CHOICE IN HIGHER EDUCATION: COLLEGE MAJORS. FINANCIAL AID. AND TRANSITION TO THE LABOR MARKET The argument above, supported by the
theoretical model developed in the next section, predicts that ∂ 0
θ for moderate values
of δ but that ∂ = 0
θ when δ is zero or large (i.e. when parents care only about
effectiveness or only about peer group).
The Incentive Effects of Social Policies on Education and Labor Markets Several specification tests and alternative data sets fail to reveal
important biases in the basic models. Several specification tests and alternative data sets fail to reveal
important biases in the basic models.
Since 1986, with the open door policy, Vietnam
has been integrating successfully into the world
community and at the same time into the world
market. Due to economic, political and social
changes, there are definitely new and growing
linguistic needs and demands.
The objective of the dissertation: On the basis of the systematization of theoretical and empirical issues on labor markets, the dissertation focuses on analyses and assessments of changes in the labor market of the Mekong Delta region. From then, the dissertation proposes a number of solutions to the development of the labor market of the Mekong Delta region in the upcoming time.
Scholarly debates over immigration policy are conducted mainly in terms of
the effect of that policy on labor markets and economic measures of pro-
ductivity. Of principal concern is the fit between the labor-market needs of
a given nation and the composition of people immigrating to that country.
Debates over the displacement of indigenous workers are equally prevalent.
While the economic and labor-force implications of immigration and immi-
gration policy are important, they are not the...
In this chapter we examine how wages are determined in competitive markets and imperfectly competitive markets. We look at factors that impact wages, including the influence of unions. We will analyze wage differences with union models including craft unions and industrial unions. We will discuss reasons for wage differentials across jobs and analyze the effects of the minimum wage on the labor market.
Chapter 13 - Wages and unemployment. Learning objectives of this chapter include: Discuss the four important trends that have characterized labor markets in the U.S. since 1960, apply a supply-and-demand model to understand the labor market, explain how changes in the supply of and demand for labor explain trends in real wages and employment since 1960,...
Chapter 17 - Work and the labor market. In this chapter you will learn: Explain how the supply of labor is determined, explain how the demand for labor is determined, explain how wages are determined by both the supply and demand for labor in combination with social forces, contrast four types of discrimination that occur in labor markets.
Chapter 8 "The labor market", after reading this chapter, you should be able to: Cite the forces that influence the supply of labor, explain why the labor demand curve slopes downward, describe how the equilibrium wage and employment level are determined, depict how a legal minimum wage alters market outcomes, explain why wages are so unequal.
The impact of macroeconomics on daily life is less tangible than that of microeconomics.
Everyone has to deal with rising supermarket prices, fluctuations
in the labor market, and other microeconomic problems. Only a handful of
policymakers and government officials really need to worry about fiscal and
monetary policy, or about a country’s overall competitiveness.
4 Do Initial Conditions Persist between Firms? An Analysis of Firm-Entry Cohort Eﬀects and Job Losers Using Matched Employer-Employee Data. 4.1 Introduction Economists have long been interested in how persistent the eﬀects of short-term unexpected shocks in the labor market are on workers’ careers (e.g., Okun 1973)
The objective of this chapter is to discuss recent developments in the literature that studies
how the dynamics of earnings and wages affect consumption choices over the life cycle.
Labor economists and macroeconomists are the main contributors to this area of research.
A theme of interest for both labor economics and macroeconomics is to understand how
much risk households face, to what extent risk affects basic household choices such as
consumption, labor supply and human capital investments, and what types of risks matter
in explaining behavior.
Prices are of great importance in macroeconomics as indeed they are in microeconomics. However, in microeconomics we are more interested in prices of individual goods and services and such prices are rarely important for the economy as a whole although there are exceptions (for example, the price of oil). In macroeconomics we are more interested in how prices change on average. We define the pricelevel as a weighted average of several different prices.
Publisher: RANDPublished Time: RANDPages: 100Countries in the Arab region are faced with the challenge of developing their populations’ skills and technical knowledge, or human capital, in order to compete in the 21st century global economy. The authors describe the education and labor market initiatives implemented or under way in four countries in the Arab region ......
The following is a primer for understanding some basic facts about small businesses’ role in
employment and the data that are available to form opinions and develop hypotheses. The paper is
broken into sections discussing the static view of the labor market, the dynamic view, current
events, and concluding remarks. The static view illustrates small and large firm shares of the job
market; these are essentially snapshots in time. The dynamic view tracks how firms got from point
A to point B, and what happened to jobs along the way. For instance, the static view shows...
Incoming data on the labor market have remained disappointing. Private-sector
employment has grown only sluggishly, the small decline in the unemployment rate is
attributable more to reduced labor force participation than to job creation, and initial
claims for unemployment insurance remain high. Firms are reluctant to add permanent
employees, citing slow growth of sales and elevated economic and regulatory
In order to clarify the assumptions underlying our empirical strategy, we present a model of wages
as it relates to the decision to obtain an MBA. The decision to obtain an MBA is modelled similarly
to the labor market program participation models discussed in Heckman et al. (1999). The purpose
of the model is to clarify the assumptions under which the ﬁxed eﬀects estimate of the returns
to an MBA can be appropriately interpreted as the treatment on the treated.
While it is generally accepted that more education leads to an increase in wages, an extensive liter-
ature attempts to quantify this eﬀect. The diﬃculty lies in disentangling the eﬀect of education on
wages from the unobservable personal traits that are correlated with schooling. Because schooling is
usually completed before entrance into the labor market, previous research has relied on instrumen-
tal variables, such as proximity to colleges or date of birth,
1 or exclusion restrictions in a structural
model to identify the eﬀect of schooling on wages.
For an alternative summary of our U.S. return results, Figure 1 presents a graph of
new moon vs. full moon annualized mean daily returns for the 15-day specification. In
interpreting the graph, it is useful to keep in mind that the returns for the DJIA and the
S&P 500 exclude dividends, while dividends comprise the bulk of total stock returns up
until the last 30 or 40 years (e.g., Fama and French 2001). Thus, it is not surprising that
the returns for the DJIA and the S&P 500 (which start a lot earlier) are lower than those
Furthermore, Fisher’s estimate and the estimate based on NYSE and Flow of Funds
data are very close to that found by Jovanovic and Rousseau (2001). Jovanovic and Rousseau
use data from all of the major and minor exchanges, such as the NYSE, the regional exchanges,
and the over-the-counter market. They compute estimates of the market value of all domestic
corporations comparable to estimates of the Flow of Funds after 1945. (See their appendix