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Does Indivisible Labor Explain the Difference between Micro and Macro Elasticities? A Meta-Analysis of Extensive Margin Elasticities

Chetty, Raj - 2012

Macroeconomic calibrations imply much larger labor supply elasticities than microeconometric studies. One prominent explanation for this divergence is that indivisible labor generates extensive margin responses that are not captured in micro studies of hours choices. We evaluate whether existing...

Persistent link: https://www.econbiz.de/10013115279

Characteristics of Observed Limit Order Demand and Supply Schedules for Individual Stocks

Kim, Jung-Wook - 2013

Using complete order books from the Korea Stock Exchange for a four-year period including the 1997 Asian financial crisis, we observe (not estimate) limit order demand and supply curves for individual stocks. Both curves have demonstrably finite elasticities. These fall markedly, by about 40%,...

Persistent link: https://www.econbiz.de/10012753216

Free to Choose? Reform and Demand Response in the English National Health Service

Gaynor, Martin - 2012

choice increased demand elasticity faced by hospitals with regard to clinical quality and waiting time for an important … welfare. The elasticity of demand faced by hospitals increased post-reform, giving hospitals potentially large incentives to … increased demand elasticity. The results suggests greater choice can enhance quality …

Persistent link: https://www.econbiz.de/10013097271

Capital Investment and Labor Demand

Curtis, E. Mark; Garrett, Daniel; Ohrn, Eric; Roberts, Kevin - 2023

We study how tax policies that lower the cost of capital impact investment and labor demand. Difference-in-differences estimates using confidential Census Data on manufacturing establishments show that tax policies increased both investment and employment, but did not stimulate wage or...

Persistent link: https://www.econbiz.de/10014353013

The Demand for Youth : Implications for the Hours Volatility Puzzle

Jaimovich, Nir - 2010

The employment and hours worked of young individuals fluctuate much more over the business cycle than those of prime-aged individuals. Understanding the mechanism underlying this observation is key to explaining the volatility of aggregate hours over the cycle. We argue that the joint behavior...

Persistent link: https://www.econbiz.de/10012757916

Adjusted Estimates of Worker Flows and Job Openings in Jolts

Davis, Steven J. - 2010

We develop and implement a method to improve estimates of worker flows and job openings based on the Job Openings and Labor Turnover Survey (JOLTS). Our method involves reweighting the cross-sectional density of employment growth rates in JOLTS to match the corresponding density in the...

Persistent link: https://www.econbiz.de/10012759105

Marginal Jobs, Heterogeneous Firms, & Unemployment Flows

Elsby, Michael - 2010

This paper introduces a notion of fir m size into a search and matching model with endogenous job destruction. The outcome is a rich, yet analytically tractable framework that can be used to analyze a broad set of features of both the cross section and the dynamics of the aggregate labor market....

Persistent link: https://www.econbiz.de/10012759553

Minimally Altruistic Wages and Unemployment in a Matching Model

Rotemberg, Julio J. - 2010

This paper presents a model in which firms recruit both unemployed and employed workers by posting vacancies. Firms act monopsonistically and set wages to retain their existing workers as well as to attract new ones. The model differs from Burdett and Mortensen (1998) in that its assumptions...

Persistent link: https://www.econbiz.de/10012759577

Private Information, Wage Bargaining and Employment Fluctuations

Kennan, John - 2010

Shimer (2005) pointed out that although we have a satisfactory theory of why some workers are unemployed at any given time, we don?t know why the number of unemployed workers varies so much over time. The basic Mortensen-Pissarides (1994) model does not generate nearly enough volatility in...

Persistent link: https://www.econbiz.de/10012761769

Mismatch

Shimer, Robert - 2010

This paper develops a dynamic model of mismatch. Workers and jobs are randomly assigned to labor markets. Each labor market clears at each instant but some labor markets have more workers than jobs, hence unemployment, and some have more jobs than workers, hence vacancies. As workers and jobs...

Persistent link: https://www.econbiz.de/10012761787