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Author : Erica Lynn Groshen
Publisher :
ISBN 13 :
Total Pages : 346 pages
Book Rating : 4.:/5 (2 download)
Download or read book Sources of Wage Dispersion written by Erica Lynn Groshen and published by . This book was released on 1986 with total page 346 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Dale Mortensen
Publisher : MIT Press
ISBN 13 : 9780262633192
Total Pages : 170 pages
Book Rating : 4.6/5 (331 download)
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.
Author : Erica L. Groshen
Publisher :
ISBN 13 :
Total Pages : 68 pages
Book Rating : 4.3/5 ( download)
Download or read book Sources of Wage Dispersion written by Erica L. Groshen and published by . This book was released on 1988 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Edward P. Lazear
Publisher : University of Chicago Press
ISBN 13 : 0226470512
Total Pages : 473 pages
Book Rating : 4.2/5 (264 download)
Download or read book The Structure of Wages written by Edward P. Lazear and published by University of Chicago Press. This book was released on 2009-05-15 with total page 473 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Fictional Wage Dispersion in Search Models written by and published by . This book was released on 2007 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Standard search and matching models of equilibrium unemployment, once properly calibrated, can generate only a small amount of frictional wage dispersion, i.e., wage differentials among ex-ante similar workers induced purely by search frictions. We derive this result for a specific measure of wage dispersion -- the ratio between the average wage and the lowest (reservation) wage paid. We show that in a large class of search and matching models this statistic (the "mean-min ratio") can be obtained in closed form as a function of observable variables (i.e., the interest rate, the value of leisure, and statistics of labor market turnover). Various independent data sources suggest that actual residual wage dispersion (i.e., inequality among observationally similar workers) exceeds the model's prediction by a factor of 20. We discuss three extensions of the model (risk aversion, volatile wages during employment, and on-the-job search) and find that, in their simplest versions, they can improve its performance, but only modestly. We conclude that either frictions account for a tiny fraction of residual wage dispersion, or the standard model needs to be augmented to confront the data. In particular, the last generation of models with on-the-job search appears promising.
Author : Linda A. Bell
Publisher :
ISBN 13 :
Total Pages : 46 pages
Book Rating : 4.:/5 (198 download)
Download or read book The Causes of Rising U.S. Industrial Wage Dispersion written by Linda A. Bell and published by . This book was released on 1988 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Robert Ernest Hall
Publisher :
ISBN 13 :
Total Pages : 55 pages
Book Rating : 4.:/5 (932 download)
Download or read book Wage Dispersion and Search Behavior written by Robert Ernest Hall and published by . This book was released on 2015 with total page 55 pages. Available in PDF, EPUB and Kindle. Book excerpt: We use a rich new body of data on the experiences of unemployed job-seekers to determine the sources of wage dispersion and to create a search model consistent with the acceptance decisions the job-seekers made. From the data and the model, we identify the distributions of four key variables: offered wages, offered non-wage job values, the value of the job-seeker's non-work alternative, and the job-seeker's personal productivity. We find that, conditional on personal productivity, the dispersion of offered wages is moderate, accounting for 21 percent of the total variation in observed offered wages, whereas the dispersion of the non-wage component of offered job values is substantially larger. We relate our findings to an influential recent paper by Hornstein, Krusell, and Violante who called attention to the tension between the fairly high dispersion of the values job-seekers assign to their job offers--which suggest a high value to sampling from multiple offers--and the fact that the job-seekers often accept the first offer they receive.
Author : Volker Tjaden
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (777 download)
Download or read book Exploring the Causes of Frictional Wage Dispersion written by Volker Tjaden and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Steven J. Davis
Publisher :
ISBN 13 :
Total Pages : 90 pages
Book Rating : 4.3/5 ( download)
Download or read book Wage Dispersion Between and Within U.S. Manufacturing Plants, 1963-1986 written by Steven J. Davis and published by . This book was released on 1991 with total page 90 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper exploits a rich and largely untapped source of information on the wages and other characteristics of individual manufacturing plants to cast new light on recent changes in the United States wage structure. Our primary data source, the Longitudinal Research Datafile (LRD) , contains observations on more than 300,000 manufacturing plants during Census years (1963, 1967, 1972, 1977, 1982) and 50,000-70,000 plants during intercensus years since 1972. We use the information in the LRD to investigate changes in the plant-wage structure over the past three decades. We also combine plant-level wage observations in the LRD with wage observations on individual workers in the Current Population Survey (CPS) to estimate the between-plant and within-plant components of overall wage dispersion.
Author : Andreas Hornstein
Publisher :
ISBN 13 :
Total Pages : 56 pages
Book Rating : 4.:/5 (19 download)
Download or read book Frictional Wage Dispersion in Search Models written by Andreas Hornstein and published by . This book was released on 2007 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: Standard search and matching models of equilibrium unemployment, once properly calibrated, can generate only a small amount of frictional wage dispersion, i.e., wage differentials among ex-ante similar workers induced purely by search frictions. We derive this result for a specific measure of wage dispersion -- the ratio between the average wage and the lowest (reservation) wage paid. We show that in a large class of search and matching models this statistic (the "mean-min ratio") can be obtained in closed form as a function of observable variables (i.e., the interest rate, the value of leisure, and statistics of labor market turnover). Various independent data sources suggest that actual residual wage dispersion (i.e., inequality among observationally similar workers) exceeds the model's prediction by a factor of 20. We discuss three extensions of the model (risk aversion, volatile wages during employment, and on-the-job search) and find that, in their simplest versions, they can improve its performance, but only modestly. We conclude that either frictions account for a tiny fraction of residual wage dispersion, or the standard model needs to be augmented to confront the data. In particular, the last generation of models with on-the-job search appears promising.
Author : Jesper Bagger
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (129 download)
Download or read book An Empirical Model of Wage Dispersion with Sorting written by Jesper Bagger and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies wage dispersion in an equilibrium on-the-job-search model with endogenous search intensity. Workers differ in their permanent skill level and firms differ with respect to productivity. Positive (negative) sorting results if the match production function is supermodular (submodular). The model is estimated on Danish matched employer-employee data. We find evidence of positive assortative matching. In the estimated equilibrium match distribution, the correlation between worker skill and firm productivity is 0.12. The assortative matching has a substantial impact on wage dispersion. We decompose wage variation into four sources: Worker heterogeneity, firm heterogeneity, frictions, and sorting. Worker heterogeneity contributes 51% of the variation, firm heterogeneity contributes 11%, frictions 23%, and finally sorting contributes 15%. We measure the output loss due to mismatch by asking how much greater output would be if the estimated population of matches were perfectly positively assorted. In this case, output would increase by 7.7%.
Author : Harry Mortimer Douty
Publisher :
ISBN 13 :
Total Pages : 74 pages
Book Rating : 4.:/5 (219 download)
Download or read book Sources of Occupational Wage and Salary Rate Dispersion Within Labor Markets written by Harry Mortimer Douty and published by . This book was released on 1961 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : D. Mortensen
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (987 download)
Download or read book Wage dispersion written by D. Mortensen and published by . This book was released on 2003 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Edward Montgomery
Publisher :
ISBN 13 :
Total Pages : 42 pages
Book Rating : 4.E/5 ( download)
Download or read book Evidence on the Causes of the Rising Dispersion of Relative Wages written by Edward Montgomery and published by . This book was released on 1985 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Benjamin Villena-Roldan
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Wage Dispersion and Recruiting Selection written by Benjamin Villena-Roldan and published by . This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper I introduce a novel source of residual wage dispersion. In the model, workers are heterogenous in productivity and randomly apply to ex ante identical posted vacancies. Each employer simultaneously meets several applicants, offers the position to the best candidate and bargains with her about the wage. Since the outside option of the employer is to hire the second-best worker, the wage paid to the best applicant decreases in the productivity of her closest competitor. Because the assignment of workers to vacancies is random in equilibrium, each worker faces a nondegenerate distribution of wages given her productivity before applying to a job. The framework suggests that the capability of search models to generate residual wage dispersion must be restricted to match-specific shocks. The model also predicts (i) residual wage dispersion of level wages increasing in productivity; (ii) residual wage dispersion of log wages decreasing in productivity; (iii) a negative relation between unemployment and residual wage dispersion and (iv) positive relation between productivity dispersion and residual wage dispersion. To assess these empirical predictions, I calibrate the model to match the mean and variance of the log wages in CPS data 1985-2006. The model's predictions are strongly supported in the data.
Author : International Monetary Fund
Publisher : INTERNATIONAL MONETARY FUND
ISBN 13 : 9781451860832
Total Pages : 0 pages
Book Rating : 4.8/5 (68 download)
Download or read book Alternative Models of Wage Dispersion written by International Monetary Fund and published by INTERNATIONAL MONETARY FUND. This book was released on 2005-03-01 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We analyze labor market models where the law of one price does not hold-that is, models with equilibrium wage dispersion. We begin by assuming workers are ex ante heterogeneous, and highlight a flaw with this approach: if search is costly, the market shuts down. We then assume workers are homogeneous, but matches are ex post heterogeneous. This model is robust to search costs, and it delivers equilibrium wage dispersion. However, we prove the law of two prices holds: generically, we cannot get more than two wages. We explore several other models, including one combining ex ante and ex post heterogeneity, which is robust and can deliver more than two-point wage distributions.
Author : Mr.Alun H. Thomas
Publisher : International Monetary Fund
ISBN 13 : 1451851103
Total Pages : 36 pages
Book Rating : 4.4/5 (518 download)
Download or read book Wage Dispersion in the 1980's written by Mr.Alun H. Thomas and published by International Monetary Fund. This book was released on 1995-09-01 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper finds that changes in durable manufacturing employment and investment in computer equipment can explain rising wage dispersion in the United States, measured in terms of the education premium. Reduced employment opportunities in durables production drive down the average wage for workers with only a high school education, thereby increasing the wage premium for college education. An innovation in this paper is the inclusion of investment in equipment as a proxy for skill-biased technical change. The rise in the technical skill premium could alone explain all of the rise in the college premium since 1979 were there no offsetting effects. This is a Paper on Policy Analysis and Assessment and the author(s) would welcome any comments on the present text Citations should refer to a Paper on Policy Analysis and Assessment of the International Monetary Fund, mentioning the author(s) and the date of issuance. The views expressed are those of the author(s) and do not necessarily represent those of the Fund.
