Related papers: Minimum Wages in Concentrated Labor Markets
In this paper, I introduce a novel decomposition method based on Gaussian mixtures and k-Means clustering, applied to a large Brazilian administrative dataset, to analyze the gender wage gap through the lens of worker-firm interactions…
Inspired by Adam Smith and Friedrich Hayek, many economists have postulated the existence of invisible forces that drive economic markets. These market forces interact in complex ways making it difficult to visualize or understand the…
We investigate how asymmetric information affects equilibrium price formation in an economy with many interacting agents. Motivated by a finite-player model with two populations of asymmetrically informed agents, we study its mean-field…
Surveys are an indispensable source of data for applied economic research; however, their reliance on self-reported information can introduce bias, especially if core variables such as personal income are misreported. To assess the extent…
A monotone function interval is the set of monotone functions that lie pointwise between two fixed monotone functions. We characterize the set of extreme points of monotone function intervals and apply this to a number of economic settings.…
Spatially targeted investment grant schemes are a common tool to support firms in lagging regions. We exploit exogenous variations in Germany's main regional policy instrument (GRW) arriving from institutional reforms to analyse local…
I study the role of minimum wage as an anchor for judgements of the fairness of wages by both human subjects and artificial intelligence (AI). Through surveys of human subjects enrolled in the crowdsourcing platform Prolific.co and queries…
We explore the effects of social influence in a simple market model in which a large number of agents face a binary choice: 'to buy/not to buy' a single unit of a product at a price posted by a single seller (the monopoly case). We consider…
We revisit the classic job-market signaling model of \cite{spence1973job}, introducing profit-seeking schools as intermediaries that design the mapping from candidates' efforts to job-market signals. Each school commits to an attendance fee…
Persistent wealth inequality, where a small fraction of the population accumulates most resources while the majority remains economically vulnerable, is a widespread phenomenon. We investigate its underlying mechanisms using an agent-based…
Blockchain technology, though conceptualized in the early 1990s, only gained practical relevance with Bitcoin's launch in 2009. Recent advancements have demonstrated its transformative potential, particularly in the digital art and global…
Aggregated data obtained from job postings provide powerful insights into labor market demands, and emerging skills, and aid job matching. However, most extraction approaches are supervised and thus need costly and time-consuming…
It is a widely observed phenomenon that wealth is distributed significantly more unequal than wages. In this paper we study this phenomenon using a new extension of P\'olyas urn, modelling wealth growth through wages and capital returns. We…
This paper provides an analysis of the effects of attrition and non-response on employment and wages using the Canadian Survey of Labour and Income Dynamics. We consider a structural model composed of three freely correlated equations for…
We introduce the notion of performative power, which measures the ability of a firm operating an algorithmic system, such as a digital content recommendation platform, to cause change in a population of participants. We relate performative…
We introduce a toy probabilistic model to analyze job-matching processes in recent Japanese labor markets for university graduates by means of statistical physics. We show that the aggregation probability of each company is rewritten by…
Using the Minority Game model we study a broad spectrum of problems of market mechanism. We study the role of different types of agents: producers, speculators as well as noise traders. The central issue here is the information flow :…
We consider an occupation market in which preferences of members are treated as non linear general increasing functions. The arrangement of members is separated into two non over-lapping sets, set of workers and set of firms. We consider…
This paper critically reviews the research on the impact of immigration on employment and wages of natives in wealthy countries--where "natives" includes previous immigrants and their descendants. While written for a non-technical audience,…
We study Stackelberg Equilibria (Bowley optima) in a monopolistic centralized sequential-move insurance market, with a profit-maximizing insurer who sets premia using a distortion premium principle, and a single policyholder who seeks to…