Labor shortage: Crisis or opportunity?

I. Denisova and M. Kartseva
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I. Denisova: New Economic School (NES), Moscow, Russia
M. Kartseva: Russian Presidential Academy of National Economy and Public Administration, Moscow, Russia

Journal of the New Economic Association, 2024, vol. 65, issue 4, 259-266

Abstract: The paper discusses the labor shortage and wage costs increase reported by the Russian enterprises. Is a personnel shortage and wage growth always a negative sign for the economy? The ongoing rise in the cost of labor can become a window of opportunity, pushing enterprises to improve technology and increase total factor productivity. The empirical analysis based on the late microdata from a survey of Russian enterprises shows that a signifi cant portion of enterprises are expanding under the current increase in the relative price of labor, which prompts for the existence of a window of opportunity.

Keywords: labor market; vacancies; labor shortage; Russia (search for similar items in EconPapers)
JEL-codes: C5 J23 J31 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:nea:journl:y:2024:i:65:p:259-266

DOI: 10.31737/22212264_2024_4_259-266

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