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Author: Katharine G. Abraham
Publisher:
ISBN:
Category : Labor supply
Languages : en
Pages : 55
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Book Description
The stylized fact that seniority and earnings in a cross-section are positively related, even after controlling for total labor market experience, has served as the basis for theoretical analyses of implicit labor contracts suggesting that workers post bonds in the form of deferred compensation in order to ensure their continued performance at an adequate level. An alternative interpretation is that good workers or workers in good jobs or good matches both earn more throughout the job and have longer job durations. Another stylized fact, that labor market experience and earnings in a cross section are positively related, has been taken as evidence of the importance of general human capital accumulation. An alternative interpretation of this evidence is that workers with more experience have had more time to find good jobs and/or good matches, resulting in higher earnings. Earnings functions are estimated including a measure of the completed duration of jobs in order to distinguish between the competing hypotheses regarding both seniority and experience. These yield three main results. First, workers in longer jobs earn significantly more in every year of the job than do workers in shorter jobs. Second, controlling for completed job duration eliminates most of the apparent return to seniority found in standard cross-section models. Thus, it appears that implicit contracts that provide for workers posting bonds through deferred wage payments are less important than has been believed. Third, for blue collar workers there is evidence thata part of the small observed (cross-sectional) return to labor market experience is due to sorting of workers into better jobs over time. There is no evidence of sorting for white collar workers
Author: Katharine G. Abraham
Publisher:
ISBN:
Category : Labor supply
Languages : en
Pages : 55
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Book Description
The stylized fact that seniority and earnings in a cross-section are positively related, even after controlling for total labor market experience, has served as the basis for theoretical analyses of implicit labor contracts suggesting that workers post bonds in the form of deferred compensation in order to ensure their continued performance at an adequate level. An alternative interpretation is that good workers or workers in good jobs or good matches both earn more throughout the job and have longer job durations. Another stylized fact, that labor market experience and earnings in a cross section are positively related, has been taken as evidence of the importance of general human capital accumulation. An alternative interpretation of this evidence is that workers with more experience have had more time to find good jobs and/or good matches, resulting in higher earnings. Earnings functions are estimated including a measure of the completed duration of jobs in order to distinguish between the competing hypotheses regarding both seniority and experience. These yield three main results. First, workers in longer jobs earn significantly more in every year of the job than do workers in shorter jobs. Second, controlling for completed job duration eliminates most of the apparent return to seniority found in standard cross-section models. Thus, it appears that implicit contracts that provide for workers posting bonds through deferred wage payments are less important than has been believed. Third, for blue collar workers there is evidence thata part of the small observed (cross-sectional) return to labor market experience is due to sorting of workers into better jobs over time. There is no evidence of sorting for white collar workers
Author: Katharine Abraham
Publisher: Forgotten Books
ISBN: 9780666098115
Category : Business & Economics
Languages : en
Pages : 78
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Book Description
Excerpt from Job Duration, Seniority, and Earnings An important stylized fact of the labor market is that workers with longer seniority have higher earnings even after controlling for total labor market experience. The empirical support for this stylized fact is that standard earnings functions estimated using cross-section data produce significant positive seniority coefficients even when a measure of total labor market experience is also included in the regression. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
Author: Kenneth I. Wolpin
Publisher: Psychology Press
ISBN: 9780415269407
Category : Business & Economics
Languages : en
Pages : 112
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Book Description
In the last twenty years there has been an explosion of economic research on labour force dynamics. This book focuses on the methods by which behavioural theories of labour force dynamics have been empirically implemented.
Author: Kenneth Wolpin
Publisher: Routledge
ISBN: 1136459480
Category : Business & Economics
Languages : en
Pages : 112
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Book Description
In the last twenty years there has been an explosion of economic research on labor force dynamics; the movement of individuals between labor force states. This book focuses on the methods by which behavioral theories of labor force dynamics have been empirically implemented. Most attention is paid to the partial equilibrium two-state transitional model of job search behavior. That model is the foundation for much of our thinking about the nature of unemployment at both the individual and aggregate levels. Although the basic formulation has remained the same, approaches to the empirical implementation of such models has changed dramatically.
Author: Stephen Ackermann
Publisher: Springer Science & Business Media
ISBN: 9401578540
Category : Business & Economics
Languages : en
Pages : 221
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Book Description
Author: Eric Alan Hanushek
Publisher: Elsevier
ISBN: 044451399X
Category : Business & Economics
Languages : en
Pages : 853
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Book Description
The Handbooks in Economics series continues to provide the various branches of economics with handbooks which are definitive reference sources, suitable for use by professional researchers, advanced graduate students, or by those seeking a teaching supplement. With contributions from leading researchers, each Handbook presents an accurate, self-contained survey of the current state of the topic under examination. These surveys summarize the most recent discussions in journals, and elucidate new developments. Although original material is also included, the main aim of this series is the provision of comprehensive and accessible surveys *Every volume contains contributions from leading researchers *Each Handbook presents an accurate, self-contained survey of a particular topic *The series provides comprehensive and accessible surveys
Author: Kenn Ariga
Publisher: Cambridge University Press
ISBN: 1139431420
Category : Business & Economics
Languages : en
Pages : 311
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Book Description
Japanese labour market practices have attracted considerable attention in the West for two reasons. Firstly, innovative human resource management (HRM) is responsible for the development of competitive industrial sectors. Secondly, inner flexibility of the labour market has produced low unemployment and wage flexibility. This study, originally published in 2000, provides a thorough investigation of the distinctive features of Japanese internal labour markets (ILM) and occupational labour markets (OLM), closely analyses important changes in ILM and considers future developments. It combines a mixture both of descriptive and of theoretical and econometric work and builds on the authors' wel- known previous research in this area. Also contains a detailed case study and the econometric analysis of HRM policies used by a large Japanese firm. Although the focus is on Japanese ILM, international comparisons are made throughout, mainly with reference to Europe and the United States.
Author: Pierre Cahuc
Publisher: MIT Press
ISBN: 9780262033169
Category : Business & Economics
Languages : en
Pages : 896
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Book Description
A comprehensive graduate-level text and professional reference covering all aspects of labor economics.
Author: Peter Drysdale
Publisher: Taylor & Francis
ISBN: 9780415174374
Category :
Languages : en
Pages : 392
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Book Description
Author: Garth L. Mangum
Publisher: Routledge
ISBN: 1315493438
Category : Business & Economics
Languages : en
Pages : 390
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Book Description
First Published in 1988. More than ever before, the economics profession is divided among three competing schools of thought. Especially in labor economics, neoclassical, institutional, and radical perspectives contend, each approaching its analysis of issues from different world views and separate sets of assumptions. This book presents four issues in labor economics, income distribution, racial discrimination, comparable worth and the international division of labor.
