53 research outputs found
Wage inequality, segregation by skill and the price of capital in an assignment model
Some pieces of empirical evidence suggest that in the U.S., over the last few decades, (i) wage inequality between-plants has risen much more than wage inequality within-plants and (ii) there has been an increase in the segregation of workers by skill into separate plants. This paper presents a frictionless assignment model in which these two features can be explained simultaneously as the result of the decline in the relative price of capital. Additional implications of the model regarding the skill premium and the dispersion in labor productivity across plants are also consistent with the empirical evidence. [resumen de autor
The labor market effects of technology shocks
We analyze the effects of neutral and investment-specific technology shocks on hours worked and unemployment. We characterize the response of unemployment in terms of job separation and job finding rates. We find that job separation rates mainly account for the impact response of unemployment while job finding rates for movements along its adjustment path. Neutral shocks increase unemployment and explain a substantial portion of unemployment and output volatilityinvestment-specific shocks expand employment and hours worked and mostly contribute to hours worked volatility. We show that this evidence is consistent with the view that neutral technological progress prompts Schumpeterian creative destruction, while investment specific technological progress has standard neoclassical feature
Employment generation by small firms in Spain
Despite the relevance in terms of policy, we still know little in Spain about where and by whom jobs are created, and how that is affecting the size distribution of firms. The main innovation of this paper is to use a rich database that overcomes the problems encountered by other firm-level studies to shed some light on the employment generation of small firms in Spain. We find that small firms contribute to employment disproportionately across all sectors of the economy although the difference between their employment and job creation share is largest in the manufacturing sector. The job creators in that sector are both new and established firms whereas only new small firms outperform their larger counterparts in the service sector. The large annual job creation of the small firm size class is shifting the firm size distribution towards the very small production units, although not uniformly across industries of different technology intensit
The Growing Weight of the Emerging Economies in the World Economy and Governance: The Case of the BRICs
Equilibrium Exchange Rates in the New EU Members: External Imbalances vs. Real Convergence
El Empleo De Las Administraciones PPblicas En Espaaa: Caracterizaciin Y Evoluciin Durante La Crisis (General Government Employment in Spain: Composition and Evolution Over the Economic Crisis)
El Impacto De La Consolidacion Fiscal Sobre El Crecimiento Economico - Una Lustracion Para La Economia Espanola A Partir De Un Modelo De Equilibrio General (The Impact of Fiscal Consolidation on Economic Growth - An Illustration for the Spanish Economy Based on a General Equilibrium Model)
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