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Author: Alan de Brauw Publisher: ISBN: Category : Languages : en Pages : 40
Book Description
The debate over the wage effects of immigration for native workers is an old one. One side of the debate claims that immigration has little if any negative impact on wages among natives, whereas others suggest that immigration has large, negative effects on native wages. On the latter side of the debate, many point to the work of Borjas (2003), who takes a national view of the US economy and estimates a wage elasticity of -0.4 with respect to immigration. In this paper, we replicate and update Borjas with the 2010 US census data, and use the method to study an even larger, concurrent labor supply shock, namely the entry of women into the labor force. We both find a much lower wage elasticity than Borjas to immigration (-0.2) and estimate a positive, statistically significant relationship between men's wages and women's entry into education-experience cells when wages are annualized. We take this evidence to suggest that the Borjas model is misspecified as it inadequately specifies substitution between immigrants and natives, and inadequately controls for structural change in the US economy.
Author: Alan de Brauw Publisher: ISBN: Category : Languages : en Pages : 40
Book Description
The debate over the wage effects of immigration for native workers is an old one. One side of the debate claims that immigration has little if any negative impact on wages among natives, whereas others suggest that immigration has large, negative effects on native wages. On the latter side of the debate, many point to the work of Borjas (2003), who takes a national view of the US economy and estimates a wage elasticity of -0.4 with respect to immigration. In this paper, we replicate and update Borjas with the 2010 US census data, and use the method to study an even larger, concurrent labor supply shock, namely the entry of women into the labor force. We both find a much lower wage elasticity than Borjas to immigration (-0.2) and estimate a positive, statistically significant relationship between men's wages and women's entry into education-experience cells when wages are annualized. We take this evidence to suggest that the Borjas model is misspecified as it inadequately specifies substitution between immigrants and natives, and inadequately controls for structural change in the US economy.
Author: Axel Kicillof Publisher: Routledge ISBN: 1351601253 Category : Business & Economics Languages : en Pages : 390
Book Description
Every time the economy goes through a period of crisis, Keynes’ name is called upon by economists and politicians from diverse backgrounds. However, 70 years after the publication of The General Theory of Employment, Interest and Money, specialists are still far—maybe everyday further—from reaching agreement about the genuine contents of Keynes’ most important work. This controversy has been marked by a paradoxical turn: it is above all the literature about Keynes which, in the last decades, has imposed the terms of the debate, while The General Theory lacks readers. Accused by both its detractors and admirers of being a confusing book that is inconsistent and even plagued with logical errors, the most important contribution of the most influential economist of the 20th century has been condemned to be forgotten or, at best, to live uncomfortably in the voices of those who have spoken on his behalf. This book is the result of rigorous critical research which reconstructs the spectrum of discussion surrounding Keynes’ main work. The book begins by describing the historical background and the state of the pre-Keynesian economic theory, subsequently immersing the reader in a concise but detailed—as well as innovative— interpretation of the original text. The revision of some of the main interpretative currents prepares the field for the book’s ultimate contribution: the identification of the fundamentals that sustain the analytical structure of The General Theory. At the same time, this exploration of the theoretical fundamentals of The General Theory makes this book an original intervention on the genesis and relevance of the divide between micro and macroeconomics—a division that has been fully accepted by contemporary macro theorists.
Author: D. P. O'Brien Publisher: Princeton University Press ISBN: 0691177988 Category : Business & Economics Languages : en Pages : 444
Book Description
The Classical Economists Revisited conveys the extent, diversity, and richness of the literature of economics produced in the period extending from David Hume's Essays of 1752 to the final contributions of Fawcett and Cairnes in the 1870s. D. P. O'Brien thoroughly updates, rewrites, and expands the vastly influential work he first published in 1975, The Classical Economists. In particular, he sets out to make clear the shaping of a comprehensive vision of the working of an open economy, building on the great work of Adam Smith in Wealth of Nations, a development that was substantially affected by the contributions of David Ricardo. He shows that the Classical literature was in fact the work of a host of thinkers from a wide range of backgrounds. Covering the intellectual roots of the Classical literature and its methodological approaches, and the developed theories of value, distribution, money, trade, population, economic growth, and public finance, and examining the Classical attitudes toward a rich variety of policy issues, The Classical Economists Revisited considers not only the achievements of the Classical writers but also their legacy to the later development of economics. A seminal contribution to the field, this book will be treasured for many years to come by economists, historians of economics, instructors and their students, and anyone interested in the sweeping breadth and enduring influence of the classical economists.
Author: Olivier J. Blanchard Publisher: Economic and Social Reseach Institute (ESRI) ISBN: Category : Business & Economics Languages : en Pages : 66
Book Description
Abstract: This paper starts from two sets of facts about Continental Europe. The first is the steady increase in unemployment since the early 1970s. The second is the evolution of the capital share, an initial decline in the 1970s, followed by a much larger increase since the mid-1980s. The paper then develops a model of capital accumulation, unemployment and factor prices. Using this model to look at the data, it reaches two main conclusions: The initial increase in unemployment, from the mid-1970s to the mid-1980s, was mostly due to a failure of wages to adjust to the slowdown in underlying factor productivity growth. The initial effect was to decrease profit rates and capital shares. Over time, the reaction of firms was to reduce capital accumulation and move away from labor, leading to a steady increase in unemployment, and a recovery of the capital share. The reason why wage moderation, clearly evident in the data since the mid-1980s, has not led to a decrease in unemployment is that another type of shift has been at work, this time on the labor demand side. At a given wage and a given capital stock firms have steadily decreased employment. The effect of this adverse shift in labor demand has been to lead to both continued high unemployment, and increasing capital shares. What lies behind this shift in labor demand? There are two potential lines of explanation. The first is shifts in the distribution of rents away from workers, for example, the elimination of chronic excess employment by firms. The second explanation points to technological bias: firms in Continental Europe are introducing technologies biased against labor and towards capital.
Author: Nelson Lim Publisher: Rand Corporation ISBN: 0833041185 Category : Business & Economics Languages : en Pages : 112
Book Description
Previous studies have shown that military wives-women married to U.S. military service members-are more likely to be unemployed and earning less than their civilian counterparts. But these studies rely on information that is somewhat dated, and they have little to say about military husbands. This study revisits the gaps in employment and earnings between military and civilian wives using the 2000 census, and extends these analyses to include military husbands. Military spouses continue to be at a relative disadvantage in the labor market compared with civilian spouses. Even though policies that target demographic disparities such as mobility, location, and child care may reduce the gaps to a certain extent, they will not affect the portion attributable to unobserved factors that are not captured in the census data, such as employer's attitude.
Author: K. Brunner Publisher: Springer Science & Business Media ISBN: 940098135X Category : Business & Economics Languages : en Pages : 367
Book Description
The fateful days of the great stock market crash entered modem history almost 50 years ago to this day. The cyclic turning point of the U. S. economy oc curred, however, around June 1929, and economic activity receded substantial ly over the subsequent months. The onset of an economic downswing thus became clearly visible before the famous crash. But the October event stays in the public's mind as the symbol of the Great Depression. For nearly four years, until the spring of 1933, the U. S. economy plunged into a deep reces sion. Activity declined, prices fell, and there emerged a massive unemploy ment problem. The economy ultimately overcame this shock in 1933. Prices rose rapidly in spite of substantial margins of unusual resources. Activity ex panded, but occasionally at a somewhat hesitant rate. The expansion, however, was interrupted by another recession of major proportions during 1937-38. The tragic sequence of events shaped public consciousness and influenced new approaches and views in economic policymaking. The activist approach to "stabilization policy" and a wide range of regulatory policies were essentially justified in terms of this experience. These policies were crucially influenced by our understanding and interpretation of the Great Depression. The view of a radically unstable economic process perennially on the edge of serious collapse gained wide popularity and became a central element of the Keynesian tradi- 2 INTRODUCTION tion. It encouraged, with supplementary interpretations, an interventionist and expanding role of the government in our economic affairs.
Author: OECD Publisher: OECD Publishing ISBN: 9264288732 Category : Languages : en Pages : 194
Book Description
How Immigrants Contribute to Developing Countries' Economies is the result of a project carried out by the OECD Development Centre and the International Labour Organization, with support from the European Union. The report covers the ten project partner countries.
Author: Amitrajeet A Batabyal Publisher: World Scientific ISBN: 9811267669 Category : Psychology Languages : en Pages : 390
Book Description
We are now at a point where 'analytical advances' permit researchers to theoretically and empirically formulate, model, and test many of the ideas pertaining to the working of Richard Florida's 'creative class' in interesting and new ways. The kind of advances we have in mind include, but are not limited to, recent developments in growth theory in economics, improvements in statistics and in regional science that permit researchers to analyze data in novel ways, and progress in computer science that allows researchers to take advantage of, for instance, natural language processing. The objective of this book is to demonstrate how new analytical advances permit one to have a richer and more nuanced understanding of the ways in which the creative class has functioned and the ways in which its abilities can be harnessed for the betterment of society at large.
Author: Alan de Brauw
Author: Alan de Brauw
Author: Axel Kicillof
Author: D. P. O'Brien
Author: Lars Jonung
Author: Ragui Assaad
Author: Olivier J. Blanchard
Author: Nelson Lim
Author: K. Brunner
Author: OECD
Author: Amitrajeet A Batabyal