# Tag Info

10

No, this should not be a major issue. We will very carefully take into account the different sample sizes. Allow me to continue your example: Assume "Resume A" is the the treatment resume and "Resume B" is the control resume, where the treatment has a less advantaged ethnic name (Jamal, Beyonce) and the control resume contains a ...

9

Necessary Caveats When Discussing Slavery: First before tackling this question it is important to note that this issue is broad and complex. This is because there is no single 'slavery'. For example, slavery under the Roman Empire was not the same as slavery practiced in US south (see Tamin; 2017). Furthermore, even within a given society there might be ...

8

They generally measure the probability of getting an interview, not the number of interviews, so that that the number of applications is normalized out. For example, consider Are Emily and Greg More Employable Than Lakisha and Jamal? A Field Experiment on Labor Market Discrimination (AER 2004 with ~5000 citations). We study race in the labor market by ...

4

So this is a very broad topic. There are arguments pro and against minimum wages and there are many variables to consider. As for your question, arguments 1-3 are basically argument 1. A higher minimum wage can limit employment / increase unemployment among people whose hourly value of labor to the employer is less than the minimum wage. As a result, those ...

3

The following is from Thomas Piketty and Gabriel Zucman (2015, From Handbook of Income Distribution, Volume 2, Chapter 15, Part 15.5.3 which is hard to link to directly but get it here): Take a CES production function $$Y=F(K,L)=(a⋅K^{\frac{\sigma-1}{\sigma}}+(1−a)⋅L^{\frac{\sigma-1}{\sigma}})^{\frac{\sigma}{1-\sigma}}$$ Me: $\sigma$ is the elasticity of ...

3

There are different notions of neutrality of technical progress in macroeocnomics. You can have Hicks-neutral technical progress - that is a technical progress that increases the marginal productivity of all factors of production by the same proportion at the same capital-labor ratio. An example of Hicks-neutral production function would be one where $Y^*= ... 3 For the googling part of your question: In the context of US labor politics, "right-to-work laws" refers to state laws that prohibit union security agreements between companies and labor unions. Under these laws, employees in unionized workplaces are banned from negotiating contracts which require all members who benefit from the union contract to ... 3 The exponents do not cancel each other out. E.g., $$(a^2+b^2)^{1/2} \neq a + b$$ because $$(a^2+b^2)^{1/2} \neq (a^2 + 2ab + b^2)^{1/2}.$$ 3 My understanding is that Piketty uses the term "P90/P10" only to measure wage inequality and the term "C90/C10" for wages plus social charges. The underlying distributions are different, but they both measure the ratio of the 90th percentile to the 10th percentile. 3 Your assumption is correct. Value added is Gross Output-intermediate consumption(inputs). value-added approach is a simple measure that ignores the difficulties of dealing with inter-industry and intra-industry flows of goods and services. Intermediate inputs are simply excluded here. The value-added approach provides a simple link of industry-level MFP ... 3 A priori this is difficult to say without any empirical experiment but it is unlikely due to: Price floors do not necessarily lead to more competition on quality. Theoretical models do show that price floors can (depending on parameters) lead to an increase in quality (Bilotkach, 2012 and sources cited therein), but they can also just result in intensifying ... 2 The value is subjective. If the buyer values the shoes at 10 yuan and the seller values 10 yuan at 10 yuan then from economic perspective equal amount of value was exchanged (i.e 10 value of yuan embedded in paper notes for 10 value of yuan embedded in shoes) regardless of what were the costs of production costs. Also money just serves to solve double ... 2 Good question! Here Acemoglu and Restrepo discuss one of the many possible effects of automation, such that automation is likely to induce additional usage of capital in the sector or additional capital accumulation, which can increase labor demand. They elaborate on this effect on their 2018 AER paper "The Race between Man and Machine: Implications of ... 2 I found this excellent Economic Letter from the Federal Reserve Bank of San Francisco that speaks to this observation. It is from Carl R. Walsh (july 16,2004) (https://www.frbsf.org/economic-research/publications/economic-letter/2004/july/the-productivity-and-jobs-connection-the-long-and-the-short-run-of-it/ ) In this letter he notes that, newspaper ... 2 Yes. In 2018, the German YouTuber Jörg Sprave established YouTubers Union (see also FairTube). In 2019, it entered into a partnership with IG Metall: IG Metall press release, news stories by Observer, Bloomberg, CNBC. 2 According to Samuelson (1971) the transformation problem is to find some general formula by which transform the value of labor into market prices. This is not strictly speaking marxian problem as it already features in the classical works, especially Ricardo wrestled with this problem a lot, since labor theory of value is a classical theory but became ... 2 Unless I misunderstand the question these seem to be complementing events with probabilities$p$and$1-p$. 1 Since the authors state that the total labor input is: $$\int t_i(k)dk$$ the meaning of the total labor input in this case would be that it is the sum of all attention$t_i$allocated over those tasks$k$. For example if we would assume that$t_i (k) = k$then the labor supply across continuum given by$[0,1]$would be equal to$\frac{1}{2}$because$\int k ...

1

The brain drain is a difficult issue facing many countries around the world. Simply, they need something to come back to. Laborers generally leave countries because there is insufficient economic activity for them domestically. If a country wants to retain workers, they need to build up educational infrastructure, encourage foreign direct investment, and ...

1

Take a look at 120 years of higher education. Table 25 (in my edition) has state enrollments going back to 1869.

1

The National Center for Education Statistics , Digest of Education Statistics does have post-secondary education (university and community college) enrollment in the US per state from 1995 to 2017. There are some tables that has the data going back to 1970 but it skips some years so you may want to perform a some sort of missing data imputation method (i.e. ...

1

(The second equation for the value function of the unemployed should be $$v(w,U)= \max \{v(w,E); \,u[c,1]+\beta\int v(w', U) dF(w')\}. \quad (*)$$ ) ...how do you know when your problem solution require more than one Bellman equation? Whenever the state space of the problem contains discrete coordinates, there would be "multiple" value ...

1

One of the simplest specification I can think of (and for which the first order condition can be solved analytically in $L$) is: $$y=\left\{ \begin{array}{ccc} L^{\alpha} & & L\leq L_{e} \\ L_{e}^{\alpha}+g\left( L-L_{e}\right) & & L>L_{e}% \end{array}% \right.$$ with $g\left( L-L_{e}\right) =(L-L_{e})^\beta$ and $\alpha\geq1$ and ...

1

I'm not sure but it seems to me that the logistic function $\frac{e^{x}}{1+e^{x}}$ could serve your purpose. You may need to scale it as its output falls between 0 and 1, but it does have an analytical derivative that you can then use to solve for the labour demand function.

1

Let's distinguish exogeneous from endogenous factors, distinguish partial versus general equilibrium analysis, consider here the labor market of one product, i.e., a partial analysis, consider that this labor market is perfectly competitive. In your reasoning, the decrease in labor supply, which typically leads to an increase in the wage rate, would come ...

1

The logic you presented is known as technological unemployment. It is true that due to technological improvements, you would need less people to do the same amount of work. But along with technological progress, you would need more highly skilled workers to operate these high-tech machinery. What Mankiw meant (at least according to me) is that the demand ...

1

That's reported in A-38 under "not in the labor force" but "want a job" and "did not search for work in the previous year". The line/figure doesn't have a U-style indicator.

1

This is because by definition velocity of money is basically how quickly people spend money they get. Hence any factor that causes people to hold money holder decreases velocity of money and vice versa. The frequency people get pay might affect how quickly they spend money. For example, if you are paid quarterly basis you will probably be more conservative ...

1

$W(4) = \max\left\{4+bW(4),\frac{1}{2}\left(4 - k + bW(4)\right) + \frac{1}{2}\left(16 - k + bW(16)\right)\right\}$ $W(16) = \max\left\{16+bW(16),\frac{1}{2}\left(4 - k + bW(4)\right) + \frac{1}{2}\left(16 - k + bW(16)\right)\right\} = 16+bW(16)$ First solve for $W(16)$ to get $W(16) = \frac{16}{1-b}$. Then substitute it in $W(4)$ to solve for $W(4)$ as a ...

1

The Industrial Revolution was an important watershed in women’s work in that it shifted the location of work out of the home. Because of the importance of machines powered by water wheels or steam engines, textiles began to be produced in factories rather than in workers’ homes. This change in the location of work made it more difficult for women to combine ...

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