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This paper sheds new light on the effects of the minimum wage on employment from a two-sided theoretical perspective, in which firms' job offer and workers' job acceptance decisions are disentangled. Minimum wages reduce job offer incentives and increase job acceptance incentives. We show that...
Persistent link: https://www.econbiz.de/10010371904
As China implements reforms under the “new normal,” maintaining stability in the labor market is a priority. The country's demography and labor dynamics are changing, after benefitting in past decades from ample cheap labor. So far, the labor market appears to be resilient, even as growth...
Persistent link: https://www.econbiz.de/10013016606
Labor markets in the Western Balkan countries (Albania, Bosnia and Herzegovina, Kosovo, Macedonia, Montenegro, and Serbia) are characterized by some of the highest unemployment and low employment rates in Europe. We analyze the poor labor market outcomes in these countries by comparison with the...
Persistent link: https://www.econbiz.de/10013046311
The US economy has endured an exceptionally severe recession caused by the measures put in place to contain the spread of COVID-19. This occasional paper assesses the impact of this crisis on key labour market variables, such as (un-) employment, wages and productivity, and highlights the...
Persistent link: https://www.econbiz.de/10013264673
Job creation has lowered unemployment, but the Belgian labour market still faces many challenges. Employment rates remain low, reflecting barriers to finding a job such as low levels of skills and weak work incentives. In addition, the changing nature of work will require faster adaptation of...
Persistent link: https://www.econbiz.de/10012203307
The process of economic globalisation and liberalisation during the last two decades has reshaped the labour norms in India. As a result, the share of the informal workers in total employment has increased tremendously. During this period, a significant part of the incremental employment is...
Persistent link: https://www.econbiz.de/10010840444
Most economists maintain that the labor market in the United States (and elsewhere) is tight because unemployment rates are low and the Beveridge Curve (the vacancies-to-unemployment ratio) is high. They infer from this that there is potential for wage-push inflation. However, real wages are...
Persistent link: https://www.econbiz.de/10014078744
The US economy has endured an exceptionally severe recession caused by the measures put in place to contain the spread of COVID-19. This occasional paper assesses the impact of this crisis on key labour market variables, such as (un-)employment, wages and productivity, and highlights the...
Persistent link: https://www.econbiz.de/10014079702
Most economists maintain that the labor market in the United States is 'tight' because unemployment rates are low. They infer from this that there is potential for wage-push inflation. However, real wages are falling rapidly at present and, prior to that, real wages had been stagnant for some...
Persistent link: https://www.econbiz.de/10013361977
Most economists maintain that the labor market in the United States (and elsewhere) is 'tight' because unemployment rates are low and the Beveridge Curve (the vacancies-to-unemployment ratio) is high. They infer from this that there is potential for wage-push inflation. However, real wages are...
Persistent link: https://www.econbiz.de/10013342929