3

Conventional economics research is not very kind to the idea of job guarantee (see discussion in highly cited works of Palley, 2001; Sawyer, 2003 and Seccarecia 2004). In general most of the profession agrees that job guarantee program (i.e. program where government is some sort of employer of last resort/provides employment) is generally not efficient ...


3

Yes it does. In fact large portion of current US unemployment can be attributed to the pandemic. According to U.S. Bureau of Labor Statistics (BLS): Of the 18.1 million people unemployed in June, 11.4 million (63 percent) were unable to work because their employer closed or lost business due to the pandemic. Among the unemployed, the vast majority of those ...


2

Unless I misunderstand the question these seem to be complementing events with probabilities $p$ and $1-p$.


2

The economy is not a zero sum game with a fixed number of jobs available. If it were, then restricting immigration or at least the access immigrants have to jobs would unambiguously benefit domestic workers. However, H1B immigrants, in particular, are frequently skilled workers that increase the productivity of the companies they work for, creating ...


2

Quarterly GDP seasonally adjusted source: https://aneconomicsense.org/category/econ-data/gdp-productivity/ AnEconomicSense.org by Frank Lysy Monthly unemployment rate seasonally adjusted Source: https://www.researchgate.net/figure/Seasonal-adjustment-of-US-unemployment-using-the-defaults-of-seasonal-The-result-is_fig2_329822239 by Christoph Sax and ...


2

I am not sure if this is exactly what you are looking for, but this paper has model that sounds like what you want: Shimer, Robert, 2006. “On-the-job search and strategic bargaining, ”European EconomicReview50, 811—830. Have a look at this one too: Shimer, R. (2007). Mismatch. American Economic Review, 97(4), 1074-1101.


1

On the last inference of the first graph, the unemployment rate is at 6.7%. This means that out of the 164.6 million Americans that the labor force is comprised, 11.2 million are unemployed as of November 2020 (data: Bureau of Labor Statistics2). This graph and the graph to its right, both indicate that people are beginning to get employed at a dropping rate....


1

This technology would be implemented on a large scale regardless of any countries law mandating it's use. Firms would save a lot of resources if they could get rid of eggs at the 4-20 day mark rather than the 22-25 day mark as this is when they start consuming food. As per unemployment it seems these numbers wont be large. A back of the envelope calculation ...


1

To get things started: The reservation wage is the wage that makes the worker indifferent between taking a job and getting V_e and not taking a job and getting V_u. To find it, solve for the value of w that makes V_e = V_u. Solving the entire model is not possible given the info you provided. You need the block that describes the firms. My sense is that it ...


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

I agree that the current crisis will not “break” the unemployment insurance system. The most that will happen is payments will stop being issued to those who qualify. History of unemployment insurance (UI) program Created in 1935, the federal-state unemployment insurance (UI) program temporarily replaces a portion of wages for workers who have been laid ...


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