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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29
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3answers
5k views

What has caused the recent 25% unemployment rate in Spain?

The unemployment rate in Spain has recently been fluctuating around 25%. What has caused this?
8
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1answer
176 views

Does Craigslist Reduce Unemployment?

If a substantial (though admittedly I have no idea how large) part of the natural rate of unemployment is caused by the job search, do more efficient means of communication create more efficient labor ...
2
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1answer
26 views

Guvenen et al: Earnings

Guvenen et al look at earnings shocks over time, and try to argue whether these are compatible with standard career-ladder models with normal shocks. However, their data is no real shocks, it is time ...
2
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1answer
61 views

Extensive Labor Margin and Full Insurance

Extensive margin models use Rogerson (1988) style lotteries in order to simplify the savings problem under non-full-insurance. However, one could still write down the model in that style but instead ...
7
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6answers
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Graduate Level Textbook on Labor Economics and Macro-Labor

What would be good textbooks at the graduate level that deal with Labor Economics and Labor-Macro (As in, Equilibrium Unemployment Theory, Shimer Puzzle etc)?
6
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1answer
74 views

Distribution of Wages

Is there any paper that looks at the distribution of wages? I'd like to see how many workers are in each percentile of labor income. I know that you could compute it using CPS or US tax data, but I ...
5
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2answers
183 views

Stimulus Effect of the Minimum Wage

In the question about the minimum wage found here, I have heard several times that an increase in the minimum wage can, as one of several competing effects, "boost the economy" by increasing the ...
5
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1answer
157 views

Employment Volatility and the Relevance of Aggregate Wage Rigidity

The Mortensen-Pissarides (MP) framework of search labor is the thing in analyzing (equilibrium) unemployment over the business cycle. Shimer showed that the lack of hires is the big margin that ...
11
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3answers
2k views

Under what conditions is a monopoly undesirable?

First of all, I realize that "undesirable" is an ambiguous term. So, to clarify, when is a monopoly undesirable under the following metrics? Pareto efficiency Reduces consumer surplus Social Welfare (...
8
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2answers
176 views

Whatever happened to efficiency wage theories?

Older macroeconomics texts give much space to efficiency wage explanations of how unemployment could coexist with wages in equilibrium higher than the reservation wage of workers. However, there ...
6
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2answers
370 views

Unemployment and the Frisch-Elasticity

There is the long debate on the Frisch-Elasticity being the driver of unemployment over the business cycle. One argument against the voluntary-unemployment mechanism of RBC models is that if we ...
22
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6answers
5k views

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 ...
17
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5answers
2k views

Unemployment and the Minimum Wage---what are the main counter-arguments to Card and Krueger?

Card and Krueger's paper (AER 1994, "Minimum Wages and Employment: A Case Study of the Fast-Food Industry in New Jersey and Pennsylvania") uses a difference-in-difference identification strategy to ...

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