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Author : Dale Mortensen
Publisher :
ISBN 13 :
Total Pages : 100 pages
Book Rating : 4.:/5 (89 download)
Download or read book New Developments in Models of Search in the Labour Market written by Dale Mortensen and published by . This book was released on 1999 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Robert Shimer
Publisher : Princeton University Press
ISBN 13 : 1400835232
Total Pages : 189 pages
Book Rating : 4.4/5 (8 download)
Download or read book Labor Markets and Business Cycles written by Robert Shimer and published by Princeton University Press. This book was released on 2010-04-12 with total page 189 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Author : Christopher A. Pissarides
Publisher : MIT Press
ISBN 13 : 0262264064
Total Pages : 273 pages
Book Rating : 4.2/5 (622 download)
Download or read book Equilibrium Unemployment Theory, second edition written by Christopher A. Pissarides and published by MIT Press. This book was released on 2000-03-02 with total page 273 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book focuses on the modeling of the transitions in and out of unemployment, given the stochastic processes that break up jobs and lead to the formation of new jobs, and on the implications of this approach for macroeconomic equilibrium and for the efficiency of the labor market. An equilibrium theory of unemployment assumes that firms and workers maximize their payoffs under rational expectations and that wages are determined to exploit the private gains from trade. This book focuses on the modeling of the transitions in and out of unemployment, given the stochastic processes that break up jobs and lead to the formation of new jobs, and on the implications of this approach for macroeconomic equilibrium and for the efficiency of the labor market. This approach to labor market equilibrium and unemployment has been successful in explaining the determinants of the "natural" rate of unemployment and new data on job and worker flows, in modeling the labor market in equilibrium business cycle and growth models, and in analyzing welfare policy. The second edition contains two new chapters, one on endogenous job destruction and one on search on the job and job-to-job quitting. The rest of the book has been extensively rewritten and, in several cases, simplified.
Author : National Academies of Sciences, Engineering, and Medicine
Publisher : National Academies Press
ISBN 13 : 0309440068
Total Pages : 259 pages
Book Rating : 4.3/5 (94 download)
Download or read book Building America's Skilled Technical Workforce written by National Academies of Sciences, Engineering, and Medicine and published by National Academies Press. This book was released on 2017-06-04 with total page 259 pages. Available in PDF, EPUB and Kindle. Book excerpt: Skilled technical occupationsâ€"defined as occupations that require a high level of knowledge in a technical domain but do not require a bachelor's degree for entryâ€"are a key component of the U.S. economy. In response to globalization and advances in science and technology, American firms are demanding workers with greater proficiency in literacy and numeracy, as well as strong interpersonal, technical, and problem-solving skills. However, employer surveys and industry and government reports have raised concerns that the nation may not have an adequate supply of skilled technical workers to achieve its competitiveness and economic growth objectives. In response to the broader need for policy information and advice, Building America's Skilled Technical Workforce examines the coverage, effectiveness, flexibility, and coordination of the policies and various programs that prepare Americans for skilled technical jobs. This report provides action-oriented recommendations for improving the American system of technical education, training, and certification.
Author : Nicolas Petrosky-Nadeau
Publisher : MIT Press
ISBN 13 : 0262036452
Total Pages : 271 pages
Book Rating : 4.2/5 (62 download)
Download or read book Labor, Credit, and Goods Markets written by Nicolas Petrosky-Nadeau and published by MIT Press. This book was released on 2017-11-10 with total page 271 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Author : Barbara Petrongolo
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (136 download)
Download or read book Looking Into the Black Box written by Barbara Petrongolo and published by . This book was released on 2000 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Dale Mortensen
Publisher : MIT Press
ISBN 13 : 9780262633192
Total Pages : 170 pages
Book Rating : 4.6/5 (331 download)
Download or read book Wage Dispersion written by Dale Mortensen and published by MIT Press. This book was released on 2003 with total page 170 pages. Available in PDF, EPUB and Kindle. Book excerpt: A theoretical and empirical examination of wage differentials findsthat traditional theories of competition do not explain why workers with identical skills are paid differently.
Author : Brian McCall
Publisher : Routledge
ISBN 13 : 1134422350
Total Pages : 574 pages
Book Rating : 4.1/5 (344 download)
Download or read book The Economics of Search written by Brian McCall and published by Routledge. This book was released on 2007-12-20 with total page 574 pages. Available in PDF, EPUB and Kindle. Book excerpt: The economics of search is a prominent component of economic theory, and it has a richness and elegance that underpins a host of practical applications. In this book Brian and John McCall present a comprehensive overview of the economic theory of search, from the classical model of job search formulated 40 years ago to the recent developments in equilibrium models of search. The book gives decision-theoretic foundations to seemingly slippery issues in labour market theory, estimation theory and economic dynamics in general, and surveys the entire field of the economics of search, including its history, theory, and econometric applications. Theoretical models of the economics of search are covered as well as estimation methods used in search theory and topics covered include job search, turnover, unemployment, liquidity, house selling, real options and auctions. The mathematical methods used in search theory such as dynamic programming are reviewed as well as structural estimation methods and econometric methods for duration models. The authors also explore the classic sequential search model and its extensions in addition to recent advances in equilibrium search theory.
Author : Dale T. Mortensen
Publisher : Oxford University Press, USA
ISBN 13 : 0199233780
Total Pages : 219 pages
Book Rating : 4.1/5 (992 download)
Download or read book Job Matching, Wage Dispersion, and Unemployment written by Dale T. Mortensen and published by Oxford University Press, USA. This book was released on 2011-04-28 with total page 219 pages. Available in PDF, EPUB and Kindle. Book excerpt: A selection of key papers from the winners of the Nobel Memorial Prize 2010. It features their most important work on unemployment, labour market dynamics, and the equilibrium search model.
Author : D Sapsford
Publisher : Routledge
ISBN 13 : 1135045585
Total Pages : 259 pages
Book Rating : 4.1/5 (35 download)
Download or read book Labour Market Economics (Routledge Revivals) written by D Sapsford and published by Routledge. This book was released on 2013-04-17 with total page 259 pages. Available in PDF, EPUB and Kindle. Book excerpt: First published in 1981, Labour Market Economics develops the basic economic theory of introductory courses within the context of labour market analysis and applies it both to particular features and special problems of the subject. The author begins by outlining the nature of the area and the structure of the UK labour market at the time, and proceeds to explain and elaborate the tools of theoretical analysis. These are then applied in subsequent chapters to a variety of issues, including the economic analysis of trade unions, collective bargaining and the effects of unions, unemployment, wage inflation and the inequality of pay. Throughout the book, emphasis is placed on the economic theory of the labour market and the role of empirical work in testing its predictions, and wherever available, evidence from studies of the UK labour markets is cited.
Author : Nicholas M. Kiefer
Publisher : Cambridge University Press
ISBN 13 : 9780521360531
Total Pages : 38 pages
Book Rating : 4.3/5 (65 download)
Download or read book Search Models and Applied Labor Economics written by Nicholas M. Kiefer and published by Cambridge University Press. This book was released on 1989-02-24 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: This collection of papers marks the development of empirical application of the search approach to labor economics--an approach which arose as a theoretical development of the 1960s and led to numerous insights in the 1970s. The search approach naturally incorporates uncertainty in the economic model, making up some of the early work in what is now called "the economics of information." Included are econometric issues such as estimation and specification of search models for wages and unemployment duration, continuous time models of turnover, and identification of structural parameters. Applications to policy questions including Unemployment Insurance and wage subsidy programs are given, and data collection issues are discussed within the search framework.
Author : Christopher J. Flinn
Publisher : MIT Press
ISBN 13 : 0262288761
Total Pages : 321 pages
Book Rating : 4.2/5 (622 download)
Download or read book The Minimum Wage and Labor Market Outcomes written by Christopher J. Flinn and published by MIT Press. This book was released on 2011-02-04 with total page 321 pages. Available in PDF, EPUB and Kindle. Book excerpt: The introduction of a search and bargaining model to assess the welfare effects of minimum wage changes and to determine an “optimal” minimum wage. In The Minimum Wage and Labor Market Outcomes, Christopher Flinn argues that in assessing the effects of the minimum wage (in the United States and elsewhere), a behavioral framework is invaluable for guiding empirical work and the interpretation of results. Flinn develops a job search and wage bargaining model that is capable of generating labor market outcomes consistent with observed wage and unemployment duration distributions, and also can account for observed changes in employment rates and wages after a minimum wage change. Flinn uses previous studies from the minimum wage literature to demonstrate how his model can be used to rationalize and synthesize the diverse results found in widely varying institutional contexts. He also shows how observed wage distributions from before and after a minimum wage change can be used to determine if the change was welfare-improving. More ambitiously, and perhaps controversially, Flinn proposes the construction and formal estimation of the model using commonly available data; model estimates then enable the researcher to determine directly the welfare effects of observed minimum wage changes. This model can be used to conduct counterfactual policy experiments—even to determine “optimal” minimum wages under a variety of welfare metrics. The development of the model and the econometric theory underlying its estimation are carefully presented so as to enable readers unfamiliar with the econometrics of point process models and dynamic optimization in continuous time to follow the arguments. Although most of the book focuses on the case where only the unemployed search for jobs in a homogeneous labor market environment, later chapters introduce on-the-job search into the model, and explore its implications for minimum wage policy. The book also contains a chapter describing how individual heterogeneity can be introduced into the search, matching, and bargaining framework.
Author :
Publisher : Springer
ISBN 13 : 1349588024
Total Pages : 7493 pages
Book Rating : 4.3/5 (495 download)
Download or read book The New Palgrave Dictionary of Economics written by and published by Springer. This book was released on 2016-05-18 with total page 7493 pages. Available in PDF, EPUB and Kindle. Book excerpt: The award-winning The New Palgrave Dictionary of Economics, 2nd edition is now available as a dynamic online resource. Consisting of over 1,900 articles written by leading figures in the field including Nobel prize winners, this is the definitive scholarly reference work for a new generation of economists. Regularly updated! This product is a subscription based product.
Author : National Academy of Engineering
Publisher : National Academies Press
ISBN 13 : 0309485606
Total Pages : 223 pages
Book Rating : 4.3/5 (94 download)
Download or read book Understanding the Educational and Career Pathways of Engineers written by National Academy of Engineering and published by National Academies Press. This book was released on 2019-01-26 with total page 223 pages. Available in PDF, EPUB and Kindle. Book excerpt: Engineering skills and knowledge are foundational to technological innovation and development that drive long-term economic growth and help solve societal challenges. Therefore, to ensure national competitiveness and quality of life it is important to understand and to continuously adapt and improve the educational and career pathways of engineers in the United States. To gather this understanding it is necessary to study the people with the engineering skills and knowledge as well as the evolving system of institutions, policies, markets, people, and other resources that together prepare, deploy, and replenish the nation's engineering workforce. This report explores the characteristics and career choices of engineering graduates, particularly those with a BS or MS degree, who constitute the vast majority of degreed engineers, as well as the characteristics of those with non-engineering degrees who are employed as engineers in the United States. It provides insight into their educational and career pathways and related decision making, the forces that influence their decisions, and the implications for major elements of engineering education-to-workforce pathways.
Author : Mr.Robert P. Flood
Publisher : International Monetary Fund
ISBN 13 : 1451973799
Total Pages : 204 pages
Book Rating : 4.4/5 (519 download)
Download or read book IMF Staff Papers, Volume 48, No. 3 written by Mr.Robert P. Flood and published by International Monetary Fund. This book was released on 2002-01-18 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes the financial implications of the 1956 crisis of nationalization of the Suez Canal by Egypt. It examines the regional distribution of public employment in Italy. The paper quantifies the impact of changes in the U.S. monetary policy on sovereign bond spreads in emerging market countries. Specifically, the paper explores empirically how country risk, as proxied by sovereign bond spreads, is influenced by U.S. monetary policy, country-specific fundamentals, and conditions in global capital markets. Modeling the IMF’s statistical discrepancy in the global current account is also discussed.
Author : Tito Boeri
Publisher : Princeton University Press
ISBN 13 : 0691158932
Total Pages : 464 pages
Book Rating : 4.6/5 (911 download)
Download or read book The Economics of Imperfect Labor Markets written by Tito Boeri and published by Princeton University Press. This book was released on 2013-09-24 with total page 464 pages. Available in PDF, EPUB and Kindle. Book excerpt: Most labor economics textbooks pay little attention to actual labor markets, taking as reference a perfectly competitive market in which losing a job is not a big deal. The Economics of Imperfect Labor Markets is the only textbook to focus on imperfect labor markets and to provide a systematic framework for analyzing how labor market institutions operate. This expanded, updated, and thoroughly revised second edition includes a new chapter on labor-market discrimination; quantitative examples; data and programming files enabling users to replicate key results of the literature; exercises at the end of each chapter; and expanded technical appendixes. The Economics of Imperfect Labor Markets examines the many institutions that affect the behavior of workers and employers in imperfect labor markets. These include minimum wages, employment protection legislation, unemployment benefits, active labor market policies, working-time regulations, family policies, equal opportunity legislation, collective bargaining, early retirement programs, education and migration policies, payroll taxes, and employment-conditional incentives. Written for advanced undergraduates and beginning graduate students, the book carefully defines and measures these institutions to accurately characterize their effects, and discusses how these institutions are today being changed by political and economic forces. Expanded, thoroughly revised second edition New chapter on labor-market discrimination New quantitative examples New data sets enabling users to replicate key results of the literature New end-of-chapter exercises Expanded technical appendixes Unique focus on institutions in imperfect labor markets Integrated framework and systematic coverage Self-contained chapters on each of the most important labor-market institutions
Author : Kenneth George Binmore
Publisher :
ISBN 13 :
Total Pages : 48 pages
Book Rating : 4.F/5 ( download)
Download or read book The Nash Bargaining Solution in Economic Modelling written by Kenneth George Binmore and published by . This book was released on 1985 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
