The problems of labor supply and labor demand adjustment on the Russian labor market

This paper considers problems and specifics of labor demand and supply relations in the Russian labor market; it identifies and analyzes the underlying factors. It discusses the possibilities of inclusion in the analysis of structural characteristics of labor demand and supply and the dynamics of wages in the process of their conciliation in the Russian labor market, and it presents estimates of its basic parameters.     

The effects of offshoring on wages: a meta-analysis

Review of World Economics - Offshoring, either as FDI or offshore outsourcing, is a phenomenon of increasing importance that has been widely studied in the economics literature. Studies analysing...     

On the heterogeneous short‐term effects of minimum wages on labor demand

A strand of the literature documents no effects or even positive effects of a higher minimum wage on employment. This evidence is frequently linked to the existence of monopsonistic labor markets or search frictions. However, empirical studies show that these findings could be related to a low short‐term minimum wage–employment elasticity in a competitive labor market. We show that mixed theoretical employment effects of a minimum wage policy can be predicted in the short term in assignment economies with price‐taker agents and no search frictions.     

Characteristics of labor market in Serbia - View on the labor demand on Belgrade and Banat labor markets

The labor market in Serbia is characterized by one of the highest unemployment rates of the working population （aged 15 to 64）. Also, it is notified that the unemployed level of the qualification is very low and that there isn＇t enough space in the existing formal educational system for any new introductions （such as prequalification courses, or lifelong educational concepts）. The research on the labor demand was aimed at assessing the state of the labor markets in the selected regions and at analyzing short-term demand for labor force. The analysis establishes： Which sectors of local/regional economy are being developed and are likely to require additional labor force in the next six months; which types of jobs are likely to be in demand in the aforementioned sectors; which additional knowledge and skills are needed for such occupations. The applied methodology also enabled to analyze information on vulnerable groups of unemployed, namely persons with disturbing factors in employment and the young unemployed of up to 24 years of age. In order to gather reliable data at regional level, a research was conducted on a stratified sample covering 1400 enterprises and some of the statistical labor market indicators were established indicating particularities of the labor markets in the surveyed regions -- Belgrade and Banat.     

Investment incentives and the relative demand for skilled labor: Evidence from accelerated depreciation policies in China

This study evaluates the effects of China's 2014 and 2015 accelerated depreciation policies on the relative demand of firms for skilled labor. We develop a simple model to explore how the policies affect the relative demand of firms for skilled labor and illustrate the roles of financing constraints and tax compliance in mediating the policy effects. We then employ a firm-level dataset from China's A-share listed companies and use a quasi-experimental design to examine the model predictions. We find that the policies significantly increase the relative demand of firms for skilled labor. The channels underlying the policy effects are that the policies generate additional cash flow for firms, stimulate investment and, thus, raise the demand of firms for skilled labor with the presence of capital–skill complementarity. We also find that the positive effects of the policies on the relative demand for skilled labor are primarily significant for firms with strong financing constraints and high tax compliance. Moreover, we document the positive effects of the policies on R&D investment, firm value added, productivity, workers' benefits, and corporate social responsibility performance, which further corroborate our main results.     

The value-added tax reform and labor market outcomes: Firm-level evidence from China

The tax incentives designed to stimulate firm investment may have a large and unexpected impact on labor market outcomes. Using a comprehensive data set on Chinese manufacturing firms during the period 1998–2007 with a difference-in-differences approach, we examine the impact of the value-added tax reform in 2004 on the firm-level labor market outcomes. We find that firms in eligible industries and pilot regions (treated firms) enjoying lower costs of purchasing fixed assets under the reform tended to increase capital investment and reduce employment simultaneously relative to firms that did not have tax incentives (the control firms). Compared with the control firms, the treated firms became more capital intensive but had declines in labor share in value added and average wage. We also find that the employment adjustment is associated with increase in the share of skilled workers in terms of engineers and technicians, but not workers with a college degree or higher.     

ICT,offshoring, and the demand for part-time workers: The case of Japanese manufacturing

This paper examines the effects of information and communication technology (ICT) and offshoring on the skill demand in Japanese manufacturing. One of the contributions of this paper is that we focus explicitly on the demand for low-wage part-time workers, which we call low skilled workers. Estimating a system of variable factor demands for the period 1980–2011, we find that industries with higher ICT stock shifted demand from middle-low to middle-high and low skilled workers. Offshoring is associated with the increasing demand for high skilled workers but it has insignificant effects on the demand for middle-high, middle-low, and low skilled workers. The results together suggest that the increasing demand for low-wage part-time workers can be attributable to ICT in Japan.     

Monetary services and money demand in China

Using Barnett's methodology, we construct a monetary services index (MSI) for China. Compared to the traditional simple money aggregates, this index has solid microeconomic foundations, and has consistent variables. With China's on-going economic reforms in full swing, this index may provide a more appropriate indication of the current rapid process of economic monetization and financial innovations. In addition, we that it is capable of using the MSI to replace the conventional simple-sum aggregates in estimating long-term money demand. This may provide attractiveness for the People's Bank of China (PBC) to include the index as an alternative target variable in concluding its monetary policy during the period of rapid economic transition.     

广东省劳动力市场分割与供求关系的实证分析

通过分析广东省劳动力供求状况,发现存在"供不应求"和"失业"并存的现象。那么是什么因素导致人才没有在各行业间自由流动呢?劳动力市场分割理论对此现象作出了解释,本文根据原因提出了相应的建议。     

Forecasting of labor market demand dynamics on different stages of crisis in Russian economics

This paper presents the evaluation of medium-term additional labor force demand based on analysis of projection scenarios of basic macroeconomic indicators of Russian Federation economics during crisis and post-crisis period until 2015. Modeling of additional labor force demand with regard for crisis processes in Russian economics was implemented by formalization of factors that influence labor force dynamics. The verification of projection evaluation of additional labor force demand based on 2009 crisis monitoring data and conditions of dismissed labor force back up during the post-crisis period.     

Elasticity of demand for relative petroleum inventory in the short run

To better understand petroleum markets, the authors established the importance of the deviation of inventory levels away from a normal level, where the normal level is comprised of seasonal movement and a general trend. Since supply and demand for petroleum are less elastic to price in the short run than is inventory, it is this deviation or relative inventory level that plays the role of absorbing unexpected shifts in demand and supply. They demonstrated theoretically that the demand for relative inventory must be negatively related to price. They estimated the relative inventory levels and associated short-run price elasticity for several OECD countries and groups of countries, and found that short-run price elasticity of demand for relative inventory is negative and statistically significant, supporting the theoretical arguments.This work is partially sponsored by the Office of Strategic Petroleum Reserve, U.S. Department of Energy, and was presented at the Fifty-Second International Atlantic Economic Conference, Paris, France, March 2002.     

The impact of relative prices on tourism demand for Mauritius: An empirical analysis

The present study assesses the impact of relative prices on tourism flows in Mauritius. To account for dynamism in tourism flows modelling, a dynamic time series analysis – namely the vector autoregressive model – is employed. The results show that relative price measures have a long-run impact on international tourism flows, indicating that tourists are sensitive to price levels. The relative average cost in the different competing destinations is also reported to be positive and significant, indicating that the impact of relative price changes in foreign destinations competing with Mauritius tourism matters; thus indicating a certain degree of substitutability between Mauritian and its regional competitors’ tourism. Tourism infrastructure, income in country of origin and the island's level of development are confirmed to be key factors in the tourist selection decision. Finally, overall, short-run estimates confirm the above results.     

Black-white wage differential: The relative importance of human capital and labor market structure

This article uses the decomposition analysis developed by Neumark and the 1987 CPS data to investigate the relative importance of human capital and labor market structure in explaining the observed wage differential between white males and blacks (both male and female). We find that labor market structure, as opposed to differences in human capital, explains a relatively large portion of the wage gap between white males and blacks. In addition to blacks and whites being paid different wages for the same work, they are also given unequal opportunities. This means that narrowing the human capital gap between the races will not be enough to close the wage gap, as argued by human capital theorists. It is equally important to pursue policies that provide access to higher paying jobs and industries for blacks.     

Relationship regarding the demand for labor between domestic temporary and foreign workers: Korean case

With the progress of globalization, South Korea, one of the emerging industrial countries, has recently witnessed a sharp increase in the number of enterprises that employ foreigners. However, there are only a limited number of studies on the influence that such an increase has had on the labor market in the Republic of Korea. Thus, using ‘Workplace Panel Survey’ data surveyed by the Korea Labor Institute (KLI), this paper examines the relationship concerning the labor demand of an establishment between domestic temporary and foreign workers. Analysis using a bivariate Tobit model shows that a typical Korean firm attempts to employ domestic temporary and foreign workers simultaneously. Further, the empirical analysis found that any establishment that is relatively newly established and has difficulty in recruiting domestic workers hires foreign workers, but there is no evidence that establishments hire foreign workers rather than domestic temporary workers to save on the production cost.