Abstract The own-wage elasticity of labor demand measures the effect higher wages on firms’ for and, thus, determines impact supply shocks, minimum wages, and collective wage agreements market. I carry out a comprehensive meta-analysis to shed light nature this parameter, leveraging 705 estimates from 105 studies German average is −0.43, but entails important heterogeneity: Labor turns particul...

This paper shows that labor demand plays an important role in the market reactions to a pension reform Germany. Employers with high share of older worker inflow compared their younger inflow, employers sectors few investments research and development, collective bargaining agreements allow employees stay employed longer after reform. These offer partial retirement instead forcing them into unem...

APPROXIMATION OF THE KEYNESIAN MULTIPLIER EMBEDDED IN GHH PREFERENCES. — In a model with GHH preferences, the labor wedge determines the local output multiplier with respect to demand shocks. This result was obtained by Auclert and Rognlie (2017), and in this appendix it is restated in the context of the current paper. To see why the labor wedge is important, note that holding rt+1 (controlled ...

Labor market conditions, i.e. labor market tightness and prevailing wages, determine the cost of hiring new workers and thus can have a profound impact on employment growth. In this paper, I estimate firm level elasticity of labor demand with respect to changes in labor market conditions, allowing for heterogeneous response both across firms and across regions. I consider changes along two marg...

Biological market forces shape patterns of cooperation typical of small-scale human societies that are organized by division of labor based on age and gender. Labor specialization promotes trade, while supply and demand affect the amount individuals exchange for commodities.

This paper, instrumented with six theorems, shows that differences between firms in labor productivity, capital intensity and relative demand for skilled labor can be explained by differences in the substitution parameters between capital, skilled and unskilled labor in the presence of skill biased technical change. D 2005 Elsevier B.V. All rights reserved.