Kudlyak, Marianna (1978; Bils, Mark J.
The dissertation is concerned with an empirical investigation of the cyclicality of the price of labor. If the labor … market is a spot market, then the price of labor is the wage. But adding a worker is a long-term investment. The price of … wage payments. The price of labor, and not wage, is allocational for employment. The first chapter of the dissertation is …