Documents wages 2 605 results

"At first blush, most advances in labor demand were achieved by the late 1980s. Since then progress might appear to have stalled. We argue to the contrary that significant progress has been made in understanding labor market frictions and imperfections, and in modeling search behavior and heterogeneous preferences. Perhaps most notable have been the improvements in data, in the form of longitudinal matched employer–employee data, and in techniques and algorithms (e.g. for solving heterogeneous parameter models). In short, the Cinderella status of the field is frankly overdrawn. Nevertheless, a chief lacuna remains the need for a better match between theory and data. This paper provides a critical albeit eclectic assessment of these developments, along the dimensions of the static and dynamic theory of labor demand, wage formation, and estimation, noting advances and limitations. As is conventional, somewhat greater emphasis is placed on the latter."

"International trade has been cited as a source of widening wage inequality in industrial nations. Most previous empirical evidence supports this claim by showing an effect in which increasing exports tilt demand towards firms which export and employ a relatively large proportion of higher-skilled workers from the group of firms which do not export. We find that, in addition to this, there is also an effect whereby, among exporting firms, there is a significant wage premium for high-skilled workers and a wage discount for low-skilled workers. These estimates are based on a matched employer–employee data set of western German manufacturing firms over the period 1993–2007. Our estimates suggest that export activity can be associated with up to 30% of within and between skill group wage inequality."

"We show the effects of trade cost reduction in the presence of a domestic firm's strategic output allocation between formal in-house production and subcontracting to the informal sector. Considering a one-way trade, we show that trade cost reduction increases the in-house unionised wage, in-house employment, union utility, the formal–informal wage gap and consumer surplus, it reduces informal production and the profit of the domestic firm, and it creates an ambiguous effect on welfare. Whether trade cost reduction increases the income gap between the domestic producer and the labour union is ambiguous, and depends on the trade cost and the cost of subcontracting. Considering a two-way trade with symmetric segmented markets, we show that a symmetric trade cost reduction reduces the domestic unionised wage, domestic in-house employment, union utility, it increases informal production, consumer surplus and it creates ambiguous effects of the profits."

"In this paper, we analyze the impact of downward wage rigidity on the labor market dynamics. We shows that imposing downward wage rigidity in a matching model with cyclical fluctuations in productivity, endogenous match-destruction, and on-the-job search, quits are procyclical and layoffs countercyclical. Using the European Community Household Panel (ECHP), we provide evidence that downward wage rigidity is empirically relevant in ten European countries. Finally, we show that layoffs are countercyclical and quits are procyclical, as predicted by the model."

"This paper presents a growth model with two sectors. In the high-tech sector, R&D increases productivity and union–firm bargaining determines wages, but in the traditional sector there are neither R&D nor labour unions. The government is able to regulate union bargaining power. The main results are as follows. Because firms try to escape wage increases through the improvement of productivity by R&D, the increase in union bargaining power boosts R&D and growth. It is welfare enhancing to strengthen (weaken) unions when the growth rate is below (above) some critical level. A specific rule is presented for when de-unionization is socially desirable."

"In this paper we present empirical evidence on the relationship between board remuneration of a sample of large Spanish companies and a set of explanatory variables such as performance and size of the company. The objective is to provide additional empirical evidence based on the agency theory for the Spanish institutional context, which differs from most 'Anglo–Saxon' model studies. We focus on the impact of a company's governance structure on the relationship between pay and performance. Specifically, we consider ownership concentration and firm leverage as key determinants of the board–shareholders relationship. Our results confirm the positive relationship between board remuneration and company performance, which is stronger for book values than for stock market measures. Industry performance also explains the remuneration and provides useful information for evaluating board behaviour. Company size is also related to board remuneration and affects the pay–performance relationship, although it is not relevant when we use an elasticity approach. Finally, the governance structure of companies is relevant when explaining the power of the compensation–performance relationship, and differences between the impact of ownership concentration and firm leverage on this relationship are found."

"I salari nei primi anni 2000. Potere d'acquisto, contrattazione e produttività in Italia e in Europa: Il rapporto di quest'anno analizza le dinamiche fondamentali dell'economia e del lavoro e quelle della contrattazione nel tempo dell'euro, sia in Italia che in Europa, nel periodo compreso fra il 1998 e il 2004. In Italia la conclamata incapacità del governo di centro-destra di guidare il paese verso l'uscita dalla crisi più pesante degli ultimi decenni consegna al sindacalismo confederale, al sistema delle imprese, alle forze politiche del centrosinistra che credono nel valore della concertazione sociale l'inderogabile esigenza di definire un progetto per la rinascita nazionale e la dignità del lavoro.

This year's report analyses the fundamental dynamics of Economics and labour and those of bargaining over time of the euro, both in Italy and in Europe, in the period between 1998 and 2004. In Italy the blatant failure of the center-right Government to guide the country towards the exit from the crisis heavier Confederal syndicalism delivery in decades, the system of feats, the political forces of the centre left who believe in the value of social concertation the imperative need to establish a project for the national revival and the dignity of work."

"The topic of statutory minimum wage has gained new relevance in the recent years, also at European level. Most European countries already have schemes for statutory minimum wage, while this has been an alien concept in the Nordic context. The report provides an overview of the designs and effects of such schemes, and of how minimum wages are determined in the Nordic countries and in the few other EU countries that still have no statutory minimum wage. The report also looks into factors that can explain the diverse views on statutory minimum wage regulation and why Nordic trade unions have offered resistance towards European initiatives in this area."