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Several authors have proposed staggered wage bargaining as a way to introduce sticky wages into search and matching models while preserving individual rationality. I evaluate the quantitative implications of such an approach. I feed through a series of estimated shocks from US data into a search...
Persistent link: https://www.econbiz.de/10008905754
In the United States, labor's share of income falls after a positive disturbance to productivity growth or inflation, and it remains low for some time. Previous researchers have argued that the negative relationship between productivity growth and labor's share is puzzling. I argue otherwise. A...
Persistent link: https://www.econbiz.de/10009299014
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This article reviews the literature on automation and its impact on labor markets, wages, factor shares, and … market trends and the effects of automation technologies. The task model clarifies that automation technologies operate by … task models and the displacement effects of automation. I conclude by discussing shortcomings of the existing literature …
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I define occupations that are employed in more industries as "broader" occupations. I study the implications of broadness for mismatch of the unemployed and vacancies across occupations and industries. I empirically find that workers in broader occupations are better insured against...
Persistent link: https://www.econbiz.de/10012136711
We develop a measure of labour market opportunities for heterogenous types of worker, exploiting information on their suitability different jobs encoded in historical patterns of worker mobility. We provide a theoretical foundation for our measure, which features naturally in a general random...
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