Showing 1 - 10 of 10,742
This paper presents a computable general equilibrium model that simulates the effects on employment, output, wages, and economic efficiency of introducing comparable worth into the U.S. economy. The model calculates economy-wide aggregate impacts and disaggregated results for individuals grouped...
Persistent link: https://www.econbiz.de/10012476979
In this paper, we outline the cost minimizing behavior of oligopoly firms and the price adjustment process in the labor market which underlie the traditional formulation of aggregate wage-price behavior in the U.S., and show that resulting equations applied to U.S. data remain stable before and...
Persistent link: https://www.econbiz.de/10012474372
Most governments are mandated to maintain their economies at full employment. We propose that the best marker of full employment is the efficient unemployment rate, u*. We define u* as the unemployment rate that minimizes the nonproductive use of labor--both jobseeking and recruiting. The...
Persistent link: https://www.econbiz.de/10013334429
The role of data analysis in communication, persuasion, and decision-making is discussed. Some problems with current … data-analysis practice are presented, including communication, complex models, large data bases, one-pass processing, rigid …
Persistent link: https://www.econbiz.de/10012479059
Information is a crucial ingredient in economic decision making. Yet measuring the extent of information exchange among individuals and its effect on economic outcomes is a difficult task. We use the universe of de-identified cellphone usage records from more than one million users in a Chinese...
Persistent link: https://www.econbiz.de/10012479822
The thoughts and behaviors of financial market participants depend upon adopted cultural traits, including information signals, beliefs, strategies, and folk economic models. Financial traits compete to survive in the human population, and are modified in the process of being transmitted from...
Persistent link: https://www.econbiz.de/10012481293
We provide a selective survey of empirical evidence on the effects as well as the drivers of persuasive communication … response to persuasive communication? In particular, we distinguish information-based models from preference-based models …
Persistent link: https://www.econbiz.de/10012463352
Over the last two decades, communication has become an increasingly important aspect of monetary policy. These real …-world developments have spawned a huge new scholarly literature on central bank communication -- mostly empirical, and almost all of it … written in this decade. We survey this ever-growing literature. The evidence suggests that communication can be an important …
Persistent link: https://www.econbiz.de/10012464715
We develop a model of asset price bubbles based on the communication process between advisors and investors. Advisors …
Persistent link: https://www.econbiz.de/10012465142
particularly attractive locations to offshore? In this paper we address these questions with a theory of international production … hierarchies in which organizations arise endogenously to make efficient use of agents' knowledge. Our theory highlights the role … that the positive effect of middle skills on offshoring is weaker, the more advanced are communication technologies in the …
Persistent link: https://www.econbiz.de/10012466472