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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

Labor Demand and the Structure of Adjustment Costs

Hamermesh, Daniel S. - 1988

This study examines the nature of the costs that firms face in adjusting labor demand in response to shocks induced by changes in output demand and prices. Empirical work on monthly plant-level time-series data shows that adjustment proceeds in jumps. Employment is unchanged in response to small...

Persistent link: https://www.econbiz.de/10012476491

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

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

Market Structure and Monetary Non-neutrality

Mongey, Simon - National Bureau of Economic Research - 2021

I study a general equilibrium menu cost model with a continuum of sectors, idiosyncratic and aggregate shocks, and the novel feature that each sector consists of strategically engaged firms. Compared to an economy with monopolistically competitive sectors--separately parameterized to match the...

Persistent link: https://www.econbiz.de/10012629453

Tax Reform and Adjustment Costs : The Impact on Investment and Market Value

Auerbach, Alan J. - 1986

This paper derives analytical measures of the combined effects of tax changes and adjustment costs on investment and market value. Unlike earlier measures, the effective tax rate derived is valid in the presence of adjustment costs and anticipated tax changes. The derived measure of the impact...

Persistent link: https://www.econbiz.de/10012476966

Adjustment Costs, Durables, and Aggregate Consumption

Bernanke, Ben - 1982

Previous tests of the permanent income hypothesis (PIH) have focused on either nondurables or durables expenditures in isolation. This paper studies consumer purchases of nondurables and durables as the outcome of a single optimization problem.It is shown that the presence of adjustment costs of...

Persistent link: https://www.econbiz.de/10012478067

Heterogeneity, Measurement Error and Misallocation : Evidence from African Agriculture

Gollin, Douglas - 2019

Standard measures of productivity display enormous dispersion across farms in Africa. Crop yields and input intensities appear to vary greatly, seemingly in conflict with a model of efficient allocation across farms. In this paper, we present a theoretical framework for distinguishing between...

Persistent link: https://www.econbiz.de/10012479396

Optimal price setting with observation and menu costs

Alvarez, Fernando E. - 2010

We model the optimal price setting problem of a firm in the presence of both information and menu costs. In this problem the firm optimally decides when to collect costly information on the adequacy of its price, an activity which we refer to as a price "review". Upon each review, the firm...

Persistent link: https://www.econbiz.de/10012462800

Euler-Equation Estimation for Discrete Choice Models : A Capital Accumulation Application

Cooper, Russell - 2010

This paper studies capital adjustment at the establishment level. Our goal is to characterize capital adjustment costs, which are important for understanding both the dynamics of aggregate investment and the impact of various policies on capital accu- mulation. Our estimation strategy searches...

Persistent link: https://www.econbiz.de/10012462977

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