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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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 the UK ...
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46 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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46 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 ...
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1answer
132 views

What effect does a wage ratio cap have on the efficency of allocation of labour?

Introduction Wage ratio caps prevent the wages of all employees from exceeding a maximum of a fixed multiple of the wages of the lowest paid employee in a given institution. Wage ratio caps can ...
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2answers
915 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 ...
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0answers
46 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 ...
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5answers
673 views

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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0answers
18 views

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 ...
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0answers
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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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0answers
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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41 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 ...
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58 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 ...
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2answers
136 views

If America's economy collapsed what would happen to all of the citizens? What if the whole global economy collapsed? [closed]

My journalism professor is not an expert in finance or economics but has studied history. She is always giving us a negative lecture on the America's economy and how the rich are taking al of the ...
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110 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 ...
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0answers
187 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. ...
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0answers
49 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. ...
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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 ...
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1answer
87 views

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. ...
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2answers
540 views

Are American poverty rates increasing? What about global poverty rates

http://www.npc.umich.edu/poverty/ https://www.census.gov/data/tables/time-series/demo/income-poverty/historical-poverty-people.html I have heard numerous times that the future has gotten better. ...
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2answers
138 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 ...
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2answers
40 views

Why labor-augmenting technological progress increases employment and wages?

My textbook says that advances in technology typically raise the marginal product of labor and shift the labor demand curve to the right and calls it labor-augmenting technological advances. The book ...
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1answer
37 views

Why does trade depress relative wages?

I've read that increased trade tends to decrease relative wages of labor. What is the intuition behind this? Lower wages in labor imply lower demand for workers, but doesn't trade just encourage ...
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1answer
2k views

Marx: Relative and equivalent-form. Difference?

I don't understand the difference between the two. For example: 2 Shoes = 3 wood Now Marx says that the first is the relative-form and the second is the equivalent-form. So the use-value expressed ...
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1answer
37 views

How is it traditionally defined the minimum wage legislation in economics?

How is it traditionally defined the minimum wage legislation in economics? And which countries does not have a minimum wage legislation as defined in these terms?
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1answer
77 views

Theoretical/Empirical Arguments for Migrant Workers in the US

Consider the events that are developing in the US with regards to labor-intensive manual work and migrant workers. If more and more migrant workers are banished from the work pool, it remains a highly ...
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2answers
79 views

Literature request: Any articles on the signalling theory / game theory / asymmetric information of the firms' recruiting process?

I'd like to read more about the recruiting process of firms. Signalling theory and game theory can be a useful tool to better understand this phenomena. For example: Applicants, who ask for higher ...
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1answer
141 views

Effect of changing Non Labor Income on Consumption-Leisure problem

Given a Utility function $U(c,l) = c - \frac{1}{2}l^2$ , where $c$ is the consumption and $l$ is the number of hours of labour. Let $L$ be the maximum amount of labor, so the amount of leisure is $L - ...
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3answers
162 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 ...
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1answer
319 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 ...
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2answers
27 views

Can you take the moving average of quarterly data of an explanatory variable in a regression to smoothen noise and get more accurate coefficients?

I'm trying to use acceleration of quarterly data on household debt (the difference in the difference in debt) in a regression on unemployment (only concerned with correlation) but quarterly data is ...
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1answer
65 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 ...
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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....
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2answers
36 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 ...
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2answers
99 views

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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1answer
72 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 ...
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1answer
112 views

In a context of globalisation and high wage inequality, why should governments help unskilled workers?

With globalisation, wage inequality continues to be a strong issue for many developed nations. What I seek to find out here is, why should we even do anything to help the unskilled workers? From ...
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1answer
77 views

Is the study of the volunteer sector inappropriate for a labour economist?

In the basics of labour economics the driving factor for increase in labour supply (for the workers in a given market) is increase in wages. The volunteer sector consists of general and skilled ...
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1answer
160 views

Division of labor vs division of work

Some authors makes the difference between these two terms. Could somebody explain what is the difference between division of labor and division of work?
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2answers
12k views

Finding labor supply function from equation of labor market [closed]

The supply side of the labour market is given by the following set of equations: Utility of worker is given by $$U = L^{\frac{1}{2}}C^{\frac{1}{2}}.$$ Real wage $w = 5$, T-Max = 40 hours, Investment ...
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1answer
79 views

RDD, wages, and day of birth

What I am doing: I use the regression discontinuity design (henceforth RDD) to study differences in wages received by people born at the end of the year and by those people born at the beginning of ...
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1answer
35 views

Under what BLS line do “people who want a job but haven’t searched in the last 12 months” show up?

I'm trying to understand how this CNN math was derived: This category — jobless people who “want a job now” but “did not search for work in the previous year” — has hovered around 3 million workers ...
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1answer
22 views

Why is the velocity of money in an economy affected by the frequency in which the worker is paid (like weekly, bi-weekly, monthly, etc.)?

I don't have any economics background, and was going though a course on Macroeconomics. I was solving the practice question here: https://mru.org/practice-questions/causes-inflation-practice-questions?...
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1answer
85 views

Job search theory in discrete time

Let us assume that there is a labor who lives in discrete time universe and discounts future payoffs with the discount factor $b\in (0,1)$. And we assume that this labor is at period $t=0$ at first. ...
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1answer
27 views

Breadwinners by class

I have a hypothesis that single-income families greatly increase as you get into the mid to upper middle class bracket. And that 2+ income sources are common in lower classes and also the extremely ...
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1answer
22 views

Value flow in economy - redefinition credit and money?

There are voices that there are already too much debt in the world (government, personal, government debt) and that can be the cause of the crisis. From the other hand the the only solution offered by ...
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1answer
115 views

Sign of income effect is ambiguous

When discussing the standard neoclassical model of labor supply, I have seen it is assumed that the sign of the income effect is ambiguous. Could anyone please explain this assumption, and more ...
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1answer
29 views

Name of phenomenon where migrant workers receive decent wage but absolutely no chance of getting any government benefits

Not sure if the title reflects the question very accurately but my question is specific to the Gulf countries which have a huge population of migrant workers, like Saudi and UAE. So, let's say Raj is ...
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1answer
50 views

How are you supposed to calculate overhead expenses?

I'm doing a college assignment (creating a software product) in Computer Science and have been given a template for the part of the report about economics. At one moment it states the following: <...
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1answer
24 views

Is it better for low-income people to live in the countryside where it's cheap or in the city where there are more services?

Supposing someone is struggling to pay the rent in an urban area, and they don't have anything tying them down to any one place, would it make sense to move to a rural area where the rent is much ...
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1answer
26 views

How exactly does removing labor​ market rigidities reduce structural unemployment and increase potential output in an economy?

Here I want to focus primarily on the potential benefits of labor market reforms such as a reduction in job security and trade union power and not their controversies. I wish to learn a few thoroughly ...

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