A Theory Of Wages And Labour Demand With Intra Firm Bargaining And Matching Frictions
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| Author | : Andreas Pollak |
| Publisher | : Mohr Siebeck |
| Total Pages | : 204 |
| Release | : 2007 |
| Genre | : Business & Economics |
| ISBN | : 9783161493041 |
Designing a good unemployment insurance scheme is a delicate matter. In a system with no or little insurance, households may be subject to a high income risk, whereas excessively generous unemployment insurance systems are known to lead to high unemployment rates and are costly both from a fiscal perspective and for society as a whole. Andreas Pollak investigates what an optimal unemployment insurance system would look like, i.e. a system that constitutes the best possible compromise between income security and incentives to work. Using theoretical economic models and complex numerical simulations, he studies the effects of benefit levels and payment durations on unemployment and welfare. As the models allow for considerable heterogeneity of households, including a history-dependent labor productivity, it is possible to analyze how certain policies affect individuals in a specific age, wealth or skill group. The most important aspect of an unemployment insurance system turns out to be the benefits paid to the long-term unemployed. If this parameter is chosen too high, a large number of households may get caught in a long spell of unemployment with little chance of finding work again. Based on the predictions in these models, the so-called "Hartz IV" labor market reform recently adopted in Germany should have highly favorable effects on the unemployment rates and welfare in the long run.
| Author | : Christopher A. Pissarides |
| Publisher | : MIT Press |
| Total Pages | : 273 |
| Release | : 2000-03-02 |
| Genre | : Business & Economics |
| ISBN | : 0262264064 |
This book focuses on the modeling of the transitions in and out of unemployment, given the stochastic processes that break up jobs and lead to the formation of new jobs, and on the implications of this approach for macroeconomic equilibrium and for the efficiency of the labor market. An equilibrium theory of unemployment assumes that firms and workers maximize their payoffs under rational expectations and that wages are determined to exploit the private gains from trade. This book focuses on the modeling of the transitions in and out of unemployment, given the stochastic processes that break up jobs and lead to the formation of new jobs, and on the implications of this approach for macroeconomic equilibrium and for the efficiency of the labor market. This approach to labor market equilibrium and unemployment has been successful in explaining the determinants of the "natural" rate of unemployment and new data on job and worker flows, in modeling the labor market in equilibrium business cycle and growth models, and in analyzing welfare policy. The second edition contains two new chapters, one on endogenous job destruction and one on search on the job and job-to-job quitting. The rest of the book has been extensively rewritten and, in several cases, simplified.
| Author | : Nicolas Petrosky-Nadeau |
| Publisher | : MIT Press |
| Total Pages | : 271 |
| Release | : 2017-11-10 |
| Genre | : Business & Economics |
| ISBN | : 0262036452 |
An integrated framework to study the theoretical and quantitative properties of economies with frictions in labor, financial, and goods markets. This book offers an integrated framework to study the theoretical and quantitative properties of economies with frictions in multiple markets. Building on analyses of markets with frictions by 2010 Nobel laureates Peter A. Diamond, Dale T. Mortensen, and Christopher A. Pissarides, which provided a new theoretical approach to search markets, the book applies this new paradigm to labor, finance, and goods markets. It shows, in particular, how frictions in different markets interact with each other. The book first covers the main developments in the analysis of the labor market in the presence of frictions, offering a systematic analysis of the dynamics of this environment and explaining the notion of macroeconomic volatility. Then, building on the generality and simplicity of the search analysis, the book adapts it to other markets, developing the tools and concepts to analyze friction in these markets. The book goes beyond the traditional general equilibrium analysis of markets, which is often frictionless. It begins with the standard analysis of a single market, and then sequentially integrates more markets into the analysis, progressing from labor to financial to goods markets. Along the way, the book provides a number of useful results and insights, including the existence of a direct link between search frictions and the degree of volatility in the economy.
| Author | : Barbara Petrongolo |
| Publisher | : |
| Total Pages | : 0 |
| Release | : 2000 |
| Genre | : |
| ISBN | : |
| Author | : Kenneth F. Scheve |
| Publisher | : Peterson Institute |
| Total Pages | : 156 |
| Release | : 2001 |
| Genre | : Business & Economics |
| ISBN | : 9780881322958 |
Using evidence from public opinion polls Scheve (political science, Yale U.) and Slaughter (economics, Dartmouth College, New Hampshire) discuss the attitudes of American workers towards globalization, concluding that there is a strong division in attitude based on education and skill levels, with less-skilled workers seeing globalization as a threat. The authors delineate globalization and their analysis in purely economic terms as they discuss the public opinion evidence on US opposition to globalization, various economic models to interpret the differences in opinion of the surveys, the larger context of recent US labor-market pressures and how these affect worker preferences. Annotation copyrighted by Book News Inc., Portland, OR
| Author | : Henning Bunzel |
| Publisher | : Emerald Group Publishing |
| Total Pages | : 613 |
| Release | : 2006-03-30 |
| Genre | : Business & Economics |
| ISBN | : 0444520899 |
Selected papers from a conference held in honour of Professor Dale T. Mortensen upon the occasion of his 65th birthday. It includes papers on some of Professor Dale T. Mortensen's current research topics, as well as additional theoretical papers, and micro- and macro-econometric papers.
| Author | : Juan A. Bogliaccini |
| Publisher | : Cambridge University Press |
| Total Pages | : 241 |
| Release | : 2024-03-21 |
| Genre | : Political Science |
| ISBN | : 1009433539 |
Empowering Labor uses a comparative study of Chile, Portugal, and Uruguay to analyze the underlying political dynamics that shape the use of wage policy as a pre-distributive instrument of leftist parties in power in unequal democracies. The book theorizes that the unity of the Left and labor's political legitimacy are two main drivers for relating on wage policy as a pre-distributive instrument for promoting inclusion. These factors are shaped by elite long-term strategies towards labor. Such strategies, when dominant for long-enough periods, create path dependency, shaping differential opportunities for further options down the road. The book integrates large-scale historical processes with frequently analyzed short-term and agency-based factors to elucidate variation in the crafting of wage policies and reshapes the debate on the politics of pre-distribution in unequal democracies by situating the cases in a longer historical arc.
| Author | : George De Menil |
| Publisher | : MIT Press (MA) |
| Total Pages | : 152 |
| Release | : 1971 |
| Genre | : Business & Economics |
| ISBN | : |
An innovative approach to the problem of wage determination in the labor markets of highly unionized industries.
| Author | : Richard Layard |
| Publisher | : Oxford University Press, USA |
| Total Pages | : 678 |
| Release | : 2005 |
| Genre | : Business & Economics |
| ISBN | : 9780199279173 |
This broad survey of unemployment will be a major source of reference for both scholars and students.
| Author | : John M. Abowd |
| Publisher | : Université de Montréal, Centre de recherche et développement en économique |
| Total Pages | : 94 |
| Release | : 1994 |
| Genre | : Business & Economics |
| ISBN | : |
We study a longitudinal sample of over one million French workers and over 500,000 employing firms. Real total annual compensation per worker is decomposed into components related to observable characteristics, worker heterogeneity, firm heterogeneity and residual variation. Except for the residual, all components may be correlated in an arbitrary fashion. At the level of the individual, we find that person-effects, especially those not related to observables like education, are the most important source of wage variation in France. Firm-effects, while important, are not as important as person-effects. At the level of firms, we find that enterprises that hire high-wage workers are more productive but not more profitable. They are also more capital and high-skilled employee intensive. Enterprises that pay higher wages, controlling for person-effects, are more productive and more profitable. They are also more capital intensive but are not more high-skilled labor intensive. We also find that person-effects explain 92% of inter-industry wage differentials.
