Wage-tenure Profiles in Contractual Labor Markets PDF Download
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Author: Hong W. Tan
Publisher:
ISBN:
Category : Contract labor
Languages : en
Pages : 32
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Book Description
The impact of long-term labor contracting on lifetime wages is a topic of growing interest among labor economists. There is evidence that an important fraction of the U.S. labor force is employed in near-lifetime jobs. Hall (1980 p. 20) finds that in 1978 over 35 percent of males held jobs that would last twenty years or more. There are several competing explanations for the existence of long-term jobs: the specific human capital hypothesis and, more recently, the agency and self-selection models. To date, no attempt has been made to distinguish empirically between them. The problem is that these models make similar predictions about the pattern of wage growth and labor turnover over the worklife. In the human capital approach, workers forgo high initial wages to invest in specific training which increases their productivity and earnings in subsequent years. The specific skills are, however, not transferable to other firms. In the agency and self-selection (henceforth, 'incentive') approach, firms offer workers wage profiles which are steeper than their productivity growth in order to reduce incentives to shirk (Lazear 1981) or to attract workers with low quit propensities. In both approaches, labor turnover declines with experience because relative wages in the current firm and elsewhere grow over the worklife.
Author: Hong W. Tan
Publisher:
ISBN:
Category : Contract labor
Languages : en
Pages : 32
Get Book Here
Book Description
The impact of long-term labor contracting on lifetime wages is a topic of growing interest among labor economists. There is evidence that an important fraction of the U.S. labor force is employed in near-lifetime jobs. Hall (1980 p. 20) finds that in 1978 over 35 percent of males held jobs that would last twenty years or more. There are several competing explanations for the existence of long-term jobs: the specific human capital hypothesis and, more recently, the agency and self-selection models. To date, no attempt has been made to distinguish empirically between them. The problem is that these models make similar predictions about the pattern of wage growth and labor turnover over the worklife. In the human capital approach, workers forgo high initial wages to invest in specific training which increases their productivity and earnings in subsequent years. The specific skills are, however, not transferable to other firms. In the agency and self-selection (henceforth, 'incentive') approach, firms offer workers wage profiles which are steeper than their productivity growth in order to reduce incentives to shirk (Lazear 1981) or to attract workers with low quit propensities. In both approaches, labor turnover declines with experience because relative wages in the current firm and elsewhere grow over the worklife.
Author:
Publisher:
ISBN:
Category : Science
Languages : en
Pages : 204
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Book Description
Author: Tito Boeri
Publisher: Princeton University Press
ISBN: 0691206368
Category : Business & Economics
Languages : en
Pages : 732
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Book Description
The leading textbook on imperfect labor markets and the institutions that affect them—now completely updated and expanded Today's labor markets are witnessing seismic changes brought on by such factors as rising self-employment, temporary employment, zero-hour contracts, and the growth of the sharing economy. This fully updated and revised third edition of The Economics of Imperfect Labor Markets reflects these and other critical changes in imperfect labor markets, and it has been significantly expanded to discuss topics such as workplace safety, regulations on self-employment, and disability and absence from work. This new edition also features engaging case studies that illustrate key aspects of imperfect labor markets. Authoritative and accessible, this textbook examines the many institutions that affect the behavior of workers and employers in imperfect labor markets. These include minimum wages, employment protection legislation, unemployment benefits, family policies, equal opportunity legislation, collective bargaining, early retirement programs, and education and migration policies. Written for advanced undergraduates and beginning graduate students, the book carefully defines and measures these institutions to accurately characterize their effects, and discusses how these institutions are being transformed today. Fully updated to reflect today's changing labor markets Significantly expanded to discuss a wealth of new topics, including the impact of the COVID-19 pandemic Features quantitative examples, new case studies, data sets that enable users to replicate results in the literature, technical appendixes, and end-of-chapter exercises Unique focus on institutions in imperfect labor markets Self-contained chapters cover each of the most important labor-market institutions Instructor's manual available to professors—now with new exercises and solutions
Author: Tito Boeri
Publisher: Princeton University Press
ISBN: 0691158932
Category : Business & Economics
Languages : en
Pages : 464
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Book Description
Most labor economics textbooks pay little attention to actual labor markets, taking as reference a perfectly competitive market in which losing a job is not a big deal. The Economics of Imperfect Labor Markets is the only textbook to focus on imperfect labor markets and to provide a systematic framework for analyzing how labor market institutions operate. This expanded, updated, and thoroughly revised second edition includes a new chapter on labor-market discrimination; quantitative examples; data and programming files enabling users to replicate key results of the literature; exercises at the end of each chapter; and expanded technical appendixes. The Economics of Imperfect Labor Markets examines the many institutions that affect the behavior of workers and employers in imperfect labor markets. These include minimum wages, employment protection legislation, unemployment benefits, active labor market policies, working-time regulations, family policies, equal opportunity legislation, collective bargaining, early retirement programs, education and migration policies, payroll taxes, and employment-conditional incentives. Written for advanced undergraduates and beginning graduate students, the book carefully defines and measures these institutions to accurately characterize their effects, and discusses how these institutions are today being changed by political and economic forces. Expanded, thoroughly revised second edition New chapter on labor-market discrimination New quantitative examples New data sets enabling users to replicate key results of the literature New end-of-chapter exercises Expanded technical appendixes Unique focus on institutions in imperfect labor markets Integrated framework and systematic coverage Self-contained chapters on each of the most important labor-market institutions
Author: Orley Ashenfelter
Publisher: Elsevier
ISBN: 0444534520
Category : Business & Economics
Languages : en
Pages : 1141
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Book Description
A guide to the continually evolving field of labour economics.
Author: Peter Drysdale
Publisher: Taylor & Francis
ISBN: 9780415174374
Category :
Languages : en
Pages : 392
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Book Description
Author: Ronald G. Ehrenberg
Publisher: Routledge
ISBN: 1315510642
Category : Business & Economics
Languages : en
Pages : 684
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Book Description
For one-semester courses in labor economics at the undergraduate and graduate levels, this book provides an overview of labor market behavior that emphasizes how theory drives public policy. Modern Labor Economics: Theory and Public Policy, Twelfth Edition gives students a thorough overview of the modern theory of labor market behavior, and reveals how this theory is used to analyze public policy. Designed for students who may not have extensive backgrounds in economics, the text balances theoretical coverage with examples of practical applications that allow students to see concepts in action. Experienced educators for nearly four decades, co-authors Ronald Ehrenberg and Robert Smith believe that showing students the social implications of the concepts discussed in the course will enhance their motivation to learn. As such, the text presents numerous examples of policy decisions that have been affected by the ever-shifting labor market. This text provides a better teaching and learning experience for you and your students. It will help you to: Demonstrate concepts through relevant, contemporary examples: Concepts are brought to life through analysis of hot-button issues such as immigration and return on investment in education. Address the Great Recession of 2008: Coverage of the current economic climate helps students place course material in a relevant context. Help students understand scientific methodology: The text introduces basic methodological techniques and problems, which are essential to understanding the field. Provide tools for review and further study: A series of helpful in-text features highlights important concepts and helps students review what they have learned.
Author: Xinxin Ma
Publisher: Springer Nature
ISBN: 9819761565
Category :
Languages : en
Pages : 322
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Book Description
Author: Pietro Garibaldi
Publisher: Oxford University Press, USA
ISBN: 0199280665
Category : Business & Economics
Languages : en
Pages : 277
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Book Description
Table of Contents 1 Personnel economics and non-competitive labour markets 1 2 The optimal skill ratio 11 3 The hours-employment trade-off 27 4 Temporary or permanent? 45 5 Managing adverse selection in recruiting 62 6 Optimal compensation schemes : foundation 82 7 Pay for performance with wage constraints 107 8 Relative compensation and efficiency wage 132 9 Training and human capital investment 152 10 Training investment in imperfect labour markets 171 11 Job destruction 187 12 Further issues in employment protection legislation 202 13 Teams of group incentives 218 App. A Labour demand at the firm level 232 App. B Constrained optimization 238.
Author: Charles R. Hulten
Publisher: University of Chicago Press
ISBN: 0226360601
Category : Business & Economics
Languages : en
Pages : 460
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Book Description
Emerging from the ruins of the Second World War, the Japanese economy has grown at double-digit rate throughout much of the 1950s and 1960s, and, when the oil crisis of the 1970s slowed growth throughout the industrialized world, Japanese growth throughout the industrialized world, Japanese growth rates remained relatively strong. There have been many attempts by scholars from a wide range of disciplines to explain this remarkable history, but for economists interested in the quantitative analysis of economic growth and the principal question addressed is how Japan was able to grow so rapidly. The contributors focus their efforts on the accurate measurement and comparison of Japanese and U.S. economic growth. Assuming that any sustained increase in real GNP must be due either to an increase in the quantity of capital and labor used in production or to the more efficient use of these inputs, the authors analyze the individual contributions of various factors and their importance in the process of output growth. These essays extend the methodology of growth analysis and offer many insights into the factors leading to the superior performance of the Japanese economy. They demonstrate that growth is a complex process and no single factor can explain the Japanese 'miracle.'
