Yoram Weiss

Yoram Weiss is Professor of Economics at Tel-Aviv University.

  • Immigration and Labor Market Mobility in Israel, 1990 to 2009

    Immigration and Labor Market Mobility in Israel, 1990 to 2009

    Sarit Cohen Goldner, Zvi Eckstein, and Yoram Weiss

    A study of the labor market integration of highly skilled Soviet immigrants to Israel that formulates dynamic models of job search and human capital investment.

    After the collapse of the Soviet Union in 1989, Soviet Jews emigrated in large numbers to Israel. Over the next ten years, Israel absorbed approximately 900,000 immigrants from the former Soviet Union, an influx that equaled about twenty percent of the Israeli population. Most of these new immigrants of working age were college-educated and highly skilled. Once in Israel, they were eligible for a generous package of benefits, including housing subsidies, Hebrew language training, and vocational education. This episode provides a natural experiment for testing the consequences of a large immigration inflow of skilled workers. This book provides a detailed analysis of the gradual process of occupational upgrading of immigrants and the associated rise in their wages.

    Based on their analysis, the authors conclude that even a very large and unanticipated wave of immigration can be integrated within the local labor market without any significant long-term adverse economic effect on natives. The small effect on wages and employment of natives is explained by the capital inflows into Israel and the gradual entry of immigrants into high-skill jobs as they invest in local human capital. An important contribution of the book to the immigration literature is the formulation and estimation of stochastic dynamic models that combine job search with investment in human capital and the analysis of alternative government policies within this framework.

    • Hardcover $9.75 £7.99
    • Paperback $35.00 £28.00
  • Optimal Pricing, Inflation, and the Cost of Price Adjustment

    Optimal Pricing, Inflation, and the Cost of Price Adjustment

    Eytan Sheshinski and Yoram Weiss

    These collected articles constitute what is perhaps the definitive study of pricing models under inflation, providing a solid basis for further research on this elusive question.

    What are the real effects of inflation? These collected articles constitute what is perhaps the definitive study of pricing models under inflation, providing a solid basis for further research on this elusive question. Covering a broad range of theory and applications by well-known microeconomists, the eighteen contributions evaluate the effects of inflation on aggregate output and on welfare and reveal the scope of recent efforts to explicitly incorporate frictions in economic models. A basic building block common to most of the essays in this volume is the observation that individual firms change nominal prices intermittently. The frequency and size of nominal price changes are influenced by the cost of price adjustment and changes in the economic environment, production costs, market demand, market structure, and most important, inflation. Thus the degree of nominal rigidity is influenced by the economic environment, and in a dynamic context. Two introductory essays survey the empirical studies of pricing policies by individual firms and the theoretical efforts to integrate the nominal rigidities at the micro level into macro relationships. The essays that follow treat the general problem of optimal dynamic adjustment in the presence of convex costs of adjustment, include applications of the inventory models to the case of nominal price adjustment by an individual firm, address the question of aggregation, introduce active search by consumers, and provide empirical analysis of nominal price rigidities.

    • Hardcover $80.00 £65.00