The bulk of research on labour market conditions in Pakistan has concentrated on the economic activity rate, the number of employed persons or the unemployment rate at a particular point in time (Nasir, 2001). These stock measures of labour market situation are useful from a policy viewpoint as they give a broad indication of the dimension of the problem. For instance, the recent labour force s...

We consider a Rothschild-Stiglitz-Spence labour market model and employ a centralised mechanism to coordinate the efficient matching of workers to firms. This mechanism can be thought of as operated by a recruitment agency, an employment office or head hunter. In a centralised descending-bid, multi-item procurement auction, workers submit wage-bids for each job and are assigned stable jobs as e...

This paper derives a theoretical labour market model for the tradeables sector of a small open economy. Using Greek manufacturing data and applying multivariate cointegrating techniques, two cointegrating vectors are estimated based on the a priori restrictions provided by the theoretical model; a labour demand and a real exchange rate equation, respectively. The short-run estimates of the mode...

This paper presents a review of the literature on overeducation. The paper assesses the consistency of overeducation within the context of a number of theoretical frameworks including Human Capital Theory (HCT) and Assignment Theory. The analysis goes on to discuss the various measurement controversies associated with the study of overeducation in order to provide an assessment of the extent to...

This paper presents a detailed survey of results from current research on the labour market effects of immigration. It argues: 1) that econometric research uniformly finds very small labour market effects of immigration; 2) that labour and trade economists have differed in their interpretation of this finding; and 3) that this difference is driven exclusively by different dimensionality assumpt...

Implicit in many discussions of labour market policy is the assumption that, in the absence of interventions, the operation of the labour market is well-approximated by the perfectly competitive model. The merits or demerits of particular policies is then seen as a trade-off between efficiency and equality. This paper analyses the impact of a variety of policies – the minimum wage, trade unions...