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Several reasons are offered why workers will receive larger compensating wage differentials for increases in the duration of wage losses than for increases in the probability of loss that produce the same expected loss. A formal model of occupational choice is developed that shows the extent to...
Persistent link: https://www.econbiz.de/10013244902
Two striking facts describe work timing in the United States: a lower propensity to work evenings and nights in large metropolitan areas, and a secular decline in such work since 1973. One explanation is higher and possibly increasing crime in large areas. I link Current Population Survey data...
Persistent link: https://www.econbiz.de/10012472198
The paper demonstrates the general difficulty of inferring the structure of adjustment costs from aggregated, including industry data, except in the unlikely case that costs are symmetric and quadratic at the micro level. The implications of this difficulty for cross-national comparisons of...
Persistent link: https://www.econbiz.de/10012474924
This study reviews empirical research on the demand for labor. The static analysis discusses the production parameters describing homogeneous labor and labor disaggregated along various criteria; the distinction between workers and hours; the importance of job dynamics; and the nature of a...
Persistent link: https://www.econbiz.de/10012475097
This study examines what one can infer from aggregate time-series of employment under the assumption that adjustment at the micro level is discrete because of lumpy adjustment costs. The research uses various sets of quarterly and monthly data for the United States and imposes assumptions about...
Persistent link: https://www.econbiz.de/10012475808
Major strands of recent macroeconomic theory hinge on the relation of workers' efforts to their wages, but there has been no direct general evidence on this relation. This study uses data from household surveys for 1975 and 1981 that include detailed time diaries to examine how changes in the...
Persistent link: https://www.econbiz.de/10012476258
There has been a wide variety of research on worker-hours substitution and the effects of various costs on the speed and extent to which labor demand adjusts. Much of this literature, though, confuses various types of fixed costs and fails to provide a guide for identifying how changes in...
Persistent link: https://www.econbiz.de/10012477013
This study postulates an internal labor market in which workers accumulate firm-specific human capital that raises the value of the firm and insulates it to some extent from the vagaries of product demand that might result in its closing. Negative product-market shocks reduce wage growth and...
Persistent link: https://www.econbiz.de/10012477237