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This volume seeks to go beyond the microeconomic view of wages as a cost having negative consequences on a given firm, to consider the positive macroeconomic dynamics associated with wages as a major component of aggregate demand.
"In the Dutch economic policy debate, wage moderation is widely considered as a key factor for achieving economic growth and low unemployment. However, some economists criticise the policy emphasis on wage moderation, claiming that high wages are needed to maintain structural labour productivity growth. This paper analyses the effects of a wage push on labour productivity within the framework of endogenous technological progress, endogenous technology adoption and insufficient competition. The conclusion is that a wage push raises labour productivity in the short run. However, this rise in labour productivity is temporary and inefficient. In the long run, a wage push may well harm labour productivity. The main message of the paper is that it is probably best not to use wage policy at all as a tool to influence productivity. As a tool against unemployment, however, it is very effective. These insights are applied in a review of the Dutch post-war productivity growth."--Editor.
Using panel data for 15 industrial countries, active labor market policies (ALMPs) are shown to have raised employment rates in the business sector in the 1990s, after controlling for many institutions, country-specific effects, and economic variables. Among such policies, direct subsidies to job creation were the most effective. ALMPs also affected employment rates by reducing real wages below levels allowed by technological growth, changes in the unemployment rate, and institutional and other economic factors. However, part of this wage moderation may be linked to a composition effect because policies were targeted to low-paid individuals. Whether ALMPs are cost-effective from a budgetary perspective remains to be determined, but they are certainly not substitutes for comprehensive institutional reforms.
The 32nd issue of the International Productivity Monitor is a special issue produced in collaboration with the OECD. All articles published in this issue were selected from papers presented at the First Annual Conference of the OECD Global Forum on Productivity held in Lisbon, Portugal, July ...
Collective bargaining and workers’ voice are often discussed in the past rather than in the future tense, but can they play a role in the context of a rapidly changing world of work? This report provides a comprehensive assessment of the functioning of collective bargaining systems and workers’ voice arrangements across OECD countries, and new insights on their effect on labour market performance today.
The 2018/19 edition analyses the gender pay gap. The report focuses on two main challenges: how to find the most useful means for measurement, and how to break down the gender pay gap in ways that best inform policy-makers and social partners of the factors that underlie it. The report also includes a review of key policy issues regarding wages and the reduction of gender pay gaps in different national circumstances.
An innovative approach to measuring inequality providing the first full integration of distributional and macro level data for the US.
This book offers an extensive survey and synthesis of the economic literature on trade unions and collective bargaining and their impact on micro-and macro-economic outcomes. The authors demonstrate the effects of collective bargaining in different country settings and time periods. A comprehensive reference, this book will be of interest to students and scholars of labor policy as well as to policy makers and anyone with an interest in the economic consequences of unionism.
Over the last twenty years, there has been an increasing number of factors that have placed the manufacturing strategies of companies and countries in a global context. This book reviews and addresses the global manufacturing strategy area through research in the four major economic areas of the world: Europe, North America, Latin America and Asia. International Manufacturing Strategies: Context, Content and Change is the result of a single major research project undertaken in twenty countries, focusing on the manufacturing strategies and practices in each, and uses research data to focus on factors specific to industrial countries or regions and those which are common across the group of countries or the entire sample The core of this book is a set of chapters reviewing individual countries. Each country is reviewed in a format with an overall common approach: the socio-economic background; the distinctive results for that country from the research and the link between the two. Most will be illustrated by a small case study of a company. Following this is an integrating review of the findings from various countries, the different trajectories followed, and the impact on external variables and the socioeconomic context on those. The final part of the book is devoted to new ideas and developments in functional areas and in manufacturing strategy that have been developed from the analysis conducted during the research.
Since the beginning of the economic crisis of the 1980s considerable research has been dedicated to the study of the unemployment problem. Nevertheless, the phenomenon has not become fully understood, nor are its consequences adequately prevented. In this important new volume, On the Mysteries of Unemployment, economists and social scientists come together to offer the reader the latest insights on unemployment and policies regarding unemployment from the perspectives of both disciplines. On the Mysteries of Unemployment contains four main sections. Part One provides an introductory chapter and general overview. Part Two contains rich contributions that provide new insights from an economic science perspective, while Part Three offers a balanced view from social scientists. The final section is devoted to the examination of policy issues concerning unemployment. This volume, unique in its field, will be of interest to researchers, students, politicians and policy-makers.