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Wages in the business cycle: an empirical and methodological analysis
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ISBN: 0861876865 9780861876860 Year: 1987 Publisher: London

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Book
Globalisation, co-operation costs, and wage inequalities
Authors: ---
ISBN: 9058330117 9789058330116 Year: 1999 Volume: 152 152 Publisher: The Hague Central Planning Bureau

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Book
Alternative Models of Wage Dispersion.
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ISBN: 1462310486 1452795576 1282107755 9786613801104 1451906196 Year: 2005 Publisher: Washington, D.C. : International Monetary Fund,

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We analyze labor market models where the law of one price does not hold-that is, models with equilibrium wage dispersion. We begin by assuming workers are ex ante heterogeneous, and highlight a flaw with this approach: if search is costly, the market shuts down. We then assume workers are homogeneous, but matches are ex post heterogeneous. This model is robust to search costs, and it delivers equilibrium wage dispersion. However, we prove the law of two prices holds: generically, we cannot get more than two wages. We explore several other models, including one combining ex ante and ex post heterogeneity, which is robust and can deliver more than two-point wage distributions.


Book
Equilibrium Wage Dispersion : An Example.
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ISBN: 1451862792 1462383114 1451908156 9786613831361 1452742081 1283518910 Year: 2006 Publisher: Washington, D.C. : International Monetary Fund,

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Search models with posting and match-specific heterogeneity generate wage dispersion. Given K values for the match-specific variable, it is known that there are K reservation wages that could be posted, but generically never more than two actually are posted in equilibrium. What is unknown is when we get two wages, and which wages are actually posted. For an example with K = 3, we show equilibrium is unique; may have one wage or two; and when there are two, the equilibrium can display any combination of posted reservation wages, depending on parameters. We also show how wages, profits, and unemployment depend on productivity.


Book
Product Market Regulation and the Benefits of Wage Moderation
Authors: ---
ISBN: 1462381103 1452769338 1283307197 9786613823502 145190746X Year: 2005 Publisher: Washington, D.C. : International Monetary Fund,

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Euro-area real wages have decelerated sharply in the last 20 years, but this has not yet translated into visibly lower unemployment or faster growth. Weak output growth after such a cost shock is somewhat puzzling and has led some to question the benefits of wage moderation. By isolating structural from cyclical factors in a panel of industrial countries, I show that structurally slower real wage growth, that is, "wage moderation," does raise output growth and lower unemployment rates. However, I show that the impact on both variables depends crucially on product market regulation: weaker competition and barriers to entry mute the growth effects of structural real wage changes by allowing incumbent firms to appropriate larger rents. In this context, overly regulated product markets in the euro area are undermining the effects of labor market reforms on output and employment.

Efficiency wage models of the labor market
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ISBN: 0521321565 0521312841 0511559593 9780521321563 9780511559594 9780521312844 Year: 1986 Publisher: Cambridge

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One of the more troubling aspects of the ferment in macroeconomics that followed the demise of the Keynesian dominance in the late 1960s has been the inability of many of the new ideas to account for unemployment remains unexplained because equilibrium in most economic models occurs with supply equal to demand: if this equality holds in the labor market, there is no involuntary unemployment. Efficiency Wage Models of the Labor Market explores the reasons why there are labor market equilibria with employers preferring to pay wages in excess of the market-clearing wage and thereby explains involuntary unemployment. This volume brings together a number of the important articles on efficiency wage theory. The collection is preceded by a strong, integrative introduction, written by the editors, in which the hypothesis is set out and the variations, as described in subsequent chapters, are discussed.


Book
The Impact of Tradeon Wages : What If Countries Are Not Small?
Authors: --- ---
ISBN: 1451864159 1462327605 1451982992 9786613826480 1452706751 1283514036 Year: 2006 Publisher: Washington, D.C. : International Monetary Fund,

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This paper explores the effect of trade on the relative wage of less-skilled labor through its effect on world prices, which are typically exogenously given under the small open economy assumption. Using the 1995 international input-output data for APEC member countries, we numerically simulate a general equilibrium model to study the effects of abolishing existing tariffs under the assumption that each member country is large enough to affect the prices of goods and services produced in the region. We find that the responsiveness of prices plays an important role in easing a possible adverse effect of trade on relative wages.


Book
Aid Scaling Up : Do Wage Bill Ceilings Stand in the Way?
Authors: --- --- ---
ISBN: 1451863667 1462373011 1451909004 9786613825537 1452779406 1283513080 Year: 2006 Publisher: Washington, D.C. : International Monetary Fund,

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This paper assesses whether the scaling up of aid and the resulting increase in government spending that is needed to meet the Millennium Development Goals (MDGs) would be hampered by wage bill ceilings that are often part of government programs supported by the IMF's Poverty Reduction and Growth Facility (PRGF). Based on country case studies for 2003-05, the paper suggests that, in the past, wage bill ceilings have not restricted the use of available donor funds. Yet the paper offers a number of suggestions for further enhancing the flexibility of wage bill conditionality in PRGF-supported programs to respond to higher aid flows that may result in the future.

Keywords

Economic assistance -- Econometric models. --- Electronic books. -- local. --- International Monetary Fund. --- Labor policy -- Econometric models. --- Wages -- Econometric models. --- Wages --- Labor policy --- Economic assistance --- Econometric models. --- Economic aid --- Foreign aid program --- Foreign assistance --- Grants-in-aid, International --- International economic assistance --- International grants-in-aid --- Labor --- State and labor --- Compensation --- Departmental salaries --- Earnings --- Pay --- Remuneration --- Salaries --- Wage-fund --- Wage rates --- Working class --- Government policy --- Internationaal monetair fonds --- International monetary fund --- Economic policy --- International economic relations --- Conditionality (International relations) --- Income --- Labor costs --- Compensation management --- Cost and standard of living --- Prices --- Public Finance --- Fiscal Policy --- Foreign Aid --- National Government Expenditures and Welfare Programs --- Wages, Compensation, and Labor Costs: General --- Wage Level and Structure --- Wage Differentials --- Public Sector Labor Markets --- Employment --- Unemployment --- Intergenerational Income Distribution --- Aggregate Human Capital --- Aggregate Labor Productivity --- Incomes Policy --- Price Policy --- Labour --- income economics --- Civil service & public sector --- Public finance & taxation --- Public sector wages --- Wage adjustments --- Civil service reform --- Government wage bill --- Expenditure --- Civil service --- Ghana --- Income economics

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