Author: Valeri Sorolla i Amat
Publisher:
ISBN:
Category :
Languages : en
Pages : 25

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Author: Valeri Sorolla
Publisher:
ISBN:
Category :
Languages : en
Pages :

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Author: Randall E. Eberts
Publisher: Routledge
ISBN: 1315488558
Category : Business & Economics
Languages : en
Pages : 166

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During much of the 1980s, US wage growth has been unexpectedly slow in the face of relatively low unemployment rates and high capacity utilization rates. This collection of papers resulting from the Wage Structure Conference held by the Federal Research Bank of Cleveland, November 1989, helps explain labour market behaviour in that period. The contributors - academic and research economists in labour economics - provide a comprehensive assessment of the current state of the wage-setting process in the US labour market.

Author: Pierre-Richard Agénor
Publisher: International Monetary Fund
ISBN: 1451854781
Category : Business & Economics
Languages : en
Pages : 98

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This paper examines the role of the labor market in the transmission process of adjustment policies in developing countries. It begins by reviewing the recent evidence regarding the functioning of these markets. It then studies the implications of wage inertia, nominal contracts, labor market segmentation, and impediments to labor mobility for stabilization policies. The effect of labor market reforms on economic flexibility and the channels through which labor market imperfections alter the effects of structural adjustment measures are discussed next. The last part of the paper identifies a variety of issues that may require further investigation, such as the link between changes in relative wages and the distributional effects of adjustment policies.

Author: Thiess Büttner
Publisher: Springer Science & Business Media
ISBN: 3642511880
Category : Business & Economics
Languages : en
Pages : 213

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It is dealt with disparities in employment growth, unemployment, and wages between regional labor markets in Germany. First, endogenous formation and growth of industry locations due to agglomeration economies is established as a basic source of disparity in employment. Then, spatial frictions and local wage inflexibility due to central wage bargaining are detected as causes of unemployment disparities. Throughout the book theoretical analysis is combined with rigorous empirical testing using a large set of regional data at district level. In order to gain and robustify empirical results, recent methods in panel econometrics and spatial data analysis are employed. An overview on the extent of key regional labor market disparities in Germany is given. The book enables to assess our current understanding of the role of locational issues in causing those disparities, and thus to understand the basic justification of regional policy.

Author: Richard Jackman
Publisher:
ISBN:
Category : Inflation (Finance)
Languages : en
Pages : 48

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Author: Xavier Raurich
Publisher:
ISBN:
Category :
Languages : en
Pages : 40

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We introduce wage setting via efficiency wages in the neoclassical one-sector growth model to study the growth effects of wage inertia. We compare the dynamic equilibrium of an economy with wage inertia with the equilibrium of an economy without it. We show that wage inertia affects the long run employment rate and that the transitional dynamics of the main economic variables will be different because wages are a state variable when wage inertia is introduced. In particular, we show that the model with wage inertia can explain some growth patterns that cannot be explained when wages are flexible. We also study the growth effects of permanent technological and fiscal policy shocks in these two economies. During the transition, the growth effects of technological shocks obtained when wages exhibit inertia may be the opposite of those obtained when wages are flexible. These technological shocks may have long run effects if there is wage inertia.

Author: Kieran McMorrow
Publisher:
ISBN:
Category : Labor market
Languages : en
Pages : 116

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Recoge: 1.Overview of labour market flexibility - 2.Wage formation process - expectations augmented phillips curve - 3.Labour market adjustment mechanisms - 4.International comparison of overall labour market flexibility - equilibrium unemployment - 5.Policy issues and concluding remarks.

Author: United States. Bureau of Labor Statistics
Publisher:
ISBN:
Category : Government publications
Languages : en
Pages : 24

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Author: Hideyuki Adachi
Publisher:
ISBN: 9789811337277
Category : Econometrics
Languages : en
Pages :

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This volume develops original methods of analyzing biased technological progress in the theory and empirics of economic growth and income distribution. Motivated by sharp increases in wage and income inequalities in the world since the beginning of the new century, many macroeconomists have begun to realize the importance of biased technological changes. However, the comprehensive explanations have not yet appeared. This volume analyzes the effects of factor-biased technological progress on growth and income distribution and shows that long-run trends of the capital-income ratio and capital share of income consistent with Piketty's 2014 empirical results emerge. Incorporating the modified version of induced innovation theory into the standard neoclassical growth model, it also explains the long-run fluctuations of growth and income distribution consistent with the data shown in Piketty. Introducing a wage-setting function, the neoclassical growth model is modified to account for unemployment as well as to examine the dynamics of unemployment and the labor share of income under biased technological progress. Applying a new econometric method to Japanese industrial data, the authors test the key assumptions employed and important results derived in the theoretical part of this book.--