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Inequality and employment sensitivities to the falling labour share

Karanassou, Marika; Sala, Hector - 2011

inequality and employment. To this end, we use annual data for the US, UK and Sweden over the past forty years and estimate … contributions of the labour share to the trajectories of inequality and employment during specific time intervals in the post-1990 … years. We find that during the nineties the cost of a one percent increase in employment was in the range of 0 …

Persistent link: https://www.econbiz.de/10009309510

Oil price shocks and labor market fluctuations

Ordóñez, Javier; Sala, Hector; Silva, José Ignacio - 2010

We examine the impact of real oil price shocks on labor market flows in the US We first use smooth transition regression (STR) models to investigate to what extent oil prices can be considered as a driving force of labor market fluctuations. Then we develop and calibrate a modified version of...

Persistent link: https://www.econbiz.de/10008779924

The evolution of inflation and unemployment : explaining the roaring nineties

Karanassou, Marika (contributor); Sala, Hector (contributor) - 2007

This paper analyses the relation between US inflation and unemployment from the perspective of "frictional growth," a phenomenon arising from the interplay between growth and frictions. In particular, we examine the interaction between money growth (on the one hand) and various real and nominal...

Persistent link: https://www.econbiz.de/10003586564

Distributional consequences of capital accumulation, globalisation and financialisation in the US

Karanassou, Marika; Sala, Hector - 2013

In this paper we examine the dynamic contributions of capital accumulation, globalisation, and financialisation to the functional-personal income distribution nexus. We analyse the labour share under the prism of monopoly and frictional growth, and disclose the dramatic upward trend in...

Persistent link: https://www.econbiz.de/10009717716

Investment crowding-out and labor market effects of financialization in the US

González, Ignacio; Sala, Hector - 2013

This paper studies the impact of financialization on unemployment in the U.S. We estimate a dynamic multi-equation macro labor model including labor demand, labor supply, wage-setting and capital accumulation equations. Financialization appears as a key determinant of capital accumulation which,...

Persistent link: https://www.econbiz.de/10009721371

Unobserved ability and the return to schooling

Belzil, Christian; Hansen, Jörgen - 2002

We estimate a structural dynamic programming model of schooling decisions with unobserved heterogeneity in school ability and market ability on a sample taken from the National Longitudinal Survey of Youth (NLSY). Both the instantaneous utility of attending school and the wage regression...

Persistent link: https://www.econbiz.de/10011411639

A structural analysis of the correlated random coefficient wage regression model

Belzil, Christian; Hansen, Jörgen - 2002

We estimate a finite mixture dynamic programming model of schooling decisions in which the log wage regression function is set in a random coefficient framework. The model allows for absolute and comparative advantages in the labor market and assumes that the population is composed of 8 unknown...

Persistent link: https://www.econbiz.de/10011411668

Earnings dispersion, risk aversion and eduation

Belzil, Christian; Hansen, Jörgen - 2002

experienced in labor market earnings through wage dispersion and employment rate dispersion. We find a low degree of relative risk … aversion (0.9282) and the estimates indicate that both wage and employment rate dispersions decrease significantly with …

Persistent link: https://www.econbiz.de/10011411833

Promotions, demotions, halo effects and earnings dynamics of American executives

Belzil, Christian (contributor); … - 2005

This paper explores the dynamics of wage growth in corporate hierarchies. Using panel data techniques, we estimate the causal effect of current and past transitions in reporting level and past earnings growth on components of current earnings and earnings growth using a large panel of US...

Persistent link: https://www.econbiz.de/10002898938

On the specification of mincerian wage regressions with heterogeneity, non-linearity, non-separability, and heteroskedasticity

Belzil, Christian (contributor) - 2004 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10001982769