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model in which rural-urban migration adjust to produce a positive relation between unemployment and wages across regions and … sectors, wages and unemployment are inversely related by the "wage curve". 7) Unions affect non-wage outcomes as well as wage … paid labor. 3) In many countries minimum wages "spill-over" to the unregulated sector, producing spikes in the wage …
Persistent link: https://www.econbiz.de/10005777656
general human capital training. It is shown that more productive firms provide more training and pay higher wages. …
Persistent link: https://www.econbiz.de/10010796538
We estimate the effect of new unionization on firms' equity value over the 1961-1999 period using a newly assembled sample of National Labor Relations Board (NLRB) representation elections matched to stock market data. Event-study estimates show an average union effect on the equity value of the...
Persistent link: https://www.econbiz.de/10005778127
Many firms encourage employees to own company stock through share plans that subsidize the price at favorable rates, but even so many employees do not buy shares. Using a new survey of employees in a multinational with a share ownership plan, we find considerable variation in joining among...
Persistent link: https://www.econbiz.de/10008531876
In countries where wages are primarily set by collective bargaining, the effects on unemployment of changes in the … relations. In this paper, we examine the role this quality of labor relations has played in the evolution of unemployment across … relations have experienced higher unemployment. This conclusion remains even after controlling for labor institutions. …
Persistent link: https://www.econbiz.de/10005830440
We study how growth of cities determines the growth of nations. Using a spatial equilibrium model and data on 220 US metropolitan areas from 1964 to 2009, we first estimate the contribution of each U.S. city to national GDP growth. We show that the contribution of a city to aggregate growth can...
Persistent link: https://www.econbiz.de/10011276435
This paper asks whether disclosing wages to the public changes wage setting at the top of the public sector income … mandate manager wages were already in the public domain. This decline was largely accomplished through nominal pay cuts. The … these sets of cities. Wages were cut irrespective of whether or not they were out of line with (measured) fundamentals …
Persistent link: https://www.econbiz.de/10010950896
Personnel economics drills deeply into the firm to study human resource management practices like compensation, hiring practices, training, and teamwork. Many questions are asked. Why should pay vary across workers within firms--and how "compressed" should pay be within firms? Should firms pay...
Persistent link: https://www.econbiz.de/10005085230
We consider how past, current, and future competition within an elimination tournament affect the probability that the stronger player wins. We present a two-stage model that yields the following main results: (1) a shadow effect--the stronger the expected future competitor, the lower the...
Persistent link: https://www.econbiz.de/10009372442
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/10005720621