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Download or read book Dual Labor Markets and Business Cycles written by and published by . This book was released on 2005 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : David E. Cook
Publisher :
ISBN 13 :
Total Pages : 27 pages
Book Rating : 4.:/5 (129 download)
Download or read book Dual Labor Markets and Business Cycles written by David E. Cook and published by . This book was released on 2008 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper, we model a dynamic general equilibrium model of a small open developing economy. We model labor markets as including both formal and informal urban employment as well as rural employment. We find that modelling dual labor markets helps explain why output in developing economies may fall even as labor inputs remain constant during financial crises. An external financial shock may lead to a reallocation of labor from productive formal sectors of the economy to less productive informal sectors.
Author : Gilles Saint-Paul
Publisher : MIT Press
ISBN 13 : 9780262193764
Total Pages : 248 pages
Book Rating : 4.1/5 (937 download)
Download or read book Dual Labor Markets written by Gilles Saint-Paul and published by MIT Press. This book was released on 1996 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Author : Frank Wilkinson
Publisher : Elsevier
ISBN 13 : 0323155898
Total Pages : 325 pages
Book Rating : 4.3/5 (231 download)
Download or read book The Dynamics of Labour Market Segmentation written by Frank Wilkinson and published by Elsevier. This book was released on 2013-10-24 with total page 325 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Dynamics of Labour Market Segmentation is a collection of different papers about the importance of differentiation between groups of workers and the development of employer strategies for controlling the labor process in the market. The book is divided into five parts. Part I discusses the nature of segmentation, duality, the internal labor market, internationalization, and discrimination. Part II tackles the industrial transformation and the evolution of dual labor markets and the paternalism and labor market segmentation theory, and Part III deals with topics such as entrepreneurial strategies of adjustment and internal labor markets; artisan production and economic growth; and outwork and segmented labor markets. Part IV covers the construction of women as second-class workers and the social reproduction and the basic structure of the labor market; Part V explores the labor market segmentation and the business cycle and the relationship between employment and output. The text is recommended for entrepreneurs who wish to understand the labor market as well as social scientists who would like to know the implications of the labor market segmentation not only for the marketplace but also for society as a whole.
Author : Ms.Emine Boz
Publisher : International Monetary Fund
ISBN 13 : 147551249X
Total Pages : 51 pages
Book Rating : 4.4/5 (755 download)
Download or read book Emerging Market Business Cycles written by Ms.Emine Boz and published by International Monetary Fund. This book was released on 2012-10-09 with total page 51 pages. Available in PDF, EPUB and Kindle. Book excerpt: Emerging economies are characterized by higher consumption and real wage variability relative to output and a strongly countercyclical current account. A real business cycle model of a small open economy that embeds a Mortensen-Pissarides type of search-matching frictions and countercyclical interest rate shocks can jointly account for these regularities. In the face of countercyclical interest rate shocks, search-matching frictions increase future employment uncertainty, improving workers’ incentive to save and generating a greater response of consumption and the current account. Higher consumption response in turn feeds into larger fluctuations in the workers’ bargaining power while the interest rates shocks lead to variations in the firms’ willingness to hire; both of which contribute to a highly variable real wage.
Author : Piero Ferri
Publisher : Springer Science & Business Media
ISBN 13 : 3662008319
Total Pages : 197 pages
Book Rating : 4.6/5 (62 download)
Download or read book The Labor Market and Business Cycle Theories written by Piero Ferri and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 197 pages. Available in PDF, EPUB and Kindle. Book excerpt: Interest in business cycles has had its 'ups and downs'. After a period of almost steady state growth and of economic tranquility, when the business cycle seemed to be obsolete, the turbulence of the 70s and 80s has contributedto a renewed interest in the topic. Important analytical and methodological innovations have also favored the present abundance of contributions. Four innovations are of particular importance: i. microfoundations ii. nonlinearities iii. stochastic variables iv. real aspects. Both Classical macroeconomics and new-Keynesian approaches seem to share these characteristics, which apply both to endogenous and exogenous explanations of the cycle. The distance separating the newer literature from its forebears seems vast. Previously, cycle theory was characterized by a macro approach and utilized nonlinearities either through piecewise 'linear models or with the aid of Classical theorems in the field of dynamic systems. To consider and to compare the old and the new literature on business cycles is one of the goals of this book. To narrow the distance separating them is another goal of this research. We do not try to bridge it, but rather to revisit the former tradition with new tools. Finally, a particular emphasis is put on the 'ceilings and floors' type of literature. One of us has written a D. Phil. thesis with Sir John Hicks, and both have worked with H. P. Minsky. Hicks, along with Goodwin, introdu. ced the concept of ceilings and floors into business cycle analysis, and Minsky made important contributions to the area.
Author : Hie Joo Ahn
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (138 download)
Download or read book The Dual U.S. Labor Market Uncovered written by Hie Joo Ahn and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Aggregate U.S. labor market dynamics are well approximated by a dual labor market supplemented with a third, predominantly, home-production segment. We uncover this structure by estimating a Hidden Markov Model, a machine-learning method. The different market segments are identified through (in-)equality constraints on labor market transition probabilities. This method yields time series of stocks and flows for the three segments for 1980-2021. Workers in the primary sector, who make up around 55 percent of the population, are almost always employed and rarely experience unemployment. The secondary sector, which constitutes 14 percent of the population, absorbs most of the short-run fluctuations, both at seasonal and business cycle frequencies. Workers in this segment experience six times higher turnover rates than those in the primary tier and are ten times more likely to be unemployed than their primary counterparts. The tertiary segment consists of workers who infrequently participate in the labor market but nevertheless experience unemployment when they try to enter the labor force. Our individual-level analysis shows that observable demographic characteristics only explain a small part of the cross-individual variation in segment membership. The combination of the aggregate and individual-level evidence we provide points to dualism in the U.S. labor market being an equilibrium division of labor, under labor market imperfections, that minimizes adjustment costs in response to predictable seasonal as well as unpredictable business cycle fluctuations.
Author : Piero Ferri
Publisher : Springer Science & Business Media
ISBN 13 : 3642772412
Total Pages : 172 pages
Book Rating : 4.6/5 (427 download)
Download or read book Wages, Regime Switching, and Cycles written by Piero Ferri and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 172 pages. Available in PDF, EPUB and Kindle. Book excerpt: The initial purposes of this book were to update and extend the discussion and the results presented ill our previous book, The Labor Market and Business Cycle Theories. Our 1990 article, which appeared in The Journal of Economic Behavior and Organization, represented a first step in this direction. The consequences of this effort have materialized in a number of new chapters that has led de facto to a new book, in which the surviving parts have been largely revised. The 1989 book was too mathematically oriented for many Keynesians and post Keynesians to be fully appreciated and insufficiently microfounded for both new classicals and new-Keynesians to be warmly accepted, yet we received positive and encouraging comments, and it was sold out very quickly. It was an attempt to dis cuss dynamics in Keynesian terms, based on a double assumption that maintains its validity-that both economic facts and analytical and methodological innova tions had contributed to a renewed interest in business cycles, which over time has had its "ups and downs." Since then, many more articles and books have appeared, stressing in particular the role of microfoundations and of nonlinearities in shaping business cycle theory.
Author : William Francis Maloney
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 34 pages
Book Rating : 4./5 ( download)
Download or read book The Structure of Labor Markets in Developing Countries written by William Francis Maloney and published by World Bank Publications. This book was released on 1998 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Gregory Curtis Weeks
Publisher :
ISBN 13 :
Total Pages : 169 pages
Book Rating : 4.:/5 (247 download)
Download or read book The Dual Labor Market, the Phillips Curve, and the Class Conflict Business Cycle written by Gregory Curtis Weeks and published by . This book was released on 1978 with total page 169 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Ms.Valerie Cerra
Publisher : International Monetary Fund
ISBN 13 : 1513536990
Total Pages : 50 pages
Book Rating : 4.5/5 (135 download)
Download or read book Hysteresis and Business Cycles written by Ms.Valerie Cerra and published by International Monetary Fund. This book was released on 2020-05-29 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: Traditionally, economic growth and business cycles have been treated independently. However, the dependence of GDP levels on its history of shocks, what economists refer to as “hysteresis,” argues for unifying the analysis of growth and cycles. In this paper, we review the recent empirical and theoretical literature that motivate this paradigm shift. The renewed interest in hysteresis has been sparked by the persistence of the Global Financial Crisis and fears of a slow recovery from the Covid-19 crisis. The findings of the recent literature have far-reaching conceptual and policy implications. In recessions, monetary and fiscal policies need to be more active to avoid the permanent scars of a downturn. And in good times, running a high-pressure economy could have permanent positive effects.
Author : Peter B. Doeringer
Publisher : M.E. Sharpe
ISBN 13 : 9780765632128
Total Pages : 258 pages
Book Rating : 4.6/5 (321 download)
Download or read book Internal Labor Markets and Manpower Analysis written by Peter B. Doeringer and published by M.E. Sharpe. This book was released on 1985-06 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book discusses the institutional aspects of the American labor market. The introduction assesses the major changes since 1971.
Author : Josep Pijoan-Mas
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (135 download)
Download or read book Dual Labor Markets and the Equilibrium Distribution of Firms written by Josep Pijoan-Mas and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We study the effects of a dual labor market structure on firm dynamics, the firm size distribution, and aggregate productivity. Using rich Spanish administrative data, we document that the usage of fixed-term (FT) contracts is very heterogeneous across firms within narrowly defined sectors, and that the share of temporary workers increases monotonically with firm size. We write an equilibrium search-and-matching model of firm dynamics with FT and open-ended (OE) contracts to understand the choice of contract type by heterogeneous firms and the equilibrium joint distribution of employment and temporary share across firms. A key feature of the calibrated economy is that matching efficiency is much larger in the FT than in the OE market. Because of this, firms face a trade-off between the lower costs of attracting workers to FT contracts and the higher turnover of FT vacancies. With decreasing returns to scale, the opportunity cost of unfilled vacancies is lower for larger firms, so these firms hire a higher fraction of temporary workers. In equilibrium, the dual labor market structure makes it difficult for firms to become large because of the high turnover of FT contracts and the strong competition of smaller firms for OE contracts. In counterfactual exercises, we find that limiting the duration of FT contracts decreases the share of temporary employment and the unemployment rate, but at the expense of firm destruction and lower aggregate productivity. Instead, making FT contracts more similar to OE contracts by increasing their duration allows the economy to expand through a reduction in the unemployment rate and an increase in aggregate productivity.
Author : Raquel Fonseca
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Divergence in Labor Market Institutions and International Business Cycles written by Raquel Fonseca and published by . This book was released on 2008 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the sources of business cycle comovement within the New Open Economy Macroeconomy framework. It sheds new light on the business cycle comovement issue by examining the role of cross-country divergence in labor market institutions. The authors first document stylized facts supporting that heterogeneous labor market institutions are associated with lower cross-country GDP correlations among OECD countries. They then investigate this fact within a two-country dynamic general equilibrium model with frictions on the good and labor markets. On the good-market side, they model monopolistic competition and nominal price rigidity. Labor market frictions are introduced through a matching function à la Mortensen and Pissarides (1999). Their conclusions disclose that heterogenous labor market institutions amplify the crosscountry GDP differential in response to aggregate shocks. In quantitative terms, they contribute to reduce cross-country output correlation, when the model is subject to real and/or monetary shocks. Their overall results show that taking into account labor market heterogeneity improves their understanding of the quantity puzzle.
Author : Marco Maffezzoli
Publisher :
ISBN 13 :
Total Pages : 29 pages
Book Rating : 4.:/5 (247 download)
Download or read book Non-Walrasian Labor Markets and Real Business Cycles written by Marco Maffezzoli and published by . This book was released on 2000 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Andreas Pollak
Publisher : Mohr Siebeck
ISBN 13 : 9783161493041
Total Pages : 204 pages
Book Rating : 4.4/5 (93 download)
Download or read book Optimal Unemployment Insurance written by Andreas Pollak and published by Mohr Siebeck. This book was released on 2007 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt: Designing a good unemployment insurance scheme is a delicate matter. In a system with no or little insurance, households may be subject to a high income risk, whereas excessively generous unemployment insurance systems are known to lead to high unemployment rates and are costly both from a fiscal perspective and for society as a whole. Andreas Pollak investigates what an optimal unemployment insurance system would look like, i.e. a system that constitutes the best possible compromise between income security and incentives to work. Using theoretical economic models and complex numerical simulations, he studies the effects of benefit levels and payment durations on unemployment and welfare. As the models allow for considerable heterogeneity of households, including a history-dependent labor productivity, it is possible to analyze how certain policies affect individuals in a specific age, wealth or skill group. The most important aspect of an unemployment insurance system turns out to be the benefits paid to the long-term unemployed. If this parameter is chosen too high, a large number of households may get caught in a long spell of unemployment with little chance of finding work again. Based on the predictions in these models, the so-called "Hartz IV" labor market reform recently adopted in Germany should have highly favorable effects on the unemployment rates and welfare in the long run.
Author : David Andolfatto
Publisher :
ISBN 13 :
Total Pages : 39 pages
Book Rating : 4.:/5 (27 download)
Download or read book Business Cycles and Labor Market Search written by David Andolfatto and published by . This book was released on 1991 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt:
