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 |
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| container_title | Cybernetics and systems analysis |
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| creator | Mikhalevich, M. V. Koshlai, L. B. |
| description | 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. |
| doi_str_mv | 10.1007/s10559-010-9250-x |
| format | Article |
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| subjects | 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 |
| title | Labor market modeling using a labor supply function of two-arguments |
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