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Author: John M. Abowd Publisher: Université de Montréal, Centre de recherche et développement en économique ISBN: Category : Business & Economics Languages : en Pages : 94
Book Description
We study a longitudinal sample of over one million French workers and over 500,000 employing firms. Real total annual compensation per worker is decomposed into components related to observable characteristics, worker heterogeneity, firm heterogeneity and residual variation. Except for the residual, all components may be correlated in an arbitrary fashion. At the level of the individual, we find that person-effects, especially those not related to observables like education, are the most important source of wage variation in France. Firm-effects, while important, are not as important as person-effects. At the level of firms, we find that enterprises that hire high-wage workers are more productive but not more profitable. They are also more capital and high-skilled employee intensive. Enterprises that pay higher wages, controlling for person-effects, are more productive and more profitable. They are also more capital intensive but are not more high-skilled labor intensive. We also find that person-effects explain 92% of inter-industry wage differentials.
Author: John M. Abowd Publisher: Université de Montréal, Centre de recherche et développement en économique ISBN: Category : Business & Economics Languages : en Pages : 94
Book Description
We study a longitudinal sample of over one million French workers and over 500,000 employing firms. Real total annual compensation per worker is decomposed into components related to observable characteristics, worker heterogeneity, firm heterogeneity and residual variation. Except for the residual, all components may be correlated in an arbitrary fashion. At the level of the individual, we find that person-effects, especially those not related to observables like education, are the most important source of wage variation in France. Firm-effects, while important, are not as important as person-effects. At the level of firms, we find that enterprises that hire high-wage workers are more productive but not more profitable. They are also more capital and high-skilled employee intensive. Enterprises that pay higher wages, controlling for person-effects, are more productive and more profitable. They are also more capital intensive but are not more high-skilled labor intensive. We also find that person-effects explain 92% of inter-industry wage differentials.
Author: OECD Publisher: OECD Publishing ISBN: 9264900225 Category : Languages : en Pages : 186
Book Description
Even though firms play a key role in shaping wages, wage inequality and the gender wage gap, firms have so far only featured to a limited extent in the policy debates around these issues. The evidence in this volume shows that around one third of overall wage inequality can be explained by gaps in pay between firms rather than differences in the level and returns to workers’ skills.
Author: Edward P. Lazear Publisher: University of Chicago Press ISBN: 0226470512 Category : Business & Economics Languages : en Pages : 473
Book Description
The distribution of income, the rate of pay raises, and the mobility of employees is crucial to understanding labor economics. Although research abounds on the distribution of wages across individuals in the economy, wage differentials within firms remain a mystery to economists. The first effort to examine linked employer-employee data across countries, The Structure of Wages:An International Comparison analyzes labor trends and their institutional background in the United States and eight European countries. A distinguished team of contributors reveal how a rising wage variance rewards star employees at a higher rate than ever before, how talent becomes concentrated in a few firms over time, and how outside market conditions affect wages in the twenty-first century. From a comparative perspective that examines wage and income differences within and between countries such as Denmark, Italy, and the Netherlands, this volume will be required reading for economists and those working in industrial organization.
Author: Fredrik Andersson Publisher: Russell Sage Foundation ISBN: 1610440102 Category : Business & Economics Languages : en Pages : 192
Book Description
For over a decade, policy makers have emphasized work as the best means to escape poverty. However, millions of working Americans still fall below the poverty line. Though many of these “working poor” remain mired in poverty for long periods, some eventually climb their way up the earnings ladder. These success stories show that the low wage labor market is not necessarily a dead end, but little research to date has focused on how these upwardly mobile workers get ahead. In Moving Up or Moving On, Fredrik Andersson, Harry Holzer, and Julia Lane examine the characteristics of both employees and employers that lead to positive outcomes for workers. Using new Census data, Moving Up or Moving On follows a group of low earners over a nine-year period to analyze the behaviors and characteristics of individuals and employers that lead workers to successful career outcomes. The authors find that, in general, workers who “moved on” to different employers fared better than those who tried to “move up” within the same firm. While changing employers meant losing valuable job tenure and spending more time out of work than those who stayed put, workers who left their jobs in search of better opportunity elsewhere ended up with significantly higher earnings in the long term—in large part because they were able to find employers that paid better wages and offered more possibilities for promotion. Yet moving on to better jobs is difficult for many of the working poor because they lack access to good-paying firms. Andersson, Holzer, and Lane demonstrate that low-wage workers tend to live far from good paying employers, making an improved transportation infrastructure a vital component of any public policy to improve job prospects for the poor. Labor market intermediaries can also help improve access to good employers. The authors find that one such intermediary, temporary help agencies, improved long-term outcomes for low-wage earners by giving them exposure to better-paying firms and therefore the opportunity to obtain better jobs. Taken together, these findings suggest that public policy can best serve the working poor by expanding their access to good employers, assisting them with job training and placement, and helping them to prepare for careers that combine both mobility and job retention strategies. Moving Up or Moving On offers a compelling argument about how low-wage workers can achieve upward mobility, and how public policy can facilitate the process. Clearly written and based on an abundance of new data, this book provides concrete, practical answers to the large questions surrounding the low-wage labor market.
Author: Jerome Gautie Publisher: Russell Sage Foundation ISBN: 1610446305 Category : Business & Economics Languages : en Pages : 508
Book Description
As global flows of goods, capital, information, and people accelerate competitive pressure on businesses throughout the industrialized world, firms have responded by reorganizing work in a variety of efforts to improve efficiency and cut costs. In the United States, where minimum wages are low, unions are weak, and immigrants are numerous, this has often lead to declining wages, increased job insecurity, and deteriorating working conditions for workers with little bargaining power in the lower tiers of the labor market. Low-Wage Work in the Wealthy World builds on an earlier Russell Sage Foundation study (Low-Wage America) to compare the plight of low-wage workers in the United States to five European countries—Denmark, France, Germany, the Netherlands, and the United Kingdom—where wage supports, worker protections, and social benefits have generally been stronger. By examining low-wage jobs in systematic case studies across five industries, this groundbreaking international study goes well beyond standard statistics to reveal national differences in the quality of low-wage work and the well being of low-wage workers. The United States has a high percentage of low-wage workers—nearly three times more than Denmark and twice more than France. Since the early 1990s, however, the United Kingdom, the Netherlands, and Germany have all seen substantial increases in low-wage jobs. While these jobs often entail much the same drudgery in Europe and the United States, quality of life for low-wage workers varies substantially across countries. The authors focus their analysis on the “inclusiveness” of each country’s industrial relations system, including national collective bargaining agreements and minimum-wage laws, and the generosity of social benefits such as health insurance, pensions, family leave, and paid vacation time—which together sustain a significantly higher quality of life for low-wage workers in some countries. Investigating conditions in retail sales, hospitals, food processing, hotels, and call centers, the book’s industry case studies shed new light on how national institutions influence the way employers organize work and shape the quality of low-wage jobs. A telling example: in the United States and several European nations, wages and working conditions of front-line workers in meat processing plants are deteriorating as large retailers put severe pressure on prices, and firms respond by employing low-wage immigrant labor. But in Denmark, where unions are strong, and, to a lesser extent, in France, where the statutory minimum wage is high, the low-wage path is blocked, and firms have opted instead to invest more heavily in automation to raise productivity, improve product quality, and sustain higher wages. However, as Low-Wage Work in the Wealthy World also shows, the European nations’ higher level of inclusiveness is increasingly at risk. “Exit options,” both formal and informal, have emerged to give employers ways around national wage supports and collectively bargained agreements. For some jobs, such as room cleaners in hotels, stronger labor relations systems in Europe have not had much impact on the quality of work. Low-Wage Work in the Wealthy World offers an analysis of low-wage work in Europe and the United States based on concrete, detailed, and systematic contrasts. Its revealing case studies not only provide a human context but also vividly remind us that the quality and incidence of low-wage work is more a matter of national choice than economic necessity and that government policies and business practices have inevitable consequences for the quality of workers’ lives. A Volume in the Russell Sage Foundation Case Studies of Job Quality in Advanced Economies
Author: Andrew Weiss Publisher: Princeton University Press ISBN: 140086206X Category : Political Science Languages : en Pages : 126
Book Description
Known for his seminal work in efficiency-wage theory, Andrew Weiss surveys recent research in the field and presents new results. He shows how wage schedules affect the kinds of workers a firm employs and how well those workers perform on the job. Using straightforward examples, he demonstrates how efficiency-wage theory can explain labor market outcomes and guide government policy. There is a separate section of applications to less developed countries. "Efficiency-wage models represent one of the most important developments in economic theory of recent years. They have, at last, provided integrated explanations both of macroeconomic phenomena, such as unemployment and wage rigidity, and microeconomic phenomena, such as wage dispersion. Weiss--one of the pioneers of efficiency-wage theory--provides here a masterful survey, a lucid and systematic and yet critical account of this rapidly developing branch of economics. This book should be required reading in all courses in macroeconomics."--Joseph Stiglitz, Stanford University "Efficiency Wages should be on the bookshelf of all labor and macroeconomists."--Lawrence H. Summers, Harvard University "A splendid monograph ... most readable... I will put it on my reading list."--Partha Dasgupta, Stanford University Originally published in 1991. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.
Author: Lloyd George Reynolds Publisher: New Haven : Yale University Press, 1956 [c1955] ISBN: Category : Business & Economics Languages : en Pages : 422
Author: John M. Abowd
Author: John M. Abowd
Author: John M. Abowd
Author: OECD
Author: Edward P. Lazear
Author: Fredrik Andersson
Author: Thomas F. Crossley
Author: Jerome Gautie
Author: Andrew Weiss
Author: Melvin Warren Reder
Author: Lloyd George Reynolds