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Wage Growth (wage + growth)
Selected AbstractsWAGE GROWTH, HUMAN CAPITAL AND FINANCIAL INVESTMENT,THE MANCHESTER SCHOOL, Issue 6 2005SARAH BROWN The aim of this paper is to explore the relationship between wage growth, human capital and investment in financial assets at the individual level. We investigate this relationship using data from five waves of the British Household Panel Survey. We exploit panel data enabling us to determine the change in real wages experienced by individuals across four different time horizons, 1995,96, 1995,98, 1995,1700 and 1700,1. Our findings support a positive association between financial assets and wage growth with this relationship becoming more pronounced over time. In addition, our results suggest that investment in financial assets is positively associated with returns to human capital investment. [source] Welfare to Work, Wages and Wage Growth,FISCAL STUDIES, Issue 3 2005Reamonn Lydon Abstract This paper attempts to uncover the effects of a UK welfare-to-work programme on individual wage growth by exploiting an expansion to this welfare programme. The conventional wisdom is that such programmes trap recipients into low-wage, low-quality work , this comes from the simple argument that the ,poverty trap', which a wage subsidy for low-income workers induces, reduces the benefits to investments, such as on-the-job training, and so reduces wage growth. In fact, a wage subsidy will also reduce the costs of, at least, general training because we would normally expect workers to pay for their own general training in the form of lower gross wages. So a wage subsidy is a way of sharing these costs with the taxpayer. Thus, the net effect on wage progression depends on whether it reduces costs by more or less than it reduces the benefits. [source] A DYNAMIC ANALYSIS OF EDUCATIONAL ATTAINMENT, OCCUPATIONAL CHOICES, AND JOB SEARCH,INTERNATIONAL ECONOMIC REVIEW, Issue 1 2010Paul Sullivan This article examines career choices using a dynamic structural model that nests a job search model within a human capital model of occupational and educational choices. Wage growth occurs in the model because workers move between firms and occupations as they search for suitable job matches and because workers endogenously accumulate firm and occupation specific human capital. Simulations performed using the estimated model reveal that both self-selection in occupational choices and mobility between firms account for a much larger share of total earnings and utility than the combined effects of firm and occupation specific human capital. [source] How skilled were English agricultural labourers in the early nineteenth century?1ECONOMIC HISTORY REVIEW, Issue 4 2006JOYCE BURNETTE Using the wage accounts of two different farms in the 1830s and 1840s, matched with census records to determine the age of the workers, this article estimates age-wage profiles for male and female agricultural labourers. Females earned less than males, and had less wage growth over their life cycles. Male wage profiles peaked at age 30,5, earlier than the wage profiles of workers today. Before the age of 30 wage growth was more rapid than increases in strength, but less rapid than wage growth among factory workers. If wage increases after the age of 20 indicate skill acquisition, then male agricultural labourers acquired a significant amount of skill, but less skill than contemporaneous factory workers. [source] Welfare to Work, Wages and Wage Growth,FISCAL STUDIES, Issue 3 2005Reamonn Lydon Abstract This paper attempts to uncover the effects of a UK welfare-to-work programme on individual wage growth by exploiting an expansion to this welfare programme. The conventional wisdom is that such programmes trap recipients into low-wage, low-quality work , this comes from the simple argument that the ,poverty trap', which a wage subsidy for low-income workers induces, reduces the benefits to investments, such as on-the-job training, and so reduces wage growth. In fact, a wage subsidy will also reduce the costs of, at least, general training because we would normally expect workers to pay for their own general training in the form of lower gross wages. So a wage subsidy is a way of sharing these costs with the taxpayer. Thus, the net effect on wage progression depends on whether it reduces costs by more or less than it reduces the benefits. [source] Gender Wage Differences in West Germany: A Cohort AnalysisGERMAN ECONOMIC REVIEW, Issue 4 2002Bernd Fitzenberger A comprehensive descriptive analysis of gender wage differences over a long time period does not exist for West Germany. Using an empirical approach which explicitly takes into account changes of wage distributions for both males and females as well as life,cycle and birth cohort effects, we go beyond conventional decomposition techniques of the average gender wage gap. The paper provides stylized facts of the level and dynamics of the gender wage gap from 1975,95. The empirical analysis is based upon the IAB employment subsample. Our findings confirm the importance of distributional effects relating to skill level and employment status. While life,cycle wage growth is in general much lower for females compared to males, comparing their estimated time trends implies that the gender wage gap has narrowed substantially in the lower part of the wage distribution especially for low, and medium,skilled females but much less so in the upper part of the wage distribution. Surprisingly, we do not find any cohort effects for wages of female employees. [source] Assessing gender inequality in the Turkish pension systemINTERNATIONAL SOCIAL SECURITY REVIEW, Issue 2 2008Adem Y. Elveren Abstract Since the 1990s, the welfare regime in Turkey has become more market-oriented. The introduction of the Individual Pension System (IPS), a privately managed defined contribution scheme, is part of this process. This paper uses an autoregressive stochastic model in order to show the total effect of specific disadvantages, such as a shorter working life, less earnings, longer life expectancy, real wage growth, administrative cost and risk aversion, on the retirement benefits of women in Turkey. Using an actuarial model, the article aims to contribute to the literature by investigating the gender gap in the Turkish defined contribution scheme. [source] Human Capital and Stock Returns: Is the Value Premium an Approximation for Return on Human Capital?JOURNAL OF BUSINESS FINANCE & ACCOUNTING, Issue 3-4 2004Article first published online: 28 MAY 200, Bo Hansson This study, using a direct measure of the wage growth rate within firms, examines the value premium in relation to human capital. The results suggest that the dispersion in wage growth in value and growth stocks explains a large portion of the differences in stock returns. It appears that value stocks are less exposed to shocks in rents to human capital. Differences in labor force characteristics among value and growth stocks also proved to be an important factor in determining both the impact of future changes in labor income growth rate and firm value. The present findings are understood to mean that the ability of investors to forecast the dispersion in wage growth in firms is limited. [source] Five-year effects of an anti-poverty program on marriage among never-married mothersJOURNAL OF POLICY ANALYSIS AND MANAGEMENT, Issue 1 2006Anna Gassman-Pines Using data from an experimental evaluation of the New Hope project, an anti-poverty program that increased employment and income, this study examined the effects of New Hope on entry into marriage among never-married mothers. Among never-married mothers, New Hope significantly increased rates of marriage. Five years after random assignment, 21 percent of women assigned to the New Hope condition were married, compared to 12 percent of those assigned to the control group. The New Hope impact on marriage was robust to variations in model specification. The program also increased income, wage growth, and goal efficacy among never-married mothers, and decreased depression. In non-experimental analyses, income and earnings were associated with higher probability of marriage and material hardship was associated with lower probability of marriage. © 2006 by the Association for Public Policy Analysis and Management [source] RISING WAGES: HAS CHINA LOST ITS GLOBAL LABOR ADVANTAGE?PACIFIC ECONOMIC REVIEW, Issue 4 2010Dennis Tao Yang We document dramatic rising wages in China for the period 1978,2007 based on multiple sources of aggregate statistics. Although real wages increased seven-fold during the period, growth was uneven across ownership types, industries and regions. Over the past decade, the wages of state-owned enterprises have increased rapidly and wage disparities between skill-intensive and labour-intensive industries have widened. Comparisons of international data show that China's manufacturing wage has already converged to that of Asian emerging markets, but China still enjoys enormous labour cost advantages over its neighbouring developed economies. Our analysis suggests that China's wage growth will stabilize to a moderate pace in the near future. [source] Income Growth and Earnings Variations in New Zealand, 1998,2004THE AUSTRALIAN ECONOMIC REVIEW, Issue 3 2006Dean Hyslop This article analyses changes in the distributions of working-age individuals' earnings and total income in New Zealand over the period 1998,2004. We find that there have been broad gains in income across the distribution, suggesting the spoils of growth have been shared widely. Mean and median earnings increased 15 and 23 per cent respectively, while mean and median income increased 12,13 per cent. Inequality, as measured by the Gini coefficient, was more stable: earnings inequality fell 4 per cent, while income inequality was unchanged. The main drivers of the changes were employment and real wage growth. We estimate that roughly one-half of the growth in average incomes was due to employment growth, and one-quarter each to demographic changes and wage growth. The relative employment and wage contributions varied across the income distribution: employment growth dominated gains at the lower end of the distribution, while wage gains dominated changes at the higher end. [source] It's the Economy Stupid: Macroeconomics and Federal Elections in AustraliaTHE ECONOMIC RECORD, Issue 235 2000LISA CAMERON In this paper we examine the impact of macroeconomic conditions on Federal electoral performance in 20th-century Australia. We find that the electorate penalizes a government for high inflation and high unemployment relative to trend. Real GDP growth and real wage growth were not found to have a systematic relationship with incumbent vote share at the Federal level. We also examine the voteshare of the Federal incumbent in three electorates: the safe Liberal seat of Kooyong, the safe Labor seat of Melbourne Pans, and the swinging seat of Latrobe. We find some evidence that unemployment affects electoral outcomes in the swinging seat, but no macroeconomic variables affect outcomes in the safe seats. [source] WAGE GROWTH, HUMAN CAPITAL AND FINANCIAL INVESTMENT,THE MANCHESTER SCHOOL, Issue 6 2005SARAH BROWN The aim of this paper is to explore the relationship between wage growth, human capital and investment in financial assets at the individual level. We investigate this relationship using data from five waves of the British Household Panel Survey. We exploit panel data enabling us to determine the change in real wages experienced by individuals across four different time horizons, 1995,96, 1995,98, 1995,1700 and 1700,1. Our findings support a positive association between financial assets and wage growth with this relationship becoming more pronounced over time. In addition, our results suggest that investment in financial assets is positively associated with returns to human capital investment. [source] Gender Earnings and Part-Time Pay in Australia, 1990,1998BRITISH JOURNAL OF INDUSTRIAL RELATIONS, Issue 3 2003Alison Preston This paper studies the effects of enterprise bargaining on the pay position of women and other target equity groups. Contrary to a priori expectations the paper shows a convergence in full-time and part-time gross gender pay gaps following the adoption of decentralized wage bargaining. Convergence in the latter reflects compositional (human capital) effects: the entry of less qualified and less experienced males into part-time employment. Overall the results show a deterioration in the pay position of men employed full-time relative to women and part-timers (men and women) brought about by slower wage growth amongst men in full-time employment. [source] | |||||||||||||