Productivity Price And Wage Markups

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Productivity, Price- and Wage-Markups

Author : Sara Amoroso
Publisher :
ISBN 13 :
Total Pages : 36 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis Productivity, Price- and Wage-Markups by : Sara Amoroso

Download or read book Productivity, Price- and Wage-Markups written by Sara Amoroso and published by . This book was released on 2015 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the interaction between productivity growth, firms' monopolistic market power, and workers' wage bargaining power. Our study contributes to several strands of literatures. First, we examine a monopolistic framework which accounts for wage bargaining. In addition to the other studies, along with the parameters characterizing a production function and the price-cost margins, we derive a measure of wage markup without relying on trade union participation data, and we study the correlation of the estimated parameters and markups with the firm-level productivity growth. Second, the paper contributes to literature on the structural identification of production functions in two ways. As a first step, it reviews the different estimation techniques that have been tackling the endogeneity issues concerning the simultaneity, the omitted output price, and the collinearity among input factors of production. Additionally, we propose an identification strategy that relies on the presence of imperfect competition in the flexible input market, namely, the labor market.

Wage-Price-Productivity Nexus

Author : Ronald G. Bodkin
Publisher : University of Pennsylvania Press
ISBN 13 : 1512800406
Total Pages : 304 pages
Book Rating : 4.5/5 (128 download)

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Book Synopsis Wage-Price-Productivity Nexus by : Ronald G. Bodkin

Download or read book Wage-Price-Productivity Nexus written by Ronald G. Bodkin and published by University of Pennsylvania Press. This book was released on 2016-11-11 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is a volume in the Penn Press Anniversary Collection. To mark its 125th anniversary in 2015, the University of Pennsylvania Press rereleased more than 1,100 titles from Penn Press's distinguished backlist from 1899-1999 that had fallen out of print. Spanning an entire century, the Anniversary Collection offers peer-reviewed scholarship in a wide range of subject areas.

Productivity, Prices, and Incomes

Author : United States. Congress. Joint Economic Committee
Publisher :
ISBN 13 :
Total Pages : 236 pages
Book Rating : 4.:/5 (6 download)

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Book Synopsis Productivity, Prices, and Incomes by : United States. Congress. Joint Economic Committee

Download or read book Productivity, Prices, and Incomes written by United States. Congress. Joint Economic Committee and published by . This book was released on 1967 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Markups in the Labour and Product Markets and the Relative Performance of Industry and Services

Author : Giorgio Brunello (Professor)
Publisher :
ISBN 13 :
Total Pages : 58 pages
Book Rating : 4.X/5 (2 download)

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Book Synopsis Markups in the Labour and Product Markets and the Relative Performance of Industry and Services by : Giorgio Brunello (Professor)

Download or read book Markups in the Labour and Product Markets and the Relative Performance of Industry and Services written by Giorgio Brunello (Professor) and published by . This book was released on 1993 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt:

International Comparisons of Money Velocity and Wage Mark-ups

Author : John H. Hotson
Publisher :
ISBN 13 :
Total Pages : 200 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis International Comparisons of Money Velocity and Wage Mark-ups by : John H. Hotson

Download or read book International Comparisons of Money Velocity and Wage Mark-ups written by John H. Hotson and published by . This book was released on 1968 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt: Comparison of the relationship between wages fluctuation and inflation, with particular reference to price level phenomena in the USA - covers demand factors, productivity, monetary policy, wage policy, relevant aspects of economic theory and statistical method, etc. References and statistical tables.

Resurrecting the Role of the Product Market Wedge in Recessions

Author : Mark Bils
Publisher :
ISBN 13 :
Total Pages : 56 pages
Book Rating : 4.:/5 (892 download)

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Book Synopsis Resurrecting the Role of the Product Market Wedge in Recessions by : Mark Bils

Download or read book Resurrecting the Role of the Product Market Wedge in Recessions written by Mark Bils and published by . This book was released on 2014 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: Employment and hours appear far more cyclical than dictated by the behavior of productivity and consumption. This puzzle has been labeled "the labor wedge" - a cyclical wedge between the marginal product of labor and the marginal rate of substitution of consumption for leisure. The wedge can be broken into a product market wedge (price markup) and a labor market wedge (wage markup). Based on the wages of employees, the literature has attributed the wedge almost entirely to labor market distortions. Because employee wages may be smoothed versions of the true cyclical price of labor, we instead examine the self-employed, intermediate inputs, and work-in-process inventories. Looking at the past quarter century in the U.S., we find that price markup movements are at least as important as wage markup movements - including in the Great Recession and its aftermath. Thus sticky prices and other forms of countercyclical markups deserve a central place in business cycle research, alongside sticky wages and matching frictions.

Inflation, Output, and Markup Dynamics with Forward-Looking Wage and Price Setters

Author : Louis Phaneuf
Publisher :
ISBN 13 :
Total Pages : 37 pages
Book Rating : 4.:/5 (922 download)

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Book Synopsis Inflation, Output, and Markup Dynamics with Forward-Looking Wage and Price Setters by : Louis Phaneuf

Download or read book Inflation, Output, and Markup Dynamics with Forward-Looking Wage and Price Setters written by Louis Phaneuf and published by . This book was released on 2015 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: We formulate a medium-scale DSGE model that emphasizes a strong interplay between a roundabout production structure and a working capital channel that requires firms to borrow funds to finance the costs of all their variable inputs and not just the wage bill. Despite an absence of backward-looking price and wage indexation, our model is able to account for (i) a persistent and hump-shaped response of inflation to a monetary policy shock, (ii) a large and persistent response of output to a monetary policy shock, (iii) a mild "price puzzle," (iv) a procyclical price markup conditional on a monetary shock, (v) non-inertial responses of inflation to non-monetary shocks, and (vi) a negative unconditional autocorrelation of the first difference of inflation that is consistent with the data. A medium-scale model relying on backward indexation of wages and prices to past inflation fails along several of these dimensions.

Profits, Wages and Productivity in the Business Cycle

Author : Mitsuhiko Iyoda
Publisher : Springer Science & Business Media
ISBN 13 : 9401153760
Total Pages : 175 pages
Book Rating : 4.4/5 (11 download)

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Book Synopsis Profits, Wages and Productivity in the Business Cycle by : Mitsuhiko Iyoda

Download or read book Profits, Wages and Productivity in the Business Cycle written by Mitsuhiko Iyoda and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 175 pages. Available in PDF, EPUB and Kindle. Book excerpt: The purpose of this book is to explain the changes in specific macroeconomic variables such as the relative share of labour, the profit rate and the real wage rate in advanced capitalist economies, in relation to the influence of the business cycle in income distribution. To explain these changes the author examines three types of theory - Kaldorian theory, the Real Business Cycle theory, and the new Keynesian theory - with a specific focus on Kaldor's approach.

Productivity, Wages, and Prices Inside and Outside of Manufacturing in the U.S., Japan, and Europe

Author : Robert James Gordon
Publisher :
ISBN 13 :
Total Pages : 84 pages
Book Rating : 4.X/5 (1 download)

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Book Synopsis Productivity, Wages, and Prices Inside and Outside of Manufacturing in the U.S., Japan, and Europe by : Robert James Gordon

Download or read book Productivity, Wages, and Prices Inside and Outside of Manufacturing in the U.S., Japan, and Europe written by Robert James Gordon and published by . This book was released on 1986 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies the dynamic behavior of changes in productivity, wages, and prices. Results are based on a new data set that allows a consistent analysis of the aggregate economy, the manufacturing sector, and the nonmanufacturing sector. Results are presented for the U.S., Japan, and an aggregate called "Europe" consisting of eleven European economies. The primary theme of the paper is that differences between Europe and the U.S. have been substantially exaggerated in recent work. Europe has neither greater nominal wage flexibility nor more rigid real wages than the U.S. Evidence that the U.S. exhibits more nominal rigidity is confined to manufacturing, while the U.S. aggregate and nonmanufacturing sectors display as much nominal wage flexibility as Europe, and similar "output sacrifice ratios" as well. These results undermine the case frequently made against demand expansion in Europe on the ground that such a demand expansion would cause only extra inflation with no bonus of extra output as a result of a uniquely vertical European aggregate supply curve. The analysis of real wages also yields new results. A consistent treatment of the income of the self-employed almost completely eliminates the secular uptrend in previously developed wage gap indexes for Japan and Europe between the 1960s and 1980s. If anything real wages in Europe and Japan were too flexible rather than too rigid, in the sense that much of the increase in wage gap indexes in Europe during 1968-70 and in Japan in 1973-74 can be interpreted as autonomous wage push. The component of increases in wage gap indexes to be attributed to a failure of real wages to respond to the post-1972 productivity growth slowdown is relatively minor. The paper's analysis of productivity change confirms the real-wage elasticity of labor input emphasized previously, but shows that the response of productivity to changes in the real wage, and to cyclical output fluctuations, is roughly the same the U, S., Japan, and Europe. The cyclical analysis allows an estimate of trend productivity growth, revealing interesting differences between the manufacturing and nonmanufacturing sectors in the three economies

International Dimensions of Monetary Policy

Author : Jordi Galí
Publisher : University of Chicago Press
ISBN 13 : 0226278875
Total Pages : 663 pages
Book Rating : 4.2/5 (262 download)

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Book Synopsis International Dimensions of Monetary Policy by : Jordi Galí

Download or read book International Dimensions of Monetary Policy written by Jordi Galí and published by University of Chicago Press. This book was released on 2010-03-15 with total page 663 pages. Available in PDF, EPUB and Kindle. Book excerpt: United States monetary policy has traditionally been modeled under the assumption that the domestic economy is immune to international factors and exogenous shocks. Such an assumption is increasingly unrealistic in the age of integrated capital markets, tightened links between national economies, and reduced trading costs. International Dimensions of Monetary Policy brings together fresh research to address the repercussions of the continuing evolution toward globalization for the conduct of monetary policy. In this comprehensive book, the authors examine the real and potential effects of increased openness and exposure to international economic dynamics from a variety of perspectives. Their findings reveal that central banks continue to influence decisively domestic economic outcomes—even inflation—suggesting that international factors may have a limited role in national performance. International Dimensions of Monetary Policy will lead the way in analyzing monetary policy measures in complex economies.

The Real Thin Theory

Author : Alan Manning
Publisher :
ISBN 13 : 9780753016022
Total Pages : 44 pages
Book Rating : 4.0/5 (16 download)

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Book Synopsis The Real Thin Theory by : Alan Manning

Download or read book The Real Thin Theory written by Alan Manning and published by . This book was released on 2003 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Productivity-related Wage Policy and Stability of the Price Level

Author : Frank G. Müller
Publisher :
ISBN 13 :
Total Pages : 32 pages
Book Rating : 4.:/5 (713 download)

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Book Synopsis Productivity-related Wage Policy and Stability of the Price Level by : Frank G. Müller

Download or read book Productivity-related Wage Policy and Stability of the Price Level written by Frank G. Müller and published by . This book was released on 1972 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Profit Paradox

Author : Jan Eeckhout
Publisher : Princeton University Press
ISBN 13 : 0691224293
Total Pages : 352 pages
Book Rating : 4.6/5 (912 download)

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Book Synopsis The Profit Paradox by : Jan Eeckhout

Download or read book The Profit Paradox written by Jan Eeckhout and published by Princeton University Press. This book was released on 2022-10-25 with total page 352 pages. Available in PDF, EPUB and Kindle. Book excerpt: A pioneering account of the surging global tide of market power—and how it stifles workers around the world In an era of technological progress and easy communication, it might seem reasonable to assume that the world’s working people have never had it so good. But wages are stagnant and prices are rising, so that everything from a bottle of beer to a prosthetic hip costs more. Economist Jan Eeckhout shows how this is due to a small number of companies exploiting an unbridled rise in market power—the ability to set prices higher than they could in a properly functioning competitive marketplace. Drawing on his own groundbreaking research and telling the stories of common workers throughout, he demonstrates how market power has suffocated the world of work, and how, without better mechanisms to ensure competition, it could lead to disastrous market corrections and political turmoil. The Profit Paradox describes how, over the past forty years, a handful of companies have reaped most of the rewards of technological advancements—acquiring rivals, securing huge profits, and creating brutally unequal outcomes for workers. Instead of passing on the benefits of better technologies to consumers through lower prices, these “superstar” companies leverage new technologies to charge even higher prices. The consequences are already immense, from unnecessarily high prices for virtually everything, to fewer startups that can compete, to rising inequality and stagnating wages for most workers, to severely limited social mobility. A provocative investigation into how market power hurts average working people, The Profit Paradox also offers concrete solutions for fixing the problem and restoring a healthy economy.

Technology Shocks and Aggregate Fluctuations

Author : Mr.Pau Rabanal
Publisher : International Monetary Fund
ISBN 13 : 1451875657
Total Pages : 68 pages
Book Rating : 4.4/5 (518 download)

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Book Synopsis Technology Shocks and Aggregate Fluctuations by : Mr.Pau Rabanal

Download or read book Technology Shocks and Aggregate Fluctuations written by Mr.Pau Rabanal and published by International Monetary Fund. This book was released on 2004-12-01 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: Our answer: Not so well. We reached that conclusion after reviewing recent research on the role of technology as a source of economic fluctuations. The bulk of the evidence suggests a limited role for aggregate technology shocks, pointing instead to demand factors as the main force behind the strong positive comovement between output and labor input measures.

Productivity Prices and Wages

Author : Jean Fourastié
Publisher :
ISBN 13 :
Total Pages : 113 pages
Book Rating : 4.:/5 (832 download)

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Book Synopsis Productivity Prices and Wages by : Jean Fourastié

Download or read book Productivity Prices and Wages written by Jean Fourastié and published by . This book was released on 1957 with total page 113 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Price-cost Markups and Productivity Dynamics of Entrant Plants

Author : Umut Kilinc
Publisher :
ISBN 13 :
Total Pages : 34 pages
Book Rating : 4.:/5 (849 download)

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Book Synopsis Price-cost Markups and Productivity Dynamics of Entrant Plants by : Umut Kilinc

Download or read book Price-cost Markups and Productivity Dynamics of Entrant Plants written by Umut Kilinc and published by . This book was released on 2010 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Behavioral Economics and Its Applications

Author : Peter Diamond
Publisher : Princeton University Press
ISBN 13 : 1400829143
Total Pages : 331 pages
Book Rating : 4.4/5 (8 download)

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Book Synopsis Behavioral Economics and Its Applications by : Peter Diamond

Download or read book Behavioral Economics and Its Applications written by Peter Diamond and published by Princeton University Press. This book was released on 2012-01-12 with total page 331 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the last decade, behavioral economics, borrowing from psychology and sociology to explain decisions inconsistent with traditional economics, has revolutionized the way economists view the world. But despite this general success, behavioral thinking has fundamentally transformed only one field of applied economics-finance. Peter Diamond and Hannu Vartiainen's Behavioral Economics and Its Applications argues that behavioral economics can have a similar impact in other fields of economics. In this volume, some of the world's leading thinkers in behavioral economics and general economic theory make the case for a much greater use of behavioral ideas in six fields where these ideas have already proved useful but have not yet been fully incorporated--public economics, development, law and economics, health, wage determination, and organizational economics. The result is an attempt to set the agenda of an important development in economics--an agenda that will interest policymakers, sociologists, and psychologists as well as economists. Contributors include Ian Ayres, B. Douglas Bernheim, Truman F. Bewley, Colin F. Camerer, Anne Case, Michael D. Cohen, Peter Diamond, Christoph Engel, Richard G. Frank, Jacob Glazer, Seppo Honkapohja, Christine Jolls, Botond Koszegi, Ulrike Malmendier, Sendhil Mullainathan, Antonio Rangel, Emmanuel Saez, Eldar Shafir, Sir Nicholas Stern, Jean Tirole, Hannu Vartiainen, and Timothy D. Wilson.