The Econometric SocietyEdited by: Guido W. Imbens • Print ISSN: 0012-9682 • Online ISSN: 1468-0262
Econometrica: Jul, 1975, Volume 43, Issue 4
https://doi.org/0012-9682(197507)43:4<757:FPEADF>2.0.CO;2-M
p. 757-770
Kanhaya L. Gupt
This paper examines the determinants of the demand for labor by fourteen two-digit manufacturing industries of India, and in particular the role of factor prices and expectations, to aid understanding of the causes of the low rates of labor absorption in the manufacturing sector. This is done within the framework of neoclassical models of factor demand. A method is suggested for measuring expectations. Our results show that adverse factor prices, long adjustment lags, low output elasticities, and the shift in the industrial structure in favor of the capital goods sector are some of the more important factors responsible for the observed low rates of labor absorption. Finally, some implications of our results for studies relating to labor demand functions in general are discussed.
March 5, 2024
The terms of the Editors of the Econometric Society's three journals end June 30, 2025. We are pleased to announce the incoming Editors and to thank the outgoing Editors for their excellent and continuing service.
Econometrica: Since 2019, Guido Imbens has served as the 14th Editor of Econometrica. On July 1, 2025, Marina Halac will become the Editor.
Quantitative Economics: Stéphane Bonhomme has been the Editor of Quantitative Economics since 2021. His successor will be Bernard Salanié.
Theoretical Economics: The Editor of Theoretical Economics since 2021 has been Simon Board. Taking over for him in July 2025 will be Federico Echenique.
Guido, Stéphane, and Simon have been outstanding Editors. We are grateful to them for the work they have done and will continue to do, and we look forward to further congratulating them next year. We believe Marina, Bernard, and Federico will be outstanding successors and we thank them in advance for their service.
Finally, we are grateful to Larry Samuelson for chairing all three search committees, and we thank the search committee members for their hard and fruitful work:
Econometrica: Christian Dustmann, Lars Hansen, Alessandro Lizzeri, George Mailath, Ariel Pakes, Helene Rey, and Elie Tamer.
QE: Kate Ho, Michael Keane, Felix Kubler, Whitney Newey, and Frank Schorfheide.
TE: Jeff Ely, Johannes Horner, Gilat Levy, Meg Meyer, and Ran Spiegler.
