Read Books Online and Download eBooks, EPub, PDF, Mobi, Kindle, Text Full Free.
Download Intertemporal Substitution Hypothesis And Labor Market Fluctuations full books in PDF, epub, and Kindle. Read online Intertemporal Substitution Hypothesis And Labor Market Fluctuations ebook anywhere anytime directly on your device. Fast Download speed and no annoying ads. We cannot guarantee that every ebooks is available!
Author : Ahmad Sohrabian
Publisher :
ISBN 13 :
Total Pages : 392 pages
Book Rating : 4.:/5 (213 download)
Download or read book Intertemporal Substitution Hypothesis and Labor Market Fluctuations written by Ahmad Sohrabian and published by . This book was released on 1983 with total page 392 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Joseph G. Altonji
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (589 download)
Download or read book The Intertemporal Substitution Model of Labor Market Fluctuations written by Joseph G. Altonji and published by . This book was released on 1981 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Joseph Gerard Altonji
Publisher :
ISBN 13 :
Total Pages : 438 pages
Book Rating : 4.:/5 (175 download)
Download or read book Intertemporal Substitution and Labor Market Fluctuations written by Joseph Gerard Altonji and published by . This book was released on 1981 with total page 438 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Robert E. Hall
Publisher :
ISBN 13 :
Total Pages : 60 pages
Book Rating : 4.3/5 (243 download)
Download or read book Labor-market Frictions and Employment Fluctuations written by Robert E. Hall and published by . This book was released on 1998 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: The labor market occupies center stage in modern theories of fluctuations. The most important phenomenon to explain and understand in a recession is the sharp decline in employment and jump in unemployment. This chapter for the Handbook of Macroeconomics considers explanations based on frictions in the labor market. Earlier research within the real business cycle paradigm considered frictionless labor markets where fluctuations in the volume of work effort represented substitution by households between work in the market and activities at home. A preliminary section of the chapter discusses why frictionless models are incomplete they fail to account for either the magnitude or persistence of fluctuations in employment. And the frictionless models fail completely to describe unemployment. The evidence suggests strongly that consideration of unemployment as a third use of time is critical for a realistic model. The two elements of a theory of unemployment are a mechanism for workers to lose or leave their jobs and an explanation for the time required for them to find new jobs. Theories of mechanism design or of continuous re-bargaining of employment terms provide the first. The theory of job search together with efficiency wages and related issues provides the second. Modern macro models incorporating these features come much closer than their predecessors to realistic and rigorous explanations of the magnitude and persistence of fluctuations.
Author : Dongweon Lee
Publisher :
ISBN 13 :
Total Pages : 55 pages
Book Rating : 4.:/5 (13 download)
Download or read book Elasticity of Intertemporal Substitution and Unemployment Volatility written by Dongweon Lee and published by . This book was released on 2014 with total page 55 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies how the elasticity of intertemporal substitution (EIS) influences labor market fluctuations in the labor search and matching model with both extensive and intensive margins of labor supply. With the curvature of utility, the countercyclical marginal utility of consumption induces the flow value of unemployment to be procyclical, and the stock returns to be countercyclical. The former effect reduces unemployment volatility by weakening wage rigidity. In contrast, the latter effect magnifies unemployment volatility by discounting higher future payoffs from hiring at a lower discount rate, if wages do not absorb all of productivity shocks. The higher EIS reduces the procyclicality of the flow value of unemployment, and reinforces the countercyclicality of the stock returns. We quantitatively show that a high level of the EIS is required to resolve the unemployment volatility puzzle.
Author : Per-Anders Edin
Publisher :
ISBN 13 :
Total Pages : 32 pages
Book Rating : 4.E/5 ( download)
Download or read book The Intertemporal Substitution Model of Labour Supply written by Per-Anders Edin and published by . This book was released on 1983 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Robert Ernest Hall
Publisher :
ISBN 13 :
Total Pages : 48 pages
Book Rating : 4.E/5 ( download)
Download or read book Labor Supply and Aggregate Functions written by Robert Ernest Hall and published by . This book was released on 1979 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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
Author : Kim B. Clark
Publisher :
ISBN 13 :
Total Pages : 70 pages
Book Rating : 4.3/5 (9 download)
Download or read book Labor Force Participation written by Kim B. Clark and published by . This book was released on 1982 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the relative importance of timing and persistence elements in explaining cyclical fluctuations in labor supply. Data from the natural experiment provided by World War I1 and cross-sectional data on American local labor markets, as well as aggregate time-series data are used in the empirical work. We find little evidence that timing effects play an important role in labor market dynamics. The evidence suggests that views emphasizing persistence are more accurate, and that previous employment tends to raise the probability of subsequent employment.
Author : Joao Ricardo Faria
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book The Intertemporal Substitution Model of Labor Supply in an Open Economy written by Joao Ricardo Faria and published by . This book was released on 2001 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The intertemporal substitution model of labor supply has been based on closed economy models. This paper studies the intertemporal substitution hypothesis in an open economy. It derives the long run labor supply as a function of the real wage, real interest rate and real exchange rate from a standard open economy optimizing representative agent model. The paper tests the steady state solution of the model for the US and, in order to avoid the Lucas critique, it tests for the superexogeneity of the interest rate and exchange rate. In accordance with the theory, the empirical evidence is supportive of the intertemporal substitution hypothesis, the significant impact of the real exchange rate, and is robust to the Lucas critique.
Download or read book The intertemporal Substituion Model of labor market fluctuations: An empirical analysis written by and published by . This book was released on 1981 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : George S. Alogoskoufis
Publisher :
ISBN 13 :
Total Pages : 40 pages
Book Rating : 4.E/5 ( download)
Download or read book Intertemporal Substitution and Labour Supply with Time Separable Preferences written by George S. Alogoskoufis and published by . This book was released on 1985 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Gilbert R. Ghez
Publisher : Columbia University Press
ISBN 13 :
Total Pages : 180 pages
Book Rating : 4.3/5 (91 download)
Download or read book The Allocation of Time and Goods Over the Life Cycle written by Gilbert R. Ghez and published by Columbia University Press. This book was released on 1975 with total page 180 pages. Available in PDF, EPUB and Kindle. Book excerpt: There is a belief now that family behavior over the life cycle can be analyzed by economic methods. This study deals with allocation of resources by families over time.
Author : Orley Ashenfelter
Publisher : Edward Elgar Publishing
ISBN 13 :
Total Pages : 534 pages
Book Rating : 4.F/5 ( download)
Download or read book Labor Economics written by Orley Ashenfelter and published by Edward Elgar Publishing. This book was released on 1995 with total page 534 pages. Available in PDF, EPUB and Kindle. Book excerpt: This four-volume set deals with labour economics. It is part of the Elgar series entitled The International Library of Critical Writings in Economics. It contains 80 articles, dating from 1958 to 1992.
Author : Donald H. Dutkowsky
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Intertemporal Substitution, Money, and Aggregate Labor Supply written by Donald H. Dutkowsky and published by . This book was released on 1998 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study investigates the macro-econometric credibility of the Intertemporal Substitution Hypothesis. It extends the usual formulation by considering money within the representative consumer's life cycle decision. We also provide measures of the real wage rate and asset returns based upon interpretation of the constraint as consumption-saving behavior. Estimation with quarterly U.S. data generates plausible and significant estimates of the structural parameters. The findings indicate elastic labor supply response to the wage rate but mixed results with respect to nominal returns. The estimates are reasonably robust to alternative measures of consumption, money, leisure, and rates of return.
Author : Joseph G. Altonji
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (589 download)
Download or read book Does the Labor Market Clear? written by Joseph G. Altonji and published by . This book was released on 1981 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Mahmood A. Zaidi
Publisher :
ISBN 13 :
Total Pages : 42 pages
Book Rating : 4.:/5 (319 download)
Download or read book Some Reflections on Theories of Unemployment in the North American Context written by Mahmood A. Zaidi and published by . This book was released on 1990 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Pierre-Richard Agénor
Publisher : International Monetary Fund
ISBN 13 : 1451854781
Total Pages : 98 pages
Book Rating : 4.4/5 (518 download)
Download or read book The Labor Market and Economic Adjustment written by Pierre-Richard Agénor and published by International Monetary Fund. This book was released on 1995-11-01 with total page 98 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the role of the labor market in the transmission process of adjustment policies in developing countries. It begins by reviewing the recent evidence regarding the functioning of these markets. It then studies the implications of wage inertia, nominal contracts, labor market segmentation, and impediments to labor mobility for stabilization policies. The effect of labor market reforms on economic flexibility and the channels through which labor market imperfections alter the effects of structural adjustment measures are discussed next. The last part of the paper identifies a variety of issues that may require further investigation, such as the link between changes in relative wages and the distributional effects of adjustment policies.
