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U. S. labor supply and demand in the long run

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  • Dale W. Jorgenson
  • Richard J. Goettle
  • Mun S. Ho
  • Daniel T. Slesnick
  • Peter J. Wilcoxen

Abstract

In this paper we model U.S. labor supply and demand in considerable detail in order to capture the enormous heterogeneity of the labor force and its evolution over the next 25 years. We represent labor supplies for a large number of demographic groups as responses to prices of leisure and consumption goods and services. The price of leisure is an after-tax wage rate, while the final prices of goods and services reflect the supply prices of the industries that produce them. By including demographic characteristics among the determinants of household preferences, we incorporate the expected demographic transition into our long-run projections of the U.S. labor market.

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File URL: http://www.bostonfed.org/economic/conf/conf52/conf52f.pdf
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This book is provided by Federal Reserve Bank of Boston in its series Monograph with number 52 and published in 2007.

Handle: RePEc:fip:fedbmo:2007lsaditl

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Keywords: Labor supply ; Labor market;

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  1. Dale W. Jorgenson & Mun S. Ho & Kevin J. Stiroh, 2005. "Productivity, Volume 3: Information Technology and the American Growth Resurgence," MIT Press Books, The MIT Press, edition 1, volume 3, number 0262101114, December.
  2. Dale Jorgenson & Mun Ho & Jon Samuels & Kevin Stiroh, 2007. "Industry Origins of the American Productivity Resurgence," Economic Systems Research, Taylor & Francis Journals, vol. 19(3), pages 229-252.
  3. Dale W. Jorgenson, 1998. "Growth, Volume 2: Energy, the Environment, and Economic Growth," MIT Press Books, The MIT Press, edition 1, volume 2, number 0262100746, December.
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