The Political Economy of the 'Minimum-Wage Institution' in an Internationally Integrated Market PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download The Political Economy of the 'Minimum-Wage Institution' in an Internationally Integrated Market PDF full book. Access full book title The Political Economy of the 'Minimum-Wage Institution' in an Internationally Integrated Market by Emmanuel Petrakis. Download full books in PDF and EPUB format.
Author: Emmanuel Petrakis Publisher: ISBN: Category : Languages : en Pages : 0
Book Description
The paper explores the political economy of the 'minimum-wage institution (MWI)' in an internationally integrated product market. The authors consider a two-sector Economic Union (EU) with a perfectly competitive agricultural sector and a unionized oligopolistic manufacturing sector in which there exist productivity asymmetries across firms. It is shown that efficient firms have an incentive to strategically opt for intercountry minimum-wage agreements high enough to raise their inefficient rivals' costs and thus gain business in equilibrium. The unions of workers in all countries also find these agreements in their best interest. As a consequence, the MWI may emerge as the equilibrium institutional resolution of alternative political processes (i.e., an EU-wide referendum or special-interest politics), despite its negative effect on aggregate employment.
Author: Emmanuel Petrakis Publisher: ISBN: Category : Languages : en Pages : 0
Book Description
The paper explores the political economy of the 'minimum-wage institution (MWI)' in an internationally integrated product market. The authors consider a two-sector Economic Union (EU) with a perfectly competitive agricultural sector and a unionized oligopolistic manufacturing sector in which there exist productivity asymmetries across firms. It is shown that efficient firms have an incentive to strategically opt for intercountry minimum-wage agreements high enough to raise their inefficient rivals' costs and thus gain business in equilibrium. The unions of workers in all countries also find these agreements in their best interest. As a consequence, the MWI may emerge as the equilibrium institutional resolution of alternative political processes (i.e., an EU-wide referendum or special-interest politics), despite its negative effect on aggregate employment.
Author: Jerold L. Waltman Publisher: University of Illinois Press ISBN: 9780252025457 Category : Business & Economics Languages : en Pages : 228
Book Description
The minimum wage as a value of civic republicanism The minimum wage appears to be a standard economic regulatory measure, yet a politics of symbolism more than anything else defines the political contests that periodically erupt over it. Detractors abhor its corruption of market principles, while supporters see it as a measure of society's symbolic commitment to the poor. Tracing the history of the minimum wage and exposing its inherent contradictions as a political issue, Jerold Waltman proposes an alternative to the economic arguments that now dominate debates over it. Citing overwhelming public support for the minimum wage as evidence of an enduring civic consciousness and humanitarianism, Waltman advocates recasting the discussion in terms of a political economy of citizenship. Such a perspective would focus on the communal value of work, the need for citizens to have a stake in the community, and the effects of economic inequality on the bonds of common citizenship. Positioning the minimum wage as a fulcrum for the most basic conflict underlying America's unique combination of democracy and a market economy, The Politics of the Minimum Wage shows how a defense of the minimum wage built on a communal sense of responsibility rests on a strong tradition of civic republicanism and strengthens the hope for a truly democratic society.
Author: INTERNATIONAL LABOUR OFFICE. Publisher: ISBN: 9789220319482 Category : Languages : en Pages : 0
Book Description
This ILO flagship report examines the evolution of real wages around the world, giving a unique picture of wage trends globally and by region. The 2020-21 edition analyses the relationship of minimum wages and inequality, as well as the wage impacts of the COVID-19 crisis. The 2020-21 edition also reviews minimum wage systems across the world and identifies the conditions under which minimum wages can reduce inequality. The report presents comprehensive data on levels of minimum wages, their effectiveness, and the number and characteristics of workers paid at or below the minimum. The report highlights how adequate minimum wages, statutory or negotiated, can play a key role in a human-centred recovery from the crisis
Author: Engelbert Stockhammer Publisher: Springer ISBN: 1137357932 Category : Business & Economics Languages : en Pages : 329
Book Description
This volume seeks to go beyond the microeconomic view of wages as a cost having negative consequences on a given firm, to consider the positive macroeconomic dynamics associated with wages as a major component of aggregate demand.
Author: Janine Berg Publisher: Edward Elgar Publishing ISBN: 1784712108 Category : Business & Economics Languages : en Pages : 430
Book Description
Labour market institutions, including collective bargaining, the regulation of employment contracts and social protection policies, are instrumental for improving the well-being of workers, their families and society. In many countries, these instituti
Author: Mr.Romain A Duval Publisher: International Monetary Fund ISBN: 1498313264 Category : Business & Economics Languages : en Pages : 58
Book Description
This paper discusses theoretical aspects and evidences related to designing labor market institutions in emerging market and developing economies. This note reviews the state of theory and evidence on the design of labor market institutions in a developing economy context and then reviews its consistency with actual labor market advice in a selected set of emerging and developing economies. The focus is mainly on three broad sets of institutions that matter for both workers’ protection and labor market efficiency: employment protection, unemployment insurance and social assistance, minimum wages and collective bargaining. Text mining techniques are used to identify IMF recommendations in these areas in Article IV Reports for 30 emerging and frontier economies over 2005–2016. This note has provided a critical review of the literature on the design of labor market institutions in emerging and developing market economies, and benchmarked the advice featured in IMF recommendations for 30 emerging market and frontier economies against the tentative conclusions from the literature.
Author: Karl Polanyi Publisher: Penguin Classics ISBN: 9780241685556 Category : Business & Economics Languages : en Pages : 0
Book Description
'One of the most powerful books in the social sciences ever written. ... A must-read' Thomas Piketty 'The twentieth century's most prophetic critic of capitalism' Prospect Karl Polanyi's landmark 1944 work is one of the earliest and most powerful critiques of unregulated markets. Tracing the history of capitalism from the great transformation of the industrial revolution onwards, he shows that there has been nothing 'natural' about the market state. Instead of reducing human relations and our environment to mere commodities, the economy must always be embedded in civil society. Describing the 'avalanche of social dislocation' of his time, Polanyi's hugely influential work is a passionate call to protect our common humanity. 'Polanyi's vision for an alternative economy re-embedded in politics and social relations offers a refreshing alternative' Guardian 'Polanyi exposes the myth of the free market' Joseph Stiglitz With a new introduction by Gareth Dale
Author: Dani Rodrik Publisher: OUP Oxford ISBN: 0191634255 Category : Political Science Languages : en Pages : 442
Book Description
For a century, economists have driven forward the cause of globalization in financial institutions, labour markets, and trade. Yet there have been consistent warning signs that a global economy and free trade might not always be advantageous. Where are the pressure points? What could be done about them? Dani Rodrik examines the back-story from its seventeenth-century origins through the milestones of the gold standard, the Bretton Woods Agreement, and the Washington Consensus, to the present day. Although economic globalization has enabled unprecedented levels of prosperity in advanced countries and has been a boon to hundreds of millions of poor workers in China and elsewhere in Asia, it is a concept that rests on shaky pillars, he contends. Its long-term sustainability is not a given. The heart of Rodrik’s argument is a fundamental 'trilemma': that we cannot simultaneously pursue democracy, national self-determination, and economic globalization. Give too much power to governments, and you have protectionism. Give markets too much freedom, and you have an unstable world economy with little social and political support from those it is supposed to help. Rodrik argues for smart globalization, not maximum globalization.
Author: Tito Boeri Publisher: Princeton University Press ISBN: 0691158932 Category : Business & Economics Languages : en Pages : 464
Book Description
Most labor economics textbooks pay little attention to actual labor markets, taking as reference a perfectly competitive market in which losing a job is not a big deal. The Economics of Imperfect Labor Markets is the only textbook to focus on imperfect labor markets and to provide a systematic framework for analyzing how labor market institutions operate. This expanded, updated, and thoroughly revised second edition includes a new chapter on labor-market discrimination; quantitative examples; data and programming files enabling users to replicate key results of the literature; exercises at the end of each chapter; and expanded technical appendixes. The Economics of Imperfect Labor Markets examines the many institutions that affect the behavior of workers and employers in imperfect labor markets. These include minimum wages, employment protection legislation, unemployment benefits, active labor market policies, working-time regulations, family policies, equal opportunity legislation, collective bargaining, early retirement programs, education and migration policies, payroll taxes, and employment-conditional incentives. Written for advanced undergraduates and beginning graduate students, the book carefully defines and measures these institutions to accurately characterize their effects, and discusses how these institutions are today being changed by political and economic forces. Expanded, thoroughly revised second edition New chapter on labor-market discrimination New quantitative examples New data sets enabling users to replicate key results of the literature New end-of-chapter exercises Expanded technical appendixes Unique focus on institutions in imperfect labor markets Integrated framework and systematic coverage Self-contained chapters on each of the most important labor-market institutions
Author: Emmanuel Petrakis
Author: Emmanuel Petrakis
Author: Deepak Lal
Author: Jerold L. Waltman
Author: INTERNATIONAL LABOUR OFFICE.
Author: Engelbert Stockhammer
Author: Janine Berg
Author: Mr.Romain A Duval
Author: Karl Polanyi
Author: Dani Rodrik
Author: Tito Boeri