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| Author | : Gilbert R. Ghez |
| Publisher | : Columbia University Press |
| Total Pages | : 180 |
| Release | : 1975 |
| Genre | : Business & Economics |
| ISBN | : |
There is a belief now that family behavior over the life cycle can be analyzed by economic methods. This study deals with allocation of resources by families over time.
| 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 | : Dale Mortensen |
| Publisher | : MIT Press |
| Total Pages | : 170 |
| Release | : 2003 |
| Genre | : Business & Economics |
| ISBN | : 9780262633192 |
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 | : B. Douglas Bernheim |
| Publisher | : University of Chicago Press |
| Total Pages | : 408 |
| Release | : 1991-05 |
| Genre | : Business & Economics |
| ISBN | : 9780226044040 |
"... Papers presented at a conference held at the Stouffer Wailea Hotel, Maui, Hawaii, January 6-7, 1989. ... part of the Research on Taxation program of the National Bureau of Economic Research." -- p. ix.
| Author | : Alan Manning |
| Publisher | : Princeton University Press |
| Total Pages | : 414 |
| Release | : 2013-12-03 |
| Genre | : Business & Economics |
| ISBN | : 1400850673 |
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.
| Author | : James Joseph Heckman |
| Publisher | : Elsevier |
| Total Pages | : 1013 |
| Release | : 2007 |
| Genre | : Econometrics |
| ISBN | : 0444506314 |
As conceived by the founders of the Econometric Society, econometrics is a field that uses economic theory and statistical methods to address empirical problems in economics. It is a tool for empirical discovery and policy analysis. The chapters in this volume embody this vision and either implement it directly or provide the tools for doing so. This vision is not shared by those who view econometrics as a branch of statistics rather than as a distinct field of knowledge that designs methods of inference from data based on models of human choice ...
| Author | : Zvi Bodie |
| Publisher | : University of Chicago Press |
| Total Pages | : 384 |
| Release | : 1987-03-01 |
| Genre | : Business & Economics |
| ISBN | : 9780226062846 |
In the past several decades, pension plans have become one of the most significant institutional influences on labor and financial markets in the U.S. In an effort to understand the economic effects of this growth, the National Bureau of Economic Research embarked on a major research project in 1980. Issues in Pension Economics, the third in a series of four projected volumes to result from thsi study, covers a broad range of pension issues and utilizes new and richer data sources than have been previously available. The papers in this volume cover such issues as the interaction of pension-funding decisions and corporate finances; the role of pensions in providing adequate and secure retirement income, including the integration of pension plans with social security and significant drops in the U.S. saving rate; and the incentive effects of pension plans on labor market behavior and the implications of plans on labor market behavior and the implications of plans for different demographic groups. Issues in Pension Economics offers important empirical studies and makes valuable theoretical contributions to current thinking in an area that will most likely continue to be a source of controversy and debate for some time to come. The volume should prove useful to academics and policymakers, as well as to members of the business and labor communities.
| Author | : Ms.Valerie Cerra |
| Publisher | : International Monetary Fund |
| Total Pages | : 50 |
| Release | : 2020-05-29 |
| Genre | : Business & Economics |
| ISBN | : 1513536990 |
Traditionally, economic growth and business cycles have been treated independently. However, the dependence of GDP levels on its history of shocks, what economists refer to as “hysteresis,” argues for unifying the analysis of growth and cycles. In this paper, we review the recent empirical and theoretical literature that motivate this paradigm shift. The renewed interest in hysteresis has been sparked by the persistence of the Global Financial Crisis and fears of a slow recovery from the Covid-19 crisis. The findings of the recent literature have far-reaching conceptual and policy implications. In recessions, monetary and fiscal policies need to be more active to avoid the permanent scars of a downturn. And in good times, running a high-pressure economy could have permanent positive effects.
| Author | : C. V. Brown |
| Publisher | : Routledge |
| Total Pages | : 376 |
| Release | : 2018-12-07 |
| Genre | : Business & Economics |
| ISBN | : 0429655851 |
First published in 1981. This book reports on a decade of research into the effects of taxation on the supply of labour. In addition to their work in making labour supply estimates, the study explores a number of the ways labour supply estimates can be used. When budget constraints are non-linear it is not possible to estimate the effects of (tax) or other policy changes from knowledge of labour supply elasticities alone, and it is necessary to re-estimate the original model used to derive the estimates. The implications of labour supply estimates for the study of inequality and optimal taxation are considered. Macro-economic models of the economy typically omit labour supply functions or include functions which are inconsistent with micro-economic work on labour supply. This book will appeal to academic economists, senior students and policy-makers in the field of public finance and labour economics, who will find much of interest from both the theoretical and policy standpoints.
