Supply and Demand, Allocation and Wage Inequality PDF Download
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Author: Arnaud Dupuy
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
Author: Arnaud Dupuy
Publisher:
ISBN:
Category :
Languages : en
Pages :
Get Book Here
Book Description
Author: Arnaud Dupuy
Publisher:
ISBN: 9789053213827
Category :
Languages : en
Pages : 33
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Book Description
Author: John Enrico DiNardo
Publisher:
ISBN:
Category : Income distribution
Languages : en
Pages : 80
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Book Description
This paper presents a semiparametric procedure to analyze the effects of institutional and labor market factors on recent changes in the U.S. distribution of wages. The effects of these factors are estimated by applying kernel density methods to appropriately 'reweighted' samples. The procedure provides a visually clear representation of where in the density of wages these various factors exert the greatest impact. Using data from the Current Population Survey, we find, as in previous research, that de-unionization and supply and demand shocks were important factors in explaining the rise in wage inequality from 1979 to 1988. We find also compelling visual and quantitative evidence that the decline in the real value of the minimum wage explains a substantial proportion of this increase in wage inequality, particularly for women. We conclude that labor market institutions are as important as supply and demand considerations in explaining changes in the U.S. distribution of wages from 1979 to 1988.
Author: David Pothier
Publisher: International Monetary Fund
ISBN: 1498300987
Category : Business & Economics
Languages : en
Pages : 50
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Book Description
This paper highlights how changes in the composition of demand affect income dispersion in the short run. We first document how the share of aggregate spending dedicated to labour-intensive goods and services shrinks (expands) during downturns (booms), and argue that this contributes to the observed pro-cyclicality of employment and output in labour-intensive industries. Using a two-sector general equilibrium model, we then assess how this demand composition channel influences the cyclical properties of the income distribution. Consistent with empirical evidence, we find income inequality to be countercyclical due to changes in the level of employment and (to a lesser extent) relative factor prices. The model also shows that wealth redistribution policies can potentially involve a trade-off between equality and output, depending on how they affect the composition of aggregate demand.
Author: Francine D. Blau
Publisher: A E I Press
ISBN:
Category : Business & Economics
Languages : en
Pages : 56
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Book Description
Compares trends in wage inequalities in the USA and nine other industrialized countries in the middle to late 1980s. Concludes that wages are more unequal in the USA than they are in other advanced economies.
Author: Lester C. Thurow
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 280
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Book Description
Monograph analysing distribution mechanisms in the USA by means of two economic models favoured over marginal productivity theory - discusses income distribution, employment opportunities, equal opportunities, competition, wages, and employment, examines the market system in general, the distribution of wealth, and economic policy implications. Graphs and references.
Author: Daniel Haanwinckel
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
This paper builds a general equilibrium framework with firm and worker heterogeneity, monopsony power, and task-based production to quantify the long-run effects of education, biased demand shocks, and minimum wage. I take it to Brazilian data for 1998 and 2012 and find that (i) supply and demand shocks increase sorting of high-wage workers to high-wage firms, (ii) increased entry of high-wage firms boosts the effect of rising schooling attainment on mean log wages by 25%, and (iii) the minimum wage reduces formal wage inequality but also causes wage loss for mid-productivity workers and disemployment for those at the very bottom.
Author: J.H. Bergstrand
Publisher: Elsevier
ISBN: 1483296261
Category : Business & Economics
Languages : en
Pages : 413
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Book Description
There have been dramatic changes in the distribution of earnings and income in the United States during recent years. This volume presents original papers, contributed by eminent economists, on the measurement and causes of growing income inequality in the U.S. and other major industrialized countries. The first part examines the definition of income, decomposition of earnings into capacity and capacity utilization rates, and alternative methodologies for estimating income and earnings dispersion. The second part investigates theoretically or empirically alternative causes of income inequality: international trade, macroeconomic conditions and policies, technological progress, productivity growth, institutions, demographic labor supply, and sectoral labor demand. In the final part of the volume policy implications and recommendations are discussed.The volume will be valuable for academic departments (economics, political science, sociology); economic policy institutes and Federal Reserve Bank research departments; economists in government.
Author: Richard B. Freeman
Publisher: University of Chicago Press
ISBN: 0226261840
Category : Political Science
Languages : en
Pages : 474
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Book Description
During the past two decades, wages of skilled workers in the United States rose while those of unskilled workers fell; less-educated young men in particular have suffered unprecedented losses in real earnings. These twelve original essays explore whether this trend is unique to the United States or is part of a general growth in inequality in advanced countries. Focusing on labor market institutions and the supply and demand forces that affect wages, the papers compare patterns of earnings inequality and pay differentials in the United States, Australia, Korea, Japan, Western Europe, and the changing economies of Eastern Europe. Cross-country studies examine issues such as managerial compensation, gender differences in earnings, and the relationship of pay to regional unemployment. From this rich store of data, the contributors attribute changes in relative wages and unemployment among countries both to differences in labor market institutions and training and education systems, and to long-term shifts in supply and demand for skilled workers. These shifts are driven in part by skill-biased technological change and the growing internationalization of advanced industrial economies.
Author: Ms.Era Dabla-Norris
Publisher: International Monetary Fund
ISBN: 1513547437
Category : Business & Economics
Languages : en
Pages : 39
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Book Description
This paper analyzes the extent of income inequality from a global perspective, its drivers, and what to do about it. The drivers of inequality vary widely amongst countries, with some common drivers being the skill premium associated with technical change and globalization, weakening protection for labor, and lack of financial inclusion in developing countries. We find that increasing the income share of the poor and the middle class actually increases growth while a rising income share of the top 20 percent results in lower growth—that is, when the rich get richer, benefits do not trickle down. This suggests that policies need to be country specific but should focus on raising the income share of the poor, and ensuring there is no hollowing out of the middle class. To tackle inequality, financial inclusion is imperative in emerging and developing countries while in advanced economies, policies should focus on raising human capital and skills and making tax systems more progressive.
