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Questions tagged [labor-economics]

Labor economics is the branch of microeconomics that studies labor markets and its peculiarities. Labor economists usually study topics such as career choice, returns to schooling, determinants of labor productivity, wages, gender and racial gaps.

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Can we measure labor demand by the wage bill?

Does it imply the assumption that there is never an excess demand for labor? And so we can measure labor demand as an equilibrium value, the wage bill. Reference: In the introduction of this paper (...
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What is the relation between the trade deficit and the outsourcing of jobs?

To make it easier, let's imagine USA exports nothing and imports nothing (or the exports have the same value with the imports = 0 trade deficit = the country exports the same amount of jobs as it is ...
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In a Neoclassical model, if $w$ is the wage rate and $L$ is total hours, $w \times L$ is the wage bill. Is this correct?

Also, from the production point of view, we call $w \times L$ the wage bill, which is the total labor income from the consumption side point of view. Correct?
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30 views

Elasticity of substitution between leisure in two periods

This is a basic question, but I am new to macro models. The question is from Romer's text. Assume a household only has one member and has no initial wealth, and the household lives for two periods. ...
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Is there any reliable data on what % of the UK population currently earn less than £17,300 annually?

According to the Living Wage Foundation the "real living wage" in the UK is £9 an hour Which assuming a 37 hour week & rounding to the nearest whole GBP amounts to £17,375 Formula used ((9*37)/...
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What affects the percent of working women within the country

I am making a multidimensional regression model. The independent variables that I have chosen are : 1)GDP per capita 2)life expectancy 3)average birth per woman 4)female unemployment 5)feminine ...
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What predictions do economic models make for an economy where 50% of the population earn less than the cost of living? [closed]

These are the admittedly somewhat disparate pieces of information gleaned from separate sources that the question arose from. According to The living wage foundation the real cost of living in ...
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Reference request: Gender wage gap / Minority wage gap

Disclaimer: I am neither a social scientist nor an economist. I hope the ESE is the right place to ask this question. Disclaimer 2: I do not intend to spark an ideologically driven discussion here. ...
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What impact would falling oil prices have on the natural rate of unemployment?

My intuition is that as the price level falls, cost of inputs is falling for suppliers and their output increases. More people are then employed to increase production - correct?
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Instrumental Variable Paper for Minimum Wage

I am trying to write a paper dealing with minimum wages and employment. I understand there is simultaneity bias between these two variables so I must come up with an instrument. Does anyone have any ...
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1answer
125 views

Endogenous Gentrification and Rates of Return to Education

Gentrification is, roughly speaking, the displacement or exclusion of poor people from areas with improved amenities due to higher rents and costs of living. The question I have is whether better ...
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In GDP growth studies, are factors of production measured as stock or flows?

Consider the following cases: One machine (capital) is used by multiple producers within one year. For instance, farmers renting tractors from the same company. In this case, in terms of GDP, there ...
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Labour markets and supply-side policies: too much stress put on the WS push factors?

In reading several macro textbooks, it seems that most of the supply-side policies tend to be focused on the labour supply side (wage setting curve), instead on the firm/labour demand side(price ...
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379 views

Interest rate Effects on labour supply

I was analysing, free of specificities, the effects of an increase in the real interest rate on labour supply in a two period setting. The obvious effect on leisure is the intertemporal substitution ...
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1answer
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reference request: models of how racism or sexism affects decision making

My background is more in statistics and applied math, so I am not familiar with the breadth of decision making models from economics. However, I am working on a project that involves decision making ...
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Best financial model to proportionally distribute the company's income to all employees?

I'm planning to start a project of something "innovative". And among some of the parts of the project that I'm thinking about, it's in the term of how money (profits) should be distributed. The truth ...
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Why does immigration boost the economy? (or does it not…?)

I'm a novice at macroeconomics, and trying to understand the effect of immigration (from developing nations) on the economy of a developed nation. Specifically, I am considering the effect when the ...
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1answer
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Macroeconomic models with labor-replacing capital?

I am reading article http://public.gettysburg.edu/~tlin/research/robots-main.pdf "A New Keynesian Model with Robots: Implications for Business Cycles and Monetary Policy" and I wonder how actual this ...
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1answer
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Labour Productivity Growth and Reallocation of Labour

Using a shift-share methodology, labour productivity growth can be arise from productvity growth within a sector (within effect) or reallocation of labour to sectors with higher productivity (...
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What is the total contribution to the US GDP through penal labour?

According to the International Labor Organization, in 2000-2011 wages in American prisons ranged between $\$0.23$ and $\$1.15$ an hour. In California, prisoners earn between $\$0.30$ and $\$0.95$ an ...
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Why do stricter emission limits cost jobs?

I live in Germany and as most people know the car industry is very important in our country. Currently, there is a discussion about stricter emission limits for cars in the European Union. The car ...
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2answers
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Productivity and wages in a task-based model

In a task-based model like the one developed in Acemoglu&Autor 2011 with two types of worker, can the low type have a higher wage with respect to the high type? More specifically: if the ...
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4answers
536 views

How does the professional class fit into Marx and Engel's class struggle theory?

I know that in the first part of The Communist Manifesto, Marx and Engles discuss at length the relationship between the Bourgeois and the Proletarians. The former being the owners of the means of ...
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1answer
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Hours worked increases with wage

So I have been given a utility function = $ 48 R + Ry -R^2$ where $R$ represents leisure hours and $y$ represents labour income. $y=rl$, $r$ is wage rate and $l$ is labour hours. Find hours worked ...
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A confusion regarding search and matching model in Pissarides's “Equilibrium Unemployment Theory” book

I was studying chapter 1 of the book "Equilibrium Unemployment Theory" and I got confused about the way Pissarides has defined the probability of a firm not finding a worker in a short time interval $...
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How can the number of hairdressers in the UK be up 50% since 2010?

In this recent article, The Economist argues that one of the reasons behind the anaemic recent wage growth in Britain is that the recent job growth has been concentrated in lower-productivity jobs and ...
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2answers
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How do Marxists account for fiat money?

LTV predicts that fiat currency, which requires zero labor to produce, should have zero value. Empirically, fiat currency does not have zero value. How do Marxists account for this. The to responses I ...
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Empirical explanation on divergence between productivity and wages since the 70s

There is a well know graph, that shows a tight link between productivity and wages, until the 70s, and a break of the link since: There's a lot of possible explanations for this, I keep hearing more ...
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2answers
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Does it make economic sense for only some universities in a certain area to pay their sports scholars?

Apparently ‘Athletic scholarships are common in the United States, but in many countries they are rare or non-existent.’ But are there countries where there are some universities that offer sports ...
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1answer
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Burdett and Mortensen (1998), Equation (22), Integral by parts question

Suppose $F(x)$ and $H(x)$ are both cumulative prob dist functions on the support of $[b_0,b_1]$ and we know followings: $$u(x|F)=\int_{b_0}^{x}\frac{m}{1+k[1-F(b)]} dH(b)$$ and from this $$[1+k(1-...
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5answers
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How do Marxist economists solve the Diamond-Water Paradox?

For class surveying different economic systems, I read a book on Marxism and its core beliefs. As I read, I came to learn that the Marxist view of economics depends heavily on the Labor Theory of ...
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JK Galbraith Quote: How to interpret?

I came across a very thought-provoking quote by JK Galbraith concerning supply-side economics. The quote is as follows: The poor don't work because they have too much money. The rich don't work ...
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labor share and growth

Is there a link between the level of the labor share and growth? In standard models growth is the rate of (labor augmenting) technical progress and labor force. So does that mean if the labor share ...
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Neo-Classical or Neo-Institutionalist Labor Economists?

How would you classify labor economists as neo-classical or neo-institutionalist? I have just begun reading Boyer and Smith (2001) and the authors emphasize the role that institutionalist have played ...
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Dissertations and Advisers of well established economists?

I am researching on labor economists like Francine D. Blau, graduated from Harvard University PhD. Econ 1975. I am trying to find her dissertation and her doctoral advisers to understand the school of ...
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Has any research found that automation will decrease inequality?

A paper by IMF researchers (but not an official position of the IMF) has found that automation will lead to higher inequality under all scenarios they considered. Even in the scenario where robots ...
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1answer
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Articles about the economics of non-compete contracts

Today I read in a non-scientific article that Amazon requires some physical workers to sign non-compete agreements. I used to think that the idea behind allowing non-compete clauses in contracts is to ...
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Unemployment Rate Volatility

Is there a statistic that describes the “churn” in the unemployment rate i.e. how many became unemployed compared to how many found work? I’ve heard of unemployment volatility (https://www....
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How would the innovation curve and market design change because of AI generated/ assisted IP

How would the IP market change if AI generated/ assisted IP (Patents) are allowed. As of now, Copyrights do not permit non-human authorship and Patent law is silent about such cases. I want to ...
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1answer
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Does labor mobility create a certain type of market failure?

Oxford professor Ewart Keep writes in a paper titled Market Failure in Skills (p. 3) that For firms there is the problem of investment in staff who may leave taking their skills with them. ...
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How will non-rich citizens make a living if jobs keep getting replaced by robots and are outsourced?

Decades ago a factory job could support a wife and kids until retirement and they offered insurance, benefits, etc. Now, no more unions, those jobs as well as tech and customer service jobs are ...
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Would the military be more efficiant if they were unionized?

I hear about the extremely long work hours in the army. I understand it hardens them for readiness for combat situations. With the technology and increase of intelligence need to operate it would a ...
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What is a good employment projection number? (bls.gov)

I can't seem to find an answer via google. How do I use bls.gov's employment projection numbers to find a degree or a career worth pursuing? Mechanical Engineering is projected to have 25,000 jobs ...
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43 views

Profit maximizing by monopsonist facing separate labour supply schedules for males and females

Suppose a firm is a monopsonist in the labor market and faces separate labor supply functions for males and female workers. The labor supply function for male workers is given by: $L_m$= $w_m^k$ ...
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Lack of skilled IT workforce, but they do not raise wages

In my country, Portugal, many IT companies are always complaining in media regarding the lack of skilled IT workforce, but they do not raise wages. We have statistical data from the government that ...
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2answers
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Ad-driven skills gap?

In a Business Insider piece I read that: Michael Madowitz, an economist at the Center for American Progress, says he is "unusually unsympathetic to the evergreen skills gap critique." "First ...
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1answer
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Economic impacts of Migration on the Labour Market

Many natives don't prefer foreigners taking their jobs, is it actually a bad thing for the countries economy?
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Labour Market: simple macroeconomic modeling

I just started reviewing macroeconomic modeling for an upcoming entry exam, and I'm not sure about my answers in this application: Suppose that the economy of a country has a representative firm ...
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Why doesn't the concept of employee engagement work in practice? [closed]

The concept of employee engagement looks like an overwhelming obvious way of improving business performance, yet since the mid-nineties, and after spending billions on engagement improvement systems, ...
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3answers
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Do machines reduce labor… or so they redistribute, alter, and globally increase labor?

John Stuart Mill famously remarked that labor-saving machines have not saved one minute of labor. More seriously, Marx argued, roughly, that machines can gain temporary market advantage, but cannot ...