Download or read book Three Essays in Macroeconomics of the Labor Market written by Edouard Schaal and published by . This book was released on 2011 with total page 210 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Three Essays on the Macroeconomics of the Labor Market written by Ioannis Kospentaris and published by . This book was released on 2018 with total page 131 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this dissertation, I build macroeconomic models to answer questions of empirical relevance for the study of labor markets. The dissertation consists of an introductory overview and three research essays. The first essay is devoted to duration dependence in unemployment, namely the fact that recently unemployed workers have a signicantly better chance of finding a job than the long-term unemployed. I build a directed search model to quantify the importance of three common explanations for this fact: (i) unobserved worker differences, (ii) skill loss, and (iii) job-search effort decline. Two novel results emerge: first, the bulk of the effect of unobserved heterogeneity is concentrated in the first six months of the unemployment spell; the drop in job-finding rates observed at longer spells is mostly a result of skill loss and lower search effort. Second, skill loss has a vastly greater impact on job-finding than the decline in search effort. These results have two clear implications for labor market policy: (i) the impact of active labor market programs is expected to be larger for the long-term unemployed; (ii) job-training programs are expected to be more effective than job-search assistance policies at reducing long-term unemployment. In the second essay I study how information obtained by a worker while trying to find a job affects her job-search effort. Specically, I analyze how a worker, who is uncertain about her labor market traits and learns about them while looking for a job, allocates her search effort over the unemployment spell. The main result is that search effort is increasing over time when the worker is optimistic about her traits but decreasing when the worker is pessimistic about her traits. This result can explain discrepant empirical findings from previous literature on search effort. The final essay is devoted to job-search effort as an insurance channel. I build a model in which workers face substantial risk in the labor market but they have two means of self-insurance against this risk: increase their savings and their search effort. The main result is that when labor market risk becomes more severe workers increase both their savings and search effort but the increase in savings is twice as large as the increase in search effort. That is, workers make use of search effort as an insurance channel but much less than the savings channel.
Download or read book Three Essays on International Macroeconomics with Labor Market Frictions written by C. Kim and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Three Essays in Macroeconomics written by Zhiming Fu and published by . This book was released on 2014 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation studies three main topics in macroeconomics: the impact of labor market frictions on labor supply and income inequality, the impact of goods market frictions on individuals' optimization decisions, and the housing market in the business cycle.
Download or read book Three Essays in the Macroeconomics of Labor Market Dynamics written by Christophre Georges and published by . This book was released on 1989 with total page 146 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Three Essays on the Macroeconomics of Labor Markets written by Fernando Barbosa Filho and published by . This book was released on 2006 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Three Essays On The Macroeconomics Of Labor Markets to 25 Pages 26 to 50 Pages 51 to 75 Pages 76 to 100 Pages 101 to 125 Pages 126 to 150 Pages 151 to 151 written by Fernando Barbosa Filho and published by . This book was released on 2005 with total page 151 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Three Essays on the Labour Market Macroeconomics written by Pedro Trivín and published by . This book was released on 2016 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Three Essays in Labor and Macroeconomics written by Charles T. Carlstrom and published by . This book was released on 1989 with total page 190 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Three Essays in Macroeconomics written by Raphael Anton Maximilian Peter Gabriel Auer and published by . This book was released on 2006 with total page 146 pages. Available in PDF, EPUB and Kindle. Book excerpt: (Cont.) Countries that tend to be close to international supply of skilled labor have lower levels of advanced education, while the reverse is true for countries that are close to labor abundant nations. A one standard deviation difference in geographic proximity to skilled labor is associated with a difference' of about 2/3 of a year of average higher education. Chapter 2 examines why movements of relative costs brought about by exchange rate fluctuations are passed on to customers only slowly, and never to a full extent. We first develop a perfectly competitive economy featuring heterogeneity of both good qualities and of consumer valuations. In equilibrium, high valuation consumers and high quality firms are matched. The relative scarcity of different qualities leads to pricing-to-market and markups that are determined by the local toughness of competition. Our production setup features trade in intermediate goods, local assembly that is subject to decreasing returns and fixed costs of market entry. In every export market, firm entry and size decisions are determined by how local prices compare to the cost of production at home. We next analyze how changes in the real exchange rate are transmitted internationally.
Download or read book Three Essays on Macroeconomics written by Charles S. Wassell and published by . This book was released on 2003 with total page 188 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Three Essays in Macroeconomics written by Rosemary Kaiser and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation is comprised of three divergent chapters in macroeconomics. In the first chapter, I document how many countries have employment protections that create two-tiered labor markets in which some jobs are more secure than others. I model the selection of younger workers into more precarious jobs, as documented empirically. I then estimate the effects of changes to employment protection legislation. By including human capital accumulation in employment and human capital loss during unemployment, the effects of reducing employment protections differ qualitatively from previous work, which ignores the human capital channel. Reducing employment protections increases the job-finding rate for young workers while reducing average income and employment. This result is driven by lower average human capital in the economy without employment protections. The second chapter discusses how wage-proportional staffing fees provide motivation for domestically outsourced workers to invest less in human capital under certain conditions. This may partially explain why, after controlling for observables, workers in these positions earn about 10\% less. I document wage and wage growth differences among workers in the employment services industry. A simple model with firm-specific skill investment is then used to generate endogenous firm-specific skill and wage differences between outsourced and non-outsourced workers. Additionally, the model shows how the prevalence of outsourcing responds to changes in policy and aggregate conditions. The third chapter considers policies to promote the spread of technologies that drive the growth of whole eras and entire sectors. Recent years have seen interest in using regulatory power to internalize the benefits of one such technology: broadband internet. This chapter develops a framework to study how competition among providers affects firm and household technology adoption and subsequent macroeconomic outcomes. With a novel data set on broadband availability, speed, and prices, a model of broadband provider entry and quality choice relates prices to market structure. These pricing results then inform a model of household and firm decisions. An additional provider is estimated to be most effective in boosting firm profitability in markets with relatively educated populations with previously few to no providers. In terms of increasing household adoption, an additional low-speed provider is most effective where median household income is low. An additional high-speed provider is most effective in markets with no high-speed and few low-speed providers.
Download or read book Essays on Macroeconomics and Labor Markets written by Miren Azkarate-Askasua and published by . This book was released on 2020 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This thesis contains three essays on the macroeconomic effects of labor markets with a special emphasis on market power and the determination of wages. In the first chapter, Miguel Zerecero and I study the efficiency and welfare effects of employer and union labor market power. We use data of French manufacturing firms to first document a negative relationship between employment concentration and wages and labor shares. At the micro-level, we identify the effects of employment concentration thanks to mass layoff shocks to competitors. Second, we develop a bargaining model in general equilibrium that incorporates employer and union labor market power. The model features structural labor wedges that are heterogeneous across firms and potentially generate misallocation of resources. We propose an estimation strategy that separately identifies the structural parameters determining both sources of labor market power. Furthermore, we allow different parameters across industries which contributes to the heterogeneity of the wedges. We show that observing wage and employment data is enough to compute counterfactuals relative to the baseline. Third, we evaluate the efficiency and welfare losses from labor market distortions. Eliminating employer and union labor market power increases output by 1.6% and the labor share by 21 percentage points translating into significant welfare gains for workers. Workers' geographic mobility is key to realize the output gains from competition. In the second chapter, Miguel Zerecero and I propose a bias correction method for estimations of quadratic forms in the parameters of linear models. It is known that those quadratic forms exhibit small-sample bias that appears when one wants to perform a variance decomposition such as decomposing the sources of wage inequality. When the number of covariates is large, the direct computation for a bias correction is not feasible and we propose a bootstrap method to estimate the correction. Our method accommodates different assumptions on the structure of the error term including general heteroscedasticity and serial correlation. Our approach has the benefit of correcting the bias of multiple quadratic forms of the same linear model without increasing the computational cost and being very flexible. We show with Monte Carlo simulations that our bootstrap procedure is effective in correcting the bias and we compare it to other methods in the literature. Using administrative data for France, we apply our method by doing a variance decomposition of a linear model of log wages with person and firm fixed effects. We find that the person and firm effects are less important in explaining the variance of log wages after correcting for the bias. In the third chapter, I study peer effects at the workplace. I focus on how potential peers determine a worker's location and her future wage profile. I empirically disentangle if workplace peers affect each other through learning or network effects. Similarly to the literature, I document the importance of learning which is more pronounced for the youngest cohorts arguably with no networks. I propose a structural model to understand the mechanism behind learning. The final goal of the model is to quantify the impact of peer learning the firm geographical allocation of workers, and on the rising between firm wage inequality.
Download or read book Three Essays in Macro Labor Theory written by Renato Faccini and published by . This book was released on 2009 with total page 95 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Essays on the Macroeconomics of Labor Markets written by Sadhika Bagga and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation studies different macroeconomic trends observed in the US labor market over the last three to four decades and understands the link between them. The first chapter focuses on understanding the decline in labor market dynamism in the US. It begins by documenting that worker mobility and wages, relative to productivity, have decreased in the US amid a rise in employer market power. It then proposes a theory of the labor market linking these trends, in which a decline in employer competition, characterized by a lower number of firms per worker, drives the decline in worker mobility and wages. The model has two main ingredients: first, there exists a finite number of employers that differ in productivity, and second, employers exert market power by excluding their offers from the set of outside options faced by their employees. The combined effect of these features, in response to a decreasing number of firms per worker, is to reduce the value of workers' outside options, thereby reducing wages and worker mobility in equilibrium. Overall, the calibrated model accounts for 2/3rd of the decline in employer-to-employer transitions rate and a fifth of the decline in wages relative to productivity from the 1980s to the 2010s. Finally, it evaluates the model's key predictions using the public-use data from the Census and documents that labor markets characterized by a lower number of firms per worker are associated with reduced measures of worker mobility and average wages. The second chapter takes a ‘measurement’ perspective to understand the decline in labor market dynamism. The starting point of the chapter is the observation that over the last four decades, employment composition has shifted towards large firms in the US. This has occurred amidst a decline in employer-to-employer transitions or external dynamism. A natural question is, are workers in large firms climbing job ladders internally rather than externally? Using data from various supplements of the Current Population Survey, it finds evidence of the prevalence of internal job ladders within large firms. It documents that job stayers in large firms, relative to small ones, realize a larger annual pay growth and a higher probability of internal job switching. Accounting for internal job ladders amplifies labor market dynamism and offsets part of the decline in external employer-to-employer switching rates. At the same time, there has been a decreasing trend in the rate of internal job switching, suggesting that the forces affecting declining external dynamism could have also had implications on internal job ladders. Finally, it hypothesizes that the decline in internal dynamism could be driven by the firm's endogenous response to decreasing labor market competition. The third chapter studies secular trends in nominal wage rigidity in the US using the 1996-00 and 2008-13 panels of the Survey of Income and Program Participation (SIPP). Using the empirical methodology of Barattieri, Basu & Gottschalk (2014), it purges measurement errors from self-reported wages by disentangling the structure breaks in individual wage series from noise. It finds evidence of, one, an increase in the frequency of wage adjustment among hourly job-stayers from 1996-2013, and two, a higher proportion of wage cuts during the Great Recession relative to the subsequent recovery. These findings are robust when the methodology is applied to salaried workers. They can be seen in light of increasing labor market flexibility in the US over the recent decades
Download or read book Three Essays in Dynamic Macroeconomics written by Hernán J. Moscoso Boedo and published by . This book was released on 2006 with total page 124 pages. Available in PDF, EPUB and Kindle. Book excerpt:
