Estimation of dynamic labor demand schedules under rational expectations
By: Thomas J. Sargent
Series: Staff report -- # 27; Staff report (Federal Reserve Bank of Minneapolis. Research Department : Online) -- 27.
Publisher: Federal Reserve Bank of Minneapolis
Published: 1978
Place of publication: Minneapolis, Minn.]
Language: eng
Format: [electronic resource] /
Subjects: Labor market; Mathematical models
Description: "A dynamic linear demand schedule for labor is estimated and tested.  The hypothesis of rational expectations and assumptions about the orders of the Markov processes governing technology impose over-identifying restrictions on a vector autoregression for straight-time employment, overtime employment, and the real wage.  The model is estimated by the full information maximum likelihood method.  The model is used as a vehicle for re-examining some of the paradoxical cyclical behavior of real wages described in the famous Dunlop-Tarshis-Keynes exchange"--Federal Reserve Bank of Minneapolis web site.
Notes: Title from PDF file as viewed on 10/12/2007.

Includes bibliographical references.

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Mode of access: World Wide Web.