Labor market modeling using a labor supply function of two-arguments

Labor market modeling using a labor supply function of two-arguments

A two-argument function of individual labor supply is considered. Real wage and unemployment rates are the arguments of this function. Conditions of emergence of direct and inverse relations between these two economic indicators are investigated. This function is used to analyze processes in a compe...

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Veröffentlicht in:Cybernetics and systems analysis 2010-09, Vol.46 (5), p.699-709
Hauptverfasser: Mikhalevich, M. V., Koshlai, L. B.
Format: Artikel
Sprache:eng
Schlagworte:
Artificial Intelligence
Compensation
Control
Cybernetics
Economic conditions
Economics
Employers
Employment
Equilibrium
Expected utility
Indicators
Inverse
Labor
Labor economics
Labor market
Labor supply
Markets
Mathematical models
Mathematics
Mathematics and Statistics
Processor Architectures
Software Engineering/Programming and Operating Systems
Statistics
Studies
Systems analysis
Systems Theory
Unemployment
Wage rates
Wages
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Beschreibung
Zusammenfassung:A two-argument function of individual labor supply is considered. Real wage and unemployment rates are the arguments of this function. Conditions of emergence of direct and inverse relations between these two economic indicators are investigated. This function is used to analyze processes in a competitive and monopsonic labor market. The expediency and conditions are substantiated for the use of the exogenous increase in labor remuneration by increasing minimal wage.
ISSN:1060-0396
1573-8337
DOI:10.1007/s10559-010-9250-x