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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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Why aren't there more super-stars in educational content delivery?

The super-star phenomena seems to happen in any field where the marginal cost of distribution is very low. I think teaching could be that way just as much as acting or playing basketball - at least as ...
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8 votes
1 answer
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Lab experiments of labour markets

I have been searching for papers that conduct lab experiments simulating a labour market, that means for a minimum there are both participants taking the role of firms, and participants taking the ...
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Do Human Resources use information on applicants' child rearing effort as a signal

In Spence's Job Market Signaling paper (a non-paywalled version is available here) firms observe applicants' educational investment. From these signals the firms glean information on the "type&...
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5 votes
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Estimating Job Vacancy rate empirically

I'm currently reading up on matching models in terms of their ability to describe frictional unemployment, they generally follow a cobb-douglas form. $$M(u,v)=m=\mu u^\alpha v^{1-\alpha}$$ Where $M(...
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Consumption-Leisure Elasticity

The macro-literature insists on a consumption-leisure elasticity of 0 to match the balanced growth fact of constant labor supply. Is there any paper that tries to evaluate this elasticity using ...
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Solve the Ben-Porath Model (Optimal Control Problem)

Suppose we have a Ben-Porath style human capital investment model, in which the representative agent maximize her lifetime earnings: $$V(h, a)=\max \int_{a}^{R} e^{-r(t-a)}\left[ w h(t)(1-n(t))-px(t)\...
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Estimates of the global STEM workforce?

I am looking for any recent estimates of the global STEM workforce (STEM = Science Technology Engineering Mathematics, and ideally includes software engineers). Time series data would be even better, ...
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Difference between embodied and commanded labor in the Labor Theory of Value?

Could the difference between "labor embodied" (production cost in labor value) and "labor commanded" (selling price in labor value) as described in the labor theory of value be attributable to the ...
IHaveNoMovieAndIMustScream's user avatar
4 votes
1 answer
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Does brain drain really affect a nation's growth trajectory?

Take India as an example. India has been losing most of its bright minds to the west. India also ranks low in development. I would like to get a definitive answer to this cause-effect type question. ...
turdball2365's user avatar
4 votes
3 answers
641 views

Is the labor force participation rate related more to labour supply or to labour demand? Or both?

I have read several Labor Economics books, but I am stuck. Is the labor force participation rate related more to the labour supply or to the labour demand? If the labor force participation rate ...
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Is there a labor vs leisure model with work experience?

I find the labor-leisure model with utility functions interesting, but I find it lacks the factor of work experience, which is very important in the real life labor market. This is a reason people why ...
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Dispersion of housing prices in Hsieh And Moretti (2018)

I have been reading 'Housing Constraints and Spatial Misallocation', by Moretti and Hsieh, AEJ Macro 2018, https://www.aeaweb.org/articles?id=10.1257/mac.20170388 In their equation (7), they derive a ...
Student's user avatar
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How can there be a "lack" of workers? The Vanishing American Worker

I don't understand the current economic situation. The savings rate is at a long-time low. Something like 30% of Americans failed to pay mortgage or rent in June, inflation is signficantly increasing ...
Lassie Fair's user avatar
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3 votes
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Does only search-and-matching predict bunching around minimum wage?

I heard a comment that search and matching models are empirically more valid than job-posting (even though the predictions are very similar) because with posting it is not possible to rationalize the ...
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1 answer
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How to test if the effect of one regressor entirely comes from other regressors?

I have a regression model that includes IQ test scores as the dependent variable; my own education, my father's education and my mother's education as independent variables. Suppose I want to know ...
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Are there any net benefits in reducing/increasing tourist-oriented retail business?

Hong Kong is currently experiencing a slump in foreign tourist-oriented retail sales. Shops selling jewellery, watches, infant formula or Chinese medicine experienced a 25-35% decline YoY in August. ...
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3 votes
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Asymmetric Nash Bargaining

The Nash bargaining solution selects the unique solution to the maximization problem $\max_{s_1, s_2 } (s_1 - d_1) (s_2 - d_2)$ such that the solution satisfy the following axioms : Invariance ...
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References for estimating lifetime earnings lost due to caregiving (health economics)

I am working on a project on the productivity costs for caregivers of people with Disease X, a degenerative disease that affects mobility over time. I am looking for references, either scholarly ...
marquisdecarabas's user avatar
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129 views

Causes of upward trend in median first marriage age in USA?

I found a chart here of median age at first marriage by year from 1890 to 2010. It looks like it dips to a low during the 60s then has an upward trend until 2010. As an answer, I'm looking for any ...
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3 votes
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What models exist that explain which people emigrate to another country?

I'm looking for papers about this, or if there's a pretty standard model across many papers, then maybe just a rundown of the model. I'd like to use the model in an econometric analysis. For example, ...
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3 votes
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167 views

Job-finding rate in an urn-ball model with types

Setup Say you have two types of workers, high and low. The share of low-types among the unemployed population is $P$. I want to find the job-finding rate for these types. Matching Matching is ...
FooBar's user avatar
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2 votes
2 answers
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labor leisure model, quasilinear preferences

There is a quasilinear utility function $u= (1-t)wl - p(l)$, where $l$ is labor supply. I don't quite understand what happens, if the budget changes (due to $w$ or $t$) since it is quasilinear. Does ...
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How to derive (mathematically and intuitively) the relationship between expected price level and natural rate of employment?

We know that $ W = \mathbb{E}(P)f(u, z) $ , so that nominal wage $ W / P = (\mathbb{E}(P) / P)f(u, z) $ From Blanchard. Furthermore, $ W / P = 1/(1+m) $ (where m is defined as the markup on wages to ...
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2 votes
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What (and how) to control for in adjusted wage-gap regressions?

Background: The unconditional wage gap between some group and the rest is often estimated using a regression of the form $$ w_{it} = \alpha + g_{it}'\theta +\epsilon_{it} $$ where $w_{it}$ is log of ...
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2 votes
0 answers
108 views

Job Market Signaling w/Continuous Ability

I am currently trying to brush up on job signaling models for the upcoming semester, and came across this old exam question. There are no solutions to the question (that I am aware of), and I'm having ...
equanimity's user avatar
2 votes
0 answers
34 views

Insights from Labor Demand Research

A few years ago during my PhD, I remember listening to a provocative keynote talk at a conference by Francis Kramarz who criticized the progress in labor demand research. He summarizes his opinion in ...
Arne's user avatar
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Nash Bargain VS. Rubinstein Game with Outside Option

I am reading a paper, Kessier & Lulfesmann 2006, and find that its main result totally depends on that the model setting is based on a Rubinstein game with outside option rather than a Nash ...
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2 votes
0 answers
114 views

Event study by Kleven

I was reading the following paper by Henrik Kleven et al. https://www.henrikkleven.com/uploads/3/7/3/1/37310663/kleven-landais-sogaard_nber-w24219_jan2018.pdf The estimate the child penalty on wage ...
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Brücker et al. (2014) migrant labour supply shock

Brücker et al. (2014) write down a stylized model of wage-setting with a labour supply shock (migration), which I find hard to follow. Maybe somebody worked on it or is interested.. Labour force is ...
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2 votes
0 answers
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Marginal Cost of Labour Under Monopsony - is the real world like this?

How common is a Perfectly Discriminating Monopsonist in respect to labour rates? Or anything close to it? Standard explanations show a normal supply curve for labour, and the marginal cost of that ...
havlock's user avatar
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0 answers
37 views

Are there any estimates for what percentage of the jobs lost this spring are "permanent" at least for the rest of the year?

In a "view from the helicopter" video by The Economist on the aftereffects of Covid-19, one of the editors says that it's very unlikely we'll see a return to normal this year e.g. in the restaurant ...
got trolled too much this week's user avatar
2 votes
0 answers
27 views

Reason for SMEs in the European Union employing the bulk of people?

Is there any specific reason why SMEs in the European Union employ the vast majority of people in general as well as in certain industries? Are they exempt from certain regulatory burdens such as ...
Jacques Jonker's user avatar
2 votes
0 answers
76 views

Why are there no minimum wage entry level IT jobs

In the UK, I have not seen any graduate level IT jobs offering a starting salary below £20,000. At the same time, about 10% of computer science graduates are unemployed six months after graduation. ...
Angela Pretorius's user avatar
2 votes
0 answers
52 views

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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0 answers
63 views

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 ...
got trolled too much this week's user avatar
2 votes
0 answers
52 views

How many of the world's workers are producing luxury vs necessary goods?

Has there been any scholarship done on the proportion of producers producing high-end vs low-end goods? This could also be framed as the proportion of economic activity generated by wealth excess of a ...
eev's user avatar
  • 21
2 votes
0 answers
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Why is three weeks of increasing jobless claims significant?

I see stories like this one on occasion in my news feed. http://www.bloomberg.com/news/articles/2016-10-27/jobless-claims-in-u-s-decline-for-first-time-in-three-weeks Mainstream news outlets never ...
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0 answers
29 views

How to overcome measurement error in variable for immigration year?

I'm using the Current Population Survey and studying immigration. There's a variable: Year of Entry into the United States for the Foreign Born. The survey is administered to a representative sample ...
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2 votes
0 answers
46 views

Negative Interest Rates - Supply-Side Policy

(This is 3rd Part of a series questions under "Negative Interest Rates") Motivation: I've happen to stumble on two articles, with some weeks, that the central bank(CB) of switzerland, due to Russia ...
An old man in the sea.'s user avatar
2 votes
0 answers
62 views

Is America economy, Connecitcut's economy, and the global in general recovering and better than the year 2008?

Please answer all three if you can. I live in Connecticut, America, and of course global trade and economies matter as we are becoming more global from technology. December 2007 the markets ...
Bruno1993's user avatar
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2 votes
0 answers
154 views

How does Austrian Economics define Labour Productivity?

Is there a specific Austrian definition in accordance to the concept of Labour Productivity? If Labour Productivity is too broad of a term, then I will qualify to be speaking about it in context of ...
Anon's user avatar
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197 views

Hot Topics in Labor-Macro

I'm interested in currently hot research topics within Labor Macro. I'm only aware of the debate on the recent shift in the US Beveridge curve, and, of course, the olden but golden Shimer puzzle. ...
FooBar's user avatar
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2 votes
0 answers
54 views

Separation shock and business cycles

In the context of the Diamonds-Mortensen-Pissarides models, there was a reasoning why a separation shock cannot fit business cycles. I think it was brought forward by Shimer, but I could be wrong. ...
FooBar's user avatar
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2 votes
0 answers
31 views

Consumption of the unemployed

I am wondering how the consumption of the unemployed varies over the business cycle. We know that wages of people getting fired in busts are higher than wages of people in booms (Mueller 2012), so ...
FooBar's user avatar
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1 vote
0 answers
82 views

Aggregate Supply derived from Wage Setting and Price setting equations

In Blanchard's Macroeconomics textbook, Aggregate Supply relation is derived from wage setting and price setting equations as such: $P = (1+m) W = (1+m)P^e F(u,z)$, which implies that an increase in ...
festakonik's user avatar
1 vote
0 answers
32 views

Data on average annual hours worked by persons engaged

In Penn World Table 10.0 (source: https://www.rug.nl/ggdc/productivity/pwt/pwt-releases/pwt100), the avh (average annual hours worked by persons engaged) figures are missing for many countries. Where ...
farruhota's user avatar
  • 121
1 vote
0 answers
25 views

Help solve a problem about the leisure demand/labor supply mode. Halfway solved but fear my solution can't be right?

I've attached the question along with my current (incomplete) solution, but am unsure if my solution to part b makes sense given the question in part c. No substitution effect if demand for leisure is ...
Lily Rademacher's user avatar
1 vote
0 answers
11 views

Help solve a problem about the leisure demand/labor supply mode. Halfway solved but fear my solution can't be right?

I've attached the question along with my current (incomplete) solution, but am unsure if my solution to part b makes sense given the question in part c. No substitution effect if demand for leisure is ...
Lily Rademacher's user avatar
1 vote
0 answers
35 views

How to find hourly wage when data only provide range?

I am trying to separate observations into two groups, people who earn below (treatment group) and above (control group) the minimum wage to perform a difference-in-differences. The data I'm using have ...
asdf's user avatar
  • 23
1 vote
0 answers
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What is the mainstream economic response/interpretation of double burden, or the problem with unwaged reproductive labor?

I have recently done some readings into unwaged reproductive labor (the labor done in the household, primarily by women, which facilitates the household), and the arguments provided support the idea ...
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