This is a short book. It aims to get across the essential elements of dynamics
that are used in modern treatments of the subject. More significantly, it aims
to do this through the means of examples. Some of these examples are purely
algebraic. But many others consider economic models: both microeconomic
and macroeconomic. Macroeconomics is replete with dynamic models – some
simple and others quite complex. But this is not true of microeconomics.
For the past fifteen years the New Keynesian model has
served as a frame of reference for analyses of fluctuations
and stabilization policies.1 That framework has allowed the
rigor and internal consistency of dynamic general equilibrium
models to be combined with typically Keynesian
assumptions, like monopolistic competition and nominal
rigidities, thus setting the stage for a meaningful, welfarebased
analysis of the effects of alternative monetary policy
The Santa Fe Institute (SFI) is interested in understanding evolving complex
social, biological, and physical adaptive systems in a most general sense
(see Cowan et al. 1994). Those of us at SFI interested in the evolution of
social behavior have tended to focus on either small-scale societies or on specific
aspects of more complex societies, such as the economy.
People use social media for a number of reasons: communicating, collaborating, seeking expert advice,
sharing multimedia, presenting opinions, sharing reviews and for entertainment.
Many claim that social media brings a new sense of community by allowing people to connect with others
who are similar to themselves. While this might involve reconnecting with long lost friends from childhood
or former coworkers, it is also used to meet new friends who have similar interests.
An increasing number of people are using social media in their buying decisions.
Our empirical analysis uses two different data sources: the RobertWood Johnson Foundation’s 1997
Employer Health Insurance Survey (EHIS) and MEDSTAT MarketScan commercially insured health
claims and eligibility information for 1998–1999. We ﬁrst use the EHIS data to examine turnover
patterns and their relationship to ﬁrm and employee characteristics. The EHIS data reveal that small
ﬁrms are very heterogeneous; the heterogeneity concerns workers’ turnover rates, besides workers’ age
distribution and other health-related demographic variables.
It was during the Depression that hospitals band-
ed together to offer prepaid coverage to citizens.
Prepaid hospital coverage was a way for hospitals to
avoid the financial failure that befell the banking
industry. The approach worked so well that doctors
followed suit a few years later and Blue Cross Blue
Shield organizations were born. Little did anyone
know that the seeds for runaway costs eighty years
later had been planted.
Prepaid, employer-provided insurance quickly
dominated the health care landscape.
Chapter 17 - Unemployment: meaning and measurement. The following will be discussed in this chapter: Measurement of unemployment, incidence and duration of unemployment, Canadian unemployment trends, does unemployment rate accurately reflect hardship?
Chapter 6 Search, Matching, and Unemployment
This chapter applies dynamic programming to a choice between only two actions, to accept or reject a take-it-or-leave-it job oﬀer. An unemployed worker faces a probability distribution of wage oﬀers or job characteristics
Our evidence is based on the everyday consumption choices of the typical
household, and thus constitutes an important contribution to the body of evidence from
previous studies, which have focused on various sub-populations and different choice
Job creation is only one measure of economic vitality, but it is crucial for several
reasons. Jobs provide a living for people, and when there are not enough of them, as in
recent years, the society and economy take multiple hits. The unemployed suffer.
Demand for social-welfare payments goes up, putting an added strain on public budgets,
while demand for goods and services in the marketplace goes down, putting a damper
on growth. Conversely, when jobs are being created at a strong rate, these dynamics
are reversed and we get an upward spiral. ...
Traditional estimates that often find minimum wage disemployment effects include
controls for state unemployment rates and state- and year-fixed effects. Using CPS
data on teens for the period 1990–2009, we show that such estimates fail to account
for heterogeneous employment patterns that are correlated with selectivity among
states with minimum wages. As a result, the estimates are often biased and not
robust to the source of identifying variation.
One of the barriers to enterprises employing ten or less workers – very small and micro enterprises (VSMEs) – potentia l ly making important contributions to meeting South Africa’s targets for reducing poverty and unemployment and increasing broad-based economic empowerment is skills development. Nonetheless, in this volume, which draws together two studies for the Department of Labour, a picture of the dynamism of many such firms emerges.