Unemployment in the U.S. Is Falling, So Why Isn’t Pay Rising?

Re:Unemployment in the U.S. Is Falling, So Why Isn’t Pay Ris... by roymurdock on Friday May 19, 2017 @12:29PM (#14377192)

If you are interested in learning how labor markets are taught in macro today, check out these slides from Acemoglu of MIT:

http://economics.mit.edu/files/10284

Labor market models are much more about flows, and frictions to those flows, rather than "static" views of labor supply and demand.

When I was studying econ, I found some of these models and equations to be the most well thought-out and powerful tools presented whereas a lot of the other things I had to learn were toy models or very, very far removed from reality.

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Re:Unemployment in the U.S. Is Falling, So Why Isn’t Pay Ris... by abakker on Friday May 19, 2017 @12:39PM (#14377286)

Thanks - I appreciate the reference. Mankiw's treatment in the intro to econ book that I studied is definitely painful.

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Re:Unemployment in the U.S. Is Falling, So Why Isn’t Pay Ris... by TylerH on Friday May 19, 2017 @03:41PM (#14378787)

A lot of Mankiw's work is like that

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Re:Unemployment in the U.S. Is Falling, So Why Isn’t Pay Ris... by ue_ on Friday May 19, 2017 @03:02PM (#14378467)

Marx's "Wage Labour and Capital" is also a rather short and easily readable work on the Marxian perspective of the labour market.

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