Showing 1 - 10 of 16
Over the past two decades, technological progress in the United States has been biased towards skilled labor. What does this imply for business cycles? We construct a quarterly skill premium from the CPS and use it to identify skill-biased technology shocks in a VAR with long-run restrictions....
Persistent link: https://www.econbiz.de/10004969342
This paper accounts for work sharing and unemployment in an efficiency wage model.The Solow condition holds when … prove that work sharing may have a reducing impact on unemployment …
Persistent link: https://www.econbiz.de/10011110886
that unemployment may arise in equilibrium because of the combination of uncertainty on product price and mismatch between …
Persistent link: https://www.econbiz.de/10011260291
In this paper, we consider a simple model that integrates the component of the social network as a research method of workers as well as a method of recruitment policy by firms. Indeed, taking into account the social sphere is fundamental to understand the labor market dynamic in developing...
Persistent link: https://www.econbiz.de/10011112561
Recent research in macroeconomics emphasizes the role of wage rigidity in accounting for the volatility of unemployment …
Persistent link: https://www.econbiz.de/10005772474
In this paper I present a model in which production requires two types of labor inputs: regular productive tasks and organizational capital, which is accumulated by workers performing organizational tasks. By allocating more workers from organizational to productive tasks, firms can temporarily...
Persistent link: https://www.econbiz.de/10005707967
We document three changes in postwar US macroeconomic dynamics: (i) the procyclicality of labor productivity has vanished, (ii) the relative volatility of employment has risen, and (iii) the relative (and absolute) volatility of the real wage has risen. We propose an explanation for all three...
Persistent link: https://www.econbiz.de/10008548743
Estimates of the e¤ect of education on GDP (the social return to education)have been hard to reconcile with micro evidence on the private return. We present a simple explanation that combines two ideas: imperfect substitution between worker types and endogenous skill biased technological...
Persistent link: https://www.econbiz.de/10005704916
Structural unemployment is due to mismatch between available jobs and workers. We formalize this concept in a simple … costs across segments generate structural unemployment. We estimate the contribution of these costs to fluctuations in US … unemployment, operationalizing segments as states or industries. Most structural unemployment is due to wage bargaining costs …
Persistent link: https://www.econbiz.de/10009228781
predictions of the model change very little, but the welfare costs of unemployment are much larger because unemployment risk is … distributed unequally across workers. As a result, optimal unemployment insurance may be higher and welfare is lower if hiring is …
Persistent link: https://www.econbiz.de/10009293465