The Labour Market written by Brian P. Stewart and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1982 with Labor supply categories.
Aggregate Labor Supply
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Author : Johanna Wallenius
language : en
Publisher:
Release Date : 2011
Aggregate Labor Supply written by Johanna Wallenius and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011 with Hours of labor categories.
Unemployment Capital Labor Substitution And Economic Growth
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Author : Mr.Bob Rowthorn
language : en
Publisher: International Monetary Fund
Release Date : 1999-03-01
Unemployment Capital Labor Substitution And Economic Growth written by Mr.Bob Rowthorn and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999-03-01 with Business & Economics categories.
This paper discusses the influence of economic growth on the equilibrium unemployment rate (NAIRU). It examines how income distribution and the NAIRU are influenced by capital formation, technical progress, and labor force expansion, and how these factors’ impact depends on the elasticity of substitution between capital and labor. The paper distinguishes between the short-run NAIRU when capital stock is exogenous, and the long-run NAIRU when it is endogenous. It also considers how the analysis must be modified to take into account Keynesian ideas concerning the role of aggregate demand. It concludes that unless the capital stock grows in line with labor supply in efficiency units, the short-run NAIRU will increase, reducing the scope for demand stimulation.
Working In The Macro Economy
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Author : Martin F. J. Prachowny
language : en
Publisher: Routledge
Release Date : 1997-04-17
Working In The Macro Economy written by Martin F. J. Prachowny and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997-04-17 with Business & Economics categories.
Labour economics have received less attention in macroeconomics despite the fact that involuntary unemployment is a pressing policy issue. Here the imbalance is redressed by focusing on labour-demand and labour-supply relationships.