Labor demand and equilibrium wage formation
The new economics of labor demand and personnel is presented in this collection of 14 original essays. The main purpose of the volume is to bridge the existing knowledge application gap. Particular attention is paid to nonlinear labor demand dynamics and equilibrium models for job flows, search, and wage growth. At the end of each paper a comment by an expert reviewer is provided.
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adjustment costs aggregate shock alternative wage assume assumption average behaviour Beveridge curve Burgess Business Cycle changes Coef coefficients component conditional match probability curve cyclical depend differenced dummies dynamics econometric effect efficient contract empirical employed employers employment determination employment protection legislation enterprise Equilibrium Wage estimates Euler equation expected experience external salary firing costs firm's firms G.A. Pfann given hiring and firing ij(t implies increase indifference curve individuals industry INSEE instrumental variables job creation job destruction job level job match job offer job seekers kinked labor demand Labor Economics labor market asymmetry lags layoff linear log real manufacturing Nash equilibrium negative Netherlands Nickell non-linear optimal panel data paper parameters primary sector productivity punishment period quadratic quasi-rent quit rate regime reservation wage Ridder sample Science Publishers B.V. specification St.E stochastic structure Table tenure theoretical unemployed workers union vacancies variables wage function wage growth wage rate zero