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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
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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
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Social Ties and the Job Search of Recent Immigrants
Goel, Deepti - 2009
We show that increasing the probability of obtaining a job offer through a network should raise the observed wages of workers in jobs found through formal channels relative to those in jobs found through the network. This prediction holds at all percentiles except the highest and lowest. The...
Persistent link: https://www.econbiz.de/10012463463
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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
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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
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Firms and the Economics of Skilled Immigration
Kerr, Sari Pekkala - 2014
to date in understanding the impact of high skilled immigration from the perspective of the firm and the open areas that … call for more research. Since much of the U.S. immigration process for skilled workers rests in the hands of employer firms …
Persistent link: https://www.econbiz.de/10012458595
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The Economics of Labor Adjustment : Mind the Gap
Cooper, Russell W. - 2001
We study the inferences about labor adjustment costs obtained by the 'gap methodology' of Caballero and Engel [1993] and Caballero, Engel and Haltiwanger [1997]. In that approach, the policy function of a manufacturing plant is assumed to depend on the gap between a target and the current level...
Persistent link: https://www.econbiz.de/10012470191
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On the Nature of Capital Adjustment Costs
Cooper, Russell W. - 2000
This paper studies the nature of capital adjustment at the plant-level. We use an indirect inference procedure to estimate the structural parameters of a rich specification of capital adjustment costs. In effect, the parameters are optimally chosen to reproduce the nonlinear relationship between...
Persistent link: https://www.econbiz.de/10012470812
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Factor Adjustment, Quality Change, and Productivity Growth for U.S. Manufacturing
Bernstein, Jeffrey I. - 1999
This paper accounts for quality improvements and adjustment costs in all inputs to U.S. manufacturing production. Adjustment processes for non-capital inputs are slower than previously recognized. Annual adjustment percentages are: labor 77, capital 30, energy 20, and materials 21. Factor prices...
Persistent link: https://www.econbiz.de/10012471934
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Estimating Adjustment Costs with Data on Heterogeneous Capital Goods
Goolsbee, Austan - 1997
This paper estimates the micro-level costs of adjusting capital using detailed data on" investment decisions in the US airline industry. The data include the capital stock retirement, market values, operating costs, and utilization rates of 16 different types of capital" goods for each airline....
Persistent link: https://www.econbiz.de/10012472474