In this chapter, Lars Osberg and Andrew Sharpe provide an overview of trends in a number of dimensions of economic well-being (consumption flows, stocks of wealth, income equality, and economic security) from the lens of the Index of Economic Well-being, a new composite measure of economic...

We study a model in which firms compete to retain and attract workers searching on the job. A drop in the rate of on-the-job search makes such wage competition less likely, reducing expected labor costs and lowering inflation. This model explains why inflation has remained subdued over the last...

We use novel high-frequency panel data on individuals' job applications from a job posting website to study how job seekers direct their applications over the course of job search. We find that at the beginning of search, applicants are sorted across vacancies by education. As search continues,...

Ljungqvist and Sargent (2017) (LS) show that unemployment fluctuations can be understood in terms of a quantity they call the "fundamental surplus." However, their analysis ignores risk premia, a force that Hall (2017) shows is important in understanding unemployment fluctuations. We show how...

The paper attempts to build a wage equation, bringing in the concept of indivisibility of labor, and aims at finding out how complete wage equation reduces the immediate unemployment rate or the hazard rate of unemployment.This paper formally derives the standard wage equation considering all...

Using the Indian National Sample Surveys and Participatory Labour Force Survey this paper presents a descriptive analysis of the role of education, occupation, wages and intersectoral movement of labour on the evolving demand for skills over the period of 1999-00 to 2017-18. First, the paper...

In many developing economies rate of unemployment is increasing with skill accumulation and thereby leading to underemployment. Our paper offers to look at skill formation as a demand side problem not as a traditional supply side problem and also how skill formation or education affects...