| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w15790 |
| 来源ID | Working Paper 15790 |
| How Much Is Employment Increased by Cutting Labor Costs? Estimating the Elasticity of Job Creation | |
| Paul Beaudry; David A. Green; Benjamin M. Sand | |
| 发表日期 | 2010-02-25 |
| 出版年 | 2010 |
| 语种 | 英语 |
| 摘要 | In search and bargaining models, the effect of higher wages on employment is determined by the elasticity of the job creation curve. In this paper, we use U.S. data over the 1970-2007 period to explore whether labor market outcomes abide by the restrictions implied by such models and to evaluate the elasticity of the job creation curve. The main difference between a job creation curve and a standard demand curve is that the former represents a relationship between wages and employment rates, while the latter represents a relationship between wages and employment levels. Although this distinction is quite simple, it has substantive implications for the identification of the effect of higher wages on employment. The main finding of the paper is that U.S. labor market outcomes observed at the city-industry level appear to conform well to the restrictions implied by search and bargaining theory and, using 10-year differences, we estimate the elasticity of the job creation curve with respect to wages to be -0.3. We interpret this relatively low elasticity as reflecting a low propensity for individuals to become more entrepreneurial and create more jobs when labor costs are lower and variable profits are higher. |
| 主题 | Macroeconomics ; Consumption and Investment ; Labor Economics ; Labor Supply and Demand ; Labor Compensation |
| URL | https://www.nber.org/papers/w15790 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/573463 |
| 推荐引用方式 GB/T 7714 | Paul Beaudry,David A. Green,Benjamin M. Sand. How Much Is Employment Increased by Cutting Labor Costs? Estimating the Elasticity of Job Creation. 2010. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w15790.pdf（468KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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