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Does The Dispersion Of Skills Explain Inequality In Market Labor Income An Analysis From Occupational Choice Models
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Book Synopsis Does the Dispersion of Skills Explain Inequality in Market Labor Income? An Analysis From Occupational Choice Models by : Luis Medrano-Adan
Download or read book Does the Dispersion of Skills Explain Inequality in Market Labor Income? An Analysis From Occupational Choice Models written by Luis Medrano-Adan and published by . This book was released on 2018 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the relationship between the dispersion of general skills in the working population, and inequality in the distribution of labor income that arises from the market equilibrium from occupational choices. In general, more skilled individuals earn higher labor income in the equilibrium, and the relationship between skills and income is proportional in the occupational group of employees, but labor income increases more than proportionately with skills in the groups of solo self-employed and entrepreneur-managers. Labor income inequality at the economy level is then the result of combining the distribution of skills with the sizes of occupational groups. This paper helps to explain some apparent contradictions between the theory, which predicts a close association between dispersion of skills and labor income inequality, and the empirical evidence, using data from the PIAAC project, of no correlation between dispersion of skills and wage inequality in cross-country data.
Book Synopsis Market Income Inequality from Occupational Choice by : Luis Medrano-Adan
Download or read book Market Income Inequality from Occupational Choice written by Luis Medrano-Adan and published by . This book was released on 2016 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines income inequality as the market equilibrium from occupational choice of individuals with differential general skills, working as employees or as entrepreneurs, with or without employees. Income inequality in the equilibrium depends primarily on the dispersion of skills in the population, on the degree of organizational scale diseconomies in the supervision function of entrepreneurs, and on the ownership distribution of capital as a production resource input. Using values of the parameter calibrated using Spanish data on the size of occupational groups, the paper identifies certain trade-offs between higher efficiency and greater income inequality from changes in the parameters of the model. The results of the analysis also question the efficiency and effectiveness of the minimum wage in reducing income inequality.
Book Synopsis Causes and Consequences of Income Inequality by : Ms.Era Dabla-Norris
Download or read book Causes and Consequences of Income Inequality written by Ms.Era Dabla-Norris and published by International Monetary Fund. This book was released on 2015-06-15 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Labor Market Power and Occupational Choice by : Felipe Balmaceda
Download or read book Labor Market Power and Occupational Choice written by Felipe Balmaceda and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper integrates labor market power and occupational choice, specifically the choice between paid employment and self-employment, to examine the mutual effects between the two. Neglecting the consideration of occupational choice leads to upwardly biased estimates regarding the influence of labor market power on wages, while simultaneously underestimating the returns to skills. Similarly, disregarding labor market power results in biased estimates favoring increased participation in paid employment and higher-income individuals engaging in self-employment. The model employed in this paper allows for the investigation of how labor market power and occupational choice impact wage inequality, skill mismatch, and skills acquisition. Furthermore, the study examines the potential of minimum wages, taxes, and subsidies to mitigate labor market power and its associated consequences.
Book Synopsis Unequal We Stand by : Jonathan Heathcote
Download or read book Unequal We Stand written by Jonathan Heathcote and published by DIANE Publishing. This book was released on 2010-10 with total page 61 pages. Available in PDF, EPUB and Kindle. Book excerpt: The authors conducted a systematic empirical study of cross-sectional inequality in the U.S., integrating data from various surveys. The authors follow the mapping suggested by the household budget constraint from individual wages to individual earnings, to household earnings, to disposable income, and, ultimately, to consumption and wealth. They document a continuous and sizable increase in wage inequality over the sample period. Changes in the distribution of hours worked sharpen the rise in earnings inequality before 1982, but mitigate its increase thereafter. Taxes and transfers compress the level of income inequality, especially at the bottom of the distribution, but have little effect on the overall trend. Charts and tables. This is a print-on-demand publication; it is not an original.
Book Synopsis The Race between Education and Technology by : Claudia Goldin
Download or read book The Race between Education and Technology written by Claudia Goldin and published by Harvard University Press. This book was released on 2009-07-01 with total page 497 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a careful historical analysis of the co-evolution of educational attainment and the wage structure in the United States through the twentieth century. The authors propose that the twentieth century was not only the American Century but also the Human Capital Century. That is, the American educational system is what made America the richest nation in the world. Its educational system had always been less elite than that of most European nations. By 1900 the U.S. had begun to educate its masses at the secondary level, not just in the primary schools that had remarkable success in the nineteenth century. The book argues that technological change, education, and inequality have been involved in a kind of race. During the first eight decades of the twentieth century, the increase of educated workers was higher than the demand for them. This had the effect of boosting income for most people and lowering inequality. However, the reverse has been true since about 1980. This educational slowdown was accompanied by rising inequality. The authors discuss the complex reasons for this, and what might be done to ameliorate it.
Book Synopsis The Oxford Handbook of Women and the Economy by : Susan L. Averett
Download or read book The Oxford Handbook of Women and the Economy written by Susan L. Averett and published by Oxford University Press. This book was released on 2018-05-15 with total page 889 pages. Available in PDF, EPUB and Kindle. Book excerpt: The transformation of women's lives over the past century is among the most significant and far-reaching of social and economic phenomena, affecting not only women but also their partners, children, and indeed nearly every person on the planet. In developed and developing countries alike, women are acquiring more education, marrying later, having fewer children, and spending a far greater amount of their adult lives in the labor force. Yet, because women remain the primary caregivers of children, issues such as work-life balance and the glass ceiling have given rise to critical policy discussions in the developed world. In developing countries, many women lack access to reproductive technology and are often relegated to jobs in the informal sector, where pay is variable and job security is weak. Considerable occupational segregation and stubborn gender pay gaps persist around the world. The Oxford Handbook of Women and the Economy is the first comprehensive collection of scholarly essays to address these issues using the powerful framework of economics. Each chapter, written by an acknowledged expert or team of experts, reviews the key trends, surveys the relevant economic theory, and summarizes and critiques the empirical research literature. By providing a clear-eyed view of what we know, what we do not know, and what the critical unanswered questions are, this Handbook provides an invaluable and wide-ranging examination of the many changes that have occurred in women's economic lives.
Download or read book Wage Dispersion written by Dale Mortensen and published by MIT Press. This book was released on 2003 with total page 170 pages. Available in PDF, EPUB and Kindle. Book excerpt: A theoretical and empirical examination of wage differentials findsthat traditional theories of competition do not explain why workers with identical skills are paid differently.
Book Synopsis Wage Inequality and Segregation by Skill by : Michael Kremer
Download or read book Wage Inequality and Segregation by Skill written by Michael Kremer and published by . This book was released on 1996 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt: Evidence from the US, Britain, and France suggests that recent growth in wage inequality has been accompanied by greater segregation of high- and low-skill workers into separate firms. A model in which workers of different skill-levels are imperfect substitutes can simultaneously account for these increases in segregation and inequality either through technological change, or, more parsimoniously, through observed changes in the skill-distribution.
Book Synopsis Demand Composition and Income Distribution by : David Pothier
Download or read book Demand Composition and Income Distribution written by David Pothier and published by International Monetary Fund. This book was released on 2014-12-15 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Inequality and the Labor Market by : Sharon Block
Download or read book Inequality and the Labor Market written by Sharon Block and published by Brookings Institution Press. This book was released on 2021-04-06 with total page 263 pages. Available in PDF, EPUB and Kindle. Book excerpt: Exploring a new agenda to improve outcomes for American workers As the United States continues to struggle with the impact of the devastating COVID-19 recession, policymakers have an opportunity to redress the competition problems in our labor markets. Making the right policy choices, however, requires a deep understanding of long-term, multidimensional problems. That will be solved only by looking to the failures and unrealized opportunities in anti-trust and labor law. For decades, competition in the U.S. labor market has declined, with the result that American workers have experienced slow wage growth and diminishing job quality. While sluggish productivity growth, rising globalization, and declining union representation are traditionally cited as factors for this historic imbalance in economic power, weak competition in the labor market is increasingly being recognized as a factor as well. This book by noted experts frames the legal and economic consequences of this imbalance and presents a series of urgently needed reforms of both labor and anti-trust laws to improve outcomes for American workers. These include higher wages, safer workplaces, increased ability to report labor violations, greater mobility, more opportunities for workers to build power, and overall better labor protections. Inequality in the Labor Market will interest anyone who cares about building a progressive economic agenda or who has a marked interest in labor policy. It also will appeal to anyone hoping to influence or anticipate the much-needed progressive agenda for the United States. The book's unusual scope provides prescriptions that, as Nobel Laureate Joseph Stiglitz notes in the introduction, map a path for rebalancing power, not just in our economy but in our democracy.
Book Synopsis Skills, Degrees and Labor Market Inequality by : Peter Q. Blair
Download or read book Skills, Degrees and Labor Market Inequality written by Peter Q. Blair and published by . This book was released on 2021 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis A Simple Model of Inequality, Occupational Choice, and Development by : Maitreesh Ghatak
Download or read book A Simple Model of Inequality, Occupational Choice, and Development written by Maitreesh Ghatak and published by . This book was released on 2003 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We analyze a simple and tractable model of occupational choice in the presence of credit market imperfections. We examine the effect of parameters governing technology and transaction costs, and history, in terms of the initial wealth distribution, in determining the long-term wealth distribution and the level of per capita income of an economy.
Book Synopsis Occupational Choice, the Effects of Skill Supply on Relative Wages, and Capital-skill Correlation by : Gregory Michael Kurtzon
Download or read book Occupational Choice, the Effects of Skill Supply on Relative Wages, and Capital-skill Correlation written by Gregory Michael Kurtzon and published by . This book was released on 2001 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Many policies attempt to reduce income inequality by encouraging education and restricting immigration, based on the idea that similarly skilled workers are substitutes and differently skilled workers are complements. With more highly skilled workers and less low skilled workers, high skilled wages would fall and low skilled wages would rise. This paper theoretically develops, provides empirical evidence for, estimates a structural version of, and simulates a new model that explains this effect with differently skilled workers choosing different, complementary occupations. Workers change occupations when wages change, with the result that education subsidies can make low skilled workers worse off when high skilled workers enter their occupations. In addition, immigration can aid low skilled workers by making it beneficial to move into previously higher skilled occupations.
Download or read book Career and Skill Formation written by and published by . This book was released on 2007 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Does Inequality in Skills Explain Inequality of Earnings Across Advanced Countries? by : Dan Devroye
Download or read book Does Inequality in Skills Explain Inequality of Earnings Across Advanced Countries? written by Dan Devroye and published by . This book was released on 2001 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: The distribution of earnings and the distribution of skills vary widely among advanced countries, with the major English-speaking countries, the US, UK, and Canada, having much greater inequality in both earnings and skills than continental European Union countries. This raises the possibility that cross-country differences in the distribution of skills determine cross-country differences in earnings inequality. Using the International Adult Literacy Survey, we find that skill inequality explains only about 7% of the cross-country difference in inequality. Most striking, the dispersion of earnings in the US is larger in narrowly defined skill groups than is the dispersion of earnings for European workers overall. The bulk of cross-country differences in earnings inequality occur within skill groups, not between them
Book Synopsis Within Occupation Wage Dispersion and the Task Content of Jobs by : Lucas Van der Velde
Download or read book Within Occupation Wage Dispersion and the Task Content of Jobs written by Lucas Van der Velde and published by . This book was released on 2020 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Most analyses linking task content of jobs to income inequality focus on the effects between occupations, e.g. the growing dispersion between lousy and lovely jobs. The theory, meanwhile, provides insights on links between task content of jobs and inequality also within occupations: models predict compression of wages in more routine jobs, that is those where capital is a direct substitute for labour, and an increase in dispersion in jobs where capital and labour are complements. I document that within occupations dispersion of wages is empirically relevant, as it represents around half of total wage inequality across Europe. I then link wage inequality to the task content of jobs. Using matched employee-employer data from Europe for the period 2002-14, I show that occupations where tasks complement newer technologies exhibit higher wage dispersion. This relationship is robust to adjusting for a variety of confounding and mitigating channels.
