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Returns to Human Capital Under the Communist Wage Grid and During the Transition to a Market Economy

Münich, Daniel; Svejnar, Jan; Terrell, Katherine - C.E.P.R. Discussion Papers - 1999

Under communism, workers had their wages set according to a centrally-determined wage grid. In this paper we use new …

Persistent link: https://www.econbiz.de/10005666520

International Migration, Welfare and the Provision of Public Goods

Gatsios, Konstantine; Hatzipanayotou, Panos; Michael, Mike - C.E.P.R. Discussion Papers - 1996

wages and welfare. To this end, we construct a general equilibrium model of a labour-exporting (source) and a labour … framework, it is shown that, contrary to existing literature, international migration may have adverse effects on wages and …

Persistent link: https://www.econbiz.de/10005136698

Industrial Policy in the Presence of Wage Distortion: The Case of the US Auto and Steel Industries

de Melo, Jaime; Tarr, David - C.E.P.R. Discussion Papers - 1990

This paper examines the welfare effects of protection in two sectors characterized by high wage premia, autos and steel, to determine if protection is justified to correct for the labor misallocation due to wage premia. If wage premia are exogenous, under most product market structures, labor...

Persistent link: https://www.econbiz.de/10005656381

A Theory of Union Power and Labour Turnover

Kühn, Kai-Uwe; Padilla, Atilano Jorge - C.E.P.R. Discussion Papers - 1996

In this paper we develop a theory of union bargaining power based on firm-specific skills acquired by the insider work …, new workers are hired at wages below the going market rate. Union power may either increase or decrease the amount of … hiring of the firm, however. This paper can thus be understood as developing an insider-outsider theory in which harrassment …

Persistent link: https://www.econbiz.de/10005666406

Extensive and Intensive Growth in a Neoclassical Framework

Irmen, Andreas - C.E.P.R. Discussion Papers - 2004

incentives to engage in labour-saving technical change. A steady rise in the capital-labour ratio affects the relative scarcity …

Persistent link: https://www.econbiz.de/10005791342

Neoclassical Growth and the 'Trivial' Steady State

Hakenes, Hendrik; Irmen, Andreas - C.E.P.R. Discussion Papers - 2005

If capital is an essential input, the neoclassical growth model has a steady state with zero capital. From this, one is inclined to conclude that an economy starting without capital can never grow. We challenge this view and claim that, if the production function satisfies the Inada conditions,...

Persistent link: https://www.econbiz.de/10005792095

How Big are the Gains from International Financial Integration?

Hoxha, Indrit; Kalemli-Ozcan, Sebnem; Vollrath, Dietrich - C.E.P.R. Discussion Papers - 2011

The literature has shown that the implied welfare gains from international financial integration are very small. We revisit the existing findings and document that welfare gains can be substantial if capital goods are not perfect substitutes. We use a model of optimal savings that includes a...

Persistent link: https://www.econbiz.de/10009364327

Unemployment in East and West Europe

Münich, Daniel; Svejnar, Jan - C.E.P.R. Discussion Papers - 2007

In this paper, we use 1991-2005 panel data on the unemployed, vacancies, inflow into unemployment, and outflow from unemployment in five former communist economies and in the western part of Germany (a benchmark western economy) to examine the evolution of unemployment together with that of...

Persistent link: https://www.econbiz.de/10005656270

The Union Wage Effect in Late Nineteenth Century Britain

Bailey, Roy E; Boyer, George; Hatton, Timothy J. - C.E.P.R. Discussion Papers - 1992

in Britain between 1889-90 using data from the US Commissioner of Labour survey conducted at that time. The determinants …

Persistent link: https://www.econbiz.de/10005788943

Optimal Capital Allocation Using RAROC And EVA

Stoughton, Neal; Zechner, Josef - C.E.P.R. Discussion Papers - 1999

This paper analyzes financial institutions' capital allocation decisions when their required equity capital depends on … can be delegated through an economic value added (EVA) compensation contract and solve for the optimal capital allocation …

Persistent link: https://www.econbiz.de/10005661956