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  1. Elasticities of labor supply and labor force participation flows
    Author: Cairó, Isabel; Fujita, Shigeru; Morales-Jiménez, Camilo
    Published: January 2019
    Publisher:  Research Department, Federal Reserve Bank of Philadelphia, Philadelphia, PA

    REVISED MARCH 2019 Using a representative-household search and matching model with endogenous labor force participation, we study the interactions between extensive-margin labor supply elasticities and the cyclicality of labor force participation... more

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    Helmut-Schmidt-Universität, Universität der Bundeswehr Hamburg, Universitätsbibliothek
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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    VS 438
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    REVISED MARCH 2019 Using a representative-household search and matching model with endogenous labor force participation, we study the interactions between extensive-margin labor supply elasticities and the cyclicality of labor force participation flows. Our model successfully replicates salient business-cycle features of all transition rates between three labor market states, the unemployment rate, and the labor force participation rate, while using values of elasticities consistent with micro evidence. Our results underscore the importance of the procyclical opportunity cost of employment, together with wage rigidity, in understanding the cyclicality of labor market flows and stocks

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Working paper / Research Department, Federal Reserve Bank of Philadelphia ; 19, 03 (January 2019)
    FRB of Philadelphia Working Paper ; No. 19-3
    Subjects: Labor force participation; unemployment; labor supply elasticity
    Scope: 1 Online-Ressource (circa 71 Seiten), Illustrationen
  2. Time averaging meets labor supplies of heckman, lochner, and taber
    Author: Graves, Sebastian; Gregory, Victoria; Ljungqvist, Lars; Sargent, Thomas J.
    Published: 04 August 2023
    Publisher:  Centre for Economic Policy Research, London

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    LZ 161
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    Universitätsbibliothek Mannheim
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Array ; DP18345
    Subjects: Time averaging; labor supply elasticity; retirement; taxation; Laffer curve; social security reform
    Scope: 1 Online-Ressource (circa 85 Seiten), Illustrationen
  3. Labor market competition and inequality
    Author: Garcia-Louzao, Jose; Ruggieri, Alessandro
    Published: December 2023
    Publisher:  CESifo, Munich, Germany

    Does competition in the labor market affect wage inequality? Standard textbook monopsony models predict that lower employer labor market power reduces wage dispersion. We test this hypothesis using Social Security data from Lithuania. We first fit a... more

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 63
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    Does competition in the labor market affect wage inequality? Standard textbook monopsony models predict that lower employer labor market power reduces wage dispersion. We test this hypothesis using Social Security data from Lithuania. We first fit a two-way fixed effects model to quantify the contribution of worker and firm heterogeneity to wage dispersion and document that the compression of dispersion in firm fixed effects has been the main source of the decline in inequality over the past 20 years. Using a theory-based relationship, we then leverage variation across sectors and over time to show that a 10 percentage point increase in labor market competition leads to a 0.7 percentage point reduction in the variance of firm-specific wage components. A counterfactual exercise using our preferred estimates suggests that the increase in labor market competition can explain at least 15 percent of the observed decline in overall wage inequality.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/282517
    Series: CESifo working papers ; 10829 (2023)
    Subjects: wage inequality; firm heterogeneity; monopsony; labor supply elasticity
    Scope: 1 Online-Ressource (circa 52 Seiten), Illustrationen