Labor market modeling using a labor supply function of two-arguments. (English. Russian original) Zbl 1298.91100
Cybern. Syst. Anal. 46, No. 5, 699-709 (2010); translation from Kibern. Sist. Anal. 2010, No. 5, 18-30 (2010).
Summary: A two-argument function of individual labor supply is considered. Real wage and unemployment rates are the arguments of this function. Conditions of emergence of direct and inverse relations between these two economic indicators are investigated. This function is used to analyze processes in a competitive and monopsonic labor market. The expediency and conditions are substantiated for the use of the exogenous increase in labor remuneration by increasing minimal wage.
MSC:
| 91B40 | Labor market, contracts (MSC2010) |
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