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Labour Market Entry Conditions, Wages and Job Mobility 劳动力市场准入条件、工资和工作流动性
ERN: Wages; Intergenerational Income Distribution (Topic) Pub Date : 2010-05-01 DOI: 10.2139/ssrn.1635698
Ronald Bachmann, T. Bauer, Peggy Bechara
{"title":"Labour Market Entry Conditions, Wages and Job Mobility","authors":"Ronald Bachmann, T. Bauer, Peggy Bechara","doi":"10.2139/ssrn.1635698","DOIUrl":"https://doi.org/10.2139/ssrn.1635698","url":null,"abstract":"Economic conditions at the time of labour market entry can induce wage differentials between workers entering the labour market at different points in time. While the existence and persistence of these entry wage differentials are well documented, little is known about their interaction with employees' mobility behaviour. This paper contributes to this research area by analyzing the interaction between job mobility and entry wage differentials using German administrative data. The results suggest that labour market entrants earning less than the average starting wage are more likely to change jobs, directly from employer to employer as well as indirectly via an unemployment spell. In addition they are more likely to change occupation. Moreover, job mobility tends to reduce the effects of labour market entry conditions, implying that job mobility operates as an adjustment mechanism that mitigates entry wage differentials. These results hold not only for high-skilled, but also for medium-skilled and unskilled workers.","PeriodicalId":196465,"journal":{"name":"ERN: Wages; Intergenerational Income Distribution (Topic)","volume":"136 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2010-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124249998","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 16
Polarization Orderings of Income Distributions 收入分配的极化排序
ERN: Wages; Intergenerational Income Distribution (Topic) Pub Date : 2010-02-15 DOI: 10.1111/j.1475-4991.2009.00362.x
S. Chakravarty, C. D’Ambrosio
{"title":"Polarization Orderings of Income Distributions","authors":"S. Chakravarty, C. D’Ambrosio","doi":"10.1111/j.1475-4991.2009.00362.x","DOIUrl":"https://doi.org/10.1111/j.1475-4991.2009.00362.x","url":null,"abstract":"This paper considers an intermediate notion of polarization which is defined as a convex mix of relative and absolute concepts of polarization. While absolute polarization indices remain unchanged under equal absolute augmentation in all incomes, relative indices do not change under equiproportionate variations in all incomes. We then identify the class of intermediate polarization indices whose orderings of alternative income distributions agree with the rankings generated by intermediate polarization curves. The ranking relation developed is implemented by a simple graphical device. Finally, a numerical illustration of the results developed in the paper is provided using data from Southern European countries.","PeriodicalId":196465,"journal":{"name":"ERN: Wages; Intergenerational Income Distribution (Topic)","volume":"2009 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2010-02-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123916491","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 52
Modelling Heterogeneity and Dynamics in the Volatility of Individual Wages 个体工资波动的异质性和动态建模
ERN: Wages; Intergenerational Income Distribution (Topic) Pub Date : 2010-02-01 DOI: 10.2139/ssrn.1068882
Laura Hospido
{"title":"Modelling Heterogeneity and Dynamics in the Volatility of Individual Wages","authors":"Laura Hospido","doi":"10.2139/ssrn.1068882","DOIUrl":"https://doi.org/10.2139/ssrn.1068882","url":null,"abstract":"In this paper I consider a model for the heterogeneity and dynamics of the conditional mean and the conditional variance of standarized individual wages. In particular, I propose a dynamic panel data model with individual effects both in the mean and in a conditional ARCH type variance function. I posit a distribution for earning shocks and I build a modified likelihood function for estimation and inference in a fixed-T context. Using a newly developed bias-corrected likelihood approach makes it possible to reduce the estimation bias to a term of order 1 over T squared. The small sample performance of bias corrected estimators is investigated in a Monte Carlo simulation study. The simulation results show that the bias of the maximum likelihood estimator is substantially corrected for designs that are broadly calibrated to the PSID. The empirical analysis is conducted on data drawn from the 1968-1993 PSID. I find that it is important to account for individual unobserved heterogeneity and dynamics in the variance, and that the latter is driven by job mobility. I also find that the model explains the non-normality observed in logwage data. (This abstract was borrowed from another version of this item.)","PeriodicalId":196465,"journal":{"name":"ERN: Wages; Intergenerational Income Distribution (Topic)","volume":"42 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2010-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122449118","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 82
Endogenous Income Taxes and Indeterminacy in Dynamic Models: When Diamond Meets Ramsey Again 动态模型中的内生所得税和不确定性:当戴蒙德再次遇到拉姆齐时
ERN: Wages; Intergenerational Income Distribution (Topic) Pub Date : 2009-10-01 DOI: 10.2139/ssrn.2325925
Yan Chen, Yan Zhang
{"title":"Endogenous Income Taxes and Indeterminacy in Dynamic Models: When Diamond Meets Ramsey Again","authors":"Yan Chen, Yan Zhang","doi":"10.2139/ssrn.2325925","DOIUrl":"https://doi.org/10.2139/ssrn.2325925","url":null,"abstract":"This paper introduces fiscal increasing returns, through endogenous labor income tax rates as in Schmitt-Grohe and Uribe (1997), into the overlapping generations model with endogenous labor, consumption in both periods of life and homothetic preferences (e.g., Lloyd-Braga, Nourry and Venditti, 2007). We show that under numerical calibrations of the parameters, local indeterminacy can occur for distortionary tax rates that are empirically plausible for the U.S. economy, provided that the elasticity of capital-labor substitution and the wage elasticity of the labor supply are large enough, and the elasticity of intertemporal substitution in consumption is slightly greater than unity. These indeterminacy conditions are similar to those obtained within infinite horizon models and from this point of view, Diamond meets Ramsey again.","PeriodicalId":196465,"journal":{"name":"ERN: Wages; Intergenerational Income Distribution (Topic)","volume":"23 21 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2009-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129749127","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
Wages Are Flexible, Aren’t They? Evidence from Monthly Micro Wage Data 工资是灵活的，不是吗?来自月度微工资数据的证据
ERN: Wages; Intergenerational Income Distribution (Topic) Pub Date : 2009-07-16 DOI: 10.2139/ssrn.1433369
Patrick Lunnemann, L. Wintr
{"title":"Wages Are Flexible, Aren’t They? Evidence from Monthly Micro Wage Data","authors":"Patrick Lunnemann, L. Wintr","doi":"10.2139/ssrn.1433369","DOIUrl":"https://doi.org/10.2139/ssrn.1433369","url":null,"abstract":"his paper assesses the degree of wage flexibility in Luxembourg using an administrative data set on individual base wages covering the entire economy over the period 2001?2006 with monthly frequency. We find that the wage flexibility at the discretion of the firm is rather low once we limit measurement error and remove wage changes due to institutional factors (indexation, changes in statutory minimum wage, age and marital status). The so adjusted frequency of wage change lies between 5% and 7%. On average, wages change less often than consumer prices. In addition, less than one percent of (nominal) wages are cut both from month to month and from year to year. Given full automatic indexation of wages covering vast majority of employees in Luxembourg, wages appear to be subject to substantial downward real wage rigidity. Finally, wage changes tend to be highly synchronised as they are concentrated around the events of wage indexation and the month of January.","PeriodicalId":196465,"journal":{"name":"ERN: Wages; Intergenerational Income Distribution (Topic)","volume":"4 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2009-07-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115456912","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 59
Liquidity Constraints, Kinship Networks, and the Financing of Household Investment 流动性约束、亲属网络与家庭投资融资
ERN: Wages; Intergenerational Income Distribution (Topic) Pub Date : 2009-05-07 DOI: 10.2139/ssrn.2054943
Krislert Samphantharak, R. Townsend
{"title":"Liquidity Constraints, Kinship Networks, and the Financing of Household Investment","authors":"Krislert Samphantharak, R. Townsend","doi":"10.2139/ssrn.2054943","DOIUrl":"https://doi.org/10.2139/ssrn.2054943","url":null,"abstract":"We look at liquidity constraints and the financing of household investment in fixed assets. We find that rural households in our sample, especially the poor, seem to face liquidity constraints. The constraints are partially mitigated by kinship networks in the village. When we further analyze gift and borrowing transaction data, we find that the kinship effect for the poor households seem to be through both gifts and borrowings while the effect for the rich households is more likely to be from gifts and not from borrowing. Using the accounting distinction between the use of a stock of cash and the cash flow, we find that rich households finance investment from previously accumulated cash, i.e. they use internally generated funds, symptomatic of constraints in a pecking order literature. As a result, we argue that although investment-cash flow sensitivity implies liquidity constraints, the reverse is not guaranteed. Finally, we also find evidence consistent with the fact that the network effect may come in both direct channels (gifts and borrowing from people within village) and indirect channels (signal of quality by being a part of the network).","PeriodicalId":196465,"journal":{"name":"ERN: Wages; Intergenerational Income Distribution (Topic)","volume":"21 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2009-05-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131083385","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
A Dynamic Model of Tourism, Employment and Welfare: The Case of Hong Kong 旅游、就业和福利的动态模型:以香港为例
ERN: Wages; Intergenerational Income Distribution (Topic) Pub Date : 2009-04-27 DOI: 10.1111/j.1468-0106.2009.00441.x
C. Chao, B. Hazari, J. Laffargue, Eden S. H. Yu
{"title":"A Dynamic Model of Tourism, Employment and Welfare: The Case of Hong Kong","authors":"C. Chao, B. Hazari, J. Laffargue, Eden S. H. Yu","doi":"10.1111/j.1468-0106.2009.00441.x","DOIUrl":"https://doi.org/10.1111/j.1468-0106.2009.00441.x","url":null,"abstract":"The present paper uses a dynamic open-economy model with wage indexation to examine the impact of tourism on employment and welfare. Both short-run and long-run situations are analysed. It is well known that tourism converts non-traded goods into tradable goods. An increase in the demand for a non-traded good raises its relative price, which results in an expansion of the non-traded sector at the expense of the traded goods sector. This output shift raises labour employment in the short run. However, in the long run, the higher relative price leads to higher wages, resulting in a negative impact on labour employment. If the output effect is dominant, the expansion in tourism raises employment and welfare. However, under realistic conditions tourism may lower both labour employment and welfare due to rising costs. These results are demonstrated by simulating a dynamic model for the case of Hong Kong.","PeriodicalId":196465,"journal":{"name":"ERN: Wages; Intergenerational Income Distribution (Topic)","volume":"63 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2009-04-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126205951","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 27
The Dynamics of Labour's Income Shares and the Wage Curve - Phillips Curve Controversy 劳动收入份额动态与工资曲线-菲利普斯曲线之争
ERN: Wages; Intergenerational Income Distribution (Topic) Pub Date : 2009-01-25 DOI: 10.1111/j.1467-9485.2009.00472.x
J. Madsen
{"title":"The Dynamics of Labour's Income Shares and the Wage Curve - Phillips Curve Controversy","authors":"J. Madsen","doi":"10.1111/j.1467-9485.2009.00472.x","DOIUrl":"https://doi.org/10.1111/j.1467-9485.2009.00472.x","url":null,"abstract":"Based on a re-parameterised BlanchflowerOswald model this paper uses long macro-data from the OECD countries to discriminate between the Philips curve and the wage curve and examines whether there are any differences in wage dynamics between Europe and the United States. The evidence gives support for the Phillips curve and shows that wage dynamics are no different between the United States and Europe.","PeriodicalId":196465,"journal":{"name":"ERN: Wages; Intergenerational Income Distribution (Topic)","volume":"17 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2009-01-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124645590","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 3
On Artificial Structural Unemployment and Endogenous Minimum Wage 论人为结构性失业与内生最低工资
ERN: Wages; Intergenerational Income Distribution (Topic) Pub Date : 2008-12-15 DOI: 10.2139/ssrn.1316372
M. Dudek
{"title":"On Artificial Structural Unemployment and Endogenous Minimum Wage","authors":"M. Dudek","doi":"10.2139/ssrn.1316372","DOIUrl":"https://doi.org/10.2139/ssrn.1316372","url":null,"abstract":"We construct a novel model of equilibrium unemployment. Specifically, in a dynamic micro based model, we illustrate that rational and profit maximizing firms can choose to pay wages that exceed the market clearing level to restrict competition. Resulting unemployment and above market clearing wages are both shown to be a part of equilibrium and to persist idifinitely. In addition, we provide a new rationale for the prevalence of minimum wage legislation in most economies. In particular, we show that minimum wage regulation can be be universally favored by all producers while being resnted by employees.","PeriodicalId":196465,"journal":{"name":"ERN: Wages; Intergenerational Income Distribution (Topic)","volume":"51 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2008-12-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114680006","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Does Raising the Principal's Wage Improve the School's Outcomes? Quasi-Experimental Evidence from an Unusual Policy Experiment in Israel 提高校长工资能改善学校成绩吗?以色列不寻常政策实验的准实验证据
ERN: Wages; Intergenerational Income Distribution (Topic) Pub Date : 2008-12-01 DOI: 10.1111/j.1467-9442.2008.00555.x
Victor Lavy
{"title":"Does Raising the Principal's Wage Improve the School's Outcomes? Quasi-Experimental Evidence from an Unusual Policy Experiment in Israel","authors":"Victor Lavy","doi":"10.1111/j.1467-9442.2008.00555.x","DOIUrl":"https://doi.org/10.1111/j.1467-9442.2008.00555.x","url":null,"abstract":"This paper reports estimates of the causal effects of a 50 percent increase in the salary of headmasters of high schools in Israel. The results suggest that the program led to significant improvements in twelfth-grade students' academic achievements. However, the effect was relatively modest, comprising increases of about 5-10 percent in the school mean matriculation rate, average score and number of subjects and credit units taken in matriculation programs. Based on these results and the lack of evidence regarding the effect of increasing teachers' salary, it seems that priority should be given to paying higher wages to school principals. Copyright © The editors of the \"Scandinavian Journal of Economics\" 2008 .","PeriodicalId":196465,"journal":{"name":"ERN: Wages; Intergenerational Income Distribution (Topic)","volume":"106 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2008-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124775281","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 22
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