Costs of business cycles for unskilled workers
نویسندگان
چکیده
منابع مشابه
The cost of business cycles for unskilled workers
This paper reconsiders the cost of business cycles under incomplete markets. Primarily, we focus on the heterogeneity in the cost of business cycles among agents with different skill levels. Unskilled workers are subject to a much larger risk of unemployment during recessions than are skilled workers. Moreover, unskilled workers earn less income, which limits their ability to self-insure. We ex...
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Working papers of the Federal Reserve Bank of Cleveland are preliminary materials circulated to stimulate discussion and critical comment on research in progress. They may not have been subject to the formal editorial review accorded official Federal Reserve Bank of Cleveland publications. The views stated herein are those of the authors and are not necessarily those of the Federal Reserve Bank...
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This note outlines and discusses some of the strands in the post-Keynesian literature on business cycles. Most post-Keynesians have focused on endogenously generated cycles, but the mechanism varies: some focus on the goods market, others on financial markets, the labor market, or political intervention. The merits of formal modeling of the cycles have also come in for debate. 1 A slightly vers...
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This paper contributes to the search theory of unemployment by endogenously generating matching functions for skilled and unskilled workers from a wage-posting game. The model is capable of producing a positive skill premium and a positive wage di®erential among homogeneous unskilled workers. The skill premium arises from a skill-biased technology; the wage di®erential among unskilled workers s...
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In this paper, we present the process of rebalancing the line at motorcycle-assembly plant. The company found it necessary to rebalance its line, since it needs to increase production in the spring and summer months. The main characteristics of the problem are as follows: (i) the company hires temporary staff, who need more time to carry out their tasks than permanent workers; (ii) there must a...
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ژورنال
عنوان ژورنال: Journal of Monetary Economics
سال: 2006
ISSN: 0304-3932
DOI: 10.1016/j.jmoneco.2005.08.014