Is There Evidence for a Marginalist Demand for Labour?

Thomas Michl

Cambridge Journal of Economics, 1987, vol. 11, issue 4, 361-73

Abstract: This paper presents estimates of the fixed-output elasticity of demand for production worker hours in U.S. manufacturing tha t are unsupportive of the neoclassical theory of labor demand. Evalua ting the elasticity of labor demand from the coefficient on product w ages in an employment function, it is shown that the consensus findin g of significant inverse wage-employment relationship at given output levels is not robust with respect to alternative price and output da ta or a specification of the employment equation which allows for dec lining rates of technical progress. Copyright 1987 by Oxford University Press.

Date: 1987
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