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The US labour market has experienced a remarkable polarization in the 1980s and 1990s. Moreover, recent empirical work has documented a sharp increase in the wealth to income ratio in that period. Contemporary to these inequality trends, the US faced a fast technological catch-up as European...
Persistent link: https://www.econbiz.de/10010417976
This paper identifies globalization as a factor behind the rapid increase in executive compensation and inequality over … executive compensation, indicating that globalization is influencing compensation through pay-for-non-performance. Furthermore … firms with poor corporate governance, as one would expect if globalization has enhanced rent-capture opportunities. Overall …
Persistent link: https://www.econbiz.de/10011741873
Almost all of the literature about the growth of income inequality and the relationship between skilled and unskilled wages approaches the issue from the production side of general equilibrium (skill-biased technical change, international trade). Here, we add a role for income-dependent demand...
Persistent link: https://www.econbiz.de/10011663526
Using rich linked employer-employee data for (West) Germany between 1996 and 2014, we analyze the most important drivers of the recent rise in German wage dispersion and pin down the relative contribution of plant and worker characteristics. Moreover, we separately investigate the drivers of...
Persistent link: https://www.econbiz.de/10011933705
with globalization may be twin to each other. We provide statistical evidence of this so far neglected trade-off for a … sample of Indian manufacturing firms. -- globalization ; uncertainty ; training ; labor markets ; India …
Persistent link: https://www.econbiz.de/10008697164
I analyze the impact of a low-wage trade shock on manufacturing workers in a high-wage country, Denmark, and how they adjust to the shock over a decade across all potential adjustment margins, in the labor market and outside. My research illustrates the importance of industry-specific human...
Persistent link: https://www.econbiz.de/10011569615
expectations about future UK-EU relations. Studying its consequences provides new insights regarding the economic impacts of news …, there was little or no trade diversion away from the EU, implying that many of the anticipated long-run effects of Brexit … did not materialize before the new UK-EU trade relationship came into force in 2021. …
Persistent link: https://www.econbiz.de/10012806478
We build a heterogeneous-firms model with firm-specific wages and credit frictions to study the role of financial development for inequality in the global economy. If there are many small firms, better access to external funds reduces wage inequality and unemployment. In contrast, if there are...
Persistent link: https://www.econbiz.de/10011434439
and a novel domestic extensive margin. The domestic extensive margin allows identification of globalization and specific … effects of globalization and European integration. We find strong positive effects of globalization and also significant but … highly asymmetric effects of European integration in favor of more developed EU members. …
Persistent link: https://www.econbiz.de/10013285497
in the pre-euro EU. The results suggest that capital mobility and exchange rate market efficiency in Central Europe are … remarkably similar to conditions in the EU during the 1990s. …
Persistent link: https://www.econbiz.de/10011509413