Employment Fluctuations in a Dual Labor Market
Author | : James Costain |
Publisher | : |
Total Pages | : 68 |
Release | : 2010 |
Genre | : |
ISBN | : |
Download Employment Fluctuations in a Dual Labor Market Book in PDF, Epub and Kindle
Download Employment Fluctuations In A Dual Labor Market full books in PDF, epub, and Kindle. Read online free Employment Fluctuations In A Dual Labor Market ebook anywhere anytime directly on your device. Fast Download speed and no annoying ads. We cannot guarantee that every ebooks is available!
Author | : James Costain |
Publisher | : |
Total Pages | : 68 |
Release | : 2010 |
Genre | : |
ISBN | : |
Author | : Gilles Saint-Paul |
Publisher | : MIT Press |
Total Pages | : 248 |
Release | : 1996 |
Genre | : Business & Economics |
ISBN | : 9780262193764 |
Uses theoretical models to analyse the macroeconomic implications of the dual labour market. Includes an introduction to the techniques of dynamic programming and the matching function.
Author | : Robert Shimer |
Publisher | : Princeton University Press |
Total Pages | : 189 |
Release | : 2010-04-12 |
Genre | : Business & Economics |
ISBN | : 1400835232 |
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 | : Normann Rion |
Publisher | : |
Total Pages | : |
Release | : 2020 |
Genre | : |
ISBN | : |
Author | : Robert E. Hall |
Publisher | : |
Total Pages | : 60 |
Release | : 1998 |
Genre | : Labor market |
ISBN | : |
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 | : Thierry J. Noyelle |
Publisher | : Routledge |
Total Pages | : 139 |
Release | : 2019-04-11 |
Genre | : Business & Economics |
ISBN | : 0429721846 |
This book attempts to identify some principal dimensions of the process of market and job restructuring by means of case studies of service companies. It places special emphasis on the job restructuring issue and, in particular, on the decline of internal labor markets in the U.S. economy.
Author | : Samuel Rosenberg |
Publisher | : |
Total Pages | : 398 |
Release | : 1975 |
Genre | : Employment (Economic theory) |
ISBN | : |
Author | : Hie Joo Ahn |
Publisher | : |
Total Pages | : 0 |
Release | : 2023 |
Genre | : |
ISBN | : |
Aggregate U.S. labor market dynamics are well approximated by a dual labor market supplemented with a third, predominantly, home-production segment. We uncover this structure by estimating a Hidden Markov Model, a machine-learning method. The different market segments are identified through (in-)equality constraints on labor market transition probabilities. This method yields time series of stocks and flows for the three segments for 1980-2021. Workers in the primary sector, who make up around 55 percent of the population, are almost always employed and rarely experience unemployment. The secondary sector, which constitutes 14 percent of the population, absorbs most of the short-run fluctuations, both at seasonal and business cycle frequencies. Workers in this segment experience six times higher turnover rates than those in the primary tier and are ten times more likely to be unemployed than their primary counterparts. The tertiary segment consists of workers who infrequently participate in the labor market but nevertheless experience unemployment when they try to enter the labor force. Our individual-level analysis shows that observable demographic characteristics only explain a small part of the cross-individual variation in segment membership. The combination of the aggregate and individual-level evidence we provide points to dualism in the U.S. labor market being an equilibrium division of labor, under labor market imperfections, that minimizes adjustment costs in response to predictable seasonal as well as unpredictable business cycle fluctuations.
Author | : Pierre-Richard Agénor |
Publisher | : International Monetary Fund |
Total Pages | : 98 |
Release | : 1995-11-01 |
Genre | : Business & Economics |
ISBN | : 1451854781 |
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 | : Melvin Warren Reder |
Publisher | : |
Total Pages | : 80 |
Release | : 1978 |
Genre | : Employment (Economic theory) |
ISBN | : |