The Stack Overflow podcast is back! Listen to an interview with our new CEO.

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.

Filter by
Sorted by
Tagged with
0
votes
0answers
35 views

What would the production function look like if MPN (marginal product of labor) were constant, rising and declining?

I know this is a macroeconomic topic and I believe I understand the what the graph for the production function (with Y, Real GDP, and N, labor on the axis) would look like if the MPN were constant and ...
0
votes
1answer
49 views

Factor-augmenting technologies (Acemoglu and Restrepo 2018c)

In that paper, they consider the following production function: $Y = F(A_KK,A_LL)$. Where: K denotes capital, L is labor, and $A_K$ and $A_L$ denote capital-augmenting and labor-augmenting ...
1
vote
0answers
18 views

How is labor demand measured?

For instance, in the introduction of this paper (first paragraph), talking about Figure 1, they say that labor demand is measured as the real wage bill normalized by population. Is it common to ...
-1
votes
1answer
49 views

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 ...
0
votes
1answer
66 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. ...
0
votes
1answer
37 views

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)/...
4
votes
3answers
151 views

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. ...
3
votes
1answer
60 views

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 ...
1
vote
0answers
19 views

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 ...
7
votes
2answers
924 views

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 ...
0
votes
1answer
25 views

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 ...
1
vote
1answer
135 views

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 (...
0
votes
3answers
56 views

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 ...
2
votes
4answers
972 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 ...
1
vote
1answer
57 views

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 ...
4
votes
2answers
89 views

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 $...
2
votes
0answers
44 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 ...
4
votes
2answers
108 views

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 ...
4
votes
2answers
201 views

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 ...
0
votes
2answers
49 views

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 ...
2
votes
1answer
56 views

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-...
3
votes
2answers
160 views

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 ...
1
vote
0answers
55 views

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 ...
2
votes
0answers
43 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 ...
2
votes
1answer
140 views

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 ...
1
vote
1answer
18 views

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....
0
votes
1answer
43 views

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. ...
1
vote
1answer
71 views

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 ...
8
votes
5answers
498 views

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 ...
3
votes
2answers
47 views

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 ...
-1
votes
1answer
42 views

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?
4
votes
1answer
96 views

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 ...
1
vote
0answers
22 views

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, ...
1
vote
3answers
148 views

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 ...
0
votes
1answer
151 views

Expectation augmented Phillips Curve

Currently studying Intro to Macroeconomics, and faced Expectations augmented PC. In my textbook it is not clear how expected inflation affects unemployment. My view so far, is that expected inflation ...
0
votes
1answer
25 views

Does a fall in the wage rate always reduce hours worked?

In the Neoclassical Labor-Leisure model, does a fall in the wage rate always reduce hours worked? Or does it depend on whether the substitution or income effect dominates?
1
vote
1answer
120 views

Profit maximization question

Two firms are in a market together. They produce a product. Total revenue from sales is $y=K+L$ K is the amount of capital L is the amount of labor These two firms each specialized in supplying ...
5
votes
4answers
3k views

Labour Saving vs. Labour Augmenting - what is the difference?

It seems reasonable to say that technology generally increases output per unit of labour. Therefore in any factory which has installed new technology one can reasonably expect that for the same ...
2
votes
2answers
147 views

How did we arrive to 40 hr work week?

I am interested in a (reasonably) quantified explanation of why the work week in most of the world is 40 hrs and not for example 20? How did we arrive to the number 40. Another question is, and here ...
0
votes
1answer
105 views

How is it economically responsible to destroy proprty which has value? [closed]

precursor: bitcoin.stackexchange.com/q/1851 How can it be economically responsible to destroy property which has value? If a property is destroyed (which is the right of the property holder in most ...
1
vote
2answers
32 views

How to set a minimum wage

How does a country set an optimum minimum wage, i have went through loads of website but none of them give me a satisfied answer. For example, median of a country's income, percentage of GDP and such ...
4
votes
5answers
444 views

Have automation and technological advance been shown to have a positive impact on society and the economy or a negative one?

My friends and I, 2 of which are computer science majors think it is worse because is humans can't work and thus afford necessities, how will they survive? The definition of automation: the use of ...
2
votes
2answers
758 views

How to interpret Employment Elasticity in this text?

In this VoxEU text, «Promising ideas for future research on the employment effects of minimum wages », how do I interpret the elasticity of employment? I would think of it as percentual change in ...
0
votes
1answer
37 views

Incomes of different professions [duplicate]

Doctors average salary is around \$110,000 a year, whereas NBA stars salary may well cross \$5,000,000 a season. Why do sports players and television stars make more than doctors and politicians?
2
votes
1answer
85 views

Real Business Cycle Theory

Which academic paper does this diagram come from? Need to know for citation purposes. Apparently its King and Rebelo (2005) but doesn't seem to be the case.
-1
votes
1answer
24 views

Productivity issue

Could someone help with the following? Company produces products of daily demand. It employs workers In number of 12 people (HER) Wages of workers. The costs of hiring and firing are 25 per employee, ...
5
votes
1answer
221 views

The Shapiro-Stiglitz model. Why under full employment do unemployed workers find jobs instantly?

Under the Shapiro-Stiglitz model the No-Shirking Condition is: $$w=\bar{e}+\left( \rho +\frac{\bar{L}}{\bar{L}-NL}b \right)\frac{\bar{e}}{q}$$ Where: $\bar{e}=$ exerted effort by employees $\rho=$ ...
0
votes
1answer
34 views

Where/What should I search to find the big companies annual paid salary information?

I want to know how much salary paid by apple in 2017 to whole employees. Also the details of other payments of the company(How much they paid for raw materials for example). Also like to know these ...
0
votes
1answer
1k views

Why real wage equals marginal product of labor when return to scale is constant?

I can understand that real wage will equal MPL(marginal product of labor) when MPL is diminishing, because firms will employ more labor until MPL falls to real wage. While, if MPL is constant, ...
-7
votes
2answers
192 views

What is feminist economics?

Feminist economics? What kind of "field" is that? Just the existence of such a field seems ridiculous to me...