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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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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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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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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
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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
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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