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Equilibrium Wage Distributions
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Book Synopsis Equilibrium Wage Distributions by : Joseph E. Stiglitz
Download or read book Equilibrium Wage Distributions written by Joseph E. Stiglitz and published by . This book was released on 1984 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes equilibrium in labor markets with costly search. Even in steady state equilibrium, identical labor may receive different wages; this may be the case even when the only source of imperfect information is the inequality of wages which the market is perpetuating. When there are information imperfections arising from (symmetric)differences in non-pecuniary characteristics of jobs and preferences of individuals, there will not in general exist a full employment, zero profit single wage equilibrium. There are, in general, a multiplicity of equilbria. Equilibrium may be characterized by unemployment; in spite of the presence of an excess supply of labor, no firm is willing to hire workers at a lowerwage. It knows that if it does so, the quit rate will be higher, and hence turnover costs(training costs) will be higher, so much so that profits will actually be lower. The model thus provides a rationale for real wage rigidity. The model also provides a theory of equilibrium frictional unemployment. Though the constrained optimality (taking explicitly into account the costs associated with obtaining information and search) may entail unemployment and wage dispersion, the levels of unemployment and wage dispersion in the market equilibrium will not, in general, be (constrained) optimal.
Book Synopsis Equilibrium Wage Distributions by : Dale T. Mortensen
Download or read book Equilibrium Wage Distributions written by Dale T. Mortensen and published by . This book was released on 1988 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Estimation of Equilibrium Wage Distributions with Heterogeneity by : Audra J. Bowlus
Download or read book Estimation of Equilibrium Wage Distributions with Heterogeneity written by Audra J. Bowlus and published by . This book was released on 1995 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :Stanford University. Institute for Mathematical Studies in the Social Sciences Publisher : ISBN 13 : Total Pages :47 pages Book Rating :4.:/5 (123 download)
Book Synopsis Equilibrium Wage Distributions by : Stanford University. Institute for Mathematical Studies in the Social Sciences
Download or read book Equilibrium Wage Distributions written by Stanford University. Institute for Mathematical Studies in the Social Sciences and published by . This book was released on 1974 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Equilibrium Wage Distributions with Word-of-mouth Worker Communication by : Jon Strand
Download or read book Equilibrium Wage Distributions with Word-of-mouth Worker Communication written by Jon Strand and published by . This book was released on 1984 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Alternative Models of Wage Dispersion by : Damien Gaumont
Download or read book Alternative Models of Wage Dispersion written by Damien Gaumont and published by International Monetary Fund. This book was released on 2005 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: We analyze labor market models where the law of one price does not hold-that is, models with equilibrium wage dispersion. We begin by assuming workers are ex ante heterogeneous, and highlight a flaw with this approach: if search is costly, the market shuts down. We then assume workers are homogeneous, but matches are ex post heterogeneous. This model is robust to search costs, and it delivers equilibrium wage dispersion. However, we prove the law of two prices holds: generically, we cannot get more than two wages. We explore several other models, including one combining ex ante and ex post heterogeneity, which is robust and can deliver more than two-point wage distributions.
Author :Audra J. Bowlus Publisher :London : Department of Economics, University of Western Ontario ISBN 13 : Total Pages :32 pages Book Rating :4.E/5 ( download)
Book Synopsis Fitting Equilibrium Search Models to Labor Market Data by : Audra J. Bowlus
Download or read book Fitting Equilibrium Search Models to Labor Market Data written by Audra J. Bowlus and published by London : Department of Economics, University of Western Ontario. This book was released on 1995 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Measuring Productivity Differences in Equilibrium Search Models by : Gauthier Lanot
Download or read book Measuring Productivity Differences in Equilibrium Search Models written by Gauthier Lanot and published by . This book was released on 1996 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Equilibrium Unemployment with Wage Posting: Burdett-Mortensen Meet Pissarides by : Dale Mortensen
Download or read book Equilibrium Unemployment with Wage Posting: Burdett-Mortensen Meet Pissarides written by Dale Mortensen and published by . This book was released on 1998 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Equilibrium Wage and Employment Dynamics in a Model of Wage Posting Without Commitment by : Melvyn G. Coles
Download or read book Equilibrium Wage and Employment Dynamics in a Model of Wage Posting Without Commitment written by Melvyn G. Coles and published by . This book was released on 2011 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis General Equilibrium Wage and Price Distributions by :
Download or read book General Equilibrium Wage and Price Distributions written by and published by . This book was released on 1986 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The New Economics of Income Distribution by : Friedrich L. Sell
Download or read book The New Economics of Income Distribution written by Friedrich L. Sell and published by Edward Elgar Publishing. This book was released on 2015-06-29 with total page 279 pages. Available in PDF, EPUB and Kindle. Book excerpt: With the increased interest in the role of inequality in modern economies, this timely and original book explores income distribution as an equilibrium phenomenon. Though globalization tends to destroy earlier equilibria within industrialized and devel
Book Synopsis Equilibrium Wage Dispersion with Worker and Employer Heterogeneity by : Fabien Postel-Vinay
Download or read book Equilibrium Wage Dispersion with Worker and Employer Heterogeneity written by Fabien Postel-Vinay and published by . This book was released on 2002 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Wage Offer and Reservation Wage Distributions that are Consistent with General Equilibrium by : Michael Sattinger
Download or read book Wage Offer and Reservation Wage Distributions that are Consistent with General Equilibrium written by Michael Sattinger and published by . This book was released on 1985 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Labour Markets with Company Wage Policies by : Alan Manning
Download or read book Labour Markets with Company Wage Policies written by Alan Manning and published by . This book was released on 1994 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :Audra J. Bowlus Publisher :London : Department of Economics, University of Western Ontario ISBN 13 : Total Pages :52 pages Book Rating :4.:/5 (318 download)
Book Synopsis Discrimination and Skill Differences in an Equilibrium Search Model by : Audra J. Bowlus
Download or read book Discrimination and Skill Differences in an Equilibrium Search Model written by Audra J. Bowlus and published by London : Department of Economics, University of Western Ontario. This book was released on 1998 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Distribution of the Gender Wage Gap by : Sonia R. Bhalotra
Download or read book The Distribution of the Gender Wage Gap written by Sonia R. Bhalotra and published by . This book was released on 2022 with total page 109 pages. Available in PDF, EPUB and Kindle. Book excerpt: We develop an equilibrium model of the labor market to investigate the joint evolution of gender gaps in labor force participation and wages. We do this overall and by task-based occupation and skill, which allows us to study distributional effects. We structurally estimate the model using data from Mexico over a period during which women's participation increased by fifty percent. We provide new evidence that male and female labor are closer substitutes in high-paying analytical task-intensive occupations than in lower-paying manual and routine task-intensive occupations. We find that demand trends favored women, especially college-educated women. Consistent with these results, we see a widening of the gender wage gap at the lower end of the distribution, alongside a narrowing at the top. On the supply side, we find that increased appliance availability was the key driver of increases in the participation of unskilled women, and fertility decline a key driver for skilled women. The growth of appliances acted to widen the gender wage gap and the decline of fertility to narrow it. We also trace equilibrium impacts of growth in college attainment, which was more rapid among women, and of emigration, which was dominated by unskilled men. Our counterfactual estimates demonstrate that ignoring the countervailing effects of equilibrium wage adjustments on labor supplies, as is commonly done in the literature, can be misleading.
