failing to fully control for ethnicity would bias the estimates of the effect of indigenous language skills downwards to reflect on the position of the group. The existing work on the labour-market effects of indigenous languages in Latin America indeed finds...
Skills mismatch is an essential dimension of labour market disequilibrium [53] and significantly affects future equilibrium [54]. The discrepancy between employer demand and workforce supply of soft skills became a central issue in Industry 5.0 [37,43]. This skill gap is already a reality faced ...
Question: Discuss the effect of an increase in the market supply of labour in a perfectly competitive market. Labor Market: The term labor market in economics refers to the platform for the interaction of employers and workers, In the production process of a f...
2.2. Equilibrium decisions To solve for the equilibrium decisions involving F and R and the repayment of the loan, we start with the agent’s decision in period 3 and work backwards in time. Given F and R determined in the first two periods, an agent’s payoff from repaying the loan is...
equilibrium models (DSGE), driven by the search of closed-form solutions derived from linearization around equilibrium conditions (see Stiglitz, 2018, for the latest critique to DSGE models), ABMs are open-ended systems where the notion of coordination substitutes the requirement of equilibrium. More...