Labor utilization and nonwage labor costs in a disequilibrium macro framework

Article Abstract:

The utilization of labor and nonwage labor costs are discussed through a macroeconomic model that assumes the existence of disequilibrium in the labor market. The components of labor are separately analyzed with employment and working hours among the main variables. The results differ from usual models that fail to include labor costs and utilization and distinguish among the labor components. The reduction of working hours are not seen as favoring employment, a finding that contrasts with traditional analysis.

Research, Labor costs

---

Union cooperations and nontraded goods in general equilibrium

Article Abstract:

An open labor market dealing in traded and nontradedgoods produced by unionised workers is described by a two-sector general equilibrium model. The model is used to examine localized wage setting against centralized wage setting. The results reveal certain asymmetries between the two sectors originating from the pegging of the tradable good's price to world market rates. A model of centralized wage formation known as bargaining cooperation is also introduced.

---

Welfare losses in disequilibrium markets - an empirical illustration

Article Abstract:

There are welfare losses when prices do not bring supply and demand together, and the timber market in Sweden has been used to illustrate particular characteristics of this process, including how stochastic elements are distributed. Welfare losses typically relate to consumer surplus and producer surplus diverging in a switch from disequilibrium to equilibrium. Though prices are set beforehand, stochastic shocks follow, which influence levels of welfare loss.

Finance, taxation, & monetary policy, Social aspects, Welfare economics, Supply and demand

Similar abstracts:

• Abstracts: Stabilization of emissions of CO2: a computable general equilibrium assessment. The marginal cost of funds in the presence of environmental externalities
• Abstracts: Corruption and supervision costs in hierarchies. When do creditor rights work? Law enforcement and legal presumptions
• Abstracts: Diversification patterns and long-term corporate performance. Corporate governance and the returns to acquiring firms shareholders: an international comparison
• Abstracts: Ronald Coase on the nature of social cost as a key to the problem of the firm. Ronald Coase - old-fashioned scholar

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.