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Labor Demand and the Source of Adjustment Costs

Hamermesh, Daniel S. - 2021

Most models of dynamic labor demand are written in terms of costs of adjusting employment (net adjustment costs). A few are based on the costs of hiring and firing (gross adjustment costs). This study derives several models containing both types of adjustment costs. A dynamic-programming model...

Persistent link: https://www.econbiz.de/10013220802

Labor Demand and the Structure of Adjustment Costs

Hamermesh, Daniel S. - 2010

This study examines the nature of the costs that firms face in adjusting labor demand in response to shocks induced by changes in output demand and prices. Empirical work on monthly plant-level time-series data shows that adjustment proceeds in jumps. Employment is unchanged in response to small...

Persistent link: https://www.econbiz.de/10013141117

Partial Adjustment Without Apology

King, Robert G. - 2012

Many kinds of economic behavior appear to be governed by discrete and occasional individual choices. Despite this, econometric partial adjustment models perform relatively well at the aggregate level. Analyzing the classic employment adjustment problem, we show how discrete and occasional...

Persistent link: https://www.econbiz.de/10013115532

Dynamics of Labor Demand : Evidence from Plant-Level Observations and Aggregate Implications

Cooper, Russell W.; Haltiwanger, John C.; Willis, … - 2021

This paper studies the dynamics of labor demand at the plant and aggregate levels. The correlation of hours and employment growth is negative at the plant level and positive in aggregate time series. Further, hours and employment growth are about equally volatile at the plant level while hours...

Persistent link: https://www.econbiz.de/10013246389

Firms and the Economics of Skilled Immigration

Kerr, Sari Pekkala - 2014

to date in understanding the impact of high skilled immigration from the perspective of the firm and the open areas that … call for more research. Since much of the U.S. immigration process for skilled workers rests in the hands of employer firms …

Persistent link: https://www.econbiz.de/10013054873

The Labor Demand Curve is Downward Sloping : Reexamining the Impact of Immigration on the Labor Market

Borjas, George J. - 2021

Immigration is not evenly balanced across groups of workers that have the same education but differ in their work … market impact of immigration by exploiting this variation in supply shifts across education-experience groups. I assume that … substitutes. The analysis indicates that immigration lowers the wage of competing workers: a 10 percent increase in supply reduces …

Persistent link: https://www.econbiz.de/10013245085

The Analytics of the Wage Effect of Immigration

Borjas, George J. - 2021

The theory of factor demand has important implications for the study of the impact of immigration on wages. This paper … theory can be used to check the plausibility of the many contradictory claims that appear throughout the immigration …

Persistent link: https://www.econbiz.de/10013312501

How Exporters Grow

Fitzgerald, Doireann; Haller, Stefanie; Yedid‐Levi, Yaniv - 2021

We show that in successful episodes of export market entry, there are statistically and economically significant post-entry dynamics of quantities, but no post-entry dynamics of markups. This suggests that shifts in demand play an important role in successful entry, but that firms do not use...

Persistent link: https://www.econbiz.de/10013224339

Microeconomic Flexibility in Latin America

Caballero, Ricardo J.; Engel, Eduardo; Micco, Alejandro - 2021

We characterize the degree of microeconomic inflexibility in several Latin American economies and find that Brazil, Chile and Colombia are more flexible than Mexico and Venezuela. The difference in flexibility among these economies is mainly explained by the behavior of large establishments,...

Persistent link: https://www.econbiz.de/10013225851

Effective Labor Regulation and Microeconomic Flexibility

Caballero, Ricardo J.; Engel, Eduardo; Cowan, Kevin; … - 2021

Microeconomic flexibility, by facilitating the process of creative-destruction, is at the core of economic growth in modern market economies. The main reason for why this process is not infinitely fast, is the presence of adjustment costs, some of them technological, other institutional. Chief...

Persistent link: https://www.econbiz.de/10013228761