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The European Labour Markets - Wage Norms in Europe - A Curse or Blessing?
Andersen, Torben - In: CESifo Forum 05 (2004) 1, pp. 31-33
Persistent link: https://www.econbiz.de/10011695748
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Tax progression and the wage curve
Hutton, John P.; Ruocco, Anna - 1998
This note derives a model of the wage curve, closely following Phelps (1994) and Campbell and Orszag (1998). Phelps discusses a variety of theoretical bases for a wae curve, the two major competing types being bargaining models and efficiency wage models, though Phelps prefers the term...
Persistent link: https://www.econbiz.de/10010305096
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Nominal Wage Contracts, Aggregate and Firm-Specific Uncertainty – How High is the Private Gain from Indexation?
Laséen, Stefan - 2000
In this paper I investigate to what extent firm-specific uncertainty affects the gain from indexation. Earlier studies have tried to explain wage rigidity by arguing that insiders face little layoff risk due to employment fluctuations caused by aggregate shocks. However, this analysis abstracts...
Persistent link: https://www.econbiz.de/10010321744
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Equilibrium Directed Search with Multiple Applications
Albrecht, James; Gautier, Pieter; Vroman, Susan - 2003
We analyse a model of equilibrium directed search in a large labour market. Each worker, observing the wages posted at all vacancies, makes a fixed, finite number of applications, a. We allow for the possibility of ex post competition should more than one vacancy want to hire the same worker....
Persistent link: https://www.econbiz.de/10010324801
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How Large are Search Frictions?
Gautier, Pieter A.; Teulings, Coen N. - 2003
This paper shows that we can normalize job and worker characteristics so that, without frictions,there exists a linear relationship between wages on the one hand and worker and job type indiceson the other. However, for five European countries and the United States we find strong evidencefor a...
Persistent link: https://www.econbiz.de/10010325036
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Human capital accumulation of salaried and self-employed workers
Kawaguchi, Daiji - 2001
Both human capital accumulation and Lazear contracts can explain the raising wage of salary/wage worker through job experience or tenure. To distinguish between these two effects, Lazear and Moore (1984) used self-employed workers' wage growth to partial out the effect of human capital...
Persistent link: https://www.econbiz.de/10010332515
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Economic Growth and the Dynamics of Wage Determination: A Micro Simulation Study of the Stability Consequences of Deficient Variation in Factor Prices and Micro Structures
Eliasson, Gunnar; Lindberg, Thomas - 1986
Swedish Manufacturing Industry is said to be technologically and commercially in good shape. While Swedish wage levels were higher than in all industrial countries in the mid-70s, wages - expressed in international currencies - have now dropped to a mid-position, and real rates of return are...
Persistent link: https://www.econbiz.de/10010334961
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Equilibrium Wage Arrears: A Theoretical and Empirical Analysis of Institutional Lock-In
Earle, John S.; Sabirianova, Klara Z. - 2000
We present a model of wage contract violation that implies a possibility of multiple equilibria in the level of arrears. Positive feedback arises because each employer's arrears affect the costs of late payment faced by other employers operating in the same labor market, resulting in a network...
Persistent link: https://www.econbiz.de/10010262404
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Labor Market Efficiency, Wages and Employment when Search Frictions Interact with Intrafirm Bargaining
Cahuc, Pierre; Wasmer, Etienne - 2001
In search of a macroeconomic theory of wage determination, the agnostic reader should be puzzled by the apparent … contradiction between two influential theories. On one hand, in the standard search-matching theory with wage bargaining, hiring … overemployment or to under-employment compared with the first-best. On the other hand, in Stole and Zwiebel?s theory of intrafirm …
Persistent link: https://www.econbiz.de/10010262510
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Directed Search with Multiple Job Applications
Galenianos, Manolis; Kirchner, Philipp A. - 2005
We develop an equilibrium directed search model of the labor market where workers can simultaneously apply for multiple jobs. The main result is that all equilibria exhibit wage dispersion despite the fact that workers and firms are homogeneous. Wage dispersion is driven by the simultaneity of...
Persistent link: https://www.econbiz.de/10010263143