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Labor Market Dynamics When Ideas are Harder to Find

Bilal, Adrien; Engbom, Niklas; Mongey, Simon; Violante, … - National Bureau of Economic Research - 2021

This paper evaluates the impact of slowing economic growth on labor market dynamism and misallocation. It provides a model of endogenous growth via imitation in a frictional labor market. The framework accounts for rich data on worker job-to-job transitions as well as stochastic and lifecycle...

Persistent link: https://www.econbiz.de/10012696388

Labor Markets and Monetary Policy : A New-Keynesian Model with Unemployment

Blanchard, Olivier - 2008

We construct a utility-based model of fluctuations, with nominal rigidities and unemployment, and draw its implications for the unemployment-inflation tradeoff and for the conduct of monetary policy.<br><br>We proceed in two steps. We first leave nominal rigidities aside. We show that, under a standard...

Persistent link: https://www.econbiz.de/10012464750

Identifying Inflation's Grease and Sand Effects in the Labor Market

Groshen, Erica L. - 1997

Inflation has been accused of causing distortionary price and wage fluctuations (sand) as well as lauded for facilitating adjustments to shocks when wages are rigid downwards (grease). This paper investigates whether these two effects can be distinguished from each other in a labor market by the...

Persistent link: https://www.econbiz.de/10012472753

Technology, Unemployment, and Relative Wages in a Global Economy

Davis, Donald R. - 1996

Arguably the most important development in recent decades in US factor markets is the decline in the relative wage of the unskilled. By contrast, in Europe it is undoubtedly the rise and persistence of unemployment. Technology has been identified as a key reason for the rising US wage...

Persistent link: https://www.econbiz.de/10012473209

Testing for Contracting Effects on Employment

Bils, Mark - 1989

I test the importance of wage rigidities from long-term contracts by observing how employment behaves when firms and workers recontract. If rigidities are important then we should observe employment adjusting after recontracting to undo movements in employment during the past contract that were...

Persistent link: https://www.econbiz.de/10012475997

Reference-Dependence and Labor-Market Fluctuations

Eliaz, Kfir - 2013

We incorporate reference-dependent worker behavior into a search-matching model of the labor market, in which firms have all the bargaining power and productivity follows a log-linear AR(1) process. Motivated by Akerlof (1982) and Bewley (1999), we assume that existing workers' output falls...

Persistent link: https://www.econbiz.de/10012459576

Structural Transformation, Industrial Specialization, and Endogenous Growth

Bustos, Paula - 2019

The introduction of new technologies in agriculture can foster structural transformation by freeing workers who find occupation in other sectors. The traditional view is that this reallocation of workers towards manufacturing can lead to industrial development. However, when workers moving to...

Persistent link: https://www.econbiz.de/10012479820

Innovation, Growth, and Dynamic Gains from Trade

Hsu, Wen-Tai - 2019

trade affects the incentives for technological advancement. We construct an innovation-based endogenous growth model of … North-South trade. There are two types of innovation: one by the North to upgrade the general purpose technology (GPT) and … estimates where the effects of GPT-driven innovation are eliminated. The share of dynamic gains from trade is about 78% of the …

Persistent link: https://www.econbiz.de/10012480413

Innovation, Diffusion, and Trade

Eaton, Jonathan - 2006

We explore the determinants of research specialization across countries and its consequences for relative wages. Using a dynamic Ricardian model we examine the effects of faster international technology diffusion and lower trade barriers on the incentive to innovate. In the absence of any...

Persistent link: https://www.econbiz.de/10012466280

A Theory of Growth and Volatility at the Aggregate and Firm Level

Comin, Diego - 2005

This paper presents an endogenous growth model that explains the evolution of the first and second moments of productivity growth at the aggregate and firm level during the post-war period. Growth is driven by the development of both (i) idiosyncratic R&D innovations and (ii) general innovations...

Persistent link: https://www.econbiz.de/10012467175

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