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
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 ...
1
vote
1answer
344 views

Tax wedge in labour market

I'm reading a book ( Macroeconomics - Institutions, Instability and the Financial System ) and on page 62, the authors define tax wedge as the "difference between the real consumption wage and the ...
2
votes
1answer
110 views

Adam Smith: If humans are self-interested individuals, why should we reinvest our wealth?

According to Adam Smith, humans are self-interested individuals. If this is true, why does he argue that people should reinvest their wealth? How does this benefit a self-interested individual? Does ...
100
votes
16answers
18k views

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 ...
2
votes
1answer
163 views

General Equilibrium Modelling

I have a question regarding GE modelling. The firm's problem is to: $$ \max\pi=pf(k,l)-wl-rk $$ If this is true, we choose $l$ and $k$ to maximize the difference between costs and revenues. This ...
8
votes
4answers
212 views

Can absence of inflation be accounted for by a reconfigured class structure?

A previous and oft-heard question asked why no inflation results from the Fed pumping money into the economy. Are we simply seeing a methodical wage suppression, thus no official "inflation," while ...
5
votes
0answers
171 views

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 ...
1
vote
2answers
125 views

Finding an intercept on percentage based data and using dummy variables

How do I find an intercept on a percentage data? My data has percentage of grades ( I have converted to numbers where $A^*=8, A=7,B=6...U=0$) by ethnicity and other indicators which I want to test for ...
3
votes
2answers
78 views

Why is the Supply of Labour More Elastic in a Single Province/State then it is in the Country as a Whole?

Apparently, the federal government has a greater ability than provincial government to increase tax revenues by raising tax rates because the supply of labour is more elastic in a single province than ...
3
votes
1answer
72 views

Is it possible to reconstitute a labor theory of value?

I am not an economist, so highly technical answers may escape me. I know that since Jevons, Marshall, and the "marginal revolution" the classical labor theory of value has been largely abandoned. And ...
4
votes
0answers
28 views

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, ...
1
vote
0answers
38 views

Total costs as function of labor and quantity [closed]

If I have wage $w = 200$ and rental rate $r = 3050$ on short run, I can assume that $K=1$ and then get the total costs $TC = rK+wL = 3050 + 200L$. Isn't it correct? But what if I also have a cost of ...
1
vote
2answers
75 views

Proving or disproving hypothesis?

I took statistics class years ago in my college and I don't remember much of it now. I am into public policy research now and I am bit confused about about what conclusion to make from available ...
6
votes
1answer
2k views

Why is the percent of Australian businesses that don't have any employees so high?

I'm trying to understand this Australian Bureau of Statistics release: http://www.abs.gov.au/ausstats/abs@.nsf/mf/8165.0 It says: In June 2014, 61% of actively trading businesses in Australia had ...
1
vote
0answers
58 views

What is the cumulative amount of working hours for consumer products?

Is there any research about the cumulative amount of working hours for consumer products like cars or mobile phones? With cumulative amount of working hours I mean the total amount of working hours ...
4
votes
1answer
66 views

How reliable is BLS / JOLTS data on quits?

I'm looking at the Job Openings and Labor Turnover Survey (JOLTS). It also allows you to disentangle separations between layoffs and quits. The data comes from surveys, i.e. is self reported. There's ...
1
vote
1answer
92 views

Why consider non-farm payrolls?

Why does the US consider non-farm payrolls when looking at employment levels? What are the reasons for not including farms? Are the workers too transitive, does it not contribute in a certain way to ...
4
votes
0answers
4k views

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 ...
2
votes
1answer
33 views

Quarterly industry-level productivity growth?

Are there any quarterly data on industry-level productivity growth (i.e., by NAICS code) in the United States? I've looked around for a while but haven't been able to find anything. BLS publishes ...
8
votes
4answers
219 views

Can higher working hours reduce productivity?

Are there studies about the impact on per-hour output (productivity) of increasing the number of hours worked each week by employees? If every employee works 3hrs/week longer (from 41 to 44hrs), does ...
3
votes
1answer
70 views

CPS CEPR: ORG and Monthly

How does the CPS CEPR store employment information for the non-ORG months? I am trying to reproduce Mueller (2012). He says The CPS is the main labor force survey for the U.S., representative of ...
6
votes
1answer
237 views

Are there any studies that show that “Affirmative Action” hurts the economy?

Are there any studies that show that "Affirmative Action" (an action or policy favoring those who tend to suffer from discrimination, especially in relation to employment or education) hurts the ...
3
votes
1answer
76 views

How are working hours statistics computed?

In a recent conversation, I was suggested that national working hours aggregates, as provided by bureaus of statistics, are based on surveys on time use. Is that true? Can macro labor data, which is ...
4
votes
3answers
729 views

Why does adding a quadratic term to a regression change unrelated coefficients?

I'm in STATA and using 2010 data from Ipums. I'm trying to measure the wage differential between single men, married men, single women, and married women. I ran my first regression and got the ...
5
votes
1answer
194 views

What term/theory describes more efficient utilization of a resource?

I may be asking the wrong question here, but I wonder if there is a term/theory that describes/studies the evolution of an economy that continually improves the utilization and allocation of certain ...
4
votes
1answer
112 views

Empirical Data on Demand for Minimum-Wage Jobs in the USA

The idea of a minimum wage and its effects in terms of supply and demand are well-known in mainstream economic theory. I'm constructing an argument regarding the minimum wage, and what I'm curious ...
7
votes
3answers
790 views

Why did creating the Eurozone cause the cost of labor to rise in Greece?

As I understand the implementation of the Euro as a common currency caused labor prices to spike in certain countries, Greece being one of them. Why did this happen? Why did it affect certain ...
3
votes
1answer
101 views

Amplification Effects: Negative Denominator

Let $0 < \rho < 1$ be the discount rate, $V$ some option value, and $F$ some fundamental. $$ \rho V = \beta V + F$$ You have access to some option value $V$ that will always deliver you some ...
8
votes
4answers
1k views

Effect of minimum wage on higher levels of pay

Suppose the minimum wage increases to \$$x$. Is there any evidence on the effect (if any) this is likely to have upon the wage profile of workers higher in the hierarchy, who are already paid more ...
5
votes
1answer
86 views

Geographic mobility of workers within Germany, as compared to within the US?

Martin Feldstein (1997, p. 36) claims that workers within the US are more geographically mobile than say within Germany. I had known that US workers were mobile. But one sentence of his seems a bit ...
0
votes
1answer
147 views

Test: Part-time Workers Effect on Unemployment Rate

I want to test the causality of part-time workers on unemployment rate. Should i use part-time workers as a share of total employment or total labour force? If I run a regression of part-time workers ...
2
votes
1answer
98 views

RBC model and indivisible labour

First of all, I would like to apologise for the fact that I will include a link in my question rather than a direct question, however, I have no idea how to do it in a different way. I have been ...
2
votes
0answers
182 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. ...
4
votes
1answer
174 views

Generalized KPR: Frisch Elasticity

Consider the following version of KPR preferences (with $l$ being leisure): $$ U(c,l) = \left(\left(c\right)^\gamma l^\omega\right)^{1-\sigma}$$ I'm after the Frisch elasticity: $$ \frac{\partial(1-...
2
votes
2answers
212 views

King-Plosser-Rebello Preferences: Scale leisure

KPR preferences are given by $$ U(c, l) = \frac{\left(cv(l)\right)^{1-\sigma}-1}{1-\sigma}$$ with concave increasing $v$ and $c$, $l$ denoting consumption and leisure. In the limiting case of $\...
5
votes
2answers
135 views

Has Stack Overflow been economically beneficial to programmer productivity?

Has Stack Overflow an overall positive impact on programmers productivity? On one side, it takes time and effort to ask and answer questions -- thus decreasing productivity. On the other side, ...
6
votes
2answers
932 views

Why life expectance is growing faster than retirement age? - source needed

Need sources of information about "Why is life expectancy growing faster than retirement age?" Is there any literature about "why the increased quality of life and medicine in rich countries doesn’t ...
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 (...
5
votes
1answer
466 views

Instrumental variables for minimum wage

I was wondering if there is a classic instrument for minimum wage as there is for schooling or other variables. If so, how does it fares with respect to most established designs like spatial ...
3
votes
2answers
143 views

Does working abroad cause less unemployment however small?

The context of this question arises from people in third world countries going abroad to work. Often they are seen as money-hungry people who don't love their country (unless they are, say, physicists ...
1
vote
1answer
44 views

Reject worker after match

In the DMP family of labor models, we typically have $V$ denoting a vacancy and $J$ denoting the value of a job. $V$ typically becomes 0 through free entry. Say a firm get matched with a worker of ...
1
vote
1answer
316 views

DMP: Two Labor Markets

Consider the following extension of the standard DMP model, in which we have two labor markets with different returns, indexed $i$. The markets are completely separated and firms and workers can only ...
4
votes
1answer
120 views

Reasons for the recent rise in long-term unemployment

Kroft et al document the raise of long-term unemployed in the US during the recent crises. This is an impressive figure from their paper: They show that the raise does not come from compositional ...
3
votes
1answer
27 views

Data: Vacancies in the US before 2005

Shimer (2005) says These [separation shocks] introduce an almost perfectly positive correlation between unemployment and vacancies, an event that essentially never been observed in the United ...
2
votes
0answers
48 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. ...
2
votes
0answers
29 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 ...
0
votes
1answer
231 views

Unemployment: Human Capital Deterioration

I am looking for Macro-Labor models that include deterioration of human capital. The mechanism is simple: The longer you were unemployed, the more human capital you are losing. However, this is ...
21
votes
3answers
3k views

Why is collective bargaining by a group of employees not the same thing as price-fixing?

Employees sell their labor for wages. If a critical mass of employees get together and demand higher wages, how is this not the same thing as a critical mass of merchants illegally fixing the price of ...
3
votes
1answer
453 views

Wage regressions: Nominal versus real wage

I'm wondering do I need to convert nominal wages to real wages when running wage equations using panel data sets? My dependent variable is log of wage and I'm looking at returns to education across ...
5
votes
1answer
59 views

Is Firing Costly in the US?

I suppose that it doesn't cost most firms much to get rid of cheap labor, and that high wage workers typically have contracts that imply high compensations in case of firing. But what about the ...