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
0answers
83 views

How can I model immigration and xenophobia economically using these equations?

I'm trying to put together a toy model for immigration ($I$), labor prices ($w$), and a measure of xenophobic/nationalistic sentiment ($A$). What I've come up with so far is the following: $$\frac{dI}...
1
vote
0answers
49 views

Can the Goodwin Model of cyclical labor growth be applied in a micro context to specific industries?

I have been doing a bit of research into the Goodwin Model (1967), which generates cycles of economic activity. I understand that this is mostly used in macroeconomics. However, I am curious if this ...
1
vote
0answers
33 views

Formal terminology for positive and negative correlation between ability of workers for different jobs?

Say there are two occupations - A and B, and plenty of workers. Let's pick occupation A, and order workers from lowest to highest ability/productivity. Which is the formal term to describe the ...
1
vote
0answers
53 views

Identify absolute ability from a wage equation

Consider a simple model where the wage of a worker $i$ in period $t$ is: $$w_{it} = \theta_{t} a_{i}$$ where $\theta_{t}$ is the wage rate or efficiency wage per unit of ability, and $a_{i}$ is the ...
1
vote
0answers
22 views

Decentralization of business due to internet/mass communication, or mere bosses-at-a-distance?

Excuse my question if it sounds brutish and uneducated but I'm curious about the recent trend of businesses like Uber, Google Play Store, Apple Store, possibly even Craigslist (et al) which are more ...
1
vote
0answers
1k views

What evidence is there that Adam Smith made mistakes in criticizing Mercantilism and upholding capitalism?

This commentator writes: On March 9, 1776, "An Inquiry into the Nature and Causes of the Wealth of Nations" (commonly referred to as simply "The Wealth of Nations") was published. Smith, a Scottish ...
1
vote
0answers
923 views

What does the elasticity of substitution between capital and labour mean?

For example, if i have elasticity of substitution equal to 5 and 0.6 what does it imply about the capital to labor ratio? When it is 5 does it imply that it is easier to replace labor with capital. As ...
1
vote
1answer
378 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 ...
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
80 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 ...
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 ...
1
vote
1answer
93 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 ...
1
vote
1answer
132 views

Why are Americans at the top of nearly every field?

I live in India, and having spent several years in America before returning, I noticed that Americans dominate in nearly every sphere of human activity. For example, the US seems to be blessed with ...
0
votes
1answer
30 views

What is the probability of an unemployed worker receiving no job offer during a time period?

we are currently covering one sided search models and I had a question for you all. I kind of understand the raw calculus behind finding the probability of a job offer over a time interval h, but what ...
0
votes
2answers
48 views

Dataset on university enrollment?

I'm looking for a dataset with stats on tertiary education enrollment in the US, per state, at least a couple decades back. I've searched but cannot seem to find anything. Could someone help me out?
0
votes
2answers
237 views

The relationship between profit and wages

It seems obvious that an individual company increases their profits when they reduce wages or increase automation or some such. But if wages fell universally because of this, wouldn't that decrease ...
0
votes
1answer
144 views

Could a “Japanese-style strike” work as it's supposed to? Under what conditions?

This is an urban legend, mostly believed in Spain and some countries in South America. The legend is based on the premise that their way to make a strike would be to work much more than usual in some ...
0
votes
2answers
54 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 ...
0
votes
1answer
182 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
2k 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, ...
0
votes
1answer
150 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 ...
0
votes
1answer
235 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 ...
0
votes
1answer
18 views

How do I adjust for heterogeneous labor markets when calculating the wage premium?

I have a dataset with mean and median wages for particular geographic areas around the United States. I am interested in calculating the wage premium between some areas. I can already do a simple ...
0
votes
1answer
27 views

Has there been an applications of search and matching theory in the Neoclassical Growth Model?

Specifically, I am looking for the standard neoclassical growth model, but the labour decision is based on either search or matching theory instead of a Walrasian labour mechanism.
0
votes
1answer
479 views

Maximization problem FOC and Euler equation

Can someone please help me with the Lagragian and the derivation of the following objective function ? Beneath I provide the objective function, the constraint and the Euler equation that results from ...
0
votes
1answer
38 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)/...
0
votes
1answer
34 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 ...
0
votes
1answer
46 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. ...
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?
0
votes
1answer
106 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 ...
0
votes
1answer
68 views

Would an $8 National Minimum Wage Work in the US?

For those who advocate a \$15 minimum wage, would the benefits espoused also come from an \$8 minimum? The reason I ask, is that it’s often said that the minimum wage needs to be updated as it was ...
0
votes
1answer
35 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
61 views

Understanding the effects of government deficit on international trade

Understand that I'm a total novice with regard to economics. Also, while I ultimately have an axe to grind (doesn't everyone?) I'm not trying to do that honing here, I'm simply looking for a sanity ...
0
votes
2answers
838 views

Why are vacancy rate and unemployment rate negatively correlated?

Why is this the case? Since Vacancy rate is defined as following, let $A,Q,U$ denote number of vacancies in the economy, labor force, unemployed respectively. $$\frac{A}{A+Q-U}$$ Here we can see ...
0
votes
2answers
11k views

Why does the real wage = W/P?

Im reading about labour markets, and the notes mention that the real wage 'w' = W/P, where W = the nominal wage, and P = the price level. Could someone please use some 'W' and 'P' as an example to ...
0
votes
1answer
62 views

Microeconomics: Question on Market for Factors

I am stuck and confused by a section of what I read in my textbook, could you please help me understand the paragraph? If you only vary one means of production and the market for it is competitive ...
0
votes
1answer
753 views

Is America getting to a point where there are many more people than jobs or money to go around? Are times better or worse than 50 years ago? [closed]

Is America headed to a point of too many people, not enough work? Is life for an average American better than 50 years ago? I have asked about automation in my first question. Then I've asked a ...
0
votes
0answers
17 views

Programs for Heterodox Economics [closed]

I tried asking this in Academia but the thread was closed with a vague and confusing explanation. I’m towards the end of my econ bachelor’s at UCSC and I’m getting ready to apply for grad school. I’m ...
0
votes
0answers
54 views

Marginal rate of substitution interpretation

I am trying to interpret the marginal rate of substitution stidied in an article. The article in question is Burbidge, J. B., Robb, A. L., 1980. Pensions and retirement behaviour. The Canadian Journal ...
0
votes
1answer
68 views

Economics perspective of connected workers

According to the Deloitte report published here, a connected worker is defined as someone whose working life is changing due to digital and other technologies. This is due to advancement of ...
0
votes
0answers
33 views

Empirical Bayes Estimation

I would be greatful if You can give some advise regarding the following problems: As I reviewed some empirical papers, I learnt that most of them using relatively small number of observations for ...
0
votes
0answers
15 views

Does the income from a product or art count as passive income?

When a writer publishes his book, can we classify the income from the book as passive? Or another example, when a musician publishes his album, does the album generates passive income, making any form ...
0
votes
0answers
18 views

When do we have diminishing marginal returns to labor?

When we have a production function exhibiting constant returns to scale, with only labor and technology, why don't we have any diminishing marginal returns to labor?
0
votes
0answers
18 views

Taxes on Family leave pay

I don't know if this is the correct forum for this question, but do we have to pay taxes on checks from the government that were paid from taxes in the first place. For example, like Social security ...
0
votes
0answers
22 views

If the payroll tax were eliminated on incomes below $30000 what would happen?

If you canceled all payroll taxes below $30000 / $60000 single / married what would happen? I know that this could increase firm profits, or increase wages, or the number of jobs, or decrease prices ...
0
votes
0answers
25 views

According to human capital theory, in which country will citizens be more likely to go to college?

Assume that in country A college tuition is 10,000 per year, citizens save 5% of their income for retirement, and there is a mandatory retirement age of 60 years old. In country B, the tuition for ...
0
votes
1answer
53 views

Why would overemployment mean that labor is used inefficiently?

If labor is being used efficiently, there is no excess unemployment or over employment. This phrase from Khan Academy struck me as quite strange. Why on Earth would over employment mean that labor ...
0
votes
0answers
43 views

What is the economic interpretation of the solution of this optimal control problem?

I have the following optimal control problem $$\max_{c_t} \int^{\infty}_0 e^{-p_it}\ln(c_t(i))dt$$ subject to $$\dot{w_t}(i)=rw_t(i) -n_ic_t(i)$$ $$w_0(i)=w_0>0$$ I have some wealthy and ...
0
votes
0answers
40 views

income effect and substitution effect

Question:Assume no non-labor income, Alice's labor supply function is $h(w) =\frac{w}{16}$. Her preferences are given by $u(c, l) =\sqrt{c}+3l$. When the wage rate increases, Alice's labor supply ...
0
votes
1answer
46 views

extensive vs intensive labor in US in recent decades

Total Hours worked is a mix of extensive (to work or not, the usual standard working week) and intensive (how many hours to work). I'm interested in how this balance of extensive and intensive ...

1
3 4 5
6
7