lecture8labormarketanalysis(宏观经济学(南开大学,龚刚)

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1、MacroeconomicsLecture8LaborMarketAnalysisI.IntroductionTheobjectivetostudyhowemploymentandthusunemploymentisdeterminedinthelabormarket.II.TheNaturalRateofUnemployment(NAIRU)ThenaturalrateofunemploymentItistheunemploymentrateatwhichtheeconomyisatequilibrium(oratitsgeneralstate).Som

2、etimes,itisalsocalledtheNAIRU,standingfortheUnemploymentofNon-AcceleratingInflationRate.II.TheNaturalRateofUnemployment(NAIRU)Thenaturalrateofunemployment(continued)AssociatedwithNAIRUisthenaturallevelofemploymentandthenaturallevelofoutput(mayalsocalledthefull-employmentoutput).As

3、sociatedwithNAIRU,thereisalsoanaturalrateofgrowth.II.TheNaturalRateofUnemployment(NAIRU)EmpiricNAIRUU.S.EuropeanChinaII.TheNaturalRateofUnemployment(NAIRU)TheImportanceofNAIRU.Generally,itistheobjectiveagovernmentshouldpursue.Inotherwords,agovernmentmaynotconsiderunemploymentasbei

4、ngaproblemiftheunemploymentrateisequaltoorbelowitsnaturalrate.II.TheNaturalRateofUnemployment(NAIRU)ThedeterminationofNAIRUGenerally,itisbelievedtobedeterminedbytheinstitutionalfactorssuchasthewelfarepolicyofthegovernmentthestructuralofinformationtransmissiontheindustryconcentrati

5、onthepoweroflaborunionOthersHowaboutinChina?III.NeoclassicalTheoryofEmploymentEmploymentsupplydeterminedbythehousehold’soptimizationdecisionregardingthechoiceofconsumptionandleisureThisdecisionproblemgivesrisetothefollowingsupplycurveofemployment.III.NeoclassicalTheoryofEmployment

6、Employmentsupply(continued)LsW/PIII.NeoclassicalTheoryofEmploymentDemandforemploymentdeterminedbyfirm’sproductiondecision(optimization).Optimizationcondition:W=MPL（Ld，…)fromthisoptimizationcondition,wecanderivedemandcurveforemployment.III.NeoclassicalTheoryofEmploymentDemandforemp

7、loyment(continued)Forexample,iftheproductionfunctionisintheformofCobb-Dauglas:TheoptimizationconditioncanbewrittenasW=Y/Ld(A)Ld=Y/WIII.NeoclassicalTheoryofEmploymentDemandforemployment(continued)III.NeoclassicalTheoryofEmploymentDemandforemployment(continued)Implication:Foranygi

8、venscaleofoutput,aslongastherealw