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inflation and declining real wages - governments must engage in a transformative agenda and go beyond emergency energy vouchers …, business as usual will not do. The share of wages to GDP has been declining since the late 1970s, deregulation of labor markets … the deterioration of living standards, a guarantee of minimum wages adequate to secure a decent living standard should be …
Persistent link: https://www.econbiz.de/10014474497
This paper incorporates assignment frictions and sector-specific training into the Roy model of occupational choice. Assignment frictions represent the extent of the market whereas differences in sector-specific training reflect worker specialization. This framework thus captures Adam Smith's...
Persistent link: https://www.econbiz.de/10010292365
This paper studies income poverty among the 50+ population in 10 EU countries using newly collected data from the SHARE (Survey of Health, Ageing and Retirement in Europe) project. A measure of the household's disposable annual income is used. Relative income poverty range from 10 percent (in...
Persistent link: https://www.econbiz.de/10010321533
quality. The theoretical model suggests that income inequality, coupled with political bias in favor of the rich, decreases … redistribution and lowers institutional quality. The effect of the former is to increase productive investment, and the effect of the … in a panel of countries, the paper finds that inequality has a negative effect on both institutional quality and …
Persistent link: https://www.econbiz.de/10010278272
Over the business cycle, labor's share of output is negatively but weakly correlated with output, and it lags output by about four quarters. Profit's share is strongly procyclical. It neither leads nor lags output, and its volatility is about four times that of output. Despite the importance of...
Persistent link: https://www.econbiz.de/10010292359
compression" of wages since early 2020 (Autor and Dube, 2022) is partly explained by the same amenity-value effect, which operates …
Persistent link: https://www.econbiz.de/10014278413
Using a VAR model of the American economy from 1984 to 2003, we find that, contrary to official claims, the Federal Reserve does not target inflation or react to inflation signals." Rather, the Fed reacts to the very real" signal sent by unemployment, in a way that suggests that a baseless fear...
Persistent link: https://www.econbiz.de/10010273826
The literature on public employment policies such as the job guarantee (JG) and the employer of last resort (ELR) often emphasizes their macroeconomic stabilization effects. But carefully designed and implemented policies like these can also have profound social transformative effects. In...
Persistent link: https://www.econbiz.de/10010286510
There is a growing body of literature investigating if and how monetary policy impacts income inequality. Labor unions … are generally found to mitigate income inequality and recent literature highlights that changing labor market structures … of monetary shocks on income inequality in the United States over the period 1970-2008, and the channels this effect runs …
Persistent link: https://www.econbiz.de/10013208873
This paper analyzes earnings inequality and earnings dynamics in Sweden over 1985- 2016. The deep recession in the … early 1990s marks a historic turning point with a massive increase in earnings inequality and earnings volatility, and the … in real earnings across the entire distribution for men and women and decreasing inequality over more than 20 years …
Persistent link: https://www.econbiz.de/10013394329