Time Variation In Us Wage Dynamics

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Time Variation in U.S. Wage Dynamics

Author : Boris Hofmann
Publisher :
ISBN 13 :
Total Pages : 30 pages
Book Rating : 4.:/5 (65 download)

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Book Synopsis Time Variation in U.S. Wage Dynamics by : Boris Hofmann

Download or read book Time Variation in U.S. Wage Dynamics written by Boris Hofmann and published by . This book was released on 2010 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper explores time variation in the dynamic effects of technology shocks on U.S. output, prices, interest rates as well as real and nominal wages. The results indicate considerable time variation in U.S. wage dynamics that can be linked to the monetary policy regime. Before and after the "Great Inflation", nominal wages moved in the same direction as the (required) adjustment of real wages, and in the opposite direction of the price response. During the "Great Inflation", technology shocks in contrast triggered wage-price spirals, moving nominal wages and prices in the same direction at longer horizons, thus counteracting the required adjustment of real wages, amplifying the ultimate repercussions on prices and hence increasing inflation volatility. Using a standard DSGE model, we show that these stylized facts, in particular the estimated magnitudes, can only be explained by assuming a high degree of wage indexation in conjunction with a weak reaction of monetary policy to inflation during the "Great Inflation", and low indexation together with aggressive inflation stabilization of monetary policy before and after this period. This means that the monetary policy regime is not only captured by the parameters of the monetary policy rule, but importantly also by the degree of wage indexation and resultant second round effects in the labor market. Accordingly, the degree of wage indexation is not structural in the sense of Lucas (1976).

Understanding U.S. Wage Dynamics

Author : Mr.Yasser Abdih
Publisher : International Monetary Fund
ISBN 13 : 1484363574
Total Pages : 34 pages
Book Rating : 4.4/5 (843 download)

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Book Synopsis Understanding U.S. Wage Dynamics by : Mr.Yasser Abdih

Download or read book Understanding U.S. Wage Dynamics written by Mr.Yasser Abdih and published by International Monetary Fund. This book was released on 2018-06-15 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper, we undertake empirical analysis to understand U.S. wage behavior since the beginning of the new millennium. At the macroeconomic level, we find that a productivity-augmented Phillips curve model explains the data fairly well. The model reveals that the upward pressure on wage growth from recent tightening in the labor market has been dampened by a persistent decline in trend labor productivity growth and the share of income that accrues to labor. These themes are reinforced and complemented at the micro-economic level. Lower regional unemployment puts an upward pressure on wages of individuals, although this effect has become weaker since 2008. But there is downward pressure on wages for individuals with occupations that are exposed to automation and offshoring, and in industries with a higher concentration of large firms. All these factors appear to play a role illustrating why it is difficult to single out any one culprit for the observed wage growth moderation.

Employment Turnover and Wage Dynamics in U.S. Manufacturing, 1932-1972

Author : John Geweke
Publisher :
ISBN 13 :
Total Pages : 526 pages
Book Rating : 4.:/5 (319 download)

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Book Synopsis Employment Turnover and Wage Dynamics in U.S. Manufacturing, 1932-1972 by : John Geweke

Download or read book Employment Turnover and Wage Dynamics in U.S. Manufacturing, 1932-1972 written by John Geweke and published by . This book was released on 1975 with total page 526 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Time Variation in the Dynamics of Worker Flows

Author : Michele Campolieti
Publisher :
ISBN 13 :
Total Pages : 36 pages
Book Rating : 4.:/5 (854 download)

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Book Synopsis Time Variation in the Dynamics of Worker Flows by : Michele Campolieti

Download or read book Time Variation in the Dynamics of Worker Flows written by Michele Campolieti and published by . This book was released on 2011 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Understanding U.S. Wage Dynamics

Author : Mr.Yasser Abdih
Publisher : International Monetary Fund
ISBN 13 : 148436208X
Total Pages : 34 pages
Book Rating : 4.4/5 (843 download)

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Book Synopsis Understanding U.S. Wage Dynamics by : Mr.Yasser Abdih

Wage Dynamics and Returns to Unobserved Skill

Author : Lance Lochner
Publisher :
ISBN 13 :
Total Pages : 47 pages
Book Rating : 4.:/5 (12 download)

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Book Synopsis Wage Dynamics and Returns to Unobserved Skill by : Lance Lochner

Download or read book Wage Dynamics and Returns to Unobserved Skill written by Lance Lochner and published by . This book was released on 2018 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economists disagree about the factors driving the substantial increase in residual wage inequality in the U.S. over the past few decades. We identify and estimate a general model of log wage residuals that incorporates: (i) changing returns to unobserved skills, (ii) a changing distribution of unobserved skills, and (iii) changing volatility in wages due to factors unrelated to skills. Using data from the PSID, we estimate that the returns to unobserved skills have declined by as much as 50% since the mid-1980s despite a sizable increase in residual inequality. Instead, the variance of skills rose over this period due to increasing variability in life cycle skill growth. Finally, we develop an assignment model of the labor market and show that both demand and supply factors contributed to the downward trend in the returns to skills over time, with demand factors dominating for non-college-educated men.

US Wage and Price Dynamics

Author :
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (836 download)

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Book Synopsis US Wage and Price Dynamics by :

Download or read book US Wage and Price Dynamics written by and published by . This book was released on 2006 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Entrepreneurial Wage Dynamics in the Knowledge Economy

Author : Adam K. Korobow
Publisher : Springer Science & Business Media
ISBN 13 : 1461511216
Total Pages : 134 pages
Book Rating : 4.4/5 (615 download)

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Book Synopsis Entrepreneurial Wage Dynamics in the Knowledge Economy by : Adam K. Korobow

Download or read book Entrepreneurial Wage Dynamics in the Knowledge Economy written by Adam K. Korobow and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 134 pages. Available in PDF, EPUB and Kindle. Book excerpt: The role that small firms and entrepreneurship play in economic development has been particularly contentious. Joseph Schumpeter (1911), in his early work, argued that through a process of "creative destruction," small and new firms would serve as agents of change and a catalyst for innovation and growth. But, he later rescinded this view, instead concluding that large corporations were the engines of growth. Just as it seemed that a consensus had emerged among scholars and policy makers that small business was at best superfluous and at worst a drag on growth and economic development, David Birch provided evidence that, in fact, small firms were the engines of job creation. The early skepticism of challenge to Birch's findings revolved around methodology and measurement. However, a wave of subsequent studies by different authors, spanning different time periods, sectors, and even countries, generally confirmed Birch's original findings-for most developed countries and in most time periods, small business has provided most of the job creation.

The Economics of Overtime Working

Author : Robert A. Hart
Publisher : Cambridge University Press
ISBN 13 : 9780521801423
Total Pages : 188 pages
Book Rating : 4.8/5 (14 download)

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Book Synopsis The Economics of Overtime Working by : Robert A. Hart

Download or read book The Economics of Overtime Working written by Robert A. Hart and published by Cambridge University Press. This book was released on 2004-08-26 with total page 188 pages. Available in PDF, EPUB and Kindle. Book excerpt: Comprehensive economic evaluation of overtime working includes theoretical, empirical and policy aspects based on international evidence.

Unequal We Stand

Author : Jonathan Heathcote
Publisher : DIANE Publishing
ISBN 13 : 1437934919
Total Pages : 61 pages
Book Rating : 4.4/5 (379 download)

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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.

The Economic and Fiscal Consequences of Immigration

Author : National Academies of Sciences, Engineering, and Medicine
Publisher : National Academies Press
ISBN 13 : 0309444454
Total Pages : 643 pages
Book Rating : 4.3/5 (94 download)

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Book Synopsis The Economic and Fiscal Consequences of Immigration by : National Academies of Sciences, Engineering, and Medicine

Download or read book The Economic and Fiscal Consequences of Immigration written by National Academies of Sciences, Engineering, and Medicine and published by National Academies Press. This book was released on 2017-07-13 with total page 643 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Economic and Fiscal Consequences of Immigration finds that the long-term impact of immigration on the wages and employment of native-born workers overall is very small, and that any negative impacts are most likely to be found for prior immigrants or native-born high school dropouts. First-generation immigrants are more costly to governments than are the native-born, but the second generation are among the strongest fiscal and economic contributors in the U.S. This report concludes that immigration has an overall positive impact on long-run economic growth in the U.S. More than 40 million people living in the United States were born in other countries, and almost an equal number have at least one foreign-born parent. Together, the first generation (foreign-born) and second generation (children of the foreign-born) comprise almost one in four Americans. It comes as little surprise, then, that many U.S. residents view immigration as a major policy issue facing the nation. Not only does immigration affect the environment in which everyone lives, learns, and works, but it also interacts with nearly every policy area of concern, from jobs and the economy, education, and health care, to federal, state, and local government budgets. The changing patterns of immigration and the evolving consequences for American society, institutions, and the economy continue to fuel public policy debate that plays out at the national, state, and local levels. The Economic and Fiscal Consequences of Immigration assesses the impact of dynamic immigration processes on economic and fiscal outcomes for the United States, a major destination of world population movements. This report will be a fundamental resource for policy makers and law makers at the federal, state, and local levels but extends to the general public, nongovernmental organizations, the business community, educational institutions, and the research community.

Communities in Action

Author : National Academies of Sciences, Engineering, and Medicine
Publisher : National Academies Press
ISBN 13 : 0309452961
Total Pages : 583 pages
Book Rating : 4.3/5 (94 download)

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Book Synopsis Communities in Action by : National Academies of Sciences, Engineering, and Medicine

Download or read book Communities in Action written by National Academies of Sciences, Engineering, and Medicine and published by National Academies Press. This book was released on 2017-04-27 with total page 583 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the United States, some populations suffer from far greater disparities in health than others. Those disparities are caused not only by fundamental differences in health status across segments of the population, but also because of inequities in factors that impact health status, so-called determinants of health. Only part of an individual's health status depends on his or her behavior and choice; community-wide problems like poverty, unemployment, poor education, inadequate housing, poor public transportation, interpersonal violence, and decaying neighborhoods also contribute to health inequities, as well as the historic and ongoing interplay of structures, policies, and norms that shape lives. When these factors are not optimal in a community, it does not mean they are intractable: such inequities can be mitigated by social policies that can shape health in powerful ways. Communities in Action: Pathways to Health Equity seeks to delineate the causes of and the solutions to health inequities in the United States. This report focuses on what communities can do to promote health equity, what actions are needed by the many and varied stakeholders that are part of communities or support them, as well as the root causes and structural barriers that need to be overcome.

Persistent Inequalities

Author : Howard Botwinick
Publisher : BRILL
ISBN 13 : 9004269592
Total Pages : 386 pages
Book Rating : 4.0/5 (42 download)

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Book Synopsis Persistent Inequalities by : Howard Botwinick

Download or read book Persistent Inequalities written by Howard Botwinick and published by BRILL. This book was released on 2017-11-20 with total page 386 pages. Available in PDF, EPUB and Kindle. Book excerpt: In contrast to orthodox theory, Howard Botwinick uses a classical Marxist analysis of real capitalist competition to show that substantial patterns of wage disparity among similar workers can persist despite high levels of competition in both capital and labor markets.

More Slack than Meets the Eye? Recent Wage Dynamics in Advanced Economies

Author : Mr.Gee Hee Hong
Publisher : International Monetary Fund
ISBN 13 : 1484345355
Total Pages : 44 pages
Book Rating : 4.4/5 (843 download)

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Book Synopsis More Slack than Meets the Eye? Recent Wage Dynamics in Advanced Economies by : Mr.Gee Hee Hong

Download or read book More Slack than Meets the Eye? Recent Wage Dynamics in Advanced Economies written by Mr.Gee Hee Hong and published by International Monetary Fund. This book was released on 2018-03-09 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: Nominal wage growth in most advanced economies remains markedly lower than it was before the Great Recession of 2008–09. This paper finds that the bulk of the wage slowdown is accounted for by labor market slack, inflation expectations, and trend productivity growth. In particular, there appears to be greater slack than meets the eye. Involuntary part-time employment appears to have weakened wage growth even in economies where headline unemployment rates are now at, or below, their averages in the years leading up to the recession.

Structural Models of Wage and Employment Dynamics

Author : Henning Bunzel
Publisher : Emerald Group Publishing
ISBN 13 : 0444520899
Total Pages : 613 pages
Book Rating : 4.4/5 (445 download)

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Book Synopsis Structural Models of Wage and Employment Dynamics by : Henning Bunzel

Download or read book Structural Models of Wage and Employment Dynamics written by Henning Bunzel and published by Emerald Group Publishing. This book was released on 2006-03-30 with total page 613 pages. Available in PDF, EPUB and Kindle. Book excerpt: Selected papers from a conference held in honour of Professor Dale T. Mortensen upon the occasion of his 65th birthday. It includes papers on some of Professor Dale T. Mortensen's current research topics, as well as additional theoretical papers, and micro- and macro-econometric papers.

The Fourth Industrial Revolution

Author : Klaus Schwab
Publisher : Currency
ISBN 13 : 1524758876
Total Pages : 192 pages
Book Rating : 4.5/5 (247 download)

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Book Synopsis The Fourth Industrial Revolution by : Klaus Schwab

Download or read book The Fourth Industrial Revolution written by Klaus Schwab and published by Currency. This book was released on 2017-01-03 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt: World-renowned economist Klaus Schwab, Founder and Executive Chairman of the World Economic Forum, explains that we have an opportunity to shape the fourth industrial revolution, which will fundamentally alter how we live and work. Schwab argues that this revolution is different in scale, scope and complexity from any that have come before. Characterized by a range of new technologies that are fusing the physical, digital and biological worlds, the developments are affecting all disciplines, economies, industries and governments, and even challenging ideas about what it means to be human. Artificial intelligence is already all around us, from supercomputers, drones and virtual assistants to 3D printing, DNA sequencing, smart thermostats, wearable sensors and microchips smaller than a grain of sand. But this is just the beginning: nanomaterials 200 times stronger than steel and a million times thinner than a strand of hair and the first transplant of a 3D printed liver are already in development. Imagine “smart factories” in which global systems of manufacturing are coordinated virtually, or implantable mobile phones made of biosynthetic materials. The fourth industrial revolution, says Schwab, is more significant, and its ramifications more profound, than in any prior period of human history. He outlines the key technologies driving this revolution and discusses the major impacts expected on government, business, civil society and individuals. Schwab also offers bold ideas on how to harness these changes and shape a better future—one in which technology empowers people rather than replaces them; progress serves society rather than disrupts it; and in which innovators respect moral and ethical boundaries rather than cross them. We all have the opportunity to contribute to developing new frameworks that advance progress.

Ask a Manager

Author : Alison Green
Publisher : Ballantine Books
ISBN 13 : 0399181822
Total Pages : 306 pages
Book Rating : 4.3/5 (991 download)

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Book Synopsis Ask a Manager by : Alison Green

Download or read book Ask a Manager written by Alison Green and published by Ballantine Books. This book was released on 2018-05-01 with total page 306 pages. Available in PDF, EPUB and Kindle. Book excerpt: From the creator of the popular website Ask a Manager and New York’s work-advice columnist comes a witty, practical guide to 200 difficult professional conversations—featuring all-new advice! There’s a reason Alison Green has been called “the Dear Abby of the work world.” Ten years as a workplace-advice columnist have taught her that people avoid awkward conversations in the office because they simply don’t know what to say. Thankfully, Green does—and in this incredibly helpful book, she tackles the tough discussions you may need to have during your career. You’ll learn what to say when • coworkers push their work on you—then take credit for it • you accidentally trash-talk someone in an email then hit “reply all” • you’re being micromanaged—or not being managed at all • you catch a colleague in a lie • your boss seems unhappy with your work • your cubemate’s loud speakerphone is making you homicidal • you got drunk at the holiday party Praise for Ask a Manager “A must-read for anyone who works . . . [Alison Green’s] advice boils down to the idea that you should be professional (even when others are not) and that communicating in a straightforward manner with candor and kindness will get you far, no matter where you work.”—Booklist (starred review) “The author’s friendly, warm, no-nonsense writing is a pleasure to read, and her advice can be widely applied to relationships in all areas of readers’ lives. Ideal for anyone new to the job market or new to management, or anyone hoping to improve their work experience.”—Library Journal (starred review) “I am a huge fan of Alison Green’s Ask a Manager column. This book is even better. It teaches us how to deal with many of the most vexing big and little problems in our workplaces—and to do so with grace, confidence, and a sense of humor.”—Robert Sutton, Stanford professor and author of The No Asshole Rule and The Asshole Survival Guide “Ask a Manager is the ultimate playbook for navigating the traditional workforce in a diplomatic but firm way.”—Erin Lowry, author of Broke Millennial: Stop Scraping By and Get Your Financial Life Together