Estimation of a Disequilibrium Aggregate Labor Market PDF Download
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Author: Harvey S. Rosen
Publisher:
ISBN:
Category : Labor supply
Languages : en
Pages : 50
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Book Description
Author: Harvey S. Rosen
Publisher:
ISBN:
Category : Labor supply
Languages : en
Pages : 50
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Book Description
Author: Marianne Stenius
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Author: Hans-Jürg Büttler
Publisher: Springer Science & Business Media
ISBN: 3642483402
Category : Business & Economics
Languages : en
Pages : 124
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Book Description
This monograph grew out of a project which was sponsored by the Swiss National Foundation ("Schweizerischer Nationalfonds") under grant no. 4. 636-0. 83. 09. Yithin this project, prediction-oriented estimation methods for the canonical econometric disequilibrium model were developed. The present monograph deals with the application of these estimation techniques to three aggregative markets of the Swiss economy. Parts of the monograph have been presented at various places: the estimation techniques described in chapter 3 at the European Meeting of the Econometric Society, Madrid 1984; the application to residential investment described in chapter 4 at a symposium on housing policy at the University of Mannheim, 1984; the empirical study on the money stock described in chapter 5 at the Symposium on Money, Banking and Insurance held at the University of Karlsruhe, 1984, as well as at a joint seminar of the University of Basle and the Bank for International Settlements (BIS), 1985; and, finally, the empirical study on the aggregate labor market described in chapter 6 at a seminar of the University of ZUrich, 1985. Comments from toe seminar participants, in particular from Palle S. Andersen (BIS) who served as a discussant, Pascal Bridel (Swiss National Bank, SNB), Franz Ettlin (SNB), and Kurt Schiltknecht (Nordfinanz-Bank, Zurich) are gratefully acknowledged, without implying any responsibility on their part. The methodological part described in chapters 2 and 3 is contributed by G. Frei and B.
Author: Richard E. Quandt
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 120
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Author: Glenn D. Rudebusch
Publisher: Springer
ISBN:
Category : Business & Economics
Languages : en
Pages : 148
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Author: Orley Ashenfelter
Publisher:
ISBN:
Category : Employment (Economic theory)
Languages : en
Pages : 70
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Author: Matthew Baird
Publisher:
ISBN:
Category :
Languages : en
Pages : 28
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Book Description
While economic studies often assume that labor markets are in equilibrium, there may be specialized labor markets likely in disequilibrium. We develop a new methodology to improve the estimation of a disequilibrium model that incorporates a survey-based shortage indicator into the model and estimation strategy. We demonstrate the gains in information provided by the methodology. We apply the model to the labor market of anesthesiologists, the outcomes of which would be of independent interest. We find improved accuracy in the estimation as well as useful information revealed by the expanded model.
Author: Mr.Bankim Chadha
Publisher: International Monetary Fund
ISBN: 1451853033
Category : Business & Economics
Languages : en
Pages : 38
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Book Description
The IMF Working Papers series is designed to make IMF staff research available to a wide audience. Almost 300 Working Papers are released each year, covering a wide range of theoretical and analytical topics, including balance of payments, monetary and fiscal issues, global liquidity, and national and international economic developments.
Author: Jean-Paul Lambert
Publisher: CUP Archive
ISBN: 9780521322096
Category : Business & Economics
Languages : en
Pages : 204
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Author: Richard E. Quandt
Publisher:
ISBN:
Category : Equilibrium (Economics)
Languages : en
Pages : 54
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Book Description
The paper specifies a disequilibrium model for the aggregate labor market consisting of demand and supply functions for labor, an adjustment equation for wages as well as for prices, a transactions equation and, finally, an equation that relates measured unemployment to vacancies and to excess demand. The model has a more sophisticated treatment of dynamics than earlier disequilibrium models, and uses measured unemployment as an endogenous variable. Two of the error terms are assumed to be serially correlated and the coefficients are estimated by maximum likelihood. The parameter estimates and the goodness-of-fit are satisfactory and the model's implications for the behavior of several important variables are sensible. Excess demand estimates computed in various ways are reasonable. The model is used to estimate the natural rate of unemployment as well as a short run Phillips curve. Finally, the stability properties ofthe model are analyzed by considering the eigenvalues of the system; they are found to have moduli less than one.
