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Author : James Pemberton
Publisher :
ISBN 13 :
Total Pages : 31 pages
Book Rating : 4.:/5 (254 download)
Download or read book Equilibrium Unemployment in a Two-sector Model written by James Pemberton and published by . This book was released on 1982 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : James Pemberton
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (17 download)
Download or read book Equilibrium unemployment in two-sector model written by James Pemberton and published by . This book was released on 1982 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Edmund S. Phelps
Publisher : Harvard University Press
ISBN 13 : 9780674843738
Total Pages : 444 pages
Book Rating : 4.8/5 (437 download)
Download or read book Structural Slumps written by Edmund S. Phelps and published by Harvard University Press. This book was released on 1994 with total page 444 pages. Available in PDF, EPUB and Kindle. Book excerpt: Dissatisfied with the explanations of the business cycle provided by the Keynesian, monetarist, New Keynesian, and real business cycle schools, Edmund Phelps has developed from various existing strands-some modern and some classical--a radically different theory to account for the long periods of unemployment that have dogged the economies of the United States and Western Europe since the early 1970s. Phelps sees secular shifts and long swings of the unemployment rate as structural in nature. That is, they are typically the result of movements in the natural rate of unemployment (to which the equilibrium path is always tending) rather than of long-persisting deviations around a natural rate itself impervious to changing structure. What has been lacking is a "structuralist" theory of how the natural rate is disturbed by real demand and supply shocks, foreign and domestic, and the adjustments they set in motion. To study the determination of the natural rate path, Phelps constructs three stylized general equilibrium models, each one built around a distinct kind of asset in which firms invest and which is important for the hiring decision. An element of these models is the modern economics of the labor market whereby firms, in seeking to dampen their employees' propensities to quit and shirk, drive wages above market-clearing levels-the phenomenon of the "incentive wage"--and so generate involuntary unemployment in labor-market equilibrium. Another element is the capital market, where interest rates are disturbed by demand and supply shocks such as shifts in profitability, thrift, productivity, and the rate of technical progress and population increase. A general-equilibrium analysis shows how various real shocks, operating through interest rates upon the demand for employees and through the propensity to quit and shirk upon the incentive wage, act upon the natural rate (and thus equilibrium path). In an econometric and historical section, the new theory of economic activity is submitted to certain empirical tests against global postwar data. In the final section the author draws from the theory some suggestions for government policy measures that would best serve to combat structural slumps.
Author : Bharat R. Hazari
Publisher : Springer Science & Business Media
ISBN 13 : 1475733798
Total Pages : 274 pages
Book Rating : 4.4/5 (757 download)
Download or read book Migration, Unemployment and Trade written by Bharat R. Hazari and published by Springer Science & Business Media. This book was released on 2013-03-09 with total page 274 pages. Available in PDF, EPUB and Kindle. Book excerpt: Migration, Unemployment and Trade focuses on the issues of migration, welfare and unemployment in a trade and development framework. Several chapters of the book analyze the implications of internal labor mobility in a model designed to highlight its implications for regional welfare, urban unemployment, rural-urban dichotomy and structural adjustment. An important innovation in this work is the disaggregation of the economy and the use of separate utility functions to highlight non-homogeneity of preferences. The book also deals with international mobility of factors in different frameworks. In particular it concentrates on the highly emotive issue of legal and illegal migration. Thus this work incorporates interesting and important features of labor economics and factor mobility into trade and distortion theory.
Author : Carl Davidson
Publisher : Princeton University Press
ISBN 13 : 0691125597
Total Pages : 433 pages
Book Rating : 4.6/5 (911 download)
Download or read book International Trade with Equilibrium Unemployment written by Carl Davidson and published by Princeton University Press. This book was released on 2010 with total page 433 pages. Available in PDF, EPUB and Kindle. Book excerpt: While most standard economic models of international trade assume full employment, Carl Davidson and Steven Matusz have argued over the past two decades that this reliance on full-employment modeling is misleading and ill-equipped to tackle many important trade-related questions. This book brings together the authors' pioneering work in creating models that more accurately reflect the real-world connections between international trade and labor markets. The material collected here presents the theoretical and empirical foundations of equilibrium unemployment modeling, which the authors and their collaborators developed to give researchers and policymakers a more realistic picture of how international trade affects labor markets, and of how transnational differences in labor markets affect international trade. They address the shortcomings of standard models, describe the empirics that underlie equilibrium unemployment models, and illustrate how these new models can yield vital insights into the relationship between international trade and employment. This volume also includes an indispensable general introduction as well as concise section introductions that put the authors' work in context and reveal the thinking behind their ideas. Economists are only now realizing just how important these ideas are, making this book essential reading for researchers and students.
Author : Mr.Dimitri G. Demekas
Publisher : International Monetary Fund
ISBN 13 : 1451979134
Total Pages : 32 pages
Book Rating : 4.4/5 (519 download)
Download or read book Labor Market Segmentation in a Two-Sector Model of An Open Economy written by Mr.Dimitri G. Demekas and published by International Monetary Fund. This book was released on 1990-04-01 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper examines formally the effects of labor market segmentation in a two-sector open economy model. The model demonstrates how the structure of the labor market affects the real exchange rate, defined as the relative price of traded and home goods, and is then used to examine the effects of two common labor market policies: increasing the degree of primary market coverage, and implementing wage restraint in the primary market. It is shown that increasing the degree of primary market coverage increases unemployment and leads to a real appreciation. Real wage restraint in the primary market, on the other hand, reduces unemployment, and has ambiguous but probably small effects on the real exchange rate.
Author : Roger Backhouse
Publisher :
ISBN 13 :
Total Pages : 20 pages
Book Rating : 4.:/5 (571 download)
Download or read book Temporary Equilibrium with a Rationing in a Two Sector Model written by Roger Backhouse and published by . This book was released on 1979 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Christopher J. Ellis
Publisher :
ISBN 13 :
Total Pages : 27 pages
Book Rating : 4.:/5 (125 download)
Download or read book A Two Sector Temporary Equilibrium Model with Bilateral Monopoly in One Sector written by Christopher J. Ellis and published by . This book was released on 1981* with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Stephen A. Woodbury
Publisher : Springer Science & Business Media
ISBN 13 : 9401002355
Total Pages : 244 pages
Book Rating : 4.4/5 (1 download)
Download or read book Search Theory and Unemployment written by Stephen A. Woodbury and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt: Search Theory and Unemployment contains nine chapters that survey and extend the theory of job search and its application to the problem of unemployment. The volume ranges from surveys of job search theory that take microeconomic and macroeconomic perspectives to original theoretical contributions which focus on the externalities arising from non-sequential search and search under imperfect information. It includes a clear and authoritative survey of econometric methods that have been developed to estimate models of job search, as well as two lucid contributions to the empirical search literature. Finally, it includes a study that reviews and extends the literature on optimal unemployment insurance and concludes with an appraisal of the influence of search theory on the thinking of macroeconomic policymakers.
Author : Charles van Marrewijk
Publisher : Ashgate Publishing
ISBN 13 :
Total Pages : 184 pages
Book Rating : 4.3/5 (91 download)
Download or read book Disequilibrium Growth Theory written by Charles van Marrewijk and published by Ashgate Publishing. This book was released on 1993 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt: Static disequilibrium economic theory fails to analyse the dynamic effects of market disequilibrium, whereas standard growth theory always assumes markets to be in equilibrium. Both shortcomings can be overcome by disequilibrium growth theory. A problem arises, however, because different short term disequilibrium regimes give rise to differential equations. The dynamic analysis, therefore, has to take into consideration the possibility of regime switching. Various solutions have been put forward for this problem, but they generally do not give unique solutions. The method developed by Filippov gives a unique solution that coincides with the classical solution to differential equations in the interior of the regimes. This approach has been used in several papers in the past decade. This book seeks to fill the gap in the literature on what has been achieved so far.
Author : Harry Gordon Johnson
Publisher :
ISBN 13 : 9780202806044
Total Pages : 118 pages
Book Rating : 4.8/5 (6 download)
Download or read book The Two-sector Model of General Equilibrium written by Harry Gordon Johnson and published by . This book was released on 1971 with total page 118 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Subhasankar Chattopadhyay
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Growth, Income Distribution and Unemployment in a Two-Sector Economy written by Subhasankar Chattopadhyay and published by . This book was released on 2020 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We build a two-sector general equilibrium growth model with capital-intensive consumption goods and a labour-intensive investment goods sector to investigate the coexistence of growth and unemployment. The model uses heterogeneity in saving behaviour, introduces an effective demand problem, has full employment of capital with input non-substitutability and shows that the aggregate labour employment is determined by available capital along with commodity market equilibrium. The long-run growth may not be balanced, and under biased growth, the level of unemployment may monotonically increase or decrease over time, or may first increase (decrease) and then decrease (increase). Such possible unemployment paths help us tightly define “jobless growth”
Author : James Albrecht
Publisher :
ISBN 13 :
Total Pages : 38 pages
Book Rating : 4.:/5 (13 download)
Download or read book Public-Sector Employment in an Equilibrium Search and Matching Model written by James Albrecht and published by . This book was released on 2017 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: We extend the Diamond-Mortensen-Pissarides model of equilibrium unemployment to incorporate public-sector employment. We calibrate our model to Colombian data and analyze the effects of public-sector wage and employment policy on the unemployment rate, on the division of employment between the private and public sectors, and on the distributions of wages in the two sectors.
Author : Eran Yashiv
Publisher :
ISBN 13 :
Total Pages : 84 pages
Book Rating : 4.3/5 ( download)
Download or read book The Determinants of Equilibrium Unemployment written by Eran Yashiv and published by . This book was released on 1995 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Pabir C. Bhattacharya
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (597 download)
Download or read book Wage Flexibility and Unemployment in a Two-sector Model written by Pabir C. Bhattacharya and published by . This book was released on 1989 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Christopher Pissarides
Publisher : Mit Press
ISBN 13 : 9780262533980
Total Pages : 272 pages
Book Rating : 4.5/5 (339 download)
Download or read book Equilibrium Unemployment Theory written by Christopher Pissarides and published by Mit Press. This book was released on 2017-02 with total page 272 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 : J. Pemberton
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (59 download)
Download or read book A Two-sector Model of Inflation, Unemployment and Aggregate Demand written by J. Pemberton and published by . This book was released on 1981 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
