Author: Christopher OtrokPublisher:
ISBN:
Category :
Languages : en
Pages :
Book Description
On the Cyclicality of Real Wages and Wage Differentials
Cyclical Patterns of Real Wages and Employment
Author: Donggyun ShinWage Differentials: An International Comparison
Author: Toshiaki TachibanakiPublisher: Springer
ISBN: 1349262811
Category : Business & Economics
Languages : en
Pages : 385
Book Description
Wages are a vital economic variable in their influence on employment and unemployment and as the main source of personal income, affecting both living standards and labour incentives. Wage determination is studied here in an international perspective, using a common theoretical framework and statistical method through the individual country chapters to reveal similarities and differences between Japan, South Korea, the United States, Canada, Australia, the United Kingdom, Germany and France.
The Relation Between Skill Levels and the Cyclical Variability of Employment, Hours, and Wages
Author: Mr.Eswar PrasadPublisher: International Monetary Fund
ISBN: 1451974620
Category : Business & Economics
Languages : en
Pages : 38
Book Description
This paper uses micro panel data to examine differences in the cyclical variability of employment, hours, and real wages for skilled and unskilled workers. Contrary to conventional wisdom, we find that, at the aggregate level, skilled and unskilled workers are subject to essentially the same degree of cyclical variation in wages. However, important differences emerge in the patterns of employment and hours variation for skilled versus unskilled workers, especially when a college degree is used as a proxy for skills. We find that the quality of labor input per manhour tends to rise in recessions, thereby inducing a countercyclical bias in aggregate measures of the real wage. We also find substantial differences across industries in the cyclical variation of employment, hours, and wage differentials, which we interpret as indicative of important inter-industry differences in labor contracting.
A Study of Cyclical Wage Flexibility Using Disaggregated Data
Author: Jane Elizabeth MatherPublisher:
ISBN:
Category :
Languages : en
Pages : 280
Book Description
Employment and the Great Recession
Author: Mr.Bas B. BakkerPublisher: International Monetary Fund
ISBN: 151350410X
Category : Business & Economics
Languages : en
Pages : 60
Book Description
This paper argues that the sharp increase in unemployment in a number of advanced countries during the Great Recession was not just cyclical (the result of a lack of aggregate demand); the degree of adjustment of real wages and the impact this had on labor productivity also played a role. In many countries, post-2007 employment losses were modest, as real wages adjusted when the economy slowed down. But in some countries real wage growth stayed too high for too long. The result was large-scale labor shedding, which boosted labor productivity but also contributed to a sharp rise in unemployment. In this context, the paper discusses the different experiences of the UK (where employment increased) and Spain (where it fell sharply), and finds that almost two thirds of the employment losses in Spain resulted from the failure of real wages to adjust adequately.
The Race between Education and Technology
Author: Claudia GoldinPublisher: Harvard University Press
ISBN: 0674037731
Category : Business & Economics
Languages : en
Pages : 497
Book Description
This book provides a careful historical analysis of the co-evolution of educational attainment and the wage structure in the United States through the twentieth century. The authors propose that the twentieth century was not only the American Century but also the Human Capital Century. That is, the American educational system is what made America the richest nation in the world. Its educational system had always been less elite than that of most European nations. By 1900 the U.S. had begun to educate its masses at the secondary level, not just in the primary schools that had remarkable success in the nineteenth century. The book argues that technological change, education, and inequality have been involved in a kind of race. During the first eight decades of the twentieth century, the increase of educated workers was higher than the demand for them. This had the effect of boosting income for most people and lowering inequality. However, the reverse has been true since about 1980. This educational slowdown was accompanied by rising inequality. The authors discuss the complex reasons for this, and what might be done to ameliorate it.
A Theory of Inter-industry Wage Differentials
Author: Julio RotembergPublisher:
ISBN:
Category : Wages
Languages : en
Pages : 54
Book Description
Permanent Differences in Unemployment Rates and Permanent Wage Differentials
Author: James D. AdamsPublisher:
ISBN:
Category : Unemployed
Languages : en
Pages : 156
Book Description
The Structure of Wages
Author: Edward P. LazearPublisher: University of Chicago Press
ISBN: 0226470512
Category : Business & Economics
Languages : en
Pages : 473
Book Description
The distribution of income, the rate of pay raises, and the mobility of employees is crucial to understanding labor economics. Although research abounds on the distribution of wages across individuals in the economy, wage differentials within firms remain a mystery to economists. The first effort to examine linked employer-employee data across countries, The Structure of Wages:An International Comparison analyzes labor trends and their institutional background in the United States and eight European countries. A distinguished team of contributors reveal how a rising wage variance rewards star employees at a higher rate than ever before, how talent becomes concentrated in a few firms over time, and how outside market conditions affect wages in the twenty-first century. From a comparative perspective that examines wage and income differences within and between countries such as Denmark, Italy, and the Netherlands, this volume will be required reading for economists and those working in industrial organization.