Lecture 8 Labor Market Analysis(宏观经济学(南开大学,龚刚).ppt

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1、MacroeconomicsLecture8LaborMarketAnalysisI.IntroductionTheobjectivetostudyhowemploymentandthusunemploymentisdeterminedinthelabormarket.II.TheNaturalRateofUnemployment(NAIRU)ThenaturalrateofunemploymentItistheunemploymentrateatwhichtheeconomyisatequilibrium(oratits

2、generalstate).Sometimes,itisalsocalledtheNAIRU,standingfortheUnemploymentofNon-AcceleratingInflationRate.II.TheNaturalRateofUnemployment(NAIRU)Thenaturalrateofunemployment(continued)AssociatedwithNAIRUisthenaturallevelofemploymentandthenaturallevelofoutput(mayalso

3、calledthefull-employmentoutput).AssociatedwithNAIRU,thereisalsoanaturalrateofgrowth.II.TheNaturalRateofUnemployment(NAIRU)EmpiricNAIRUU.S.EuropeanChinaII.TheNaturalRateofUnemployment(NAIRU)TheImportanceofNAIRU.Generally,itistheobjectiveagovernmentshouldpursue.Inot

4、herwords,agovernmentmaynotconsiderunemploymentasbeingaproblemiftheunemploymentrateisequaltoorbelowitsnaturalrate.II.TheNaturalRateofUnemployment(NAIRU)ThedeterminationofNAIRUGenerally,itisbelievedtobedeterminedbytheinstitutionalfactorssuchasthewelfarepolicyofthego

5、vernmentthestructuralofinformationtransmissiontheindustryconcentrationthepoweroflaborunionOthersHowaboutinChina?III.NeoclassicalTheoryofEmploymentEmploymentsupplydeterminedbythehousehold’soptimizationdecisionregardingthechoiceofconsumptionandleisureThisdecisionpro

6、blemgivesrisetothefollowingsupplycurveofemployment.III.NeoclassicalTheoryofEmploymentEmploymentsupply(continued)LsW/PIII.NeoclassicalTheoryofEmploymentDemandforemploymentdeterminedbyfirm’sproductiondecision(optimization).Optimizationcondition:W=MPL（Ld，…)fromthisop

7、timizationcondition,wecanderivedemandcurveforemployment.III.NeoclassicalTheoryofEmploymentDemandforemployment(continued)Forexample,iftheproductionfunctionisintheformofCobb-Dauglas:TheoptimizationconditioncanbewrittenasW=Y/Ld(A)Ld=Y/WIII.NeoclassicalTheoryofEmplo

8、ymentDemandforemployment(continued)III.NeoclassicalTheoryofEmploymentDemandforemployment(continued)Implication:Foranygivenscaleofoutput,aslongastherealw