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Endogenous On The Job Search And Frictional Wage Dispersion
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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 :Herman Royer Professor of Political Economy David H Romer Publisher :Brookings Institution Press ISBN 13 :0815723717 Total Pages :425 pages Book Rating :4.8/5 (157 download)
Book Synopsis Brookings Papers on Economic Activity: Fall 2011 by : Herman Royer Professor of Political Economy David H Romer
Download or read book Brookings Papers on Economic Activity: Fall 2011 written by Herman Royer Professor of Political Economy David H Romer and published by Brookings Institution Press. This book was released on 2012-05-04 with total page 425 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Brookings Papers on Economic Activity" (BPEA) provides academic and business economists, government officials, and members of the financial and business communities with timely research on current economic issues. Contents include - Recessions and the Costs of Job Loss Steve Davis (University of Chicago) and Til von Wachter (Columbia University) - What Do Small Businesses Do? Erik Hurst and Benjamin Wild Pugsley (University of Chicago) - Unemployment Insurance and Job Search in the Great Recession Jesse Rothstein (University of California-Berkeley) - The Effects of Quantitative Easing on Interest Rates: Channels and Implications for Policy Arvind Krishnamurthy and Annette Vissing-Jorgenson (Northwestern University) - Practical Monetary Policy: Examples from Sweden and the United States Lars E. O. Svensson (Sveriges Riksbank) - The Labor Market in the Great Recession--An Update to September 2011 Michael. W. L. Elsby (University of Edinburgh), Bart Hobijn (Federal Reserve Bank of San Francisco), Ay egul ahin (Federal Reserve Bank of New York), and Robert B. Valletta (Federal Reserve Bank of San Francisco) - The Income- and Expenditure-Side Estimates of U.S. Output Growth--An Update to 2011Q2 Jeremy J. Nalewaik (Board of Governors of the Federal Reserve System)"
Book Synopsis Looking Into the Black Box by : Barbara Petrongolo
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:
Book Synopsis The Economics of Search by : Brian McCall
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.
Download or read book The Minimum Wage written by Uma Kukathas and published by Greenhaven Publishing. This book was released on 2009-10-30 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Contentious issues such as the death penalty, civil liberties, and reproductive rights touch on peoples deeply held beliefs. Greenhaven Presss Issues on Trial series captures the passion and depth of those debates, examining how the courts have helped to shape each issue through their rulings. Each volume focuses on a specific issue and includes primary sources like the text of court rulings and dissenting opinions, as well as secondary sources such as analyses and views of the rulings. Offering both historical and contemporary material, each Issues on Trial volume offers a wealth of information on issues currently conforming society. Book jacket.
Book Synopsis Monopsony in Motion by : Alan Manning
Download or read book Monopsony in Motion written by Alan Manning and published by Princeton University Press. This book was released on 2013-12-03 with total page 414 pages. Available in PDF, EPUB and Kindle. Book excerpt: What happens if an employer cuts wages by one cent? Much of labor economics is built on the assumption that all the workers will quit immediately. Here, Alan Manning mounts a systematic challenge to the standard model of perfect competition. Monopsony in Motion stands apart by analyzing labor markets from the real-world perspective that employers have significant market (or monopsony) power over their workers. Arguing that this power derives from frictions in the labor market that make it time-consuming and costly for workers to change jobs, Manning re-examines much of labor economics based on this alternative and equally plausible assumption. The book addresses the theoretical implications of monopsony and presents a wealth of empirical evidence. Our understanding of the distribution of wages, unemployment, and human capital can all be improved by recognizing that employers have some monopsony power over their workers. Also considered are policy issues including the minimum wage, equal pay legislation, and caps on working hours. In a monopsonistic labor market, concludes Manning, the "free" market can no longer be sustained as an ideal and labor economists need to be more open-minded in their evaluation of labor market policies. Monopsony in Motion will represent for some a new fundamental text in the advanced study of labor economics, and for others, an invaluable alternative perspective that henceforth must be taken into account in any serious consideration of the subject.
Book Synopsis The Concept of Equilibrium in Different Economic Traditions by : Bert Tieben
Download or read book The Concept of Equilibrium in Different Economic Traditions written by Bert Tieben and published by Edward Elgar Publishing. This book was released on 2012-07-01 with total page 689 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'Bert Tieben is very well read in the history of economic thought and provides an overview of one of the basic concepts of economics that is unrivalled both in its scope and in its thoughtful and detailed discussion of the various currents and schools. It goes right to the heart of economic theory and asks some pertinent questions about the limits and the future of economic theorizing. That is, I think, what sets it apart from many other studies in the history of economic thought: it is history with an eye to the future, and it does all this without making any demands on the mathematical skills of the reader. This book should therefore appeal to everybody who is interested in the methodology of economics and in exploring the boundaries of economic analysis.' Hans Visser, VU University, Amsterdam, The Netherlands This book deals with one of the most puzzling concepts in economic science, that of economic equilibrium. In modern economics, equilibrium is considered a key assumption, but its role is contested by economists both from within the mainstream and from rival schools of thought. What explains the contradictory assessments of the equilibrium concept in economics? Do economists belonging to different traditions disagree about the definition of equilibrium or do they adopt different rules for assessing scientific status? In this unique and exhaustive study, Bert Tieben answers these questions by investigating the history of equilibrium economics from 1700 to the present day. He concludes that ideology strongly coloured the development of this branch of theory, helping to explain the vehemence of the debates surrounding the concept. He also argues that scientific progress in economics may indeed be fostered by such opposition and contention, and calls for cross fertilization and stronger cooperation between the different schools of thought. This resourceful book will appeal to post graduate students and scholars in the history of economic thought and economic methodology. Both neoclassical and heterodox economists, most notably Austrian, post Keynesian and institutional economists, will also find much to interest them.
Book Synopsis Equilibrium Unemployment Theory, second edition by : Christopher A. Pissarides
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.
Book Synopsis Handbook of Economic Growth by : Philippe Aghion
Download or read book Handbook of Economic Growth written by Philippe Aghion and published by Elsevier. This book was released on 2005-12-21 with total page 839 pages. Available in PDF, EPUB and Kindle. Book excerpt: Featuring survey articles by leading economists working on growth theory, this two-volume set covers theories of economic growth, the empirics of economic growth, and growth policies and mechanisms. It also covers technology, trade and geography, and growth and socio-economic development.
Book Synopsis Financial Disruptions and the Cyclical Upgrading of Labor by : Brendan Epstein
Download or read book Financial Disruptions and the Cyclical Upgrading of Labor written by Brendan Epstein and published by International Monetary Fund. This book was released on 2017-06-08 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: Amid total factor productivity (TFP) shocks job-to-job flows amplify the volatility of unemployment, but the aggregate implications of job-to-job flows amid financial shocks are less understood. To develop such understanding we model a general equilibrium labor-search framework that incorporates on-the-job (OTJ) search and distinctly accounts for the differential impact of TFP and financial shocks. Surprisingly, we find that the interaction of OTJ search with financial shocks is sufficiently different from its interaction with TFP shocks so that, under standard calibrations, our model generates aggregate dynamics exceedingly in line with the behavior of key U.S. macro data across several decades and in the wake of the Global Financial Crisis as well. Importantly, as in the data, the model yields relatively high volatilities of consumption, labor income, and unemployment. As such, our work contributes to resolving two limitations of current general equilibrium labor-search theory: under standard calibrations models without OTJ search generate implausibly low unemployment volatility, while models with OTJ search generate unemployment volatility closer to the data but at the expense of implausibly low consumption and labor-income volatility.
Book Synopsis Globalization and Unemployment by : Helmut M. Wagner
Download or read book Globalization and Unemployment written by Helmut M. Wagner and published by Springer Science & Business Media. This book was released on 2013-03-14 with total page 385 pages. Available in PDF, EPUB and Kindle. Book excerpt: Globalization and unemployment are two phenomena which are amongst the most widely discussed subjects in the economic debate today. Often, globalization is regarded as being responsible for the increase in unemployment, particularly in unskilled labor. This book deals with the correlation between globalization and unemployment under various aspects: historical aspects of globalization, empirical trends and theoretical explanations of unemployment, effects of globalization in general and of European Monetary Union in particular on umemployment, labor market policy in a global economy, the impact of fiscal policy on unemployment in a global economy, as well as the effects of globalization on inflation and national stabilization policy.
Book Synopsis Inequality and the Labor Market by : Sharon Block
Download or read book Inequality and the Labor Market written by Sharon Block and published by Brookings Institution Press. This book was released on 2021-04-06 with total page 263 pages. Available in PDF, EPUB and Kindle. Book excerpt: Exploring a new agenda to improve outcomes for American workers As the United States continues to struggle with the impact of the devastating COVID-19 recession, policymakers have an opportunity to redress the competition problems in our labor markets. Making the right policy choices, however, requires a deep understanding of long-term, multidimensional problems. That will be solved only by looking to the failures and unrealized opportunities in anti-trust and labor law. For decades, competition in the U.S. labor market has declined, with the result that American workers have experienced slow wage growth and diminishing job quality. While sluggish productivity growth, rising globalization, and declining union representation are traditionally cited as factors for this historic imbalance in economic power, weak competition in the labor market is increasingly being recognized as a factor as well. This book by noted experts frames the legal and economic consequences of this imbalance and presents a series of urgently needed reforms of both labor and anti-trust laws to improve outcomes for American workers. These include higher wages, safer workplaces, increased ability to report labor violations, greater mobility, more opportunities for workers to build power, and overall better labor protections. Inequality in the Labor Market will interest anyone who cares about building a progressive economic agenda or who has a marked interest in labor policy. It also will appeal to anyone hoping to influence or anticipate the much-needed progressive agenda for the United States. The book's unusual scope provides prescriptions that, as Nobel Laureate Joseph Stiglitz notes in the introduction, map a path for rebalancing power, not just in our economy but in our democracy.
Book Synopsis Good Jobs Wanted by : Inter-American Development Bank
Download or read book Good Jobs Wanted written by Inter-American Development Bank and published by IDB. This book was released on 2003 with total page 330 pages. Available in PDF, EPUB and Kindle. Book excerpt: Annotation There is a widespread perception that the structural reforms implemented in Latin America in the 1990s have failed to spur employment growth. This perception is fueled by rising unemployment, slow wage growth, rising wage inequalities and a heightened sense of economic insecurity. This year's edition of Economic and Social Progress in Latin America investigates whether this disappointing outcome can be explained by an abnormal adjustment to rapid changes in goods and capital markets, increased female participation in the workplace, technological change, and secular changes in the sector composition of output. In particular, the book examines whether there are important demands for change that are being thwarted by inappropriate institutions and rigidities. The report documents unemployment and underemployment, employment creation and destruction, productivity growth, and the wage level and inequality. It includes a CD-ROM with data on labor markets in the region.
Author :National Academies of Sciences, Engineering, and Medicine Publisher :National Academies Press ISBN 13 :0309444454 Total Pages :643 pages Book Rating :4.3/5 (94 download)
Book Synopsis The Economic and Fiscal Consequences of Immigration by : National Academies of Sciences, Engineering, and Medicine
Download or read book The Economic and Fiscal Consequences of Immigration written by National Academies of Sciences, Engineering, and Medicine and published by National Academies Press. This book was released on 2017-07-13 with total page 643 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Economic and Fiscal Consequences of Immigration finds that the long-term impact of immigration on the wages and employment of native-born workers overall is very small, and that any negative impacts are most likely to be found for prior immigrants or native-born high school dropouts. First-generation immigrants are more costly to governments than are the native-born, but the second generation are among the strongest fiscal and economic contributors in the U.S. This report concludes that immigration has an overall positive impact on long-run economic growth in the U.S. More than 40 million people living in the United States were born in other countries, and almost an equal number have at least one foreign-born parent. Together, the first generation (foreign-born) and second generation (children of the foreign-born) comprise almost one in four Americans. It comes as little surprise, then, that many U.S. residents view immigration as a major policy issue facing the nation. Not only does immigration affect the environment in which everyone lives, learns, and works, but it also interacts with nearly every policy area of concern, from jobs and the economy, education, and health care, to federal, state, and local government budgets. The changing patterns of immigration and the evolving consequences for American society, institutions, and the economy continue to fuel public policy debate that plays out at the national, state, and local levels. The Economic and Fiscal Consequences of Immigration assesses the impact of dynamic immigration processes on economic and fiscal outcomes for the United States, a major destination of world population movements. This report will be a fundamental resource for policy makers and law makers at the federal, state, and local levels but extends to the general public, nongovernmental organizations, the business community, educational institutions, and the research community.
Book Synopsis Creating Decent Jobs by : Célestin Monga
Download or read book Creating Decent Jobs written by Célestin Monga and published by . This book was released on 2019-06-10 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :John M. Abowd Publisher :Université de Montréal, Centre de recherche et développement en économique ISBN 13 : Total Pages :94 pages Book Rating :4.:/5 (318 download)
Book Synopsis High Wage Workers and High Wage Firms by : John M. Abowd
Download or read book High Wage Workers and High Wage Firms written by John M. Abowd and published by Université de Montréal, Centre de recherche et développement en économique. This book was released on 1994 with total page 94 pages. Available in PDF, EPUB and Kindle. Book excerpt: We study a longitudinal sample of over one million French workers and over 500,000 employing firms. Real total annual compensation per worker is decomposed into components related to observable characteristics, worker heterogeneity, firm heterogeneity and residual variation. Except for the residual, all components may be correlated in an arbitrary fashion. At the level of the individual, we find that person-effects, especially those not related to observables like education, are the most important source of wage variation in France. Firm-effects, while important, are not as important as person-effects. At the level of firms, we find that enterprises that hire high-wage workers are more productive but not more profitable. They are also more capital and high-skilled employee intensive. Enterprises that pay higher wages, controlling for person-effects, are more productive and more profitable. They are also more capital intensive but are not more high-skilled labor intensive. We also find that person-effects explain 92% of inter-industry wage differentials.
Book Synopsis Handbook of Game Theory with Economic Applications by : R.J. Aumann
Download or read book Handbook of Game Theory with Economic Applications written by R.J. Aumann and published by Elsevier. This book was released on 1992 with total page 824 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the second of three volumes surveying the state of the art in Game Theory and its applications to many and varied fields, in particular to economics. The chapters in the present volume are contributed by outstanding authorities, and provide comprehensive coverage and precise statements of the main results in each area. The applications include empirical evidence. The following topics are covered: communication and correlated equilibria, coalitional games and coalition structures, utility and subjective probability, common knowledge, bargaining, zero-sum games, differential games, and applications of game theory to signalling, moral hazard, search, evolutionary biology, international relations, voting procedures, social choice, public economics, politics, and cost allocation. This handbook will be of interest to scholars in economics, political science, psychology, mathematics and biology. For more information on the Handbooks in Economics series, please see our home page on http://www.elsevier.nl/locate/hes
