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Understanding Increasing And Decreasing Wage Inequality
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Book Synopsis Understanding Increasing and Decreasing Wage Inequality by : Andrew B. Bernard
Download or read book Understanding Increasing and Decreasing Wage Inequality written by Andrew B. Bernard and published by . This book was released on 1998 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper uses data on inequality within U.S. states to test hypotheses about the sources of rising wage inequality during the 1970s and 1980s. State labor markets are found to respond to local demand shocks in the short and medium run and to national (industry) demand shocks only after long intervals. The measure of wage inequality employed in the paper is the (log) ratio of the weekly wage at the 90th percentile to that at the 10th percentile in the state after controlling for observable characteristics of the workers. Individual states are found to have very different levels and changes of inequality. For example, Pennsylvania and Georgia had the second lowest and ninth highest 90-10 ratios respectively in 1970. By 1990, Georgia's 90-10 ratio had fallen 4% while Pennsylvania's had risen 21%. This paper finds that changes in industrial composition, in particular the loss of durable manufacturing jobs, are strongly correlated with inequality increases
Book Synopsis The Impact of International Trade on Wages by : Robert C. Feenstra
Download or read book The Impact of International Trade on Wages written by Robert C. Feenstra and published by University of Chicago Press. This book was released on 2008-04-15 with total page 420 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the early 1980s, the U.S. economy has experienced a growing wage differential: high-skilled workers have claimed an increasing share of available income, while low-skilled workers have seen an absolute decline in real wages. How and why this disparity has arisen is a matter of ongoing debate among policymakers and economists. Two competing theories have emerged to explain this phenomenon, one focusing on international trade and labor market globalization as the driving force behind the devaluation of low-skill jobs, and the other focusing on the role of technological change as a catalyst for the escalation of high-skill wages. This collection brings together innovative new ideas and data sources in order to provide more satisfying alternatives to the trade versus technology debate and to assess directly the specific impact of international trade on U.S. wages. This timely volume offers a thorough appraisal of the wage distribution predicament, examining the continued effects of technology and globalization on the labor market.
Book Synopsis Uneven Tides by : Sheldon H. Danziger
Download or read book Uneven Tides written by Sheldon H. Danziger and published by Russell Sage Foundation. This book was released on 1992-12-17 with total page 299 pages. Available in PDF, EPUB and Kindle. Book excerpt: Inequality has been on the rise in America for more than two decades. This socially divisive trend began in the economic doldrums of the 1970s and continued through the booming 1980s, when surging economic tides clearly failed to lift all ships. Instead, escalating inequality in both individual earnings and family income widened the gulf between rich and poor and led to the much-publicized decline of the middle class. Uneven Tides brings together a distinguished group of economists to confront the crucial questions about this unprecedented rise in inequality. Just how large and pervasive was it? What were its principal causes? And why did it continue in the 1980s, when previous periods of national economic growth have generally reduced inequality? Reviewing the best current evidence, the essays in Uneven Tides show that rising inequality is a complex phenomenon, the result of a web of circumstances inherent in the nation's current industrial, social, and political situation. Once attributed to the rising supply of inexperienced workers—as baby boomers, new immigrants, and women entered the labor market—the growing inequality in individual earnings is revealed in Uneven Tides to be the direct result of the economy's increasing demand for skilled workers. The authors explore many of the possible causes of this trend, including the employment shift from manufacturing to the service sector, the heightened importance of technology in the workplace, the decline of unionization, and the intensified efforts to compete in a global marketplace. Uneven Tides also examines the equally dramatic growth in the inequality of family income, and reviews the effects of family size, the age and education of household heads, and the transition to both two-earner and single-parent families. Although these demographic shifts played a role, what emerges most clearly is an understanding of the powerful influence of public policy, as increasingly regressive taxes, declining welfare benefits, and a stagnant minimum wage continue to amplify the effects of market forces on income. With the rise in inequality now much in the headlines, it is clear that our nation's ability to reverse these shifting currents requires deeper understanding of their causes and consequences. Uneven Tides is the first book to get beyond the news stories to a clear analysis of the changing fortunes of America's families. It should be required reading for anyone with a serious interest in the economic underpinnings of the country's social problems.
Book Synopsis Understanding Wage Inequality by : Ch'ŏl Chŏng
Download or read book Understanding Wage Inequality written by Ch'ŏl Chŏng and published by 대외경제정책연구원. This book was released on 2007 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the trend of the wage inequality and the metropolitan wage premium in the United States during the 1980s. Two distinct sets of literature documented that the wage inequality between skilled and unskilled workers and the metropolitan wage premium have risen significantly during the decade. When we combine these two sets of evidence and consider the interaction between skill and location, however, the increasing trends of the skill wage gap and the metropolitan wage premium almost disappear. Most of the dynamic changes are picked up by the interaction term, an extra metropolitan wage premium for skill, which rises significantly over the decade. As a partial explanation we find an increasing trend of the skill wage inequality across industries and occupations within metropolitan areas relative to non-metropolitan areas. This finding suggests that the skill biased technology alone may not sufficiently explain the growing wage inequality and it can be interpreted as a metropolitan specific phenomenon to an extent.
Book Synopsis Wage Inequality in Latin America by : Julián Messina
Download or read book Wage Inequality in Latin America written by Julián Messina and published by World Bank Publications. This book was released on 2017-12-28 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt: What caused the decline in wage inequality of the 2000s in Latin America? Looking to the future, will the current economic slowdown be regressive? Wage Inequality in Latin America: Understanding the Past to Prepare for the Future addresses these two questions by reviewing relevant literature and providing new evidence on what we know from the conceptual, empirical, and policy perspectives. The answer to the fi rst question can be broken down into several parts, although the bottom line is that the changes in wage inequality resulted from a combination of three forces: (a) education expansion and its eff ect on falling returns to skill (the supply-side story); (b) shifts in aggregate domestic demand; and (c) exchange rate appreciation from the commodity boom and the associated shift to the nontradable sector that changed interfi rm wage diff erences. Other forces had a non-negligible but secondary role in some countries, while they were not present in others. These include the rapid increase of the minimum wage and a rapid trend toward formalization of employment, which played a supporting role but only during the boom. Understanding the forces behind recent trends also helps to shed light on the second question. The analysis in this volume suggests that the economic slowdown is putting the brakes on the reduction of inequality in Latin America and will likely continue to do so—but it might not actually reverse the region’s movement toward less wage inequality.
Book Synopsis Explaining Inequality by : Maurizio Franzini
Download or read book Explaining Inequality written by Maurizio Franzini and published by Routledge. This book was released on 2015-12-14 with total page 127 pages. Available in PDF, EPUB and Kindle. Book excerpt: Inequalities in incomes and wealth have increased in advanced countries, making our economies less dynamic, our societies more unjust and our political processes less democratic. As a result, reducing inequalities is now a major economic, social and political challenge. This book provides a concise yet comprehensive overview of the economics of inequality. Until recently economic inequality has been the object of limited research efforts, attracting only modest attention in the political arena; despite important advances in the knowledge of its dimensions, a convincing understanding of the mechanisms at its roots is still lacking. This book summarizes the topic and provides an interpretation of the mechanisms responsible for increased disparities. Building on this analysis the book argues for an integrated set of policies addressing the roots of inequalities in incomes and wealth Explaining Inequality will be of interest to students, researchers and practitioners concerned with inequality, economic and public policy and political economy.
Book Synopsis Rich Get Richer, The: American Wage, Wealth And Income Inequality by : Thomas Hyclak
Download or read book Rich Get Richer, The: American Wage, Wealth And Income Inequality written by Thomas Hyclak and published by World Scientific. This book was released on 2023-07-24 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt: Inequality of wages among workers and inequality of income and wealth among families and households has been rising steadily for the past half-century in the United States and other developed economies. However, the United States stands out for having the most unequal wage and income distributions to begin with and for experiencing the fastest rise in inequality over the following decades. While this has been a long-developing situation and the subject of academic interest for some time, it is only in the last decade or so that inequality has attracted considerable public attention and become a political issue. Inequality has also become a subject of renewed interest among economists, with a growing number of scholars engaged in the development of new databases and the analysis of the causes and effects of increased inequality.This book provides an overview of the economic analysis of wage, income and wealth inequality in the United States, with a focus on this recent research. It provides the reader with an understanding of the complex causes of rising inequality, the serious consequences that make rising inequality an issue for public policy, and the potential policy actions that might be taken to slow or reverse rising inequality. The author presents an economic and statistical analysis in clear non-technical language to allow the general reader or student in an undergraduate course to learn the insights that economists have gained into the issue of inequality in advanced economies.The book contends that rising wage inequality among workers and income and wealth inequality among families reflects the complex interaction of profound changes in the US economy over the last half-century. These are not limited to economic changes like new technology, increased globalization, changes in the internal structure of firms, and the rise of new growth sectors in tech, finance, and health care. Of additional critical importance are changes in public opinion and political platforms and policies that replaced the New Deal view of the economic role of government with a pro-business, free-market philosophy that has changed labor market policy in a direction promoting increased inequality. This major change in the environment raises important questions about the efficacy of policy proposals. An additionally intriguing issue is the ultimate impact of the financial crisis and the Covid-19 pandemic on perceptions of and support for government policies designed to reverse the seemingly inexorable trend toward greater inequality. This book traces the evolution of inequality over time through key concept illustrations and language that is easy enough to understand, even for the general reader.
Download or read book The Wage Gap written by Noël Merino and published by Greenhaven Publishing LLC. This book was released on 2014-06-06 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume's collected essays present issues related to the wage gap, including problems with the wage gap between men and women, the wage gap as a rich and poor problem, and the wage gap among races. Essays also debate whether education is key to reducing the wage gap. Students are encouraged to see the validity of divergent opinions, so that they may understand issues inclusively. Fact boxes are included to summarize important information for researchers.
Book Synopsis Understanding Economic Inequality by : Todd A. Knoop
Download or read book Understanding Economic Inequality written by Todd A. Knoop and published by Edward Elgar Publishing. This book was released on 2020-01-31 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Understanding Economic Inequality, the author brings an economist’s perspective informed by new, groundbreaking research on inequality from philosophy, sociology, psychology, and political science and presents it in a form that it is accessible to those who want to understand our world, our society, our politics, our paychecks, and our neighbors’ paychecks better.
Book Synopsis Earnings Inequality by : Robert H. Haveman
Download or read book Earnings Inequality written by Robert H. Haveman and published by American Enterprise Institute. This book was released on 1996 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: Analyses changes in men's earnings from the mid-1970s to 1991.
Book Synopsis The State of Working America 2006/2007 by : Lawrence R. Mishel
Download or read book The State of Working America 2006/2007 written by Lawrence R. Mishel and published by Comstock Publishing Associates. This book was released on 2007 with total page 448 pages. Available in PDF, EPUB and Kindle. Book excerpt: Praise for previous editions of The State of Working America: "The State of Working America remains unrivaled as the most-trusted source for a comprehensive understanding of how working Americans and their families are faring in today's economy."--Robert B. Reich"It is the inequality of wealth, argue the authors, rather than new technology (as some would have it), that is responsible for the failure of America's workplace to keep pace with the country's economic growth. The State of Working America is a well-written, soundly argued, and important reference book."--Library Journal "If you want to know what happened to the economic well-being of the average American in the past decade or so, this is the book for you. It should be required reading for Americans of all political persuasions."--Richard Freeman, Harvard University "A truly comprehensive and useful book that provides a reality check on loose statements about U.S. labor markets. It should be cheered by all Americans who earn their living from work."--William Wolman, former chief economist, CNBC's Business Week "The State of Working America provides very valuable factual and analytic material on the economic conditions of American workers. It is the very best source of information on this important subject."--Ray Marshall, University of Texas, former U.S. Secretary of Labor"An indispensable work . . . on family income, wages, taxes, employment, and the distribution of wealth."--Simon Head, The New York Review of Books "No matter what political camp you're in, this is the single most valuable book I know of about the state of America, period. It is the most referenced, most influential resource book of its kind."--Jeff Madrick, author, The End of Affluence "This book is the single best yardstick for measuring whether or not our economic policies are doing enough to ensure that our economy can, once again, grow for everybody."--Richard A. Gephardt "The best place to review the latest developments in changes in the distribution of income and wealth."--Lester ThurowThe State of Working America, prepared biennially since 1988 by the Economic Policy Institute, includes a wide variety of data on family incomes, wages, taxes, unemployment, wealth, and poverty-data that enable the authors to closely examine the effect of the economy on the living standards of the American people.
Book Synopsis What Does the Minimum Wage Do? by : Dale Belman
Download or read book What Does the Minimum Wage Do? written by Dale Belman and published by W.E. Upjohn Institute. This book was released on 2014-07-07 with total page 489 pages. Available in PDF, EPUB and Kindle. Book excerpt: Belman and Wolfson perform a meta-analysis on scores of published studies on the effects of the minimum wage to determine its impacts on employment, wages, poverty, and more.
Book Synopsis Complex Inequality by : Leslie McCall
Download or read book Complex Inequality written by Leslie McCall and published by Routledge. This book was released on 2002-06 with total page 254 pages. Available in PDF, EPUB and Kindle. Book excerpt: First published in 2001. Routledge is an imprint of Taylor & Francis, an informa company.
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 Inequality and Instability by : James K. Galbraith
Download or read book Inequality and Instability written by James K. Galbraith and published by OUP USA. This book was released on 2012-03-30 with total page 339 pages. Available in PDF, EPUB and Kindle. Book excerpt: Demonstrates that finance is the driveshaft that links inequality to economic instability.
Book Synopsis Does Tariff Liberalization Increase Wage Inequality? by : Branko Milanovi?
Download or read book Does Tariff Liberalization Increase Wage Inequality? written by Branko Milanovi? and published by World Bank Publications. This book was released on 2005 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: The objective of the paper is to answer an often-asked question : if tariff rates are reduced, what will happen to wage inequality ? We consider two types of wage inequality : between occupations (skills premium), and between industries. We use two large data bases of wage inequality that have become recently available and a large dataset of average tariff rates all covering the period between 1980 and 2000. We find that tariff reduction is associated with higher inter-occupational and inter-industry inequality in poorer countries (those below the world median income) and the reverse in richer countries. The results for inter-occupational inequality though must be treated with caution.
Book Synopsis The Causes and Consequences of Increasing Inequality by : Finis Welch
Download or read book The Causes and Consequences of Increasing Inequality written by Finis Welch and published by University of Chicago Press. This book was released on 2001-06-15 with total page 386 pages. Available in PDF, EPUB and Kindle. Book excerpt: Despite the economic boom of the 1990s, the gap between the wealthy and the poor in the United States is growing larger. While ample evidence exists to validate perceived trends in wage, income, and overall wealth disparity, there is little agreement on the causes of such inequality and what might be done to alleviate it. This volume draws together a panel of distinguished scholars who address these issues in terms comprehensible to noneconomists. Their findings are surprising, suggesting that factors such as trade imbalances, immigration rates, and differences in educational resources do not account for recent increases in the inequality of wealth and earnings. Rather, the contributors maintain that these discrepancies can be attributed to workplace demand for high-skilled labor. They also insist that further research must examine the organization of industry in order to better understand the concurrent devaluation of manual labor. Addressing a topic that is of considerable public interest, this collection helps move the issue of increasing economic inequality in America to the center of the public policy arena. Contributors: Donald R. Deere, Claudia Goldin, Lawrence F. Katz, James P. Smith, Franco Peracchi, Gary Solon, Eric A. Hanushek, Julie A. Somers, Marvin H. Kosters, William Cline, Finis Welch, Angus Deaton, Charles Murray, Kevin Murphy
