Efficient Employment of Cohorts of Labor in the U.S. Economy: An Illustration of a Method
This paper presents a model for the analysis of efficient labor force participation in the U.S. economy. Ridge regression estimates of the elasticities of cohorts of labor, classified by sex and occupation, are used in conjunction with wage data to illustrate the derivation of efficient allocation o...
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| Main Authors: | , , |
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| Format: | text |
| Language: | English |
| Published: |
Institutional Knowledge at Singapore Management University
1979
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| Subjects: | |
| Online Access: | https://ink.library.smu.edu.sg/sis_research/25 https://ink.library.smu.edu.sg/context/sis_research/article/1024/viewcontent/Efficient_Employment_Labor_Method_1979.pdf |
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| Institution: | Singapore Management University |
| Language: | English |
| Summary: | This paper presents a model for the analysis of efficient labor force participation in the U.S. economy. Ridge regression estimates of the elasticities of cohorts of labor, classified by sex and occupation, are used in conjunction with wage data to illustrate the derivation of efficient allocation of labor cohorts in five economic sectors. These efficient constructs are compared with actual census data for 1960 and 1970. The results, while tentative, show a trend toward more efficient utilization of labor and greater participation by women in the work force. |
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