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Díaz-Vázquez, Pilar; Snower, Dennis J. - 2002

Do firms reduce employment when their insiders (established, incumbent employees) claim higher wages? The conventional answer in the theoretical literature is that insider power has no influence on employment, provided that the newly hired employees (entrants) receive their reservation wages....

Persistent link: https://www.econbiz.de/10011411604

Unemployment invariance

Karanassou, Marika; Snower, Dennis J. - 2002

This paper provides a critique of the "unemployment invariance hypothesis", according to which the behavior of the labor market ensures that the long-run unemployment rate is independent of the size of the capital stock, productivity, and the labor force. Using Solow growth and endogenous growth...

Persistent link: https://www.econbiz.de/10011412072

From unemployment benefits to unemployment accounts

Orszag, Jonathan Michael; Snower, Dennis J. - 2002

We explore the implications of replacing current unemployment benefit (UB) systems by unemployment accounts (UA). Under the UA system, employed people would be required to make ongoing contributions to their unemployment accounts, and the balances in these accounts would then be available to...

Persistent link: https://www.econbiz.de/10011412084

The insider-outsider theory : a survey

Lindbeck, Assar; Snower, Dennis J. - 2002

This article is an idiosyncratic survey of the insider-outsider theory, describing the vision underlying the theory … been dead-ends and red herrings in past research. The first section deals with the theory, concerning how labor turnover … shocks. The second section deals with the insider-outsider theory in relation to two important economic institutions: unions …

Persistent link: https://www.econbiz.de/10011412195

Pension taxes versus early retirement rights

Orszag, Jonathan Michael; Snower, Dennis J. - 2002

This paper deals with two policy approaches to address the problem of the "pensions time bomb" by influencing private-sector pension provision. In assessing the role of private-sector pensions, it is common to concentrate exclusively on the issue of whether early retirement penalties or late...

Persistent link: https://www.econbiz.de/10011412356

Unemployment vouchers versus low-wage subsidies

Orszag, Jonathan Michael; Snower, Dennis J. - 2002

The paper examines the relative effectiveness of two policy proposals in reducing unemployment and working poverty: unemployment vouchers and low-wage subsidies. The unemployment vouchers are targeted exclusively at the unemployed (especially the longterm unemployed) and are provided only for a...

Persistent link: https://www.econbiz.de/10011412368

On-the-job training and the effects of insider power

Díaz-Vázquez, Pilar; Snower, Dennis J. - 2002

Suppose insiders use their market power to push up their wages, while entrants receive their reservation wages. How will employment be affected? In addressing this question, we focus on the role of on-the-job training. We show that an insider wage hike reduces recession-time employment but, in...

Persistent link: https://www.econbiz.de/10011413583