Segmented Labor Markets and Unemployment |
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aggregate employment alternatives analysis assume bargaining theories Centre for Economic ceteris paribus developing countries dichotomy between primary-sector disutility Economic Policy Research efficiency wage theory employment and unemployment employment creation employment decisions endogenous productivities endogenous tastes equilibrium level exogenous heterogeneities exogenously given expected primary-sector labor explanation of unemployment Figure firm's function Harris-Todaro model Harris-Todaro theory incentive to join increase in primary-sector job search join the secondary join the unemployment labor demand labor force labor market segmentation level of primary-sector level of unemployment marginal product market power market-clearing MARKETS AND UNEMPLOYMENT Microeconomics p-workers primary-sector employment primary-sector jobs primary-sector labor income primary-sector wage relative remain unemployed retention scenario return from secondary-sector rise in primary-sector searching for primary-sector secondary sector secondary-sector employment secondary-sector productivity secondary-sector workers segmented labor markets theory e.g. unemployed workers unemployment creation effect unemployment in segmented unemployment pool unprivileged workers utility differentials V₁[i wage setting workers choose workers differ