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Labor Economics Borjas 7th Edition PDF Form

Labor Economics Borjas 7th Edition PDF Form

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in terms of how many people uh choose to choose to work the extensive margin macro evidence in standard models still requires much larger elasticity than microevidence so what is a potential resolution it's labor wedge models or search theoretic models of the labor market which do not make the assumption that we're at the uh at a market clearing equilibrium even in a recession they're basically disequilibrium models which say that something is wrong in the market in a sense that's leading people not to find jobs uh even though there's demand and so it's not purely a choice of workers not to work when there's a recession

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