The Structure of Wages

The Structure of Wages
Author: Edward P. Lazear
Publisher: University of Chicago Press
Total Pages: 473
Release: 2009-05-15
Genre: Business & Economics
ISBN: 0226470512

The distribution of income, the rate of pay raises, and the mobility of employees is crucial to understanding labor economics. Although research abounds on the distribution of wages across individuals in the economy, wage differentials within firms remain a mystery to economists. The first effort to examine linked employer-employee data across countries, The Structure of Wages:An International Comparison analyzes labor trends and their institutional background in the United States and eight European countries. A distinguished team of contributors reveal how a rising wage variance rewards star employees at a higher rate than ever before, how talent becomes concentrated in a few firms over time, and how outside market conditions affect wages in the twenty-first century. From a comparative perspective that examines wage and income differences within and between countries such as Denmark, Italy, and the Netherlands, this volume will be required reading for economists and those working in industrial organization.

Company Wage Policies

Company Wage Policies
Author: Princeton University. Industrial Relations Section
Publisher:
Total Pages: 54
Release: 1948
Genre: Compensation management
ISBN:

Minimum Wages and Firm Employment

Minimum Wages and Firm Employment
Author: Yi Huang
Publisher: International Monetary Fund
Total Pages: 47
Release: 2014-10-16
Genre: Business & Economics
ISBN: 1498332307

This paper provides the first systematic study of how minimum wage policies in China affect firm employment over the 2000-2007 periods. Using a novel dataset of minimum wage regulations across more than 2,800 counties matched with firm-level data, we investigate both the effect of the minimum wage and its policy enforcement tightening in 2004. A dynamic panel (difference GMM) estimator is combined with a “neighbor-pairs-approach” to control for unobservable heterogeneity common to “border counties” that are subject to different minimum wage changes. We show that minimum wage increases have a significant negative impact on employment, with an estimated elasticity of -0.1. Furthermore, we find a heterogeneous effect of the minimum wage on employment which depends on the firm's wage level. Specifically, the minimum wage has a greater negative impact on employment in low-wage firms than in high-wage firms. Our results are robust for different treatment groups, sample attrition correction, and placebo tests.

The Role of Firms in Wage Inequality Policy Lessons from a Large Scale Cross-Country Study

The Role of Firms in Wage Inequality Policy Lessons from a Large Scale Cross-Country Study
Author: OECD
Publisher: OECD Publishing
Total Pages: 186
Release: 2021-12-09
Genre:
ISBN: 9264900225

Even though firms play a key role in shaping wages, wage inequality and the gender wage gap, firms have so far only featured to a limited extent in the policy debates around these issues. The evidence in this volume shows that around one third of overall wage inequality can be explained by gaps in pay between firms rather than differences in the level and returns to workers’ skills.

Wage-Led Growth

Wage-Led Growth
Author: Engelbert Stockhammer
Publisher: Springer
Total Pages: 329
Release: 2013-12-03
Genre: Business & Economics
ISBN: 1137357932

This volume seeks to go beyond the microeconomic view of wages as a cost having negative consequences on a given firm, to consider the positive macroeconomic dynamics associated with wages as a major component of aggregate demand.

Wage Dispersion

Wage Dispersion
Author: Dale Mortensen
Publisher: MIT Press
Total Pages: 170
Release: 2003
Genre: Business & Economics
ISBN: 9780262633192

A theoretical and empirical examination of wage differentials findsthat traditional theories of competition do not explain why workers with identical skills are paid differently.

The Wage Policy of the Firm

The Wage Policy of the Firm
Author: Guido Menzio
Publisher:
Total Pages: 133
Release: 2005
Genre:
ISBN:

This dissertation develops a novel model of wage determination in frictional labor markets, based on the personnel economics notion of "firm-wage policy." The first micro implication of the model is that if co-workers can observe each other's pay, the wage of old and new cohorts of workers within a firm is positively correlated. Secondly, the model implies that a firm-wage does respond to persistent productivity shocks, but is unchanged in the face of high-frequency productivity fluctuations. At the macro level, this wage determination model creates a powerful amplification mechanism from small aggregate shocks to productivity into large unemployment and vacancy fluctuations.