Using a model with constant relative risk-aversion preferences, endogenous labor supply and partial insurance against … cost associated with missing insurance markets. On the other hand, greater wage dispersion presents opportunities to raise … second moments of the joint distribution over individual wages, consumption and hours …

educational structure of the population and of policies which address the health impediments for labor force participation. Of the … the labor market integration of people with health limitations provide a particularly promising avenue to increase labor … force participation rates and thus help to address the challenges posed by demographic aging. If the health gap in …

In this paper we use indirect inference to estimate a joint model of earnings, employment, job changes, wage rates, and … heterogeneity, job-specific error components in both wages and hours, and measurement error. We use the model to address a number of … important questions in labor economics, including the source of the experience profile of wages, the response of job changes to …

of STEM worker growth on the wages and employment of college and non-college educated native workers in 219 U.S. cities … workers in a city were associated with significant increases in wages paid to college educated natives. Wage increases for non …-college educated natives are smaller but still significant. We do not find significant effects on employment. We also find that STEM …

greater flexibility in wages, these two countries also exhibit more stable employment behavior over the business cycle. In …This paper argues that rigid wages cannot provide the underpinnings of a universally valid theory of the business cycle …, simply because wages are not universally rigid. Several different statistical techniques suggest that wage rates in the U …

opportunities for substituting wages for employment in response to a change in the slope of the employer's labor demand function …. Larger union locals place greater emphasis on wages versus employment than smaller union locals … amenable to empirical analysis. A characterization of the wage and employment-setting process in unionized markets is adopted …

This paper studies the efficient agreements about the dependence of workers' earnings on employment, when the … employment level is controlled by firms. The firms ' superior information about profitability conditions is responsible for this … form of contract governance. Under plausible assumptions, such agreements will cause employment to diverge from efficiency …