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The Pricing of Job Characteristics When Markets Do Not Clear : Theory and Implications

Lang, Kevin; Majumdar, Sumon - 2021

This paper examines nonsequential search when jobs vary with respect to nonpecuniary characteristics. In the presence of frictions in the labor market, the equilibrium job distribution need not show evidence of compensating wage differentials. The model also generates several pervasive features...

Persistent link: https://www.econbiz.de/10013249235

How Much Does Sorting Increase Inequality?

Kremer, Michael - 2021

Social commentators from William Julius Wilson to Charles Murray have argued that increased sorting of people into internally homogeneous" neighborhoods,schools, and marriages is spurring long-run inequality. Cali- bration of a formal model suggests that these fears are misplaced. In order to...

Persistent link: https://www.econbiz.de/10013239355

Bilateral Search as an Explanation for Labor Market Segmentation and Other Anomalies

Lang, Kevin; Dickens, William T. - 2021

Since applying for jobs is costly, workers prefer applying where their employment probability is high and, therefore, to jobs attracting fewer higher quality applicants. Since creating vacancies is expensive, firms create more vacancies when job-seeking is high. Our model captures these ideas...

Persistent link: https://www.econbiz.de/10013240959

Labor Market Segmentation Theory : Reconsidering the Evidence

Dickens, William T.; Lang, Kevin - 2021

We argue that Labor Market Segmentation theory is a good alternative to standard views of the labor market. Since it is … sometimes argued that labor market segmentation theory is untestable, we first consider the uses of theory and the attributes of … a good theory. We then argue that labor market segmentation has these attributes. It is internally consistent and is …

Persistent link: https://www.econbiz.de/10013244084

Macroeconomic Adjustment with Segmented Labor Markets

Agenor, Pierre-Richard; Aizenman, Joshua - 2022

This paper analyzes the macroeconomic effects of fiscal and labor market policies in a small open developing country. The basic framework considers an economy with a large informal production sector and a heterogeneous work force. The labor market is segmented as a result of efficiency...

Persistent link: https://www.econbiz.de/10013308614

Work Incentives and the Demand for Primary and Contingent Labor

Rebitzer, James B.; Taylor, Lowell J. - 2021

This paper presents an incentive-based dual labor market model. Three implications of the model are emphasized. First, in equilibrium, there is an excess supply of workers to primary jobs. Second, when demand is uncertain, firms may choose a mix of primary and contingent workers to perform the...

Persistent link: https://www.econbiz.de/10013310564

Heterogeneous Beliefs and School Choice Mechanisms

Kapor, Adam - 2018

This paper studies how welfare outcomes in centralized school choice depend on the assignment mechanism when participants are not fully informed. Using a survey of school choice participants in a strategic setting, we show that beliefs about admissions chances differ from rational expectations...

Persistent link: https://www.econbiz.de/10012910305

Understanding the Role of Time-Varying Unobserved Ability Heterogeneity in Education Production

Ding, Weili - 2014

Unobserved ability heterogeneity has long been postulated to play a key role in human capital development. Traditional strategies to estimate education production functions do not allow for varying role or development of unobserved ability as a child ages. Such restrictions are highly...

Persistent link: https://www.econbiz.de/10013057830

Education and Borrowing Constraints : Tests vs. Prices

Fernández, Raquel - 2021

This paper examines the properties of exams and markets as alternative allocation devices under borrowing constraints. Exams dominate markets in terms of matching efficiency. Whether aggregate consumption is greater under exams than under markets depends on the power of the exam technology; for...

Persistent link: https://www.econbiz.de/10013220926

Heterogeneity, Stratification, and Growth

Bénabou, Roland - 2021

We examine how economic stratification affects inequality and growth over time. We study economies where heterogenous agents interact through local public goods or externalities (school funding, neighborhood effects) and economy-wide linkages (complementary skills. knowledge spillovers). We...

Persistent link: https://www.econbiz.de/10013233451

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