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Consistent with two models of imperfect competition in the labor market, the efficient bargaining model and the monopsony model, we provide two extensions of a microeconomic version of Hall's framework for estimating price-cost margins. We show that both product and labor market imperfections...
Persistent link: https://www.econbiz.de/10010274657
We study a multi-sector model of growth with differences in TFP growth rates across sectors and derive sufficient conditions for the coexistence of structural change, characterized by sectoral labor reallocation, and balanced aggregate growth. The conditions are weak restrictions on the utility...
Persistent link: https://www.econbiz.de/10010267622
transformation between agriculture, manufacturing and services. The model can rationalize the observed falling or U-shaped pattern … for aggregate hours, the complete marketization of agriculture and manufacturing, and the shift from agriculture to …
Persistent link: https://www.econbiz.de/10010267775
from rural to urban locations is endogenous and linked to productivity differences between the two locations and survival …
Persistent link: https://www.econbiz.de/10010268612
This paper presents an econometric mediation analysis. It considers identification of production functions and the sources of output effects (treatment effects) from experimental interventions when some inputs are mismeasured and others are entirely omitted.
Persistent link: https://www.econbiz.de/10010328902
-to-manage, efficient bargaining, labor hoarding) whereas the productivity approach hinges on the assumption of efficient bargaining. Across …
Persistent link: https://www.econbiz.de/10010269757
results demonstrate that unequal rewards can potentially increase productivity by facilitating coordination, and that the …
Persistent link: https://www.econbiz.de/10010274018
heterogeneity in productivity and factor prices symmetrically. The strength of the proposed estimator is illustrated by Monte Carlo …
Persistent link: https://www.econbiz.de/10010268849
productivity. The empirical evidence on the validity of this assumption is surprisingly thin and subject to various potential … productivity-wage gaps. They find that occupations play distinct roles for remuneration and productivity: while the estimations … indicate a significant upward-sloping occupational wage-profile, the hypothesis of a flat productivity-profile cannot be …
Persistent link: https://www.econbiz.de/10010280673
In the neoclassical production functions model technical change (TC) is assumed to be exogenous and it is specified as a function of time. However, some exogenous external factors other than time can also affect the rate of TC. In this paper we model TC via a combination of time trend (purely...
Persistent link: https://www.econbiz.de/10010280731