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technology constant we find mixed results for trade. Effects of trade on real wages are generally insignificant once time effects … change in structure. This paper seeks to fill the gap by study- ing the impact of domestic technology, foreign technology and … trade on U.S. wages. The standard model of general equilibrium presented shows that each effect tends to be opposite in sign …
Persistent link: https://www.econbiz.de/10012472884
We constructed a time series of menu prices for the identifiable restaurants at which James Bond dined in France and the UK that yields one of the few international price series representing luxury services. This series enabled us to calculate a real exchange rate based on prices pertinent to...
Persistent link: https://www.econbiz.de/10012660093
This paper examines the effect of earnings taxes on the variability of wages over time. We estimate a "hedonic wage … and temporal variation of hourly wages. On the basis of these utility function parameters, we predict that lowering the …
Persistent link: https://www.econbiz.de/10012477811
This paper investigates an economy in which there are short-term wage contracts that are re-negotiated under certain conditions. This paper determines the optimal frequency of wage re-negotiation and shows that it depends positively on measures of aggregate variability and Phillips curve slope....
Persistent link: https://www.econbiz.de/10012477817
This paper argues that rigid wages cannot provide the underpinnings of a universally valid theory of the business cycle …, simply because wages are not universally rigid. Several different statistical techniques suggest that wage rates in the U … greater flexibility in wages, these two countries also exhibit more stable employment behavior over the business cycle. In …
Persistent link: https://www.econbiz.de/10012478304
literature for over thirty years. The wages and employment o typographers are examined to see whether they can be usefully … characterized as the outcome of a process by which the union maximizes an objective function containing wages and employment and is … wages and employment of these workers compared with our more general formulation …
Persistent link: https://www.econbiz.de/10012478563
they face and their family structure. We study wage risk in the UK and show that the persistence and riskiness of wages … alternative processes for wages: a canonical one and a flexible one that allows for the much richer dynamics that we document in …
Persistent link: https://www.econbiz.de/10012482512
declining membership numbers, unions are able to raise wages substantially over the equivalent non-union wage. Unions in other …, are also able to raise wages by significant amounts. In countries where union wage settlements frequently spill over into …
Persistent link: https://www.econbiz.de/10012469308
This paper examines the consumption response to monthly paycheck receipt. Since the amount and arrival date of paychecks are known in advance, the receipt of a paycheck does not coincide with the receipt of new information. Under the basic rational expectations Life-Cycle/Permanent Income...
Persistent link: https://www.econbiz.de/10012469349
This paper examines whether the sector bias of skill-biased technical change (sbtc) explains changing skill premia within countries in recent decades. First, using a two-factor, two-sector, two-country model we demonstrate that in many cases it is the sector bias of sbtc that determines sbtc's...
Persistent link: https://www.econbiz.de/10012472244