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Dynamics of Labor Demand : Evidence from Plant-level Observations and Aggregate Implications

Cooper, Russel W. - 2004

This paper studies the dynamics of labor demand at the plant and aggregate levels. The correlation of hours and employment growth is negative at the plant level and positive in aggregate time series. Further, hours and employment growth are about equally volatile at the plant level while hours...

Persistent link: https://www.econbiz.de/10012468397

Partial Adjustment without Apology

King, Robert G. - 2003

Many kinds of economic behavior appear to be governed by discrete and occasional individual choices. Despite this, econometric partial adjustment models perform relatively well at the aggregate level. Analyzing the classic employment adjustment problem, we show how discrete and occasional...

Persistent link: https://www.econbiz.de/10012468751

The Labor Demand Curve is Downward Sloping : Reexamining the Impact of Immigration on the Labor Market

Borjas, George J. - 2003

Immigration is not evenly balanced across groups of workers that have the same education but differ in their work … market impact of immigration by exploiting this variation in supply shifts across education-experience groups. I assume that … substitutes. The analysis indicates that immigration lowers the wage of competing workers: a 10 percent increase in supply reduces …

Persistent link: https://www.econbiz.de/10012468943

The Analytics of the Wage Effect of Immigration

Borjas, George J. - 2009

The theory of factor demand has important implications for the study of the impact of immigration on wages. This paper … theory can be used to check the plausibility of the many contradictory claims that appear throughout the immigration …

Persistent link: https://www.econbiz.de/10012463851

Asymmetric Cycles

Jovanovic, Boyan - 2004

I estimate a model in which new technology entails random adjustment costs. Rapid adjustments may cause productivity slowdowns. These slowdowns last longer when retooling is costly. The model explains why growth-rate disasters are more likely than miracles, and why volatility of growth relates...

Persistent link: https://www.econbiz.de/10012468120

A Model of Housing in the Presence of Adjustment Costs : A Structural Interpretation of Habit Persistence

Flavin, Marjorie - 2004

The paper generalizes the Grossman and Laroque (1990) model of optimal consumption and portfolio allocation in the context in which a durable good (or house) subject to adjustment costs is both an argument of the utility function and a component of wealth. Because the Grossman and Laroque model...

Persistent link: https://www.econbiz.de/10012468235

The Cost of Labor Adjustment : Inferences from the Gap

Cooper, Russell W. - 2003

We study labor adjustment costs. We specify a dynamic optimization problem at the plant-level, allowing for both convex and non-convex adjustment costs. We estimate the parameters of the adjustment process using an indirect inference procedure in which simulated moments are matched with data...

Persistent link: https://www.econbiz.de/10012468692

Why Are Prices Sticky? The Dynamics of Wholesale Gasoline Prices

Davis, Michael C. - 2003

The menu-cost interpretation of sticky prices implies that the probability of a price change should depend on the past history of prices and fundamentals only through the gap between the current price and the frictionless price. We find that this prediction is broadly consistent with the...

Persistent link: https://www.econbiz.de/10012468957

On What States Do Prices Depend? Answers From Ecuador

Benedict, Craig - 2016

In this paper, we argue that differences in the cost structure across sectors play an important role in the decision of firms to adjust their prices. We develop a menu-cost model of pricing in which retail firms intermediate trade between producers and consumers. An important facet of our...

Persistent link: https://www.econbiz.de/10012456172

How Exporters Grow

Fitzgerald, Doireann - 2016

We document how export quantities and prices evolve after entry to a market. Controlling for marginal cost, and taking account of selection on idiosyncratic demand, there are economically and statistically significant dynamics of quantities, but no dynamics of prices. To match these facts, we...

Persistent link: https://www.econbiz.de/10012456737