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Author: Anat Bracha
Publisher:
ISBN:
Category :
Languages : en
Pages : 11
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Book Description
Relative pay -- earnings compared with the earnings of others doing a similar job, or compared with one's earnings in the past -- affects how much individuals would like to work (labor supply) and their effort on the job; it therefore has implications for both employers and policy makers. A collection of recent studies shows that relative pay information, even when it is irrelevant, significantly affects labor supply and effort. This effect stems mainly from those who compare unfavorably, as essentially all studies find that awareness of earning less than others or less than in the past significantly reduces labor supply or effort on the job. Comparing favorably, however, has mixed effects. For labor supply, awareness of pay differences either has a positive effect, when the comparison is with past pay, or no effect, when the comparison is with others' pay, and it generally has no effect on exertion of effort.
Author: Anat Bracha
Publisher:
ISBN:
Category :
Languages : en
Pages : 11
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Book Description
Relative pay -- earnings compared with the earnings of others doing a similar job, or compared with one's earnings in the past -- affects how much individuals would like to work (labor supply) and their effort on the job; it therefore has implications for both employers and policy makers. A collection of recent studies shows that relative pay information, even when it is irrelevant, significantly affects labor supply and effort. This effect stems mainly from those who compare unfavorably, as essentially all studies find that awareness of earning less than others or less than in the past significantly reduces labor supply or effort on the job. Comparing favorably, however, has mixed effects. For labor supply, awareness of pay differences either has a positive effect, when the comparison is with past pay, or no effect, when the comparison is with others' pay, and it generally has no effect on exertion of effort.
Author: Pierre-Richard Agénor
Publisher: International Monetary Fund
ISBN: 1451850166
Category : Business & Economics
Languages : en
Pages : 42
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Book Description
The paper analyzes the role of labor market segmentation and relative wage rigidity in the transmission process of macroeconomic shocks in a two-sector optimizing model of a small open economy. The analysis is first conducted in the context of perfect intersectoral labor mobility. The discussion is then extended to consider the existence of short-run constraints on labor movements. The results highlight the role of efficiency considerations in the behavior of sectoral wages. A deflationary policy induces a reallocation of labor across sectors, but has no long-run effect on the unemployment rate.
Author: Orley Ashenfelter
Publisher:
ISBN:
Category : Labor economics
Languages : en
Pages :
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Book Description
Author: Anat Bracha
Publisher:
ISBN:
Category :
Languages : en
Pages : 18
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Book Description
Author: Pierre-Richard Agénor
Publisher: International Monetary Fund
ISBN: 1451853408
Category : Business & Economics
Languages : en
Pages : 36
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Book Description
This paper examines the effect of skill-biased technological change on the structure of wages, the composition of employment and the level of unemployment in a two-sector economy with a heterogenous work force. Efficiency wage considerations and minimum wage legislation lead to labor market segmentation. A technological shock that reduces the demand for unskilled labor and raises the demand for skilled labor in the primary, high-wage sector is shown to increase the relative wage of skilled workers and reduce aggregate employment as well as the employment level of unskilled workers in that sector. The net effect of the shock on the employment level of skilled workers is mitigated by the existence of efficiency factors.
Author: Mr.Bankim Chadha
Publisher: International Monetary Fund
ISBN: 1451974183
Category : Business & Economics
Languages : en
Pages : 40
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Book Description
This paper examines issues raised by the evolution of a rapidly growing small open economy—Singapore—from a labor-intensive, low-technology production base to a capital-intensive, high-technology, knowledge-and-skill-intensive emphasis as it approached the limits of its resource constraints in the labor market. In order to analyze the process of restructuring a model of endogenous growth for a small open economy that is driven by increases in labor productivity from learning and that allows for the dynamic acquisition of comparative advantage is developed. In this framework the effects of various policies and exogenous shocks on the direction and pace of restructuring are investigated.
Author: Lewis C. Solmon
Publisher: Routledge
ISBN: 0429723601
Category : Political Science
Languages : en
Pages : 394
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Book Description
This clear, accessible volume provides a comprehensive overview of the ongoing debate over the determining factors of and key influences on employment growth and labor market training, education, and related policies in the United States. Drawing on the work of distinguished labor economists, the chapters tackle questions posed by job and skill demands in the "new high-tech economy" and explore sources of employment growth; productivity growth and its implications for future employment; government mandates, labor costs, and employment; and labor force demographics, income inequality, and returns to human capital. These topics are central concerns for government, which must judge every prospective policy proposal by its effects on employment growth. Washington keeps at least one eye firmly on the jobs picture, and public officials at every level are constantly aware of the issues surrounding American job security. The jobs issue reaches beyond this focus on the unemployment rate and on total employment, including the rate at which employment is seen as growing, the growth of real wages, the security of employment, returns to human capital, uncertainty about the education and training best suited for a world of rapidly changing economic conditions, and the distribution of the gains from growth across economic classes and population groups.
Author: Lloyd George Reynolds
Publisher: Prentice Hall
ISBN:
Category : Business & Economics
Languages : en
Pages : 536
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Book Description
Author: Donna K. Ginther
Publisher: Springer Science & Business Media
ISBN: 1461503256
Category : Business & Economics
Languages : en
Pages : 277
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Book Description
Technology, Growth, and the Labor Market brings together research by economists from academia and the Federal Reserve System. The first section of the volume includes discussions by monetary policymakers with firsthand experience in determining how technology affects productivity, inequality, and macroeconomic growth. Papers in the second section discuss the sources of the surge in labor productivity growth during the latter half of the 1990s and present forecasts of labor productivity growth rates during the next few years. In the third section, the papers focus on the role of technological advances in changes in earnings inequality in the labor market. The authors examine whether inequality should be viewed as a causal result of skill-biased technological change or whether there is a missing link - or perhaps no link - between changes in technology and changes in wage inequality. The final section explores the relationships between computer investment, worker skills, human resource practices, and productivity at the industry and firm levels.
Author: Pierre-Richard Agénor
Publisher: International Monetary Fund
ISBN: 1451854781
Category : Business & Economics
Languages : en
Pages : 98
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Book Description
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.
