Showing 1 - 10 of 1,077
In this paper I explore optimal employment contract design in a random search framework, where workers search on and off the job for employment opportunities similar to that of Lentz (2010) and Bagger and Lentz (2013). The worker determines the frequency by which employment opportunities arrive...
Persistent link: https://www.econbiz.de/10010796538
This paper introduces a labor force participation choice into a labor market matching model embedded in a dynamic stochastic general equilibrium set-up with production and savings. The participation choice is modelled as a tradeoff between forgoing the expected benefits of being search active...
Persistent link: https://www.econbiz.de/10005084940
We document a large increase in the cyclicality of the incomes of high-income households, coinciding with the rise in their share of aggregate income. In the U.S., since top income shares began to rise rapidly in the early 1980s, incomes of those in the top 1 percent of the income distribution...
Persistent link: https://www.econbiz.de/10008756449
This paper studies the cyclical nature of individual income risk using a confidential dataset from the U.S. Social Security Administration, which contains (uncapped) earnings histories for millions of individuals. The base sample is a nationally representative panel containing 10 percent of all...
Persistent link: https://www.econbiz.de/10011271386
This paper estimates the response of the unemployment rate and labor force participation rate to exogenous variation in the youth share of the working age population, using cross-state variation in lagged birth rates as an instrumental variable. A one percent increase in the youth share reduces...
Persistent link: https://www.econbiz.de/10005778614
We study the inferences about labor adjustment costs obtained by the 'gap methodology' of Caballero and Engel [1993] and Caballero, Engel and Haltiwanger [1997]. In that approach, the policy function of a manufacturing plant is assumed to depend on the gap between a target and the current level...
Persistent link: https://www.econbiz.de/10005723027
Recent declines in job tenure have coincided with a shift away from traditional defined benefit (DB) pensions, which reward long tenure. Recent evidence also points to an increase in job-to-job movements by workers, and we document gains in relative wages of job-to-job movers over a similar...
Persistent link: https://www.econbiz.de/10005089057
This paper formalizes and assesses empirically the implications of widely observed evidence for downward nominal wage … rigidity (DNWR). It shows how a model of DNWR informed by diverse evidence for worker resistance to nominal wage cuts is … nevertheless consistent with weak macroeconomic effects. This occurs because firms have an incentive to compress wage increases as …
Persistent link: https://www.econbiz.de/10005714106
This paper develops a framework to understand the role of interpersonal interactions in the labor market including task assignment and wages. Effective interpersonal interactions involve caring, to establish cooperation, and at the same time directness, to communicate in an unambiguous way. The...
Persistent link: https://www.econbiz.de/10005049900
), Altonji and Shakotko (1987) and Topel (1991) as well as a new PSID sample. Topel's use of a wage and a tenure that refer to … and Topel points to an effect of ten years of tenure on the log wage equal to .11, which is above AS's preferred estimate … of .066 but far below Topel's estimate. However, this estimate is probably biased upward by the wage measure used in all …
Persistent link: https://www.econbiz.de/10005580347