The Compute Power Market (CPM) is a market-based resource management and job scheduling system for grid computing on Internet-wide computational resources, particularly low-end personal computing devices. It transforms the metacomputing environment into a computational market wherein one can solve problems by renting computational power, storage, and special services from idle resources (comput...

We integrate local labor market data on worker flows (accession and separation rates), job flows (creation and destruction rates), employment levels, and earnings with MSA-level data on housing prices and local area unemployment, in order to study the local labor market dynamics associated with the U.S. housing price bubble of the late 2000s. We proceed to study the magnitude and timing of the ...

Does immigration generate jobs in an MSA, or do employment opportunities entice immigrant inflows to an MSA? Is immigration responsible for higher unemployment, or do foreign-born inflows cause increases in self-employment that lead to improvement in labor market conditions? The causal relationship between immigrants, job growth and unemployment is a politically and economically salient subject...

We present an experimental information market designed to aggregate IT job related information distributed among the traders in the market. The payoffs of the shares in this market were tied to true IT job demand in the real world. This paper focuses on the market outcomes of profit or loss made in this market, and more specifically the factors that may lead to either outcome. We explore the us...

Labor market policies succeed or fail at least in part depending on how well they reflect or account for behavioral responses. Insights from behavioral economics, which allow for realistic deviations from standard economic assumptions about behavior, have consequences for the design and functioning of labor market policies. We review key implications of behavioral economics related to procrasti...

In perfectly competitive labour markets, there is a market for non-material job amenities in which workers’ willingness to pay for these goods implies that workers accept compensating wage differentials, such that jobs with better working conditions should have lower wages. In labour market characterised by frictions, workers’ wages typically depend also on firm productivity. However many job c...

In recessions, the stock market falls more than in proportion to corporate profit. The discount rate implicit in the stock market rises. All types of investment fall, including employers’ investment in job creation. According to the leading view of unemployment—the Diamond-Mortensen-Pissarides model—when the incentive for job creation rises, the labor market tightens and unemployment falls. Emp...