Download or read book Dynamic Labor Demand and Adjustment Costs written by Giorgio Galeazzi and published by Edward Elgar Publishing. This book was released on 1992 with total page 392 pages. Available in PDF, EPUB and Kindle. Book excerpt: Comprises a collection of essays by various authors on the subject of labour demand and adjusted labour costs which were previously published between 1962 and 1990.
Download or read book Labor Demand and the Source of Adjustment Costs written by Daniel S. Hamermesh and published by . This book was released on 1995 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Most models of dynamic labor demand are written in terms of costs of adjusting employment (net adjustment costs). A few are based on the costs of hiring and firing (gross adjustment costs). This study derives several models containing both types of adjustment costs. A dynamic-programming model with quadratic adjustment costs generates an estimate of the lower bound on the fraction of adjustment costs that are gross costs. A model with lumpy costs of adjustment also estimates the relative sizes of the two types of costs. The models are estimated over two sets of short monthly time series obtained from private sources, one from a medium-size hospital, the other describing three plants operated by a small manufacturing firm, The quadratic-cost model is also estimated using data describing small industries. The estimates demonstrate that the importance of the two types of costs differs across establishments, though gross adjustment costs appear relatively larger. The results provide evidence on issues of asymmetry in business cycles and the role of human capital in generating externalities in economic growth.
Download or read book Dynamic Labor Demand with Lumpy and Kinked Adjustment Costs written by Paola Rota and published by . This book was released on 2001 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We analyze the dynamics of firms' employment decisions which underlie lumpy and kinked adjustment costs. We consider a dynamic structural model in which, in each period, firms face a choice of whether to vary the labor input or to postpone the adjustment to the future. By exploiting the first order condition for optimality, we derive a semi-reduced form in which firms' intertemporal employment are defined by a standard static marginal productivity condition augmented by a forward-looking term. In this way we obtain a marginal productivity equilibrium relation which takes into account the future alternatives of adjustment or non-adjustment that firms face as the result of the presence of fixed and linear adjustment costs. Linear costs amount to 35% of average labor costs, and fixed costs are estimated to be about 3.65 times average unit labor costs.
Download or read book Labor Demand written by Daniel S. Hamermesh and published by Princeton University Press. This book was released on 2021-01-12 with total page 464 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this book Daniel Hamermesh provides the first comprehensive picture of the disparate field of labor demand. The author reviews both the static and dynamic theories of labor demand, and provides evaluative summaries of the available empirical research in these two subject areas. Moreover, he uses both theory and evidence to establish a generalized framework for analyzing the impact of policies such as minimum wages, payroll taxes, job- security measures, unemployment insurance, and others. Covering every aspect of labor demand, this book uses material from a wide range of countries.
Download or read book A General Model of Dynamic Labor Demand written by Daniel S. Hamermesh and published by . This book was released on 1990 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book A Genral Model of Dynamic Labor Demand written by Daniel S. Hamermesh and published by . This book was released on 1990 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study derives and estimates a dynamic model of factor demand that includes both fixed and quadratic variable costs of adjustment. Using quarterly data on the employment of mechanics at seven airlines, it finds that both types of adjustment costs characterize the dynamic constraints facing employers. Using monthly data covering production-worker employment in seven manufacturing plants, it shows that only fixed costs are important. The apparent diversity of the underlying costs of adjustment means it is difficult to draw useful inferences from macroeconometric estimates. It suggests the importance of examining broader arrays of microeconomic time series describing labor demand.
Download or read book Dynamic Labor Demand in an Open Economy written by Kristin M. Hallberg and published by . This book was released on 1982 with total page 684 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Linear Adjustment Costs and Seasonal Labor Demand written by Patricia M. Anderson and published by . This book was released on 1992 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Demand for Labor written by Daniel S. Hamermesh and published by Oxford University Press. This book was released on 2017-05-19 with total page 464 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book collects articles published by Daniel Hamermesh between 1969 and 2013 dealing with the general topic of the demand for labor. The first section presents empirical studies of basic issues in labor demand, including the extent to which different types of labor are substitutes, how firms' and workers' investments affect labor turnover, and how costs of adjusting employment affect the dynamics of employment and patterns of labor turnover. The second section examines the impacts of various labor-market policies, including minimum wages, penalty pay for using overtime hours or hours worked on weekends or nights, severance pay for displaced workers, and payroll taxes to finance unemployment insurance benefits. The final section deals with general questions of discrimination by employers along various dimensions, including looks, gender and ethnicity, in all cases focusing on the process of discrimination and the behavior that results. Throughout the focus is on the development of theoretically-based hypotheses and testing them using the most appropriate data, often data collected uniquely for the particular project.
Download or read book Dynamic Labour Demand with Lumpy and Kinded Adjustment Costs written by Paola Rota and published by . This book was released on 1999 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Dynamic Labour Demand with Lumpy and Kinked Adjustment Costs written by Paola Rota and published by . This book was released on 1999 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Dynamic Labour Demand written by Paola Rota and published by . This book was released on 1994 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Dynamic Wage employment Bargaining with Employment Adjustment Costs written by Ben Lockwood and published by . This book was released on 1988 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book An Empirical Study of Dynamic Labor Demand with Integrated Forcing Processes written by Robert A. Amano and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper, we examine a version of the Sargent (1978) and Kennan (1979) labor demand model under the assumption that the forcing processes are nonstationary. We derive a simple model of dynamic labor demand and highlight the important econometric and time-series implications of the optimization problem. The empirical results are surprisingly favorable and consistent with the underlying dynamic theory. Specifically, we find estimates that imply adjustment costs are about fourfold more important than disequilibrium costs in determining the dynamic demand for labor.
Download or read book Dynamic Labor Demand in China Public and Private Objectives written by and published by . This book was released on 2010 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Turnover and the Dynamics of Labor Demand written by Daniel S. Hamermesh and published by . This book was released on 1992 with total page 13 pages. Available in PDF, EPUB and Kindle. Book excerpt: The theory of the dynamics of labor demand is based either on the costs of adjusting the level of employment or on the costs of hiring or firing (of gross changes in employment). We write down a generalized cost of adjustment function that includes both types of cost and allows for asymmetries in those costs. We derive the firm's rational-expectations profit - maximizing path of employment demand and the Euler equation whose parameters we estimate. Identifying the two types of costs requires complete data on turnover, which were available for the U.S. through 1981. We use these data for manufacturing to demonstrate that both types of adjustment cost figure in the representative firm's profit-maximizing decisions about employment, and that both types of cost are asymmetric (leading here to quicker increases than decreases in employment).
Download or read book Empirical Evidence on the Cost of Adjustment and Dynamic Labour Demand written by Robert A. Amano and published by . This book was released on 2008 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper the author examines whether there is significant evidence of the effect of adjustment costs on Canadian labour demand. This is an important question, as sluggish adjustment of labour demand resulting from significant adjustment costs may be one factor that could help explain some of the unemployment persistence found in Canadian data. The author uses a linear-quadratic model and attempts to estimate the relative adjustment costs of labour demand as well as its rate of adjustment towards long-run equilibrium. In contrast to others who have examined the dynamic behaviour of labour demand, the author estimates the structural parameters using the Euler equation and employs a limited-information approach that does not require an explicit solution for the model's control variables in terms of the forcing processes. The empirical estimates imply that adjustment costs are about four times more important than disequilibrium costs and that it takes over three and a half years for 90 per cent of labour demand adjustment to be completed. Therefore the author concludes that significant adjustment costs are an important feature of Canadian labour demand and that sluggishness due to these costs may be one explanatory factor in unemployment persistence.
