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| Author | : |
| Publisher | : |
| Total Pages | : 587 |
| Release | : 2006 |
| Genre | : Economics |
| ISBN | : 9781280641701 |
A quantitative approach to economic problems of practical importance.
| Author | : Henning Bunzel |
| Publisher | : Emerald Group Publishing |
| Total Pages | : 613 |
| Release | : 2006-03-30 |
| Genre | : Business & Economics |
| ISBN | : 0444520899 |
Selected papers from a conference held in honour of Professor Dale T. Mortensen upon the occasion of his 65th birthday. It includes papers on some of Professor Dale T. Mortensen's current research topics, as well as additional theoretical papers, and micro- and macro-econometric papers.
| Author | : Christopher J. Flinn |
| Publisher | : |
| Total Pages | : 98 |
| Release | : 1981 |
| Genre | : Econometrics |
| ISBN | : |
| Author | : Simon M. Burgess |
| Publisher | : |
| Total Pages | : 48 |
| Release | : 1991 |
| Genre | : Economics |
| ISBN | : |
| Author | : Mr.Yasser Abdih |
| Publisher | : International Monetary Fund |
| Total Pages | : 34 |
| Release | : 2018-06-15 |
| Genre | : Business & Economics |
| ISBN | : 148436208X |
In this paper, we undertake empirical analysis to understand U.S. wage behavior since the beginning of the new millennium. At the macroeconomic level, we find that a productivity-augmented Phillips curve model explains the data fairly well. The model reveals that the upward pressure on wage growth from recent tightening in the labor market has been dampened by a persistent decline in trend labor productivity growth and the share of income that accrues to labor. These themes are reinforced and complemented at the micro-economic level. Lower regional unemployment puts an upward pressure on wages of individuals, although this effect has become weaker since 2008. But there is downward pressure on wages for individuals with occupations that are exposed to automation and offshoring, and in industries with a higher concentration of large firms. All these factors appear to play a role illustrating why it is difficult to single out any one culprit for the observed wage growth moderation.
| Author | : Melvyn G. Coles |
| Publisher | : |
| Total Pages | : 29 |
| Release | : 2011 |
| Genre | : Economics |
| ISBN | : |
A rich but tractable variant of the Burdett-Mortensen model of wage setting behavior is formulated and a dynamic market equilibrium solution to the model is defined and characterized. In the model, firms cannot commit to wage contracts. Instead, the Markov perfect equilibrium to the wage setting game, characterized by Coles (2001), is assumed. In addition, firm recruiting decisions, firm entry and exit, and transitory firm productivity shocks are incorporated into the model Given that the cost of recruiting workers is proportional to firm employment, we establish the existence of an equilibrium solution to the model in which wages are not contingent on firm size but more productive employers always pay higher wages. Although the state space, the distribution of workers over firms, is large in the general case, it reduces to a scalar that can be interpreted as the unemployment rate in the special case of homogenous firms. Furthermore, the equilibrium is unique. As the dimension of the state space is equal to the number of firms types in general, an (approximate) equilibrium is computable -- National Bureau of Economic Research web site.
| Author | : Joseph G. Altonji |
| Publisher | : |
| Total Pages | : 82 |
| Release | : 2009 |
| Genre | : Career development |
| ISBN | : |
In this paper we use indirect inference to estimate a joint model of earnings, employment, job changes, wage rates, and work hours over a career. Our model incorporates duration dependence in several variables, multiple sources of unobserved heterogeneity, job-specific error components in both wages and hours, and measurement error. We use the model to address a number of important questions in labor economics, including the source of the experience profile of wages, the response of job changes to outside wage offers, and the effects of seniority on job changes. We provide estimates of the dynamic response of wage rates, hours, and earnings to various shocks and measure the relative contributions of the shocks to the variance of earnings in a given year and over a lifetime. We find that human capital accounts for most of the growth of earnings over a career although job seniority and job mobility also play significant roles. Unemployment shocks have a large impact on earnings in the short run as well a substantial long long-term effect that operates through the wage rate. Shocks associated with job changes and unemployment make a large contribution to the variance of career earnings and operate mostly through the job-specific error components in wages and hours.
| Author | : Davide Porcellacchia |
| Publisher | : International Monetary Fund |
| Total Pages | : 26 |
| Release | : 2016-02-10 |
| Genre | : Business & Economics |
| ISBN | : 1498316638 |
Structural reforms in the liquidity trap need not be deflationary. This paper develops a simple framework to study the role that key characteristics of Japan’s labor and product markets—labor-market duality and weak corporate governance—play in generating unfavorable wage-price dynamics. The model allows a discussion of whether and in what form structural reforms may contribute to Japan’s short-run goal of reflating the economy. It finds that boosting inflation with structural reforms implies an unusual trade-off with employment, that is an inverted Phillips curve. Simultaneous implementation of labor-market and product-market reforms is most effective in terms of reflating the economy.
| Author | : Kenneth Wolpin |
| Publisher | : Routledge |
| Total Pages | : 112 |
| Release | : 2013-10-11 |
| Genre | : Business & Economics |
| ISBN | : 1136459480 |
In the last twenty years there has been an explosion of economic research on labor force dynamics; the movement of individuals between labor force states. This book focuses on the methods by which behavioral theories of labor force dynamics have been empirically implemented. Most attention is paid to the partial equilibrium two-state transitional model of job search behavior. That model is the foundation for much of our thinking about the nature of unemployment at both the individual and aggregate levels. Although the basic formulation has remained the same, approaches to the empirical implementation of such models has changed dramatically.
| Author | : Kenneth I. Wolpin |
| Publisher | : Psychology Press |
| Total Pages | : 112 |
| Release | : 2001 |
| Genre | : Business & Economics |
| ISBN | : 9780415269407 |
In the last twenty years there has been an explosion of economic research on labour force dynamics. This book focuses on the methods by which behavioural theories of labour force dynamics have been empirically implemented.
