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Author :
Publisher :
ISBN 13 : 9781280641701
Total Pages : 587 pages
Book Rating : 4.6/5 (417 download)
Download or read book Structural Models of Wage and Employment Dynamics written by and published by . This book was released on 2006 with total page 587 pages. Available in PDF, EPUB and Kindle. Book excerpt: A quantitative approach to economic problems of practical importance.
Author : Henning Bunzel
Publisher : Emerald Group Publishing
ISBN 13 : 0444520899
Total Pages : 613 pages
Book Rating : 4.4/5 (445 download)
Download or read book Structural Models of Wage and Employment Dynamics written by Henning Bunzel and published by Emerald Group Publishing. This book was released on 2006-03-30 with total page 613 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 :
ISBN 13 :
Total Pages : 100 pages
Book Rating : 4.3/5 ( download)
Download or read book New Methods for Analyzing Structural Models of Labor Force Dynamics written by Christopher J. Flinn and published by . This book was released on 1981 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper takes a first step toward developing econometric models for the structural analysis of labor force dynamics. Our analysis is presented in continuous time, although most of the points raised here can be applied to discrete time models. We show that in previous attempts to estimate "structural" models of job search, a key source of information necessary to identify certain structural parameters has been neglected. We discuss the conditions under which structural search models can be estimated. In particular, the wage offer distribution must be recoverable -- i.e., it must be the case that the parameters of the untruncated wage offer distribution be estimable from the truncated accepted wage distribution. The wage offer distribution must be assumed to belong to a parametric family. Estimates of structural parameters are shown to be sensitive to the distributional assumption made. A partial equilibrium two state model of employment dynamics is estimated, using data from the National Longitudinal Survey of Young Men. We find employment and nonemployment rates implied by the structural parameter estimates to be generally consistent with those observed for the population of young males.
Author : William A. Barnett
Publisher : Cambridge University Press
ISBN 13 : 0521333954
Total Pages : 389 pages
Book Rating : 4.5/5 (213 download)
Download or read book Dynamic Econometric Modeling written by William A. Barnett and published by Cambridge University Press. This book was released on 1988-06-24 with total page 389 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book brings together presentations of some of the fundamental new research in dynamic econometric modeling.
Author : Simon M. Burgess
Publisher :
ISBN 13 :
Total Pages : 48 pages
Book Rating : 4.E/5 ( download)
Download or read book Nonlinear Dynamics in a Structural Model of Employment written by Simon M. Burgess and published by . This book was released on 1991 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Mr.Yasser Abdih
Publisher : International Monetary Fund
ISBN 13 : 148436208X
Total Pages : 34 pages
Book Rating : 4.4/5 (843 download)
Download or read book Understanding U.S. Wage Dynamics written by Mr.Yasser Abdih and published by International Monetary Fund. This book was released on 2018-06-15 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 :
ISBN 13 :
Total Pages : 29 pages
Book Rating : 4.:/5 (746 download)
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.
Author : Nicholas M. Kiefer
Publisher : Cambridge University Press
ISBN 13 : 0521360536
Total Pages : 308 pages
Book Rating : 4.5/5 (213 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 308 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 : Olivier J. Blanchard
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (874 download)
Download or read book Empirical Structural Evidence on Wages, Prices and Employment in the US written by Olivier J. Blanchard and published by . This book was released on 1990 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper, I investigate US post war price, wage and employment dynamics by identifying and estimating a price and a wage equation. I reach the following two main conclusions: Nominal wages adjust faster to prices than prices do to nominal wages. This may be taken as evidence that price inertia is more important empirically than nominal wage inertia. The wage equation implies that the effect on wage inflation of a permanent increase in unemployment, given prices, is largely temporary. This can be interpreted in various ways. One is that, if the wage equation is interpreted as a Phillips curve, both the rate of change and the level of unemployment play an important role in wage determination. The methodology of the paper is somewhat different from the traditional approach to the estimation of price and wage equations. Its spirit is to impose on the reduced form a just identifying set of restrictions. In this way, a structural interpretation is made possible, while the data are left free to speak
Author : Joseph G. Altonji
Publisher :
ISBN 13 :
Total Pages : 82 pages
Book Rating : 4.E/5 ( download)
Download or read book Modeling Earnings Dynamics written by Joseph G. Altonji and published by . This book was released on 2009 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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
ISBN 13 : 1498316638
Total Pages : 26 pages
Book Rating : 4.4/5 (983 download)
Download or read book Wage-Price Dynamics and Structural Reforms in Japan written by Davide Porcellacchia and published by International Monetary Fund. This book was released on 2016-02-10 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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
ISBN 13 : 1136459480
Total Pages : 112 pages
Book Rating : 4.1/5 (364 download)
Download or read book Empirical Methods for the Study of Labour Force Dynamics written by Kenneth Wolpin and published by Routledge. This book was released on 2013-10-11 with total page 112 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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
ISBN 13 : 9780415269407
Total Pages : 112 pages
Book Rating : 4.2/5 (694 download)
Download or read book Empirical Methods for the Study of Labor Force Dynamics written by Kenneth I. Wolpin and published by Psychology Press. This book was released on 2001 with total page 112 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
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.
Author : Melvyn Glyn Coles
Publisher :
ISBN 13 :
Total Pages : 29 pages
Book Rating : 4.:/5 (746 download)
Download or read book Equilibrium wage and employment dynamics in a model of wage posting without commitment written by Melvyn Glyn 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.
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 : Randall E. Eberts
Publisher : Routledge
ISBN 13 : 1315488566
Total Pages : 248 pages
Book Rating : 4.3/5 (154 download)
Download or read book Structural Changes in U.S. Labour Markets: Causes and Consequences written by Randall E. Eberts and published by Routledge. This book was released on 2019-07-26 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: During much of the 1980s, US wage growth has been unexpectedly slow in the face of relatively low unemployment rates and high capacity utilization rates. This collection of papers resulting from the Wage Structure Conference held by the Federal Research Bank of Cleveland, November 1989, helps explain labour market behaviour in that period. The contributors - academic and research economists in labour economics - provide a comprehensive assessment of the current state of the wage-setting process in the US labour market.
