Three essays on macro labor economics
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This dissertation explores several issues on labor market from the macro perspective. Chapter 2 develops an extended version of Diamond-Mortensen-Pissarides model to understand the sources of disparities existed in U.S. labor market. Chapter 3 studies the evolution of labor market fundamentals in the last 4 decades and how they have impacted the GDP growth and divergence/convergence of gender/racial gaps. Chapter 4 focuses on the bargaining power of U.S. workers and builds a theoretical framework to explain the recent declining trend of U.S. labor compensation share. Chapter 5 concludes.