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Book Intertemporal Labor Supply and Long Term Employment Contracts

Download or read book Intertemporal Labor Supply and Long Term Employment Contracts written by John M. Abowd and published by . This book was released on 1986 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper we compare the implications of a symmetric information contracting model and a dynamic labor supply model for changes in individual earnings and hours over time. The critical distinction between these models is whether earnings represent optimal consumption or payment for current labor services. We develop a simple test between labor supply and contracting models based on the relative variability of earnings and hours with respect to changes in productivity. If earnings represent consumption then changes in productivity generate smaller changes in earnings than hours. The opposite is true in the labor supply model. We apply our test to longitudinal data on male household heads fran the Panel Study of Income Dynamics and the National Longitudinal Survey of Older Men, focusing on individuals who do not change employers during the survey period. Neither model fits the data well. In both surveys, however, the contrihition of changes in productivity to changes in earnings is greater than the contribution to changes in hours. The data are more consistent with a labor supply interpretation, although the estimated labor supply elasticities suggest that changes in hours occur at fixed wage rates

Book Intertemporal Labor Supply and Long Term Employment Contracts

Download or read book Intertemporal Labor Supply and Long Term Employment Contracts written by John M. Abowd and published by . This book was released on 2010 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper we compare the implications of a symmetric information contracting model and a dynamic labor supply model for changes in individual earnings and hours over time. The critical distinction between these models is whether earnings represent optimal consumption or payment for current labor services. We develop a simple test between labor supply and contracting models based on the relative variability of earnings and hours with respect to changes in productivity. If earnings represent consumption then changes in productivity generate smaller changes in earnings than hours. The opposite is true in the labor supply model. We apply our test to longitudinal data on male household heads fran the Panel Study of Income Dynamics and the National Longitudinal Survey of Older Men, focusing on individuals who do not change employers during the survey period. Neither model fits the data well. In both surveys, however, the contrihition of changes in productivity to changes in earnings is greater than the contribution to changes in hours. The data are more consistent with a labor supply interpretation, although the estimated labor supply elasticities suggest that changes in hours occur at fixed wage rates.

Book Intertemporal Labor Supply and Long Term Employment Contracts

Download or read book Intertemporal Labor Supply and Long Term Employment Contracts written by and published by . This book was released on 1986 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Book Regulation of Fixed term Employment Contracts

Download or read book Regulation of Fixed term Employment Contracts written by Roger Blanpain and published by Kluwer Law International B.V.. This book was released on 2010-01-01 with total page 226 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent decades enterprises worldwide have reaped advantages of hiring employees on a contractual fixed-term basis, thus derogating from their traditional participation in the social protection of workers and insulating themselves from legal liability for unjust dismissal. A broad spectrum of effectiveness has emerged in this development, as different countries have adopted varying measures to regulate the conditions under which fixed- term employment contracts are written, applied, and interpreted. This important book --- which reprints papers submitted to the 10th Comparative Labour Law Seminar of the Japan Institute for Labour Policy and Training held in Tokyo on 8 and 9 March 2010 - details the regulatory approaches to fixed-term contracts in major industrial jurisdictions in Asia and Europe, providing an opportunity to explore normative directions for labour law and policy in the age of a diversified workforce. Nine Knowledgeable and experienced contributors describe and analyse the legal status of fixed-term employment contracts (including relevant case law) in Australia, Britain, China, France, Germany, Japan, Korea, Sweden, and Taiwan. Each author takes into account evaluations from scholars, policymakers, and stakeholders to his or her country's regulatory approach to fixed-term employment contracts, revealing an array of responses ranging from a view that such contracts enhance employment opportunities in society to advocating suppression of their use as inherently abusive and discriminatory. The combined effect of these nine essays is to greatly increase our awareness of the nature of fixed-term employment contracts, from their fundamental value as social policy instruments to their inextricable connection with the law of dismissal. The book sets the stage for deeper and more firmly grounded work that promises to elucidate the underlying pattern of a new employer-employee relationship emerging on a worldwide scale.

Book Labor Markets and Business Cycles

Download or read book Labor Markets and Business Cycles written by Robert Shimer and published by Princeton University Press. This book was released on 2010-04-12 with total page 189 pages. Available in PDF, EPUB and Kindle. Book excerpt: Labor Markets and Business Cycles integrates search and matching theory with the neoclassical growth model to better understand labor market outcomes. Robert Shimer shows analytically and quantitatively that rigid wages are important for explaining the volatile behavior of the unemployment rate in business cycles. The book focuses on the labor wedge that arises when the marginal rate of substitution between consumption and leisure does not equal the marginal product of labor. According to competitive models of the labor market, the labor wedge should be constant and equal to the labor income tax rate. But in U.S. data, the wedge is strongly countercyclical, making it seem as if recessions are periods when workers are dissuaded from working and firms are dissuaded from hiring because of an increase in the labor income tax rate. When job searches are time consuming and wages are flexible, search frictions--the cost of a job search--act like labor adjustment costs, further exacerbating inconsistencies between the competitive model and data. The book shows that wage rigidities can reconcile the search model with the data, providing a quantitatively more accurate depiction of labor markets, consumption, and investment dynamics. Developing detailed search and matching models, Labor Markets and Business Cycles will be the main reference for those interested in the intersection of labor market dynamics and business cycle research.

Book Intertemporal Substitution in the Presence of Long Term Contracts

Download or read book Intertemporal Substitution in the Presence of Long Term Contracts written by John M. Abowd and published by . This book was released on 1983 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Book Implicit Contracts  Life Cycle Labor Supply  and Intertemporal Substitution

Download or read book Implicit Contracts Life Cycle Labor Supply and Intertemporal Substitution written by John C. Ham and published by . This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The implicit contract model is a serious alternative to the spot market interpretation of the labor market. However, its usefulness has been limited because the wage is unobserved, and hence it has not been possible to estimate an intertemporal (Frisch) supply elasticity for the model using microdata. In this article, we show that one can estimate this elasticity from microdata within the context of the implicit contract model under relatively weak assumptions based on consumer theory. We implement our approach on two micro data sets and, for both, obtain a reasonably precise elasticity estimate of approximately 1.0.

Book Labor Economics  Problems in Analyzing Labor Markets

Download or read book Labor Economics Problems in Analyzing Labor Markets written by William A. Darity, Jr. and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 307 pages. Available in PDF, EPUB and Kindle. Book excerpt: William Darity, Jr. In 1984 the Kluwer series in Modern Economic Thought, under the editorial direction of Warren Samuels, brought out a book under my editorship entitled Labor Economics: Modern Views. It consisted of a series of essays and commentaries that sought, in a critical fashion, to assess the state of the art in the field of labor economics with respect to several themes. These included methodology versus practice, the analysis of discrimination by gender and race, the phenomenon of persistent racial differences in un employment exposure, occupational safety and health regulation, dual versus segmented labor markets, and the remnants of the Phillips curve trade-off between unemployment and inflation. Nearly a decade later I was approached by Warren Samuels and Kluwer about editing a new book that would again address where things stand in labor economics. In proceeding with the development of this current book I was a struck by the extent to which the research thrust that was apparent in the early 1980s remains intact as we move toward the 21st century. The vast majority of scholarship in the labor subfield is dominated by the methodological orientation of applied neoclassical microeconomics, supplemented by incursions from the themes that occupy the so-called "pure theorists," particularly of the game theoretic variety.

Book Insurance and Incentives in Labor Contracts

Download or read book Insurance and Incentives in Labor Contracts written by Oliver Fabel and published by . This book was released on 1990 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Book Studies in Labor Markets

Download or read book Studies in Labor Markets written by Sherwin Rosen and published by University of Chicago Press. This book was released on 2007-12-01 with total page 408 pages. Available in PDF, EPUB and Kindle. Book excerpt: The papers in this volume present an excellent sampling of the best of current research in labor economics, combining the most sophisticated theory and econometric methods with high-quality data on a variety of problems. Originally presented at a Universities-National Bureau Committee for Economic Research conference on labor markets in 1978, and not published elsewhere, the thirteen papers treat four interrelated themes: labor mobility, job turnover, and life-cycle dynamics; the analysis of unemployment compensation and employment policy; labor market discrimination; and labor market information and investment. The Introduction by Sherwin Rosen provides a thoughtful guide to the contents of the papers and offers suggestions for continuing research.

Book Labor Market Effects of Long term Contracts  Imports and Offshoring

Download or read book Labor Market Effects of Long term Contracts Imports and Offshoring written by J. Bradford Rice and published by . This book was released on 2008 with total page 198 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: Over the last several decades, the scale and scope of modern business have undergone significant change. As a result of increased geographic integration, firms face the constant struggle of finding innovative ways to retain comparative advantages. Workers also face a changing environment; increased cross-border activity results in heightened anxiety as products continue to be imported, services become "offshorable" to other nations, and as domestic firms begin to alter the nature of contract design, placing a larger burden of risk on the employee. This dissertation examines several key elements in contemporary labor economics. In Chapter 1, I analyze the U.S. apparel-manufacturing industry. Since 1970, the industry's employment has fallen more than any other manufacturing sector. Despite this industry-wide decline in employment, the geographic variation in the rate of decline has been quite large. I exploit this variation to determine the principal factors associated with maintaining industry employment. According to several studies, 40% of the U.S. workforce is at risk of losing its job to offshoring. These results are speculative, however, because gaps in technology and education have prevented many "potentially offshorable" jobs from becoming actually offshored. In Chapter 2, I develop a more concrete estimate by examining the pattern of interstate employment trends, within the United States. I then extend the analysis to make a more precise forecast of the expected magnitude of employment change when offshoring services internationally. In Chapter 3, I examine the core contractual relationship between the employee and employer. Using data from a panel of National Basketball Association players, I estimate that effort-related productivity increases nonlinearly, by as much as 10% per year towards the end of a fixed-term contract. In spite of these adverse effort effects, the model lends a sound economic justification for the existence of multi-period contracts: with uncertain output, contracts act as insurance for the worker and, in return for bearing some of the risk, firms can benefit by paying a lower wage. The results have implications for determining the optimal contract length in changing contemporary labor markets.

Book Intertemporal Substitution in Labor Supply

Download or read book Intertemporal Substitution in Labor Supply written by Joseph G. Altonji and published by . This book was released on 1984 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Book The Labor Market and Economic Adjustment

Download or read book The Labor Market and Economic Adjustment written by Pierre-Richard Agénor and published by International Monetary Fund. This book was released on 1995-11-01 with total page 98 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the role of the labor market in the transmission process of adjustment policies in developing countries. It begins by reviewing the recent evidence regarding the functioning of these markets. It then studies the implications of wage inertia, nominal contracts, labor market segmentation, and impediments to labor mobility for stabilization policies. The effect of labor market reforms on economic flexibility and the channels through which labor market imperfections alter the effects of structural adjustment measures are discussed next. The last part of the paper identifies a variety of issues that may require further investigation, such as the link between changes in relative wages and the distributional effects of adjustment policies.

Book Intertemporal labor supply

Download or read book Intertemporal labor supply written by David Card and published by . This book was released on 1991 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Book Festschrift in Honor of Peter Schmidt

Download or read book Festschrift in Honor of Peter Schmidt written by Robin C. Sickles and published by Springer Science & Business Media. This book was released on 2014-03-15 with total page 417 pages. Available in PDF, EPUB and Kindle. Book excerpt: From the Introduction: This volume is dedicated to the remarkable career of Professor Peter Schmidt and the role he has played in mentoring us, his PhD students. Peter’s accomplishments are legendary among his students and the profession. Each of the papers in this Festschrift is a research work executed by a former PhD student of Peter’s, from his days at the University of North Carolina at Chapel Hill to his time at Michigan State University. Most of the papers were presented at The Conference in Honor of Peter Schmidt, June 30 - July 2, 2011. The conference was largely attended by his former students and one current student, who traveled from as far as Europe and Asia to honor Peter. This was a conference to celebrate Peter’s contribution to our contributions. By “our contributions” we mean the research papers that make up this Festschrift and the countless other publications by his students represented and not represented in this volume. Peter’s students may have their families to thank for much that is positive in their lives. However, if we think about it, our professional lives would not be the same without the lessons and the approaches to decision making that we learned from Peter. We spent our days together at Peter’s conference and the months since reminded of these aspects of our personalities and life goals that were enhanced, fostered, and nurtured by the very singular experiences we have had as Peter’s students. We recognized in 2011 that it was unlikely we would all be together again to celebrate such a wonderful moment in ours and Peter’s lives and pledged then to take full advantage of it. We did then, and we are now in the form of this volume.