A Model of Dual Labor Markets When Product Demand is Uncertain PDF Download
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Author: James B. Rebitzer
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
Dual labor market theory is an attempt to understand observed variation in wages and job quality. The theory argues that market processes tend to produce "primary" jobs characterized by high wages and longjob tenure, and "contingent" (or "secondary") jobs that typically offer low wages and short tenure. The key feature distinguishing dual labor market theory from such alternative explanations as human capital theory or the theory of compensating wage differentials, is the nature of the labor market equilibrium. In dual labor market theory, equilibrium is characterized by an excess supply of qualified workers to primary jobs. Mobility between contingent and primary jobs will therefore be limited, and "good" workers may be stuck in "bad" jobs.
Author: James B. Rebitzer
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
Dual labor market theory is an attempt to understand observed variation in wages and job quality. The theory argues that market processes tend to produce "primary" jobs characterized by high wages and longjob tenure, and "contingent" (or "secondary") jobs that typically offer low wages and short tenure. The key feature distinguishing dual labor market theory from such alternative explanations as human capital theory or the theory of compensating wage differentials, is the nature of the labor market equilibrium. In dual labor market theory, equilibrium is characterized by an excess supply of qualified workers to primary jobs. Mobility between contingent and primary jobs will therefore be limited, and "good" workers may be stuck in "bad" jobs.
Author: William T. Dickens
Publisher:
ISBN:
Category : Employment (Economic theory)
Languages : en
Pages : 48
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Book Description
Despite substantial differences in their views of the appropriate policy response to the existence of poverty, neither the proponents of dual market theory nor its critics have proposed potentially conclusive tests of the dual market hypothesis. This paper presents a test of the two central propositions of dual market theory -- 1) the existence of two distinct labor markets with different wage setting mechanisms and 2) the existence of barriers to mobility between the labor markets. We find considerable support for both hypothesis. Estimation of a switching model of wage determination with unknown regimes yields two distinct wage equations. The one which most workers are associated with closely resembles the standard human capital regression with significant returns to education and experience. The other equation is flat with no returns to human capital. These two equations resemble the predictions of dual market theory for the "primary" and "secondary" markets respectively. Further, we present evidence that(at least) some non-white workers are involuntarily confined to the secondary market. This crowding of minority workers into the low wage labor market accounts for a substantial portion of white/non-white wage differences. We interpret these results as providing empirical support for the dual market hypothesis and for recent theoretical work on efficiency wagemodels. In addition, combining the efficiency wage argument with the observation that much of the white/non-white wage difference is explained by the exclusion of non-whites from the primary sector suggests an explanation for the persistance of wage differences
Author: William T. Dickens
Publisher:
ISBN:
Category :
Languages : en
Pages : 38
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Book Description
Despite substantial differences in their views of the appropriate policy response to the existence of poverty, neither the proponents of dual market theory nor its critics have proposed potentially conclusive tests of the dual market hypothesis.This paper presents a test of the two central propositions of dual market theory -- 1) the existence of two distinct labor markets with different wage setting mechanisms and 2) the existence of barriers to mobility between the labor markets. We find considerable support for both hypothesis. Estimation of a switching model of wage determination with unknown regimes yields two distinct wage equations. The one which most workers are associated with closely resembles the standard human capital regression with significant returns to education and experience. The other equation is flat with no returns to human capital. These two equations resemble the predictions of dual market theory for the quot;primaryquot; and quot;secondaryquot; markets respectively. Further, we present evidence that(at least) some non-white workers are involuntarily confined to the secondary market. This crowding of minority workers into the low wage labor market accounts for a substantial portion of white/non-white wage differences. We interpret these results as providing empirical support for the dual market hypothesis and for recent theoretical work on efficiency wagemodels. In addition, combining the efficiency wage argument with the observation that much of the white/non-white wage difference is explained by the exclusion of non-whites from the primary sector suggests an explanation for the persistance of wage differences.
Author: William A. Darity, Jr.
Publisher: Springer Science & Business Media
ISBN: 940112938X
Category : Business & Economics
Languages : en
Pages : 307
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Book Description
William Darity, Jr. In 1984 the Kluwer series in Modern Economic Thought, under the editorial direction of Warren Samuels, brought out a book under my editorship entitled Labor Economics: Modern Views. It consisted of a series of essays and commentaries that sought, in a critical fashion, to assess the state of the art in the field of labor economics with respect to several themes. These included methodology versus practice, the analysis of discrimination by gender and race, the phenomenon of persistent racial differences in un employment exposure, occupational safety and health regulation, dual versus segmented labor markets, and the remnants of the Phillips curve trade-off between unemployment and inflation. Nearly a decade later I was approached by Warren Samuels and Kluwer about editing a new book that would again address where things stand in labor economics. In proceeding with the development of this current book I was a struck by the extent to which the research thrust that was apparent in the early 1980s remains intact as we move toward the 21st century. The vast majority of scholarship in the labor subfield is dominated by the methodological orientation of applied neoclassical microeconomics, supplemented by incursions from the themes that occupy the so-called "pure theorists," particularly of the game theoretic variety.
Author: Kazuhiro Arai
Publisher:
ISBN:
Category : Cooperation
Languages : en
Pages : 40
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Author: Kazuhiro Arai
Publisher:
ISBN:
Category : Industries
Languages : en
Pages : 70
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Book Description
Author: Gilles Saint-Paul
Publisher: MIT Press
ISBN: 9780262193764
Category : Business & Economics
Languages : en
Pages : 248
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Book Description
Uses theoretical models to analyse the macroeconomic implications of the dual labour market. Includes an introduction to the techniques of dynamic programming and the matching function.
Author: Samuel Rosenberg
Publisher:
ISBN:
Category : Employment (Economic theory)
Languages : en
Pages : 398
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Book Description
Author: Michael Huberman
Publisher: Cambridge University Press
ISBN: 9780521561518
Category : Business & Economics
Languages : en
Pages : 252
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Book Description
At the outset of the industrial revolution the Lancashire labour market was a model of thoroughgoing competition. Wages adjusted quickly and smoothly to changes in the demand for and supply of labour. Within two generations, however, workers and firms had retreated from the market. Instead of busting wages, firms paid fixed rates; instead of breaking ties on short notice, workers sought longer-term associations. Social norms - doing the right thing - protected and preserved the fresh labour market arrangements. This book explains the causes and effects of changes in the labour market in the context of developments in labour economics and fresh research in social and economic history.
Author: Olivier Blanchard
Publisher: MIT Press
ISBN: 9780262521840
Category : Business & Economics
Languages : en
Pages : 388
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Book Description
This annual is designed to stimulate research on problems in applied economics, to bring frontier theoretical developments to a wider audience, and to accelerate the interaction between analytical and empirical research in macroeconomics
