Wage Rates

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Holly Monti - One of the best experts on this subject based on the ideXlab platform.

  • Can pollution tax rebates protect low-Wage earners?
    Journal of Environmental Economics and Management, 2013
    Co-Authors: Don Fullerton, Holly Monti
    Abstract:

    Pollution taxes are believed to burden low-income households that spend a greater than average share of income on pollution-intensive goods. Some proposals offset that effect by returning revenue to low-income workers via reduced labor tax. We build analytical general equilibrium models with both high-skilled and low-skilled labor, and we solve for the change in real net Wage of each group. Decomposition shows the separate effects of the tax rebate, higher product prices, and the changes in relative Wage Rates. We also include numerical examples. Even though the pollution tax injures both types of labor, in most cases we find that returning all of the revenue to low-skilled workers is still not enough to offset higher product prices. Changes in relative Wage Rates may further hurt low-skilled labor. Protecting low-income workers is possible in this model only if they are defined as those below a relatively low Wage threshold, but we discuss many possible elaborations of this model that could affect those results.

  • Can Pollution Tax Rebates Protect Low-Income Families? The Effects of Relative Wage Rates
    2010
    Co-Authors: Don Fullerton, Holly Monti
    Abstract:

    Pollution taxes are believed to burden low-income households that spend a greater than average share of income on pollution-intensive goods. Some propose to offset that effect by returning revenue to low-income workers via reduced labor tax. We build analytical general equilibrium models with both skilled and unskilled labor, and we solve for expressions that show the change in the real net Wage of each group. A decomposition shows the effect of the tax rebate, the effect on the uses side of income (higher product prices), and the effect on the sources side of income (relative Wage Rates). We also include numerical examples. Even though the pollution tax injures both types of labor, we find that returning all of the revenue to the low-skilled workers is still not enough to offset the effect of higher product prices. Moreover, changing Wage Rates may further hurt low-skilled labor. In almost all of our examples, the rebate of all revenue to low-skilled labor still does not prevent a reduction in their overall real net Wage.

Bernard Fingleton - One of the best experts on this subject based on the ideXlab platform.

  • The new economic geography versus urban economics: an evaluation using local Wage Rates in Great Britain
    Oxford Economic Papers, 2006
    Co-Authors: Bernard Fingleton
    Abstract:

    This paper tests two major competing theories explaining the spatial concentration of economic activity, namely new economic geography theory (NEG) which emphasizes varying market potential, and urban economics theory (UE) in which the main emphasis is on producer service linkages. Using Wage rate variations across small regions of Great Britain, the paper finds that it is UE theory rather than NEG theory that has most explanatory power. Evidence for this comes from encompassing both models within an artificial nesting model. Despite the popularity of NEG theory, this paper shows that although NEG works well using regional data, there is evidence that it does not necessarily provide the best explanation of local Wage variations, since producer services inputs associated with UE theory and labour efficiency variations are important effects at a local level, and these are excluded from the formal NEG model.

  • towards applied geographical economics modelling relative Wage Rates incomes and prices for the regions of great britain
    Applied Economics, 2005
    Co-Authors: Bernard Fingleton
    Abstract:

    One of the key issues surrounding geographical economics is whether the theory can be made operational, so that proper investigations can be made of the basic theoretical assumptions and practical use can be made of the model's predictions at a detailed spatial level. In this paper the model formalized by Fujita et al. (1999) is developed in the context of 36 regions of Great Britain, enabling direct comparisons with observed Wage rate data that are used to calibrate the model. Iceberg transport costs are in the form of an exponential function and a power function. For the range of parameters considered, the power function gives a better fit between model and data, suggesting scale economies in transportation. The paper shows that, in spite of the assumptions that have to be made, quite realistic distributions of relative Wages, income and prices are attainable. However, caution is required in the interpretation of these simulations, which in no way provide proof of New Economic Geography theory, which clearly has limitations. Nonetheless it is hoped that the work reported in this paper does help to advance the progress of geographical economics theory towards empirical verification.

  • The new economic geography versus urban economics : an evaluation using local Wage Rates in Great Britain
    2004
    Co-Authors: Bernard Fingleton
    Abstract:

    This paper tests two competing models, one deriving from new economic geography theory (NEG) emphasising varying market potential, the other with a basis in urban economics theory (UE) in which the main emphasis is on producer service linkages. Using Wage rate variations across small regions of Great Britain, the paper finds that, taking commuting into account, it is UE theory rather than NEG theory that has explanatory power. However since the two hypotheses are non-nested, the evaluation of the competing hypotheses is difficult and therefore the conclusions are provisional. Nevertheless this paper provides evidence that we should be cautious about the ability of NEG to work at all levels of spatial resolution, and re-emphasises the need to focus on supply-side variations in producer services inputs and labour efficiency variations, including the role of commuting, in local economic analysis.

Jacob Weisdorf - One of the best experts on this subject based on the ideXlab platform.

  • unreal Wages real income and economic growth in england 1260 1850
    The Economic Journal, 2019
    Co-Authors: Jane Humphries, Jacob Weisdorf
    Abstract:

    Estimates of historical workers' annual incomes suffer from the fundamental problem that they are inferred from day Wage Rates without knowing how many days of work day-labourers undertook per year. We circumvent the problem by building an income series based on the payments made to workers employed by the year rather than by the day. Our data suggest that earlier annual income estimates based on day Wages overestimate medieval labour incomes but underestimate labour incomes during the Industrial Revolution. Our revised estimates indicate that modern economic growth began more than two centuries earlier than commonly thought and was driven by an 'Industrious Revolution'. They also suggest that the current global downturn in labour's share is not exceptional but fits within the range of historical fluctuations.

Don Fullerton - One of the best experts on this subject based on the ideXlab platform.

  • Can pollution tax rebates protect low-Wage earners?
    Journal of Environmental Economics and Management, 2013
    Co-Authors: Don Fullerton, Holly Monti
    Abstract:

    Pollution taxes are believed to burden low-income households that spend a greater than average share of income on pollution-intensive goods. Some proposals offset that effect by returning revenue to low-income workers via reduced labor tax. We build analytical general equilibrium models with both high-skilled and low-skilled labor, and we solve for the change in real net Wage of each group. Decomposition shows the separate effects of the tax rebate, higher product prices, and the changes in relative Wage Rates. We also include numerical examples. Even though the pollution tax injures both types of labor, in most cases we find that returning all of the revenue to low-skilled workers is still not enough to offset higher product prices. Changes in relative Wage Rates may further hurt low-skilled labor. Protecting low-income workers is possible in this model only if they are defined as those below a relatively low Wage threshold, but we discuss many possible elaborations of this model that could affect those results.

  • Can Pollution Tax Rebates Protect Low-Income Families? The Effects of Relative Wage Rates
    2010
    Co-Authors: Don Fullerton, Holly Monti
    Abstract:

    Pollution taxes are believed to burden low-income households that spend a greater than average share of income on pollution-intensive goods. Some propose to offset that effect by returning revenue to low-income workers via reduced labor tax. We build analytical general equilibrium models with both skilled and unskilled labor, and we solve for expressions that show the change in the real net Wage of each group. A decomposition shows the effect of the tax rebate, the effect on the uses side of income (higher product prices), and the effect on the sources side of income (relative Wage Rates). We also include numerical examples. Even though the pollution tax injures both types of labor, we find that returning all of the revenue to the low-skilled workers is still not enough to offset the effect of higher product prices. Moreover, changing Wage Rates may further hurt low-skilled labor. In almost all of our examples, the rebate of all revenue to low-skilled labor still does not prevent a reduction in their overall real net Wage.

Francis Teal - One of the best experts on this subject based on the ideXlab platform.