Wage-Led Growth PDF Download

Author: Engelbert Stockhammer
Publisher: Springer
ISBN: 1137357932
Category : Business & Economics
Languages : en
Pages : 329

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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: Edward P. Lazear
Publisher: University of Chicago Press
ISBN: 0226470512
Category : Business & Economics
Languages : en
Pages : 473

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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.

Author: Dale Mortensen
Publisher: MIT Press
ISBN: 9780262633192
Category : Business & Economics
Languages : en
Pages : 170

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Book Description
A theoretical and empirical examination of wage differentials findsthat traditional theories of competition do not explain why workers with identical skills are paid differently.

Author: Gladys Lopez Acevedo
Publisher: World Bank Publications
ISBN:
Category : Industria manufacturera - Mexico
Languages : en
Pages : 44

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Book Description
The author identifies the determinants of wages and productivity in Mexico over time using national representative linked employer-employee databases from the manufacturing sector. She shows that both employers and employees are benefiting from investments in education, training, work experience, foreign research and development, and openness after the North American Free Trade Agreement (NAFTA). Additional years of schooling have a higher impact on wages and productivity after NAFTA than before. Endogenous training effects are larger for productivity than for wages, suggesting that the employers share the costs and returns to training. The author also finds that investment in human capital magnifies technology-driven productivity gains. By comparing four regions of Mexico-north, center, south, and Mexico City-regional wage and productivity gaps are found to have increased over time.

Author: Tomas Hellebrandt
Publisher: Peterson Institute for International Economics
ISBN: 0881327085
Category : Political Science
Languages : en
Pages : 48

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Book Description
As the United States emerges from the Great Recession, concern is rising nationally over the issues of income inequality, stagnation of workers' wages, and especially the struggles of lower-skilled workers at the -bottom end of the wage scale. While Washington deliberates legislation raising the minimum wage, a number of major American employers—for example, Aetna and Walmart—have begun to voluntarily raise the pay of their own lowest-paid employees. In this collection of essays, economists from the Peterson Institute for International Economics analyze the potential benefits and costs of widespread wage increases, if adopted by a range of US private employers. They make this assessment for the workers, the companies, and for the US economy as a whole, including such an initiative's effects on national competitiveness. These economists conclude that raising the pay of many of the lowest-paid US private-sector workers would not only reduce income inequality but also boost overall productivity growth, with likely minimal effect on employment in the current financial context. "It is possible to profit from paying your employees well…and increasing lower-paid workers' wages is the way forward for the United States," argues Adam S. Posen in his lead essay (reprinted from theFinancial Times). Justin Wolfers and Jan Zilinsky argue that higher wages can encourage low-paid workers to be more productive and loyal to their employers and coworkers, reducing costly job turnover and the need for supervision and training of new workers. Tomas Hellebrandt estimates that if all large private sector corporations in the United States outside of sectors that intensively use low-skilled labor increased wages of their low-paid workers to $16 per hour, the pay of 6.2 percent of the $110 million private-sector workers in the United States would increase on average by 38.6 percent. The direct cost to employers would be $51 billion, only around 0.3 percent of GDP. Jacob Kirkegaard and Tyler Moran explore the experience of employers in other advanced countries, with its implications for international competitiveness, and Michael Jarand assesses the impact of a wage increase on the near-term development of the US macroeconomy. Data disclosure: The data underlying the figures in this analysis are available for download in links listed below.

Author: Adam S. Posen
Publisher: Peterson Institute for International Economics
ISBN: 0881327328
Category : Business & Economics
Languages : en
Pages : 499

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Book Description
Labor productivity growth in the United States and other advanced countries has slowed dramatically since the mid-2000s, a major factor in their economic stagnation and political turmoil. Economists have been debating the causes of the slowdown and possible remedies for some years. Unaddressed in this discussion is what happens if the slowdown is not reversed. In this volume, a dozen renowned scholars analyze the impact of sustained lower productivity growth on public finances, social protection, trade, capital flows, wages, inequality, and, ultimately, politics in the advanced industrial world. They conclude that slow productivity growth could lead to unpredictable and possibly dangerous new problems, aggravating inequality and increasing concentration of market power. Facing Up to Low Productivity Growth also proposes ways that countries can cope with these consequences.

Author: Bryan Passmore Philpott
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 60

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Author: Robert J. Gordon
Publisher: Princeton University Press
ISBN: 1400888956
Category : Business & Economics
Languages : en
Pages : 785

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Book Description
How America's high standard of living came to be and why future growth is under threat In the century after the Civil War, an economic revolution improved the American standard of living in ways previously unimaginable. Electric lighting, indoor plumbing, motor vehicles, air travel, and television transformed households and workplaces. But has that era of unprecedented growth come to an end? Weaving together a vivid narrative, historical anecdotes, and economic analysis, The Rise and Fall of American Growth challenges the view that economic growth will continue unabated, and demonstrates that the life-altering scale of innovations between 1870 and 1970 cannot be repeated. Gordon contends that the nation's productivity growth will be further held back by the headwinds of rising inequality, stagnating education, an aging population, and the rising debt of college students and the federal government, and that we must find new solutions. A critical voice in the most pressing debates of our time, The Rise and Fall of American Growth is at once a tribute to a century of radical change and a harbinger of tougher times to come.

Author: Kalyani Mohanty
Publisher: Discovery Publishing House
ISBN: 9788171412310
Category : Industrial productivity
Languages : en
Pages : 204

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Book Description
Productivity as a criterion for wage fixation in industry necessitates to spread an advanced work culture in the Country and due share from gains of productivity is required to obtain a large trust worthy working class to strengthen the society perceived as an immediate urge of the country. The level of wages in Indian industries is yet to be treated as a satisfier of higher order needs. So the importance of wage study relating to productivity can not be avoided simply a Country like India. It directly affects the wage earners, the employers and the society at large. The book comprises eight chapters in all. It discusses productivity consideration in wage fixation. Besides it also discusses the effectiveness of different bio-partite bodies in fixation of wages in Cement Industry exclusively. The views of the workers and union members have been examined to ascertain the strength of the findings obtained from secondary source in relation to wage fixation and sharing gains of productivity. It is hoped that this book would be useful for academicians and students of Personnel Management & Industrial Relation as well as the students of Labour Economics.

Author: OECD
Publisher: OECD Publishing
ISBN: 9264603980
Category :
Languages : en
Pages : 154

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Book Description
This report presents a comprehensive overview of recent and longer-term trends in productivity levels and growth in OECD countries, accession countries, key partners and some G20 countries.