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Productivity and Wages : What Was the Productivity-Wage Link in the Digital Revolution of the Past, and What Might Occur in the AI Revolution of the Future?
Lazear, Edward P.; Shaw, Kathryn; Hayes, Grant E.; … - National Bureau of Economic Research - 2022
Wages have been spreading out across workers over time - or in other words, the 90th/50th wage ratio has risen over … calculations of productivity by skill level for the U.S., we show that the distributions of both wages and productivity have spread … exists, such that gains in aggregate productivity, or GDP per person, have resulted in higher wages for workers at the top …
Persistent link: https://www.econbiz.de/10013477226
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Productivity and Wages : Common Factors and Idiosyncrasies Across Countries and Industries
Lazear, Edward P. - 2019
-based explanations of wage changes consistent with increasing variance in wages as well as increases in mean wages as suggested by skill …
Persistent link: https://www.econbiz.de/10012480371
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Tenure and Output
Shaw, Kathryn - 2007
A key tenet of the theory of human capital is that investment in skills results in higher productivity. The previous literature has estimated the degree of investment in human capital for individuals by looking at individual wage growth as a proxy for productivity growth. In this paper, we have...
Persistent link: https://www.econbiz.de/10012464987
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Overconfidence and Occupational Choice
Lazear, Edward P. - 2016
A statistical theory of overconfidence is proposed and applied to the issue of occupational choice. Individuals who can choose whether to engage in an activity or not must estimate their performance. The estimates have error and that error has positive expectation among those who engage in the...
Persistent link: https://www.econbiz.de/10012456751
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Performance Pay and Productivity
Lazear, Edward P. - 1996
What happens when a firm switches from paying hourly wages to paying piece rates? The theory developed below predicts … worker-specific increase in productivity is passed on to workers in the form of higher wages …
Persistent link: https://www.econbiz.de/10012473170
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Outsourcing in a Global Economy
Grossman, Gene M. - 2002
We study the determinants of the location of sub-contracted activity in a general equilibrium model of outsourcing and trade. We model outsourcing as an activity that requires search for a partner and relationship-specific investments that are governed by incomplete contracts. The extent of...
Persistent link: https://www.econbiz.de/10012469987
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Unskilled Migration : A Burden or a Boon for the Welfare State
Razin, Assaf - 1999
In a static setup, migration of unskilled labor may be resisted by the entire native-born population because, being relatively low earners, migrants are net beneficiaries of the fiscal system. However, the paper shows that with a pay-as-you-go pension, an important pillar of the welfare state,...
Persistent link: https://www.econbiz.de/10012471787
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Migration and the Welfare State : A Dynamic Political-Economy Theory
Razin, Assaf - 2009
We develop a dynamic politico-economic theory of welfare state and immigration policies, featuring three groups of voters: skilled workers, unskilled workers, and old retirees. The welfare-state is modeled by a proportional tax on labor income to finance a demogrant in a balanced-budget manner...
Persistent link: https://www.econbiz.de/10012463052
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Income Distribution, Product Quality, and International Trade
Fajgelbaum, Pablo D. - 2009
We develop a framework for studying trade in vertically and horizontally differentiated products. In our model, consumers with heterogeneous incomes and tastes purchase a homogeneous good as well as making a discrete choice of quality and variety of a differentiated product. The distribution of...
Persistent link: https://www.econbiz.de/10012463321
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Migration and the welfare state : Dynamic Political-Economy Theory
Razin, Assaf - 2009
We develop a dynamic politico-economic theory of welfare state, featuring three groups of voters: skilled workers, unskilled workers, and old retirees. The welfare-state is modeled by a proportional tax on labor income to finance a demogrant in a balanced-budget manner to capture the essence of...
Persistent link: https://www.econbiz.de/10012463863