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Working Hours and Job Sharing in the EU and USA
Why do Europeans work so little compared to Americans? Can they be induced to work more without reducing labour productivity? This volume explores these questions and more in order to understand the changing nature of the hours worked in the USA and EU, as well as the effects of policies that impose working hour restrictions.
The Structure of Wages
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.
The Econometrics of Panel Data
This restructured, updated Third Edition provides a general overview of the econometrics of panel data, from both theoretical and applied viewpoints. Readers discover how econometric tools are used to study organizational and household behaviors as well as other macroeconomic phenomena such as economic growth. The book contains sixteen entirely new chapters; all other chapters have been revised to account for recent developments. With contributions from well known specialists in the field, this handbook is a standard reference for all those involved in the use of panel data in econometrics.
The Factory-free Economy
An economic analysis of de-industrialization that considers the ongoing transformation of the industrial economies and the consequences for economic policy.
Monopsony
What is Monopsony According to the principles of economics, a monopsony is a market structure in which a single buyer controls the market to a significant degree by acting as the primary purchaser of products and services that are supplied by a large number of potential suppliers. Assuming that a single entity is the lone purchaser of an item or service, the microeconomic theory of monopsony establishes that this firm possesses market power over all other sellers. This is a power that is comparable to that of a monopolist, who has the ability to influence the price for its buyers in a monopoly, which is a situation in which several buyers have only one seller of a product or service accessib...
High Wage Workers and High Wage Firms
We study a longitudinal sample of over one million French workers and over 500,000 employing firms. Real total annual compensation per worker is decomposed into components related to observable characteristics, worker heterogeneity, firm heterogeneity and residual variation. Except for the residual, all components may be correlated in an arbitrary fashion. At the level of the individual, we find that person-effects, especially those not related to observables like education, are the most important source of wage variation in France. Firm-effects, while important, are not as important as person-effects. At the level of firms, we find that enterprises that hire high-wage workers are more productive but not more profitable. They are also more capital and high-skilled employee intensive. Enterprises that pay higher wages, controlling for person-effects, are more productive and more profitable. They are also more capital intensive but are not more high-skilled labor intensive. We also find that person-effects explain 92% of inter-industry wage differentials.
A Dynamic Approach to Europe's Unemployment Problem
Examines the main factors influencing unemployment at both an aggregate level and at an individual level and assesses the role of policies to bring unemployment down.
Fighting Unemployment
With much of Europe plagued by high levels of unemployment, it has become widely accepted that the culprit is labor market rigidity and that the prescription can only be labor market deregulation: lower wages, higher earnings inequality, greater decentralization in bargaining, less generous unemployment benefits, more hiring flexibility, and less job security. Fighting Unemployment critically assesses this free market orthodoxy. With cross-country statistical analyses and country case studies, leading economists from seven North American and European countries contend that this conventional wisdom has greatly exaggerated the extent to which the unemployment problem can be blamed on protective labor market institutions and that the case for dismantling the welfare state to fight unemployment rests more on free market ideology than on the empirical evidence. The larger message of this book is that fundamentally different labor market models - ranging from the 'American Model' to the much more regulated and coordinated Scandinavian systems - are compatible with low unemployment.
