Equilibrium Wage Dispersion: An Example PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download Equilibrium Wage Dispersion: An Example PDF full book. Access full book title Equilibrium Wage Dispersion: An Example by Damien Gaumont. Download full books in PDF and EPUB format.
Author: Damien Gaumont
Publisher: INTERNATIONAL MONETARY FUND
ISBN: 9781451862799
Category :
Languages : en
Pages : 16
Get Book Here
Book Description
Search models with posting and match-specific heterogeneity generate wage dispersion. Given K values for the match-specific variable, it is known that there are K reservation wages that could be posted, but generically never more than two actually are posted in equilibrium. What is unknown is when we get two wages, and which wages are actually posted. For an example with K = 3, we show equilibrium is unique; may have one wage or two; and when there are two, the equilibrium can display any combination of posted reservation wages, depending on parameters. We also show how wages, profits, and unemployment depend on productivity.
Author: Damien Gaumont
Publisher: INTERNATIONAL MONETARY FUND
ISBN: 9781451862799
Category :
Languages : en
Pages : 16
Get Book Here
Book Description
Search models with posting and match-specific heterogeneity generate wage dispersion. Given K values for the match-specific variable, it is known that there are K reservation wages that could be posted, but generically never more than two actually are posted in equilibrium. What is unknown is when we get two wages, and which wages are actually posted. For an example with K = 3, we show equilibrium is unique; may have one wage or two; and when there are two, the equilibrium can display any combination of posted reservation wages, depending on parameters. We also show how wages, profits, and unemployment depend on productivity.
Author: Fabien Postel-Vinay
Publisher:
ISBN:
Category : Equilibrium (Economics)
Languages : en
Pages : 88
Get Book Here
Book Description
Author: Dale T. Mortensen
Publisher: Oxford University Press, USA
ISBN: 0199233780
Category : Business & Economics
Languages : en
Pages : 219
Get Book Here
Book Description
A selection of key papers from the winners of the Nobel Memorial Prize 2010. It features their most important work on unemployment, labour market dynamics, and the equilibrium search model.
Author: Dale Mortensen
Publisher: MIT Press
ISBN: 9780262633192
Category : Business & Economics
Languages : en
Pages : 170
Get Book Here
Book Description
A theoretical and empirical examination of wage differentials findsthat traditional theories of competition do not explain why workers with identical skills are paid differently.
Author: Orley Ashenfelter
Publisher: Elsevier
ISBN: 0444534520
Category : Business & Economics
Languages : en
Pages : 1141
Get Book Here
Book Description
A guide to the continually evolving field of labour economics.
Author: J. C. van Ours
Publisher: North Holland
ISBN:
Category : Business & Economics
Languages : en
Pages : 408
Get Book Here
Book Description
The new economics of labor demand and personnel is presented in this collection of 14 original essays. The main purpose of the volume is to bridge the existing knowledge application gap. Particular attention is paid to nonlinear labor demand dynamics and equilibrium models for job flows, search, and wage growth. At the end of each paper a comment by an expert reviewer is provided.
Author: Andrew Weiss
Publisher: Princeton University Press
ISBN: 140086206X
Category : Political Science
Languages : en
Pages : 126
Get Book Here
Book Description
Known for his seminal work in efficiency-wage theory, Andrew Weiss surveys recent research in the field and presents new results. He shows how wage schedules affect the kinds of workers a firm employs and how well those workers perform on the job. Using straightforward examples, he demonstrates how efficiency-wage theory can explain labor market outcomes and guide government policy. There is a separate section of applications to less developed countries. "Efficiency-wage models represent one of the most important developments in economic theory of recent years. They have, at last, provided integrated explanations both of macroeconomic phenomena, such as unemployment and wage rigidity, and microeconomic phenomena, such as wage dispersion. Weiss--one of the pioneers of efficiency-wage theory--provides here a masterful survey, a lucid and systematic and yet critical account of this rapidly developing branch of economics. This book should be required reading in all courses in macroeconomics."--Joseph Stiglitz, Stanford University "Efficiency Wages should be on the bookshelf of all labor and macroeconomists."--Lawrence H. Summers, Harvard University "A splendid monograph ... most readable... I will put it on my reading list."--Partha Dasgupta, Stanford University Originally published in 1991. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.
Author: Henning Bunzel
Publisher: Emerald Group Publishing
ISBN: 0444520899
Category : Business & Economics
Languages : en
Pages : 613
Get Book Here
Book Description
Selected papers from a conference held in honour of Professor Dale T. Mortensen upon the occasion of his 65th birthday. It includes papers on some of Professor Dale T. Mortensen's current research topics, as well as additional theoretical papers, and micro- and macro-econometric papers.
Author: Kenneth Wolpin
Publisher: Routledge
ISBN: 1136459480
Category : Business & Economics
Languages : en
Pages : 112
Get Book Here
Book Description
In the last twenty years there has been an explosion of economic research on labor force dynamics; the movement of individuals between labor force states. This book focuses on the methods by which behavioral theories of labor force dynamics have been empirically implemented. Most attention is paid to the partial equilibrium two-state transitional model of job search behavior. That model is the foundation for much of our thinking about the nature of unemployment at both the individual and aggregate levels. Although the basic formulation has remained the same, approaches to the empirical implementation of such models has changed dramatically.
Author: Bent Jesper Christensen
Publisher: Princeton University Press
ISBN: 1400833108
Category : Business & Economics
Languages : en
Pages : 488
Get Book Here
Book Description
Economic Modeling and Inference takes econometrics to a new level by demonstrating how to combine modern economic theory with the latest statistical inference methods to get the most out of economic data. This graduate-level textbook draws applications from both microeconomics and macroeconomics, paying special attention to financial and labor economics, with an emphasis throughout on what observations can tell us about stochastic dynamic models of rational optimizing behavior and equilibrium. Bent Jesper Christensen and Nicholas Kiefer show how parameters often thought estimable in applications are not identified even in simple dynamic programming models, and they investigate the roles of extensions, including measurement error, imperfect control, and random utility shocks for inference. When all implications of optimization and equilibrium are imposed in the empirical procedures, the resulting estimation problems are often nonstandard, with the estimators exhibiting nonregular asymptotic behavior such as short-ranked covariance, superconsistency, and non-Gaussianity. Christensen and Kiefer explore these properties in detail, covering areas including job search models of the labor market, asset pricing, option pricing, marketing, and retirement planning. Ideal for researchers and practitioners as well as students, Economic Modeling and Inference uses real-world data to illustrate how to derive the best results using a combination of theory and cutting-edge econometric techniques. Covers identification and estimation of dynamic programming models Treats sources of error--measurement error, random utility, and imperfect control Features financial applications including asset pricing, option pricing, and optimal hedging Describes labor applications including job search, equilibrium search, and retirement Illustrates the wide applicability of the approach using micro, macro, and marketing examples
