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A Comparison of the Human Capital and Signaling Models: The Case of the Self-Employed and the Increase in the Schooling Premium in the 1980?s
Lofstrom, Magnus - 2000
?s. The paper compares the predictions of the signaling and human capital models in response to an exogenous demand shock … hypotheses are derived. The findings suggest that the signaling model may indeed predict the observed changes in the schooling …
Persistent link: https://www.econbiz.de/10010262368
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Wage rigidity and job creation
Haefke, Christian; Sonntag, Marcus; van Rens, Thijs - 2009
Standard macroeconomic models underpredict the volatility of unemployment fluctuations. A common solution is to assume wages are rigid. We explore whether this explanation is consistent with the data. We show that the wage of newly hired workers, unlike the aggregate wage, is volatile and...
Persistent link: https://www.econbiz.de/10010270767
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It's the media, stupid: how media activity shapes public spending
Bruns, Christian; Himmler, Oliver - 2008
Politicians seeking reelection need voters to know what they have done for them. Thus, incentives may arise to spend more money where media coverage is higher. We present a simple model to explain the allocation of public spending across jurisdictions contingent on media activity. An incumbent...
Persistent link: https://www.econbiz.de/10010264514
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Labor Market Flows and Equilibrium Search Unemployment
Garibaldi, Pietro; Wasmer, Etienne - 2001
labor market states. In steady-state, we hence have a theory of equilibrium unemployment determined by both matching …
Persistent link: https://www.econbiz.de/10010262607
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Minimum Wages and On-the-Job Training
Acemoglu, Daron; Pischke, Jörn-Steffen - 2001
Becker?s theory of human capital predicts that minimum wages should reduce training investments for affected workers because they prevent these workers from taking wage cuts necessary to finance training. In contrast, in noncompetitive labor markets, minimum wages tend to increase training of...
Persistent link: https://www.econbiz.de/10010262588
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An incentive theory of matching
Brown, Alessio J. G.; Merkl, Christian; Snower, Dennis J. - 2009
This paper presents a theory explaining the labor market matching process through microeconomic incentives. There are … quit decisions. This approach obviates the need for a matching function. On this theoretical basis, we argue that the … matching function is vulnerable to the Lucas critique. Our calibrated model for the U.S. economy can account for important …
Persistent link: https://www.econbiz.de/10010277955
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An incentive theory of matching
Brown, Alessio J. G.; Merkl, Christian; Snower, Dennis J. - 2009
This paper presents a theory explaining the labor market matching process through microeconomic incentives. There are … quit decisions. This approach obviates the need for a matching function. On this theoretical basis, we argue that the … matching function is vulnerable to the Lucas critique. Our calibrated model for the U.S. economy can account for important …
Persistent link: https://www.econbiz.de/10010278021
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The cyclical behavior of equilibrium unemployment and vacancies revisited
Hagedorn, Marcus; Manovskii, Iourii - 2008
Recently, a number of authors have argued that the standard search model cannot generate the observed business-cycle-frequency fluctuations in unemployment and job vacancies, given shocks of a plausible magnitude. We use data on the cost of vacancy creation and cyclicality of wages to identify...
Persistent link: https://www.econbiz.de/10011604899
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On the Cyclicality and Stability of Real Earnings
Hart, Robert A.; Malley, James R. - 1999
We show in this paper that important insights into the cyclical behaviour of wages can be gained by dividing (real) average hourly earnings into their straight-time hourly wage and overtime components. Our motivation is based on the idea of employment-contingent contracts. BLS published and...
Persistent link: https://www.econbiz.de/10010262275
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Wage growth and job mobility in the early career: Testing a statistical discrimination model of the gender wage gap
Belley, Philippe; Havet, Nathalie; Lacroix, Guy - 2012
The paper focuses on the early career patterns of young male and female workers. It investigates potential dynamic links between statistical discrimination, mobility, tenure and wage profiles. The model assumes that it is more costly for an employer to assess female workers' productivity and...
Persistent link: https://www.econbiz.de/10010289893