Directed Search Over The Life Cycle
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| Author | : Guido Menzio |
| Publisher | : |
| Total Pages | : 0 |
| Release | : 2012 |
| Genre | : Economics |
| ISBN | : |
We develop a life-cycle model of the labor market in which different worker-firm matches have different quality and the assignment of the right workers to the right firms is time consuming because of search and learning frictions. The rate at which workers move between unemployment, employment and across different firms is endogenous because search is directed and, hence, workers can choose whether to seek low-wage jobs that are easy to find or high-wage jobs that are hard to find. We calibrate our theory using data on labor market transitions aggregated across workers of different ages. We validate our theory by showing that it correctly predicts the pattern of labor market transitions for workers of different ages. Finally, we use our theory to decompose the age profiles of transition rates, wages and productivity into the effects of age variation in work-life expectancy, human capital and match quality.
| Author | : Lars Ljungqvist |
| Publisher | : MIT Press |
| Total Pages | : 1477 |
| Release | : 2018-09-11 |
| Genre | : Business & Economics |
| ISBN | : 026234873X |
The substantially revised fourth edition of a widely used text, offering both an introduction to recursive methods and advanced material, mixing tools and sample applications. Recursive methods provide powerful ways to pose and solve problems in dynamic macroeconomics. Recursive Macroeconomic Theory offers both an introduction to recursive methods and more advanced material. Only practice in solving diverse problems fully conveys the advantages of the recursive approach, so the book provides many applications. This fourth edition features two new chapters and substantial revisions to other chapters that demonstrate the power of recursive methods. One new chapter applies the recursive approach to Ramsey taxation and sharply characterizes the time inconsistency of optimal policies. These insights are used in other chapters to simplify recursive formulations of Ramsey plans and credible government policies. The second new chapter explores the mechanics of matching models and identifies a common channel through which productivity shocks are magnified across a variety of matching models. Other chapters have been extended and refined. For example, there is new material on heterogeneous beliefs in both complete and incomplete markets models; and there is a deeper account of forces that shape aggregate labor supply elasticities in lifecycle models. The book is suitable for first- and second-year graduate courses in macroeconomics. Most chapters conclude with exercises; many exercises and examples use Matlab or Python computer programming languages.
| Author | : Lars Ljungqvist |
| Publisher | : MIT Press |
| Total Pages | : 1359 |
| Release | : 2012-08-31 |
| Genre | : Business & Economics |
| ISBN | : 0262312026 |
A substantially revised new edition of a widely used text, offering both an introduction to recursive methods and advanced material. Recursive methods offer a powerful approach for characterizing and solving complicated problems in dynamic macroeconomics. Recursive Macroeconomic Theory provides both an introduction to recursive methods and advanced material, mixing tools and sample applications. Only experience in solving practical problems fully conveys the power of the recursive approach, and the book provides many applications. This third edition offers substantial new material, with three entirely new chapters and significant revisions to others. The new content reflects recent developments in the field, further illustrating the power and pervasiveness of recursive methods. New chapters cover asset pricing empirics with possible resolutions to puzzles; analysis of credible government policy that entails state variables other than reputation; and foundations of aggregate labor supply with time averaging replacing employment lotteries. Other new material includes a multi-country analysis of taxation in a growth model, elaborations of the fiscal theory of the price level, and age externalities in a matching model. The book is suitable for both first- and second-year graduate courses in macroeconomics and monetary economics. Most chapters conclude with exercises. Many exercises and examples use Matlab programs, which are cited in a special index at the end of the book.
| Author | : John R. Talburt |
| Publisher | : Morgan Kaufmann |
| Total Pages | : 255 |
| Release | : 2015-04-20 |
| Genre | : Computers |
| ISBN | : 012800665X |
Entity Information Life Cycle for Big Data walks you through the ins and outs of managing entity information so you can successfully achieve master data management (MDM) in the era of big data. This book explains big data’s impact on MDM and the critical role of entity information management system (EIMS) in successful MDM. Expert authors Dr. John R. Talburt and Dr. Yinle Zhou provide a thorough background in the principles of managing the entity information life cycle and provide practical tips and techniques for implementing an EIMS, strategies for exploiting distributed processing to handle big data for EIMS, and examples from real applications. Additional material on the theory of EIIM and methods for assessing and evaluating EIMS performance also make this book appropriate for use as a textbook in courses on entity and identity management, data management, customer relationship management (CRM), and related topics. Explains the business value and impact of entity information management system (EIMS) and directly addresses the problem of EIMS design and operation, a critical issue organizations face when implementing MDM systems Offers practical guidance to help you design and build an EIM system that will successfully handle big data Details how to measure and evaluate entity integrity in MDM systems and explains the principles and processes that comprise EIM Provides an understanding of features and functions an EIM system should have that will assist in evaluating commercial EIM systems Includes chapter review questions, exercises, tips, and free downloads of demonstrations that use the OYSTER open source EIM system Executable code (Java .jar files), control scripts, and synthetic input data illustrate various aspects of CSRUD life cycle such as identity capture, identity update, and assertions
| Author | : Jean-Olivier Hairault |
| Publisher | : Oxford University Press |
| Total Pages | : 144 |
| Release | : 2016-10-27 |
| Genre | : Business & Economics |
| ISBN | : 0191084743 |
This volumes examines the interaction of labour market conditions and retirement decisions. Based on French and US data, it provides empirical evidence and quantitative analysis of retirement and labor market flows. It studies the horizon effect and uses French individual data and probit models to show that the horizon effect does matter for the probability of being employed before the early retirement age. It analyses the influence of the retirement age on labour-market equilibrium, as well as the impact of labour market conditions, especially the importance of unemployment risk, on retirement decisions.
| Author | : Karl Schmedders |
| Publisher | : Newnes |
| Total Pages | : 680 |
| Release | : 2013-12-31 |
| Genre | : Business & Economics |
| ISBN | : 0080931782 |
Handbook of Computational Economics summarizes recent advances in economic thought, revealing some of the potential offered by modern computational methods. With computational power increasing in hardware and algorithms, many economists are closing the gap between economic practice and the frontiers of computational mathematics. In their efforts to accelerate the incorporation of computational power into mainstream research, contributors to this volume update the improvements in algorithms that have sharpened econometric tools, solution methods for dynamic optimization and equilibrium models, and applications to public finance, macroeconomics, and auctions. They also cover the switch to massive parallelism in the creation of more powerful computers, with advances in the development of high-power and high-throughput computing. Much more can be done to expand the value of computational modeling in economics. In conjunction with volume one (1996) and volume two (2006), this volume offers a remarkable picture of the recent development of economics as a science as well as an exciting preview of its future potential. Samples different styles and approaches, reflecting the breadth of computational economics as practiced today Focuses on problems with few well-developed solutions in the literature of other disciplines Emphasizes the potential for increasing the value of computational modeling in economics
| Author | : Andrew Caplin |
| Publisher | : World Scientific |
| Total Pages | : 407 |
| Release | : 2023-05-16 |
| Genre | : Business & Economics |
| ISBN | : 9811262403 |
That mistakes are made is clear. What is meant by that is not. Measuring whatever might be meant and scientifically studying it is therefore even more challenging.These lectures introduce an interdisciplinary science of mistakes to cut the Gordian knot. The key building blocks are model constructs drawn from the economic tradition, methods of measurement drawn from the psychometric tradition, and analytic methods drawn from economic theory.
| Author | : Brendan Epstein |
| Publisher | : International Monetary Fund |
| Total Pages | : 45 |
| Release | : 2017-06-08 |
| Genre | : Business & Economics |
| ISBN | : 1475595867 |
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.
| Author | : Mahendra Hundal |
| Publisher | : CRC Press |
| Total Pages | : 690 |
| Release | : 2001-09-11 |
| Genre | : Science |
| ISBN | : 9780203908099 |
Explains how Design for the Environment (SFE) and Life Cycle Engineering (LCE) processes may be integrated into business an dmanufacturing practices. Examines major environmental laws and regulations in the U.S. and Europe, qualitative and quantitative analyses of ""green design"" decision variables, and heuristic search programs for a proactive future in ecological improvement.
| Author | : Alain Bernard |
| Publisher | : Springer Science & Business Media |
| Total Pages | : 580 |
| Release | : 2008-04-01 |
| Genre | : Technology & Engineering |
| ISBN | : 3540784314 |
Knowledge Management is a wide, critical and strategic issue for all the com- nies, from the SMEs to the most complex organizations. The key of competiti- ness is knowledge, because of the necessity of reactivity, flexibility, agility and innovation capacities. Knowledge is difficult to measure itself but what is visible, this is the way of improving products, technologies and enterprise organizations. During the last four years, based on the experience of most of the best experts around the World, CIRP (The International Academy for Production Engineering) has decided to prepare and structure a Network of Excellence (NoE) proposal. The European Community accepted to found the VRL-KCiP (Virtual Research La- ratory – Knowledge Community in Production). As its name indicates it, the aim of this NoE was really to build a «Knowledge Community in Production ». This was possible and realistic because the partners were representative of the most important universities in Europe and also because of strong partnerships with laboratories far from Europe (Japan, Australia, South Africa, USA, etc...). Based on such powerful partnership, the main issue was to help European manufacturing industry to define and structure the strategic knowledge in order to face the strategic worldwide challenges. Manufacturing in Europe currently has two essential aspects: 1. It has to be knowledge intensive given the European demands for high-tech products and services (e.g. electronics, medicines).
