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The Relation Between Skill Levels And The Cyclical Variability Of Employment Hours And Wages
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Book Synopsis The Relation between Skill Levels and the Cyclical Variability of Employment, Hours, and Wages by : Eswar S. Prasad
Download or read book The Relation between Skill Levels and the Cyclical Variability of Employment, Hours, and Wages written by Eswar S. Prasad and published by . This book was released on 2008 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper uses micro panel data to examine differences in the cyclical variability of employment, hours, and real wages for skilled and unskilled workers. Contrary to conventional wisdom, we find that, at the aggregate level, skilled and unskilled workers are subject to essentially the same degree of cyclical variation in wages. However, important differences emerge in the patterns of employment and hours variation for skilled versus unskilled workers, especially when a college degree is used as a proxy for skills. We find that the quality of labor input per manhour tends to rise in recessions, thereby inducing a countercyclical bias in aggregate measures of the real wage. We also find substantial differences across industries in the cyclical variation of employment, hours, and wage differentials, which we interpret as indicative of important inter-industry differences in labor contracting.
Book Synopsis The Relation Between Skill Levels and the Cyclical Variability of Employment, Hours, and Wages by : Mr.Eswar Prasad
Download or read book The Relation Between Skill Levels and the Cyclical Variability of Employment, Hours, and Wages written by Mr.Eswar Prasad and published by International Monetary Fund. This book was released on 1993-05-01 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper uses micro panel data to examine differences in the cyclical variability of employment, hours, and real wages for skilled and unskilled workers. Contrary to conventional wisdom, we find that, at the aggregate level, skilled and unskilled workers are subject to essentially the same degree of cyclical variation in wages. However, important differences emerge in the patterns of employment and hours variation for skilled versus unskilled workers, especially when a college degree is used as a proxy for skills. We find that the quality of labor input per manhour tends to rise in recessions, thereby inducing a countercyclical bias in aggregate measures of the real wage. We also find substantial differences across industries in the cyclical variation of employment, hours, and wage differentials, which we interpret as indicative of important inter-industry differences in labor contracting.
Book Synopsis Skill Heterogeneity and Aggregation Bias Over the Business Cycle by : Mr.Eswar Prasad
Download or read book Skill Heterogeneity and Aggregation Bias Over the Business Cycle written by Mr.Eswar Prasad and published by International Monetary Fund. This book was released on 1995-11-01 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper extends the equilibrium business cycle framework to incorporate ex ante skill heterogeneity among workers. Consistent with the empirical evidence, skilled and unskilled workers in the model face the same degree of cyclical variation in real wages although unskilled workers are subject to substantially higher procyclical variation in employment. Systematic cyclical changes in the average skill level of employed workers are shown to induce bias in aggregate measures of cyclical variation in the labor input, productivity, and the real wage. The introduction of skill heterogeneity improves the model’s ability to match the empirical correlation between total hours and the real wage but the correlation between total hours and labor productivity remains higher than in the data.
Download or read book IMF Working Paper written by and published by . This book was released on 1996 with total page 830 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :Haoming Liu Publisher :London : Department of Economics, University of Western Ontario ISBN 13 : Total Pages :52 pages Book Rating :4.:/5 (318 download)
Book Synopsis Labor Quality and the Cyclicality of Real Wages by : Haoming Liu
Download or read book Labor Quality and the Cyclicality of Real Wages written by Haoming Liu and published by London : Department of Economics, University of Western Ontario. This book was released on 1997 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Charts and Graphs for "The Relation Between Skill Levels and the Cyclical Variability of Employment, Hours and Wages" by : Michael P. Keane
Download or read book Charts and Graphs for "The Relation Between Skill Levels and the Cyclical Variability of Employment, Hours and Wages" written by Michael P. Keane and published by . This book was released on 1991 with total page 16 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Created Unequal by : James K. Galbraith
Download or read book Created Unequal written by James K. Galbraith and published by University of Chicago Press. This book was released on 2000-12-15 with total page 390 pages. Available in PDF, EPUB and Kindle. Book excerpt: The strong U.S. economy in the late 1990s has validated the bold thesis of this book. Created Unequal shows that America's historically high inequality of pay and incomes is not the result of impersonal market forces such as technology or trade, but of bad economic policies over several decades and the poor performance they created. Featuring a new preface on the improvements since 1994, Created Unequal is a rousing book that reminds us we can reclaim our country through economic understanding, commonsense policy, and political action.
Book Synopsis Measuring the Cyclicality of Real Wages by : Gary Solon
Download or read book Measuring the Cyclicality of Real Wages written by Gary Solon and published by . This book was released on 1992 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the period since the 1960's, as in other periods, aggregate time series on real wages have displayed only modest cyclicality. Macroeconomists therefore have described weak cyclicality of real wages as a salient feature of the business cycle. Contrary to this conventional wisdom, our analysis of longitudinal microdata indicates that real wages have been substantially procyclical since the 1960's. We also find that the substantial procyclicality of men's real wages pertains even to workers that stay with the same employer and that women's real wages are less procyclical than men's. Numerous longitudinal studies besides ours have documented the substantial procyclicality of real wages, but none has adequately explained the discrepancy with the aggregate time series evidence. In accordance with a conjecture by Stockman (I983), we show that the true procyclicality of real wages is obscured in aggregate time series because of a composition bias: the aggregate statistics are constructed in a way that gives more weight to low-skill workers during expansions than during recessions. We conclude that, because real wages actually are much more procyclical than they appear in aggregate statistics, theories designed to explain the supposed weakness of real wage cyclicality may be unnecessary. and theories that predict substantially procyclical real wages become more credible.
Book Synopsis Employment Cost Index and Employee Benefits Survey by :
Download or read book Employment Cost Index and Employee Benefits Survey written by and published by . This book was released on 1995 with total page 16 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :United States. Congress. House. Committee on Banking, Currency and Housing. Subcommittee on Economic Stabilization Publisher : ISBN 13 : Total Pages :762 pages Book Rating :4.:/5 (327 download)
Book Synopsis Incomes Policy Legislation, 1975 by : United States. Congress. House. Committee on Banking, Currency and Housing. Subcommittee on Economic Stabilization
Download or read book Incomes Policy Legislation, 1975 written by United States. Congress. House. Committee on Banking, Currency and Housing. Subcommittee on Economic Stabilization and published by . This book was released on 1975 with total page 762 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Bulletin of the United States Bureau of Labor Statistics by :
Download or read book Bulletin of the United States Bureau of Labor Statistics written by and published by . This book was released on 1982 with total page 164 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Working Paper Series written by and published by . This book was released on 2001 with total page 518 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Discussion Paper written by and published by . This book was released on 1991-12 with total page 300 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :International Monetary Fund. Research Dept. Publisher :International Monetary Fund ISBN 13 :1451930852 Total Pages :196 pages Book Rating :4.4/5 (519 download)
Book Synopsis IMF Staff papers by : International Monetary Fund. Research Dept.
Download or read book IMF Staff papers written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 1993-01-01 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper uses microeconomic panel data to examine differences in the cyclical variability of employment, hours, and real wages for skilled and unskilled workers. Contrary to conventional wisdom, it finds that, at the aggregate level, skilled and unskilled workers are subject to the same degree of cyclical variation in wages. However, the quality of labor input is found to rise in recessions, inducing a countercyclical bias in aggregate measures of the real wage. The paper also finds substantial differences across industries in the cyclical variation of employment, hours, and wage differentials, indicating important interindustry differences in labor contracting.
Book Synopsis Advances in Macroeconomic Theory by : J. Drèze
Download or read book Advances in Macroeconomic Theory written by J. Drèze and published by Springer. This book was released on 2001-08-02 with total page 377 pages. Available in PDF, EPUB and Kindle. Book excerpt: Leading world scholars analyze a range of specific departures from general equilibrium theory which have significant implications for the macroeconomic analysis of both developed and developing economies. Jacques Drèze considers uncertainty and incomplete markets and Nobel Laureate Robert Solow relates growth theory to the macroeconomic framework. Other issues examined are the implications for macro-policy of new research, including Joseph Stiglitz's warning on the misplaced zeal for financial market liberalization which partly engendered the East Asian and Russian crises.
Book Synopsis The Economics of Non-Wage Labour Costs (Routledge Revivals) by : Bob Hart
Download or read book The Economics of Non-Wage Labour Costs (Routledge Revivals) written by Bob Hart and published by Routledge. This book was released on 2010-07-19 with total page 253 pages. Available in PDF, EPUB and Kindle. Book excerpt: Throughout the OECD, 30% of the average firm’s total labour costs comprises items which are other than direct remuneration. This reissue, first published in 1984, focuses upon these non-wage labour costs, which include; fringe-benefit payments, obligatory social-welfare contributions, holiday entitlements and expenditures on recruitment and training, seeking to make amends for the woeful lack of consideration given to these important factors in previous wage literature. The book focuses on two major areas of enquiry: firstly, the costs for the cyclical behaviour of employment, and secondly, the role of average working hours per employee in the firm’s overall allocation of labour services. The author begins with an empirical survey and costs breakdown, followed by extensive data on Japan, the UK, the USA and West Germany. The ensuing analysis considers the question as to why firms incur the various non-wages, and a comparative static factor demand model is constructed, which accommodates the major cost items.
Author :International Monetary Fund Publisher :International Monetary Fund ISBN 13 :1451813007 Total Pages :121 pages Book Rating :4.4/5 (518 download)
Book Synopsis Selected Euro-Area Countries by : International Monetary Fund
Download or read book Selected Euro-Area Countries written by International Monetary Fund and published by International Monetary Fund. This book was released on 2001-11-07 with total page 121 pages. Available in PDF, EPUB and Kindle. Book excerpt: Fiscal deficits and the public debt has grown throughout much of the postwar period in most industrialized countries under the pressure of rising public expenditure, a trend that has begun to reverse after 1992. A number of studies argue that fiscal consolidation in association with expenditure restraint, particularly reductions in primary current expenditure, has proved more durable historically. All in all, the fiscal consolidation essential to qualify for European Monetary Union is a major achievement but also a difficult process in the four countries (France, Germany, Italy, and Spain).
