Download or read book How Worker Productivity and Wages Grow with Tenure and Experience written by Andrew Caplin and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: How worker productivity evolves with tenure and experience is central to economics, shaping, for example, life-cycle earnings and the losses from involuntary job separation. Yet, worker-level productivity is hard to identify from observational data. This paper introduces direct measurement of worker productivity in a firm survey designed to separate the role of on-the-job tenure from total experience in determining productivity growth. Several findings emerge concerning the initial period on the job. (1) On-the-job productivity growth exceeds wage growth, consistent with wages not being allocative period-by-period. (2) Previous experience is a substitute, but a far less than perfect one, for on-the-job tenure. (3) There is substantial heterogeneity across jobs in the extent to which previous experience substitutes for tenure. The survey makes use of administrative data to construct a representative sample of firms, check for selective non-response, validate survey measures with administrative measures, and calibrate parameters not measured in the survey.
Download or read book Productivity Growth and Tenure written by John Bishop and published by . This book was released on 1988 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Wage Growth Search and Experience written by Valeriu Altai Omer and published by . This book was released on 2005 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Are Those Paid More Really No More Productive written by James N. Brown and published by . This book was released on 1983 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Structure of Wages written by Edward P. Lazear and published by University of Chicago Press. This book was released on 2009-05-15 with total page 473 pages. Available in PDF, EPUB and Kindle. Book excerpt: The distribution of income, the rate of pay raises, and the mobility of employees is crucial to understanding labor economics. Although research abounds on the distribution of wages across individuals in the economy, wage differentials within firms remain a mystery to economists. The first effort to examine linked employer-employee data across countries, The Structure of Wages:An International Comparison analyzes labor trends and their institutional background in the United States and eight European countries. A distinguished team of contributors reveal how a rising wage variance rewards star employees at a higher rate than ever before, how talent becomes concentrated in a few firms over time, and how outside market conditions affect wages in the twenty-first century. From a comparative perspective that examines wage and income differences within and between countries such as Denmark, Italy, and the Netherlands, this volume will be required reading for economists and those working in industrial organization.
Download or read book Wage tenure Profiles in Contractual Labor Markets written by Hong W. Tan and published by . This book was released on 1981 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: The impact of long-term labor contracting on lifetime wages is a topic of growing interest among labor economists. There is evidence that an important fraction of the U.S. labor force is employed in near-lifetime jobs. Hall (1980 p. 20) finds that in 1978 over 35 percent of males held jobs that would last twenty years or more. There are several competing explanations for the existence of long-term jobs: the specific human capital hypothesis and, more recently, the agency and self-selection models. To date, no attempt has been made to distinguish empirically between them. The problem is that these models make similar predictions about the pattern of wage growth and labor turnover over the worklife. In the human capital approach, workers forgo high initial wages to invest in specific training which increases their productivity and earnings in subsequent years. The specific skills are, however, not transferable to other firms. In the agency and self-selection (henceforth, 'incentive') approach, firms offer workers wage profiles which are steeper than their productivity growth in order to reduce incentives to shirk (Lazear 1981) or to attract workers with low quit propensities. In both approaches, labor turnover declines with experience because relative wages in the current firm and elsewhere grow over the worklife.
Download or read book Wage Administration and Worker Productivity written by Arch R. Dooley and published by . This book was released on 1964 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Why are Wages Upward Sloping with Tenure written by Joachim Prinz and published by Rainer Hampp Verlag. This book was released on 2004 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt: One of the most stylized facts in labor economics is the finding that wages tend to rise with job duration but what is the role of productivity between this relation? Intuitively, it seems rather unspectacular that experienced workers' earnings are higher than otherwise comparable junior workers', but economic literature offers three competing theories explaining this phenomenon. A unique database from a single professional sports industry, covering the past decade of player performance and wages in the National Basketball Association (NBA) is used to test the superiority of one model over others in explaining players' upwards sloping age-earnings profiles. The empirical results show little evidence of the notion that player wages are solely determined on the basis of their productivity. Findings are rather in accordance with shirking and matching ideas: Returns to tenure are found to be significant but it's magnitude is reduced when the spurious bias - stemming from OLS - is controlled for. The fact that tenure remains considerably large - unaffected of productivity - but is simultaneously mitigated due to job match specific effects, is in harmony with incentive and matching arguments.Joachim Prinz, born 1971, studied economics at the University of Trier, Copenhagen Business School and American University, Washington D.C. From 1999-2001 he was a scientific co-worker at the University of Greifswald, Department of Economics. Since 2001 University of Witten/ Herdecke.
Download or read book Wages Worker Mobility and the Macroeconomy written by Kevin William Fawcett and published by . This book was released on 2020 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This thesis contains three essays on wages, worker mobility and the macroeconomy. Chapter 1 develops an equilibrium model of the labor market with on-the-job search, wage-tenure contracts, and heterogeneity in match productivity. The model predicts an inverse relationship between match productivity and post-unemployment wages where workers in high productivity matches earn a low wage initially, but experience significant wage growth over tenure. The model is considered in the context of labor market entry for young adults. Unemployment risk in the transition process reduces worker mobility and limits the ability of workers to recover from a low quality initial match. Quantitatively, workers that initially form low quality matches expect to produce 8.0% less and consume 5.2% less in their first three years in the labor market relative to workers that initially form high quality matches. Chapter 2 studies efficiency in the model developed in Chapter 1. The social planner's match formation strategy perfectly insures employed workers against unemployment risk and results in an 11.3% increase in permanent consumption relative to the competitive equilibrium. Two self-financed policies in the forms of an extension of unemployment insurance and a hiring subsidy are considered as alternative strategies to increase worker welfare. The optimal policies increase permanent consumption by 5.1% and 1.3% respectively relative to the competitive equilibrium, however both policies are associated with a decrease in average output per worker. Chapter 3, joint with Shouyong Shi, develops an equilibrium model of the labor market where workers have incomplete information about their ability. Search outcomes yield information for updating the belief about the ability, which affects optimal search decisions in the future. Firms respond to updated beliefs by altering vacancy creation and optimal wage contracts. To study equilibrium interactions between learning and search, this paper integrates learning into a search equilibrium with on-the-job search and wage-tenure contracts. The model is calibrated to quantify the extent to which learning and on-the-job search can explain empirical facts related to wage decreases in job-to-job transitions, duration dependence in unemployment, and frictional wage dispersion.
Download or read book Worker Productivity Employment and Aging written by Thomas N. Daymont and published by . This book was released on 1983 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Productivity a Selected Annotated Bibliography written by and published by . This book was released on 1965 with total page 650 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Productivity and Wages written by Edward P. Lazear and published by . This book was released on 2019 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt: Average wage growth is closely related to aggregate productivity growth across countries and within countries over time. The commonality of patterns across OECD countries suggests that common factors are at work. Are productivity-based explanations of wage changes consistent with increasing variance in wages as well as increases in mean wages as suggested by skill-biased technological change or other factors? To answer this, it is necessary to observe education-specific productivity growth. Cross-industry comparisons reveal that industries dominated by highly educated workers experienced higher-than-average productivity growth that is more than sufficient to account for increasing skill differentials.
Download or read book A Primer on Productivity written by Solomon Fabricant and published by . This book was released on 1969 with total page 230 pages. Available in PDF, EPUB and Kindle. Book excerpt: Introduction to the economic aspects of productivity, with particular reference to the situation in the USA - includes basic facts, covers trends in national productivity, efficiency in the use of capital, the rise in wages and labour productivity, price trends, employment and the impact of technological change thereon, economic policy in respect of productivity, economic implications, etc. Bibliography p. 197.
Download or read book Job Duration Seniority and Earnings written by Katharine G Abraham and published by Legare Street Press. This book was released on 2023-07-18 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores the relationship between job duration, seniority, and earnings. Drawing on research in labor economics, the authors provide a comprehensive guide to understanding the factors that influence earnings over time. Economists and researchers will find this book to be an essential resource. This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work is in the "public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
Download or read book Productivity in the 21st Century written by and published by Department of Labor. This book was released on 2003 with total page 172 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Individual Wage Growth written by Michele Battisti and published by . This book was released on 2015 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper focuses on the effect of experience within an industry on wages. I use a correlated random effects simultaneous equation model that allows individual and match heterogeneity to affect wages, job tenure, and industry experience. I estimate my model separately for men and women using a large panel of young Italian workers for the years 1986-2004. Results show that wage returns to industry experience are much higher than wage returns to job seniority. The hypotheses of exogeneity of job seniority and industry experience in the wage equation are rejected: high-wage workers and high-wage matches last longer.
Download or read book Training and the Private Sector written by Lisa M. Lynch and published by University of Chicago Press. This book was released on 2007-12-01 with total page 332 pages. Available in PDF, EPUB and Kindle. Book excerpt: How can today's workforce keep pace with an increasingly competitive global economy? As new technologies rapidly transform the workplace, employee requirements are changing and workers must adapt to different working conditions. This volume compares new evidence on the returns from worker training in the United States, Germany, France, Britain, Japan, Norway, and the Netherlands. The authors focus on Germany's widespread, formal apprenticeship programs; the U.S. system of learning-by-doing; Japan's low employee turnover and extensive company training; and Britain's government-led and school-based training schemes. The evidence shows that, overall, training in the workplace is more effective than training in schools. Moreover, even when U.S. firms spend as much on training as other countries do, their employees may still be less skilled than workers in Europe or Japan. Training and the Private Sector points to training programs in Germany, Japan, and other developed countries as models for creating a workforce in the United States that can compete more successfully in today's economy.
