Labor Markets & Business Cycles
Afbeeldingen
Sla de afbeeldingen overArtikel vergelijken
Auteur:
Robert Shimer
Co-auteur:
Robert Shimer
- Engels
- Hardcover
- 9780691140223
- 02 mei 2010
- 192 pagina's
Samenvatting
Shows analytically and quantitatively that rigid wages are important for explaining the volatile behavior of the unemployment rate in business cycles. This book focuses on the labor wedge that arises when the marginal rate of substitution between consumption and leisure does not equal the marginal product of labor.
Labor Markets and Business Cycles integrates search and matching theory with the neoclassical growth model to better understand labor market outcomes. Robert Shimer shows analytically and quantitatively that rigid wages are important for explaining the volatile behavior of the unemployment rate in business cycles. The book focuses on the labor wedge that arises when the marginal rate of substitution between consumption and leisure does not equal the marginal product of labor. According to competitive models of the labor market, the labor wedge should be constant and equal to the labor income tax rate. But in U.S. data, the wedge is strongly countercyclical, making it seem as if recessions are periods when workers are dissuaded from working and firms are dissuaded from hiring because of an increase in the labor income tax rate. When job searches are time consuming and wages are flexible, search frictions--the cost of a job search--act like labor adjustment costs, further exacerbating inconsistencies between the competitive model and data. The book shows that wage rigidities can reconcile the search model with the data, providing a quantitatively more accurate depiction of labor markets, consumption, and investment dynamics. Developing detailed search and matching models, Labor Markets and Business Cycles will be the main reference for those interested in the intersection of labor market dynamics and business cycle research.
Labor Markets and Business Cycles integrates search and matching theory with the neoclassical growth model to better understand labor market outcomes. Robert Shimer shows analytically and quantitatively that rigid wages are important for explaining the volatile behavior of the unemployment rate in business cycles. The book focuses on the labor wedge that arises when the marginal rate of substitution between consumption and leisure does not equal the marginal product of labor. According to competitive models of the labor market, the labor wedge should be constant and equal to the labor income tax rate. But in U.S. data, the wedge is strongly countercyclical, making it seem as if recessions are periods when workers are dissuaded from working and firms are dissuaded from hiring because of an increase in the labor income tax rate. When job searches are time consuming and wages are flexible, search frictions--the cost of a job search--act like labor adjustment costs, further exacerbating inconsistencies between the competitive model and data. The book shows that wage rigidities can reconcile the search model with the data, providing a quantitatively more accurate depiction of labor markets, consumption, and investment dynamics. Developing detailed search and matching models, Labor Markets and Business Cycles will be the main reference for those interested in the intersection of labor market dynamics and business cycle research.
Productspecificaties
Wij vonden geen specificaties voor jouw zoekopdracht '{SEARCH}'.
Inhoud
- Taal
- en
- Bindwijze
- Hardcover
- Oorspronkelijke releasedatum
- 02 mei 2010
- Aantal pagina's
- 192
- Illustraties
- Nee
Betrokkenen
- Hoofdauteur
- Robert Shimer
- Co Auteur
- Robert Shimer
- Hoofduitgeverij
- Princeton University Press
Overige kenmerken
- Extra groot lettertype
- Nee
- Product breedte
- 165 mm
- Product hoogte
- 24 mm
- Product lengte
- 244 mm
- Studieboek
- Nee
- Verpakking breedte
- 165 mm
- Verpakking hoogte
- 235 mm
- Verpakking lengte
- 235 mm
- Verpakkingsgewicht
- 425 g
EAN
- EAN
- 9780691140223
Je vindt dit artikel in
- Categorieën
- Taal
- Engels
- Beschikbaarheid
- Leverbaar
- Boek, ebook of luisterboek?
- Boek
- Studieboek of algemeen
- Algemene boeken
Kies gewenste uitvoering
Kies je bindwijze
(3)
Prijsinformatie en bestellen
De prijs van dit product is 83 euro.
2 - 3 weken
Verkoop door bol
- Prijs inclusief verzendkosten, verstuurd door bol
- Ophalen bij een bol afhaalpunt mogelijk
- 30 dagen bedenktijd en gratis retourneren
- Dag en nacht klantenservice
Rapporteer dit artikel
Je wilt melding doen van illegale inhoud over dit artikel:
- Ik wil melding doen als klant
- Ik wil melding doen als autoriteit of trusted flagger
- Ik wil melding doen als partner
- Ik wil melding doen als merkhouder
Geen klant, autoriteit, trusted flagger, merkhouder of partner? Gebruik dan onderstaande link om melding te doen.