International Migration of Labor, Efficiency Wages, and Monetary Policies

The Impact of International Migration on the Economy with the Assumption of Labor Heterogeneity

T his study investigated the effect of international labor migration on Iran’s economy using a neo-classical growth model with the assumption of labor heterogeneity within the framework of dynamic stochastic general equilibrium model. After solving the model, the obtained equations were linearized and different values were assigned to the parameters according to Iran’s economy inform...

Migration, Trade and Wages Migration, Trade and Wages

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International Labor Migration in a Globalizing Economy

Sticky Wages, Efficiency Wages, and Market Processes

ainstream macroeconomics is in disarray. Perusal of commonly used textbooks in macroeconomics will confirm that impression without much difficulty. Unfortunately, the same statement could have been made, and often was made, fifteen years ago. While in this sense little has changed in recent years, the disarray is now more fundamental and severe than a t any time since the 1930s. Amidst this dis...

Migration, Frictional Unemployment, and Welfare Improving Labor Policies

Studies have suggested that there exists job search and recruiting friction in urban areas. This paper constructs a two-sector (rural and urban) model involving this factor and investigates how it affects migration and what the optimal policies should be. An analysis shows that frictional urban unemployment brings about inter-sector wage differentials and that an economy almost always has disto...