The paper is devoted to construction of optimal trajectories in the model which balances growth trends of investments in capital and labor efficiency. The model is constructed within the framework of classical approaches of the growth theory. It is based on three production factors: capital, educated labor and useful work. It is assumed that capital and educated labor are invested endogenously,...

This paper uses the semiparametric error correction model (Li andWooldridge, 2002) and investigates the dynamics of wage, employment and labor efficiency after introducing five-day work week to the Korean labor market. Efficient working hour function is obtained by nonparametric method (polynomial approximation) and the dynamics are investigated using impulse response analysis. Average derivati...

We discuss superstatistics theory of labour productivity. Productivity distribution across workers, firms and industrial sectors are studied empirically and found to obey powerdistributions, in sharp contrast to the equilibrium theories of mainstream economics. The Pareto index is found to decrease with the level of aggregation, i.e., from workers to firms and to industrial sectors. In order to...

In this paper, using a production framework in which skilled and unskilled labor are imperfect substitutes, I analyze the time paths of the efficiencies of skilled and unskilled labor and their implications for economic growth and wage inequality in the US between 1950 and 2005. There are two main findings. First, I find that skilled labor efficiency has grown more slowly since the mid 1970s. S...

This study examined the effect of corporate governance on labor investment efficiency, using 5178 firm-year samples from companies listed Korean stock market over period 2011 to 2019. In addition, relationship between and efficiency according whether company belongs a chaebol group was examined. Corporate measured KCGS’s ratings. tried verify inefficiency due information asymmetry is improved b...