Wage Costs

14,000,000 Leading Edge Experts on the ideXlab platform

Scan Science and Technology

Contact Leading Edge Experts & Companies

Scan Science and Technology

Contact Leading Edge Experts & Companies

The Experts below are selected from a list of 195 Experts worldwide ranked by ideXlab platform

Paolo F. Volpin - One of the best experts on this subject based on the ideXlab platform.

  • employment protection and takeovers
    Journal of Financial Economics, 2017
    Co-Authors: Olivier Dessaint, Andrey Golubov, Paolo F. Volpin
    Abstract:

    Labor restructuring is a key driver of takeovers and the associated synergy gains worldwide. In a difference-in-differences research design, we show that major increases in employment protection reduce takeover activity by 14-27% and the combined firm gains (synergies) by over half. Consistent with the labor channel behind these effects, deals with greater potential for workforce restructuring show a greater reduction in volume, number, and synergies. The reforms do impede layoffs, and the associated Wage Costs match the magnitude of synergy losses. Offer prices are not fully adjusted, with both bidders and targets exhibiting lower returns following the reforms.

  • Employment Protection and Takeovers
    SSRN Electronic Journal, 2015
    Co-Authors: Olivier Dessaint, Andrey Golubov, Paolo F. Volpin
    Abstract:

    Labor restructuring is a key driver of takeovers and the associated synergy gains worldwide. In a difference-in-differences research design, we show that major increases in employment protection reduce takeover activity by 14-27% and the combined firm gains (synergies) by over half. Consistent with the labor channel behind these effects, deals with greater potential for workforce restructuring show a greater reduction in volume, number, and synergies. Increases in employment protection impede layoffs, resulting in Wage Costs that match the magnitude of synergy losses. Offer prices are not fully adjusted, with both bidders and targets exhibiting lower returns following the reforms.

Michael Dunford - One of the best experts on this subject based on the ideXlab platform.

  • geography trade and regional development the role of Wage Costs exchange rates and currency capital movements
    Journal of Economic Geography, 2014
    Co-Authors: Michael Dunford, Weidong Liu, Zhigao Liu, Godfrey Yeung
    Abstract:

    Existing theories of geographical specialization and trade can be classified into four groups: supply-side; demand-side; endogenous growth and institutional models. In the recent past, economic geographers have paid little attention to earlier regional economic analysis and concentrated for the most part on detailed examination of production structures, the chains linking upstream and downstream activities into production and value networks, clusters, institutions and more recently, economic evolution. As a result, existing economic geography is ill-equipped to deal with the impact of some aspects of the evolution of Costs, exchange rates, trade and capital flows on regional development and pays relatively little attention to economic calculation. Geographical economics includes an underlying theory of trade and micro-foundations, yet its supply-side approach neglects the role of monetary and demand-side (except in gravity models of trade) factors. The aim of this article is to argue for an extension of existing theoretical frameworks to embrace these issues in the light of recent trends in global economic geography and successive financial and debt crises that have stricken the developed world.

Peter Wright - One of the best experts on this subject based on the ideXlab platform.

  • estimating the Wage Costs of inter and intra sectoral adjustment
    Review of World Economics, 2002
    Co-Authors: Michelle Haynes, Richard Upward, Peter Wright
    Abstract:

    Estimating the Wage Costs of Inter- and Intra-Sectoral Adjustment. — The proposition that labour market adjustments to intra-industry trade are less costly than adjustments to inter-industry trade is a widely-held belief amongst trade economists. If there are significant sector-specific skills, then this ‘smooth adjustment hypothesis’ seems intuitive. Direct evidence relating to this issue remains largely anecdotal. In this paper we estimate the returns to tenure within jobs, industries and occupations in order to predict the Costs, in terms of Wage losses, of moving jobs between and within sectors. We find no compelling evidence that Wage Costs of moving between industries are larger than the Costs of moving within industries.

  • estimating the Wage Costs of inter and intra sectoral adjustment
    Social Science Research Network, 2001
    Co-Authors: Michelle Haynes, Richard Upward, Peter Wright
    Abstract:

    The proposition that labour market adjustments to intra-industry trade are less costly than adjustments to inter-industry trade is a widely-held belief amongst trade economists. If it is the case that there are significant sector-specific skills, then this "smooth adjustment hypothesis" seems intuitive. However, direct evidence relating to this issue remains largely anecdotal. In this Paper we adopt the methodology of the micro-econometric labour literature to estimate the returns to tenure within firms, industries and occupations in order to predict the Costs, in terms of Wage losses, of moving jobs between and within sectors. To do this we use a large panel of individual workers for the UK over a long period (1975-1998), which enables us to control for unobserved fixed effects which may jointly determine the propensity to move jobs and the Wage level.

Godfrey Yeung - One of the best experts on this subject based on the ideXlab platform.

  • geography trade and regional development the role of Wage Costs exchange rates and currency capital movements
    Journal of Economic Geography, 2014
    Co-Authors: Michael Dunford, Weidong Liu, Zhigao Liu, Godfrey Yeung
    Abstract:

    Existing theories of geographical specialization and trade can be classified into four groups: supply-side; demand-side; endogenous growth and institutional models. In the recent past, economic geographers have paid little attention to earlier regional economic analysis and concentrated for the most part on detailed examination of production structures, the chains linking upstream and downstream activities into production and value networks, clusters, institutions and more recently, economic evolution. As a result, existing economic geography is ill-equipped to deal with the impact of some aspects of the evolution of Costs, exchange rates, trade and capital flows on regional development and pays relatively little attention to economic calculation. Geographical economics includes an underlying theory of trade and micro-foundations, yet its supply-side approach neglects the role of monetary and demand-side (except in gravity models of trade) factors. The aim of this article is to argue for an extension of existing theoretical frameworks to embrace these issues in the light of recent trends in global economic geography and successive financial and debt crises that have stricken the developed world.

Anzelika Zaiceva - One of the best experts on this subject based on the ideXlab platform.

  • The Wage and Non-Wage Costs of Displacement in Boom Times: Evidence from Russia
    Journal of Comparative Economics, 2013
    Co-Authors: Hartmut Lehmann, Alexander Muravyev, Tiziano Razzolini, Anzelika Zaiceva
    Abstract:

    This paper analyzes the Costs of job loss over the years of a booming economy, 2003–2008, using unique data from the Russian Longitudinal Monitoring Survey. In addition to analyzing standard labor market outcomes, such as forgone earnings, employment, hours worked and Wage penalties, our unique data set allows us to investigate additional non-Wage Costs of displacement, in particular, fringe benefits, the propensity to have an informal employment relationship or a temporary contract. We find that displaced individuals face large foregone earnings following displacement, which are heterogeneous across education and ownership type of firm from which the worker separated. There is no evidence of Wage penalties for re-employed displaced workers. However, we find an increased probability of working in informal or temporary jobs if previously displaced and a reduction in the number of benefits.

  • the Wage and non Wage Costs of displacement evidence from russia
    Center for Economic Research (RECent), 2011
    Co-Authors: Hartmut Lehmann, Alexander Muravyev, Tiziano Razzolini, Anzelika Zaiceva
    Abstract:

    This paper is the first to analyze the Costs of job loss in Russia, using unique new data from the Russian Longitudinal Monitoring Survey over the years 2003-2008, including a special supplement on displacement that was initiated by us. We employ fixed effects regression models and propensity score matching techniques in order to establish the causal effect of displacement for displaced individuals. The paper is innovative insofar as we investigate fringe and in-kind benefits and the propensity to have an informal employment relationship as well as a permanent contract as relevant labor market outcomes upon displacement. We also analyze monthly earnings, hourly Wages, employment and hours worked, which are traditionally investigated in the literature. Compared to the control group of non-displaced workers (i.e. stayers and quitters), displaced individuals face a significant income loss following displacement, which is mainly due to the reduction in employment and hours worked. This effect is robust to the definition of displacement. The losses seem to be more pronounced and are especially large for older workers with labor market experience and human capital acquired in Soviet times and for workers with primary and secondary education. Workers displaced from state firms experience particularly large relative losses in the short run, while such losses for workers laid off from private firms are more persistent. Turning to the additional non-conventional labor market outcomes, there is a loss in terms of the number of fringe and in-kind benefits for reemployed individuals but not in terms of their value. There is also some evidence of an increased probability of working in informal jobs if displaced. These results point towards the importance of both firm-specific human capital and of obsolete skills obtained under the centrally planned economy as well as to a wider occurrence of job insecurity among displaced workers