Macroeconomics Of Labor Markets
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Labor Markets In A Global Economy
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Author : Ingrid Hahne Rima
language : en
Publisher: M.E. Sharpe
Release Date : 1996
Labor Markets In A Global Economy written by Ingrid Hahne Rima and has been published by M.E. Sharpe this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996 with Business & Economics categories.
Rima (economics, Temple U.) departs from the convention of defining labor economics chiefly in micro-analytical terms, instead examining supply and demand without relying on the presumption that the two are invariably brought into balance through market-clearing changes in wage rates. The volume's 19 chapters are divided into sections covering the macro- and micro-economic aspects of labor-market behavior and outcomes, the wage structure and the level of wages and prices, and labor policy issues. For undergraduate level students. Paper edition (unseen), $24.95. Annotation copyright by Book News, Inc., Portland, OR
Dual Labor Markets
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Author : Gilles Saint-Paul
language : en
Publisher: MIT Press
Release Date : 1996
Dual Labor Markets written by Gilles Saint-Paul and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996 with Business & Economics categories.
Uses theoretical models to analyse the macroeconomic implications of the dual labour market. Includes an introduction to the techniques of dynamic programming and the matching function.
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.
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.
Most macroeconomic theory has focused on goods and money rather than on labour, but this book goes someway to redressing this balance. It examines a wide range of labor-market issues from the perspective of modern macroeconomics. It considers policy issues, as well as theory, and criticises both Keynesian and New Classical approaches.
Macroeconomic Adjustment With Segmented Labor Markets
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Author : Pierre-Richard Agénor
language : en
Publisher: International Monetary Fund
Release Date : 1994-05-01
Macroeconomic Adjustment With Segmented Labor Markets written by Pierre-Richard Agénor 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 1994-05-01 with Business & Economics categories.
This paper analyzes the macroeconomic effects of fiscal and labor market policies in developing countries. The basic framework considers a small open economy with a large informal production sector and a heterogeneous work force. The labor market is segmented as a result of efficiency considerations and minimum wage laws. The basic model is then extended to account for unemployment benefits, income taxation, and imperfect labor mobility across sectors. The analysis indicates, among other results, that a reduction in unemployement benefits has a positive effect on output of tradable goods by lowering both the level of efficiency wages and the relative rent captured by skilled workers.
Labor Credit And Goods Markets
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Author : Nicolas Petrosky-Nadeau
language : en
Publisher: MIT Press
Release Date : 2017-11-10
Labor Credit And Goods Markets written by Nicolas Petrosky-Nadeau and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-11-10 with Business & Economics categories.
An integrated framework to study the theoretical and quantitative properties of economies with frictions in labor, financial, and goods markets. This book offers an integrated framework to study the theoretical and quantitative properties of economies with frictions in multiple markets. Building on analyses of markets with frictions by 2010 Nobel laureates Peter A. Diamond, Dale T. Mortensen, and Christopher A. Pissarides, which provided a new theoretical approach to search markets, the book applies this new paradigm to labor, finance, and goods markets. It shows, in particular, how frictions in different markets interact with each other. The book first covers the main developments in the analysis of the labor market in the presence of frictions, offering a systematic analysis of the dynamics of this environment and explaining the notion of macroeconomic volatility. Then, building on the generality and simplicity of the search analysis, the book adapts it to other markets, developing the tools and concepts to analyze friction in these markets. The book goes beyond the traditional general equilibrium analysis of markets, which is often frictionless. It begins with the standard analysis of a single market, and then sequentially integrates more markets into the analysis, progressing from labor to financial to goods markets. Along the way, the book provides a number of useful results and insights, including the existence of a direct link between search frictions and the degree of volatility in the economy.
Labor Markets Employment Policy And Job Creation
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Author : Lewis C. Solmon
language : en
Publisher: Routledge
Release Date : 2019-03-07
Labor Markets Employment Policy And Job Creation written by Lewis C. Solmon and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-03-07 with Political Science categories.
This clear, accessible volume provides a comprehensive overview of the ongoing debate over the determining factors of and key influences on employment growth and labor market training, education, and related policies in the United States. Drawing on the work of distinguished labor economists, the chapters tackle questions posed by job and skill demands in the "new high-tech economy" and explore sources of employment growth; productivity growth and its implications for future employment; government mandates, labor costs, and employment; and labor force demographics, income inequality, and returns to human capital. These topics are central concerns for government, which must judge every prospective policy proposal by its effects on employment growth. Washington keeps at least one eye firmly on the jobs picture, and public officials at every level are constantly aware of the issues surrounding American job security. The jobs issue reaches beyond this focus on the unemployment rate and on total employment, including the rate at which employment is seen as growing, the growth of real wages, the security of employment, returns to human capital, uncertainty about the education and training best suited for a world of rapidly changing economic conditions, and the distribution of the gains from growth across economic classes and population groups.
Unemployment And Inflation
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Author : MichaelJ. Piore
language : en
Publisher: Routledge
Release Date : 2017-07-05
Unemployment And Inflation written by MichaelJ. Piore and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-07-05 with Business & Economics categories.
Originally published in 1979, this reader presents an industrialist view of the labour market and economics as they stood at the time in the United States. The essays collated aim to answer macroeconomic questions on this topic as well as exploring issues related closely to employment and inflation. This title will be of interest to students of business and economics.
Studies In Labor Markets
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Author : Sherwin Rosen
language : en
Publisher: University of Chicago Press
Release Date : 2007-12-01
Studies In Labor Markets written by Sherwin Rosen 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 2007-12-01 with Political Science categories.
The papers in this volume present an excellent sampling of the best of current research in labor economics, combining the most sophisticated theory and econometric methods with high-quality data on a variety of problems. Originally presented at a Universities-National Bureau Committee for Economic Research conference on labor markets in 1978, and not published elsewhere, the thirteen papers treat four interrelated themes: labor mobility, job turnover, and life-cycle dynamics; the analysis of unemployment compensation and employment policy; labor market discrimination; and labor market information and investment. The Introduction by Sherwin Rosen provides a thoughtful guide to the contents of the papers and offers suggestions for continuing research.
Essays On Macroeconomics And Labor Markets
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Author : Miren Azkarate-Askasua
language : en
Publisher:
Release Date : 2020
Essays On Macroeconomics And Labor Markets written by Miren Azkarate-Askasua and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020 with categories.
This thesis contains three essays on the macroeconomic effects of labor markets with a special emphasis on market power and the determination of wages. In the first chapter, Miguel Zerecero and I study the efficiency and welfare effects of employer and union labor market power. We use data of French manufacturing firms to first document a negative relationship between employment concentration and wages and labor shares. At the micro-level, we identify the effects of employment concentration thanks to mass layoff shocks to competitors. Second, we develop a bargaining model in general equilibrium that incorporates employer and union labor market power. The model features structural labor wedges that are heterogeneous across firms and potentially generate misallocation of resources. We propose an estimation strategy that separately identifies the structural parameters determining both sources of labor market power. Furthermore, we allow different parameters across industries which contributes to the heterogeneity of the wedges. We show that observing wage and employment data is enough to compute counterfactuals relative to the baseline. Third, we evaluate the efficiency and welfare losses from labor market distortions. Eliminating employer and union labor market power increases output by 1.6% and the labor share by 21 percentage points translating into significant welfare gains for workers. Workers' geographic mobility is key to realize the output gains from competition. In the second chapter, Miguel Zerecero and I propose a bias correction method for estimations of quadratic forms in the parameters of linear models. It is known that those quadratic forms exhibit small-sample bias that appears when one wants to perform a variance decomposition such as decomposing the sources of wage inequality. When the number of covariates is large, the direct computation for a bias correction is not feasible and we propose a bootstrap method to estimate the correction. Our method accommodates different assumptions on the structure of the error term including general heteroscedasticity and serial correlation. Our approach has the benefit of correcting the bias of multiple quadratic forms of the same linear model without increasing the computational cost and being very flexible. We show with Monte Carlo simulations that our bootstrap procedure is effective in correcting the bias and we compare it to other methods in the literature. Using administrative data for France, we apply our method by doing a variance decomposition of a linear model of log wages with person and firm fixed effects. We find that the person and firm effects are less important in explaining the variance of log wages after correcting for the bias. In the third chapter, I study peer effects at the workplace. I focus on how potential peers determine a worker's location and her future wage profile. I empirically disentangle if workplace peers affect each other through learning or network effects. Similarly to the literature, I document the importance of learning which is more pronounced for the youngest cohorts arguably with no networks. I propose a structural model to understand the mechanism behind learning. The final goal of the model is to quantify the impact of peer learning the firm geographical allocation of workers, and on the rising between firm wage inequality.