Short Run Labor Productivity in a Dynamic Model
Short Run Labor Productivity in a Dynamic Model
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In our eReader you can find the full English version of the book. Read Short Run Labor Productivity in a Dynamic Model Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book Short Run Labor Productivity in a Dynamic Model
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To quickly assess the difficulty of the text, read a short excerpt:
The difference between long and short run elasticities of demand for aggregate labor L can be written as LQ LQ 9.
3U 9S [9Q ^ 3QJ 3U 9S [3Q ^ 9QJ (Q/L)' 8U dK* 3Q ' 9S* 9Q ' 9Q 9K* 9U as* ^ 9S* "I (39) L S Hence, again, a sufficient condition for e~ - E-- to be positive is that there be U-K and U-S complementarity (9S*/9Q is positive by assumption) .
On the other hand, even if unskilled labor were substitutable with both physical capital and with skilled labor, as long as 9S*/9Q were sufficient...ly large, the short run aggregate labor-output elasticity would still be less than the corresponding long run elasticity. This implies that SRIRL in the aggregate is possible even with U-K and U-S substitutability . It is clear, therefore, that the mere existence of labor hoarding (or quasi-f ixity) of skilled labor is not sufficient to yield the classic result that S L e~ e- .
What to read after Short Run Labor Productivity in a Dynamic Model?
You can find similar books in the "Read Also" column, or choose other free books by Ernst R Berndt to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
The difference between long and short run elasticities of demand for aggregate labor L can be written as LQ LQ 9.
3U 9S [9Q ^ 3QJ 3U 9S [3Q ^ 9QJ (Q/L)' 8U dK* 3Q ' 9S* 9Q ' 9Q 9K* 9U as* ^ 9S* "I (39) L S Hence, again, a sufficient condition for e~ - E-- to be positive is that there be U-K and U-S complementarity (9S*/9Q is positive by assumption) .
On the other hand, even if unskilled labor were substitutable with both physical capital and with skilled labor, as long as 9S*/9Q were sufficient...ly large, the short run aggregate labor-output elasticity would still be less than the corresponding long run elasticity. This implies that SRIRL in the aggregate is possible even with U-K and U-S substitutability . It is clear, therefore, that the mere existence of labor hoarding (or quasi-f ixity) of skilled labor is not sufficient to yield the classic result that S L e~ e- .
What to read after Short Run Labor Productivity in a Dynamic Model?
You can find similar books in the "Read Also" column, or choose other free books by Ernst R Berndt to read onlineMoreLess
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