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unemployment. Juhn, Murphy, and Topel (2002) point out that the low unemployment rates for men in the 1990s were accompanied by … historically high rates of non-employment suggesting that the 1990s economy was not as strong as the unemployment rate might … increase in women's labor force participation more than offsets the decline for men, and low unemployment rates in the 1990s …
Persistent link: https://www.econbiz.de/10001920872
"We calibrate a model of labor demand to infer the employment responseto a change in the minimum wage in the food away from home industry. Assuming a perfectly competi- tive labor market, the model predicts a 2.5 to 3.5 percent fall in employment in response to a 10 percent minimum wage change....
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"This paper evaluates to what extent the introduction of firing costs can affect the aggregate dynamics of a neoclassical growth model with hetrogeneous establishments. Similarly to the previous literature, firing costs are found to have large steady- state effcts. However, they have no...
Persistent link: https://www.econbiz.de/10001909318
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"In his famous 1987 monograph, Robert Lucas argued that further stabilizing the business cycles that persisted in the post-War era was pointless, because these cycles had a negligible effect on societal well- being. In particular, Lucas demonstrated that society should be willing to pay only a...
Persistent link: https://www.econbiz.de/10001915579
"Economists have long viewed recessions as contributing to increasing inequality. However, this conclusion is largely based on data from a period in which inequality was increasing over time. This paper examines the connection between long-run trends and cyclical variation in earnings...
Persistent link: https://www.econbiz.de/10002049337
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