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"Wage policy"
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Firm Response to Competitive Shocks
The large regional variation in minimum wage levels during the period 2002–8 in China implies that Chinese manufacturing firms experienced competitive shocks as a function of firm location and their low-wage employment share. We find that minimum wage hikes accelerate the input substitution from labour to capital, reduce employment growth and accelerate total factor productivity growth—particularly among the less productive firms under private Chinese or foreign ownership, but not among state-owned enterprises. The heterogeneous firm response to labour cost shocks can be explained by differences in management practices and suggests that management quality and competitive pressure are complementary.
Journal Article
City power : urban governance in a global age
\"Reigning theories of urban power suggest that in a world dominated by footloose transnational capital, cities have little capacity to effect social change. In City Power, Schragger challenges this conventional wisdom, arguing that cities can and should pursue aims other than making themselves attractive to global capital. Using the municipal living wage movement as an example, Schragger explains why cities are well-positioned to address issues like income equality and how our institutions can be designed to allow them to do so\"-- Provided by publisher.
Book
When mandates work
Starting in the 1990s, San Francisco launched a series of bold but relatively unknown public policy experiments to improve wages and benefits for thousands of local workers. Since then, scholars have documented the effects of those policies on compensation, productivity, job creation, and health coverage. Opponents predicted a range of negative impacts, but the evidence tells a decidedly different tale. This book brings together that evidence for the first time, reviews it as a whole, and considers its lessons for local, state, and federal policymakers.
eBook
Minimum Wage Policy in Great Britain and the United States
In a thorough and well-documented study of the American and British experience with minimum wage legislation, Prof. Jerold Waltman describes and analyzes the operation of current minimum wage policies and politics in both countries. Where are we and how did we get here? For Britain, he chronicles the events leading up to the enactment of the National Minimum Wage, and then discusses its subsequent evolution. Turning to the United States, he covers the almost moribund but still important federal minimum wage, and then traces developments on the state and local front. After that, he takes up the accomplishments of the living wage movement in each nation. He then assesses whether or not contemporary advocates for heightened minimum wages are laying the groundwork for a rejuvenated welfare state. Are they fashioning a public philosophy that will make the minimum wage once again a central feature of the welfare state, or are they heading down other paths? Providing a context within which to evaluate opposing policy proposals, he also discusses the general aspects of minimum wage policy and examines in detail the history of minimum wages in the two countries.
eBook
THE EFFECTIVENESS OF MINIMUM-WAGE INCREASES IN REDUCING POVERTY: PAST, PRESENT, AND FUTURE
Extending the work of Card and Krueger, we find minimum‐wage increases (1988–2003) did not affect poverty rates overall, or among the working poor or among single mothers. Despite employment growth among single mothers, most gainers lived in nonpoor families and most working poor already had wages above the proposed minimums. Simulating a new federal minimum wage of $7.25 per hour, we find 87% of workers who benefit live in nonpoor families. Poor single mothers receive 3.8% of all benefits. Expanding the Earned Income Tax Credit would far more effectively reduce poverty, especially for single mothers. (JEL J21, J31, J38)
Journal Article
The Swedish third way: an assessment of the performance and validity of the Rehn–Meidner model
This paper analyses the functioning of the Rehn–Meidner model in Sweden and the validity of the model's underlying theory. Both sceptics and friends of ‘the Swedish model’ have exaggerated the effects of active labour market policy and solidarity wage policy on employment, inflation and growth. However, these policies have contributed to the reduction of hysteresis effects and wage differentials in Sweden. Furthermore, Swedish experiences confirm the Rehn–Meidner view that positive demand shocks and expansionary macroeconomic policies make it difficult to combine full employment with price stability, economic growth and equity even if central wage negotiations are coordinated and trade unions willingly accept wage restraint.
Journal Article
Optimal Public Sector Wages
I build a dynamic stochastic general equilibrium model with search and matching frictions to determine the optimal public sector wage policy. Public sector wages are crucial in achieving efficient allocation of jobs. High wages induce too many unemployed to queue for public sector jobs, in turn raising unemployment. The optimal wage depends on the frictions in the two sectors. Following technology shocks, public sector wages should be pro-cyclical and deviations from the optimal policy significantly increase the volatility of unemployment.
Journal Article
How Effective Is the Minimum Wage at Supporting the Poor?
This study investigates the antipoverty efficacy of minimum wage policies. Proponents of these policies contend that employment impacts are negligible and suggest that consumers pay for higher labor costs through imperceptible increases in goods prices. Adopting this empirical scenario, the analysis demonstrates that an increase in the national minimum wage produces a value-added tax effect on consumer prices that is more regressive than a typical state sales tax and allocates benefits as higher earnings nearly evenly across the income distribution. These income-transfer outcomes sharply contradict portraying an increase in the minimum wage as an antipoverty initiative.
Journal Article
Wage Policy, Income Distribution, and Democratic Theory
Wage policy can be broadly defined as a set of institutions designed to bolster the wages of workers, especially for those workers who lack negotiating power. This book concentrates on the relationship between wage policy and the distribution of income and the maintenance of a sustainable democracy. Whereas economists have looked at this issue in relation to labour markets, this book aims to reset the balance by focusing on issues such as equality and democratic theory.
This book makes an important contribution to the literature of public policy, political philosophy and political economy. Levin-Waldman argues that wage policy is an important component in the maintenance of democratic society and that a reduction in income inequality can have a positive effect both on personal autonomy and empowerment.
1. Introduction 2. Democratic Theory 3. Evolution of Wage Policy 4. Post New Deal Era and the Demise of Wage Policy 5. New Living Wage Movement 6. Wage Policy for the Middle Class 7. Wage Policy and the Path Towards Democracy
eBook