Empirical Essays on Efficiency Wage Models of the Labour Market PDF Download
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Author: Maarten G. Stegwee
Publisher:
ISBN:
Category : Efficiency wage theory
Languages : en
Pages : 370
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Book Description
Author: Maarten G. Stegwee
Publisher:
ISBN:
Category : Efficiency wage theory
Languages : en
Pages : 370
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Book Description
Author: Yongjian Hu
Publisher: Rozenberg Publishers
ISBN: 9051700008
Category : Labor economics
Languages : en
Pages : 207
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Book Description
Author: George A. Akerlof
Publisher: Cambridge University Press
ISBN: 9780521312844
Category : Business & Economics
Languages : en
Pages : 196
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Book Description
The contributors explore the reasons why involuntary unemployment happens when supply equals demand.
Author: Andrew Weiss
Publisher: Princeton University Press
ISBN: 140086206X
Category : Political Science
Languages : en
Pages : 126
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Book Description
Known for his seminal work in efficiency-wage theory, Andrew Weiss surveys recent research in the field and presents new results. He shows how wage schedules affect the kinds of workers a firm employs and how well those workers perform on the job. Using straightforward examples, he demonstrates how efficiency-wage theory can explain labor market outcomes and guide government policy. There is a separate section of applications to less developed countries. "Efficiency-wage models represent one of the most important developments in economic theory of recent years. They have, at last, provided integrated explanations both of macroeconomic phenomena, such as unemployment and wage rigidity, and microeconomic phenomena, such as wage dispersion. Weiss--one of the pioneers of efficiency-wage theory--provides here a masterful survey, a lucid and systematic and yet critical account of this rapidly developing branch of economics. This book should be required reading in all courses in macroeconomics."--Joseph Stiglitz, Stanford University "Efficiency Wages should be on the bookshelf of all labor and macroeconomists."--Lawrence H. Summers, Harvard University "A splendid monograph ... most readable... I will put it on my reading list."--Partha Dasgupta, Stanford University Originally published in 1991. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.
Author: Mohsen Javdani Haji
Publisher:
ISBN:
Category : Education
Languages : en
Pages : 0
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Book Description
This thesis consists of three empirical essays. The first chapter is focused on the economics of gender, and the other two chapters are focused on the economics of education. A common theme in all these three chapters is studying the outcomes of disadvantaged groups in society, with an eye to policy interventions that could improve these outcomes. The first chapter examines whether women face a glass ceiling in the labour market, which would imply that they are under-represented in high wage regions of the wage distribution. I also measure the extent to which the glass ceiling comes about because women are segregated into lower-paying firms (glass doors), or because they are segregated into lower-paying jobs within firms (within-firm glass ceilings). I find clear evidence that women experience a glass ceiling that is driven mainly by their disproportionate sorting across firm types rather than sorting across jobs within firms. I find no evidence that gender differences in sorting across firms can be accounted for by compensating differentials. However, my results are consistent with predictions of an efficiency wage model where high-paying firms discriminate against females. The second chapter estimates the effect of publicly-disseminated information about school achievement on school choice decisions. We find that students are more likely to leave their school when public information reveals poor school-level performance. Some parents' respond to information soon after it becomes available. Others, including non-English-speaking parents, alter their school choice decisions only in response to information that has been disseminated widely and discussed in the media. Parents in low-income neighbourhoods are most likely to alter their school choice decisions in response to new information. The third chapter measures the extent to which cross-sectional differences in schools' average achievement on standardized tests are due to transitory factors. Test-based measures of school performance are increasingly used to shape education policy, and recent evidence shows that they also affect families' school choice decisions. There are, however, concerns about the precision of these measures. My results suggest that sampling variation and one-time mean reverting shocks are a significant source of cross-sectional variation in schools' mean test scores.
Author: Per Skedinger
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 140
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Book Description
Author: Noah Yaakov Weisberger
Publisher:
ISBN:
Category : Unemployment
Languages : en
Pages : 115
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Book Description
Author: Nail Hassairi
Publisher:
ISBN:
Category : Labor economics
Languages : en
Pages : 132
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Book Description
This dissertation consists of essays studying labor supply empirically through the use of an experimental platform set up on Amazon Mechanical Turk online labor market. The essays contribute to measuring labor supply elasticties; response of effort to pay; and the willingness to pay for job attributes. What these topics have in common is that a) it's extremely hard to estimate these parameters using observational data, b) the parameters estimated from these studies serve as input parameters for macroeconomic models of employment, welfare policy, and tax policy. The notion that increased pay raises productivity, either through sorting or incentives, lies at the heart of the efficiency wage theory. The alternative competitive model also implies a correlation between wages and productivity, however, the causal effect implied is from productivity to pay, that is more productive workers receive higher pay. A conclusive test with the ability to nest both of these hypotheses and rule between them then has to provide a credible evidence of the direction of causality in the wage-productivity relationship. This challenge has so far been unmet in the literature. To provide an unequivocal answer, the first essay in this volume presents findings from a large-scale field experiment conducted on Amazon Mechanical Turk. The findings confirm the intuition behind the efficiency wage theory, demonstrating that increase in pay indeed has a causal effect on productivity; through sorting, and, to a lesser extent, incentives. These findings also suggest that this causalrelationship between pay and productivity is dynamic in nature, weakening over the course of the tenure of a worker. The findings also indicate that heterogeneity in tenure length among workers is correlated with their heterogeneity in response to higher pay. As the competitive model continues to be used as a microeconomic foundation of macroeconomic theories of unemployment, these findings give a vote of confidence to its main alternative - the efficiency wage theory. An integral part of Adam Smith's compensating wage differentials theory is that work- ers trade off between job characteristics and wage. Other than risk of death, however, no job characteristics have consistently been found to affect wages, likely because of problems with self-selection and unobservable job characteristics. The second essay in this volume presents results from the experiments on Mechanical Turk, randomizing offered pay and job characteristics, thereby overcoming both problems. The findings indicate, as predicted by the theoretical model, that increasing job disamenities significantly reduces both likelihood of working and amount of work supplied. Correspondingly, the wage increases necessary to compensate workers for worse job disamenities are substantial. The last essay in this volume estimates extensive and intensive margin labor supply elasticity. Contrary to prior analyses using micro data, the findings indicate that the intensive margin elasticities are more than twice the size of extensive margin elasticities and that both are substantial, even if conditioning on working. Furthermore, using data on all workers in the experiments whether they decide to work on the experiments or not, the elasticities range from 1.2 to 2.9, depending on experiment and specification. These results are consistent with the idea that off-line labor markets are characterized by frictions that lower elasticities and may reverse the ordering of extensive margin and intensive margin elasticities.
Author: Luis A. Riveros
Publisher:
ISBN:
Category : Employment (Economic theory)
Languages : en
Pages : 44
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Book Description
Efficiency wage theory suggests that wages (and hence labor markets) may be unresponsive to typical macroeconomic policies that seek to lower real wages, change resource allocation, and reduce open unemployment. Under this theory, firms will react to macroeconomic shocks by altering employment (laying workers off), not wages.
Author: David Sapsford
Publisher:
ISBN:
Category : Arbejdsmarkedsteori
Languages : en
Pages : 320
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Book Description
This volume of essays attempts to examine and analyze recent developments in economic analysis. The essays cover implicit contract theory, job search model, bargaining theory, profit sharing models, institutionalist perspectives and other relevant issues.
