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The shift to services : a review of the literature

Schettkat, Ronald; Yocarini, Lara - 2003

The present paper provides an overview of literature on the shift to services. It follows the three dimensions of structural change - final demand, the inter-industry division of labor and inter-industry productivity differences. It first looks at the ?classics?, however (Fisher (1935), Clark...

Persistent link: https://www.econbiz.de/10010261657

Is Prescott right?: welfare state policies and the incentives to work, learn and retire

Jacobs, Bas - 2008

This paper bolsters Prescott's (2004) claim that high taxes are responsible for lacklustre labor market performance in continental European countries. We develop a lifecycle model with endogenous skill formation, endogenous labor supply, and endogenous retirement. Labor taxation distorts not...

Persistent link: https://www.econbiz.de/10010264345

ICT diffusion and skill upgrading in Korean industries

Hur, Jai-Joon; Seo, Hwan-Joo; Lee, Young Soo - 2002

We examine the relationship between the directly observable indicator of new technology, ICT investment ratio, and skill upgrading by analysing changes in employment and wage structure of 25 Korean industrial sectors over the 1993-99 period. The results show that there has been little...

Persistent link: https://www.econbiz.de/10010279227

An anatomy of monopsony: Search frictions, amenities and bargaining in concentrated markets

Berger, David; Herkenhoff, Kyle; Kostøl, Andreas R.; … - 2023

We contribute a theory in which three channels interact to determine the degree of monopsony power and therefore the markdown of a worker's spot wage relative to her marginal product: (1) heterogeneity in worker-firm-specific preferences (non-wage amenities), (2) firm granularity, and (3) off-...

Persistent link: https://www.econbiz.de/10014551697

Involuntary unemployment and the business cycle

Christiano, Lawrence J.; Trabandt, Mathias; Walentin, Karl - 2010

We propose a monetary model in which the unemployed satisfy the official US definition of unemployment: they are people ….e., unemployment is ‘involuntary’). We integrate our model of involuntary unemployment into the simple New Keynesian framework with no … capital and use the resulting model to discuss the concept of the ‘non-accelerating inflation rate of unemployment’. We then …

Persistent link: https://www.econbiz.de/10009640338

The Competitive Saving Motive: Concept, Evidence, and Implications

Wei, Shang-Jin; Zhang, Xiaobo - 2015

This short essay surveys recent literature on the competitive saving motive and its broader economic implications. The competitive saving motive is defined as saving to improve one's status relative to other competitors for dating and marriage partners. Here are some of the key results of the...

Persistent link: https://www.econbiz.de/10011432885

Monopsony in the U.S. labor market

Yeh, Chen; Macaluso, Claudia; Hershbein, Brad - 2022

This paper quantifies the extent to which the U.S. manufacturing labor market is characterized by employer market power and how such market power has changed over time. We find that the vast majority of U.S. manufacturing plants operate in a monopsonistic environment and, at least since the...

Persistent link: https://www.econbiz.de/10013342001

Three Strikes and You.re Out: Reply to Cooper and Willis

Caballero, Ricardo J.; Engel, Eduardo M.R.A. - 2004

unemployment. This is incorrect as well, since the 'gap approach' has been derived formally from at least as sophisticated …

Persistent link: https://www.econbiz.de/10010369233

Microeconomic Flexibility in Latin America

Caballero, Ricardo J.; Engel, Eduardo M.R.A.; Micco, … - 2004

We characterize the degree of microeconomic inflexibility in several Latin American economies and find that Brazil, Chile and Colombia are more flexible than Mexico and Venezuela. The difference in flexibility among these economies is mainly explained by the behavior of large establishments,...

Persistent link: https://www.econbiz.de/10010369262

Extending the labour market indicator to the Canadian provinces

Fritsche, Alexander; Ragan, Katherine - 2016

the past year and the gap between the unemployment rate and the LMI has tended to narrow. …

Persistent link: https://www.econbiz.de/10011783285