The Living Wage: Reducing inequality in the UK?

The revival of support for a living wage has reopened a long-run debate over the extent to which active regulation of labour markets may be necessary to attain desired outcomes. Market failure is suggested to result in lower wages and remuneration for low skilled workers than might otherwise be expected from models of perfect competition. This paper examines the theoretical underpinning of living wage campaigns and demonstrates that once we move away from idealised models of perfect competition to one where employers retain power over the bargaining process, such as monopsony, it is readily understandable that low wages may be endemic in low skilled employment contracts. The paper then examines evidence, derived from the UK Quarterly Labour Force Survey, for the extent to which a living wage will address low pay within the labour force. We highlight the greater incidence of low pay within the private sector and then focus upon the public sector where the Living Wage demand has had most impact. We examine the extent to which addressing low pay within the public sector increases costs. We further highlight the evidence that a predominance of low pay exists among public sector young and women workers (and in particular lone parent women workers) but not, perhaps surprisingly, among workers from ethnic minority backgrounds. The paper then builds upon the results from the Quarterly Labour Force Survey with analysis of the British Household Panel Survey in order to examine the impact the introduction of a living wage, within the public sector, would have in reducing household inequality. The paper concludes that a living wage is indeed an appropriate regulatory response to market failure for low skilled workers and can act to reduce age and gender pay inequality, and reduce household income inequality among in-work households below average earnings.

Contagious Illiquidity I: Contagion through Time

This paper is an investigation into the dynamics of asset markets with adverse selection a la Akerlof (1970). The particular question asked is: can market failure at some later date precipitate market failure at an earlier date? The answer is yes: there can be "contagious illiquidity" from the future back to the present. The mechanism works as follows. If the market is expected to break down in the future, then agents holding assets they know to be lemons (assets with low returns) will be forced to hold them for longer - they cannot quickly resell them. As a result, the effective difference in payoff between a lemon and a good asset is greater. But it is known from the static Akerlof model that the greater the payoff differential between lemons and non-lemons, the more likely is the market to break down. Hence market failure in the future is more likely to lead to market failure today. Conversely, if the market is not anticipated to break down in the future, assets can be readily sold and hence an agent discovering that his or her asset is a lemon can quickly jettison it. In effect, there is little difference in payoff between a lemon and a good asset. The logic of the static Akerlof model then runs the other way: the small payoff differential is unlikely to lead to market breakdown today. The conclusion of the paper is that the nature of today's market - liquid or illiquid - hinges critically on the nature of tomorrow's market, which in turn depends on the next day's, and so on. The tail wags the dog.

Analyzing aggregate real exchange rate persistence through the lens of sectoral data

In this paper we analyze the persistence of aggregate real exchange rates (RERs) for a group of EU-15 countries by using sectoral data. The tight relation between aggregate and sectoral persistence recently investigated by Mayoral (2008) allows us to decompose aggregate RER persistence into the persistence of its different subcomponents. We show that the distribution of sectoral persistence is highly heterogeneous and very skewed to the right, and that a limited number of sectors are responsible for the high levels of persistence observed at the aggregate level. We use quantile regression to investigate whether the traditional theories proposed to account for the slow reversion to parity (lack of arbitrage due to nontradibilities or imperfect competition and price stickiness) are able to explain the behavior of the upper quantiles of sectoral persistence. We conclude that pricing to market in the intermediate goods sector together with price stickiness have more explanatory power than variables related to the tradability of the goods or their inputs.

Mirall trencat, del llibre a la televisió: anàlisi comparativa dels personatges femenins

Treball de recerca realitzat per una alumna d'ensenyament secundari i guardonat amb un Premi CIRIT per fomentar l'esperit científic del Jovent l'any 2009. Partint de l’obra ‘Mirall trencat’ de Mercè Rodoreda, una de les més grans escriptores catalanes de tots els temps nascuda enguany fa un centenari, hem pretès fer una anàlisi interdisciplinària en relació amb l’adaptació televisiva duta a terme per J. M. Benet i Jornet. Amb la documentació prèvia com a antecedent, hem pres els personatges femenins principals (aquells més ben dibuixats en la novel•la) com a objecte del nostre estudi de manera que el treball pugui ser el més rigorós possible. Així doncs, el nostre resultat és una extensa anàlisi comparativa que parteix dels trets més característics de Teresa, Sofia, Maria i Armanda per arribar a reflectir la manera com aquests mateixos personatges són retratats a la sèrie.

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Induction chemotherapy, as part of an integrated plan of management for locally advanced cancers, is being practised throughout the world in independent, isolated departments in universities, teaching hospitals, and clinical schools. Frequently, however, teams are relatively unaware of the work being undertaken in other institutions, and this situation may slow further progress. This book aims to present the full range of management techniques and practices used in induction chemotherapy within one accessible volume. It provides up-to-date information on the pioneering and cutting edge practices employed in different institutions and documents the advantages of integrated treatment schedules. Patient selection is discussed, and each of the cancer types for which induction therapy has proved important is considered in detail. All who are responsible for the treatment of patients with locally advanced cancers will find this book to be an invaluable source of information. It will be particularly interesting for specialist oncologists aiming to set up and develop fully comprehensive cancer centres and for health administrators wishing to learn about the benefits of establishing such centres in strategic locations.

Self-identity and religion/spirituality

Although medicine is practised in a secular setting, religious and spiritual issues have an impact on patient perspectives regarding their health and the management of any disorders that may afflict them. This is especially true in psychiatry, as feelings of spirituality and religiousness are very prevalent among the mentally ill. Clinicians are rarely aware of the importance of religion and understand little of its value as a mediating force for coping with mental illness. This book addresses various issues concerning mental illness in psychiatry: the relation of religious issues to mental health; the tension between a theoretical approach to problems and psychiatric approaches; the importance of addressing these varying approaches in patient care and how to do so; and differing ways to approach Christian, Muslim, and Buddhist patients. This is the first book to specifically cover the impact of religion and spirituality on mental illness.

COSMOS : gestor de continguts accessibles

Cada cop són més els usuaris que es troben amb la necessitat de posar els seus serveis i/o productes a Internet. Un cop que els usuaris prenen aquesta decisió, és habitual que es trobin amb eines poc intuïtives i complexes que dificulten la tasca de manteniment de la informació que es vol mostrar al portal web. La finalitat d'aquest projecte és apropar les tasques de manteniment als usuaris per tal que puguin modificar els continguts publicats al seu portal web, independentment de la seves capacitats tecnològiques o sensorials.

When Sally met Sammy

This booklet aims to increase a child's experience of healthy food from an early age and encourages a positive attitude towards a healthy diet. You and your child can decide together which end of the book to start with - Sally's story or Sammy's story. The idea is that you then read the other story, and finish with the fun, fold-out section in the middle, where Sammy realises the error of his ways and devotes himself to a lifetime of healthy lunches with his new friend Sally!

Gestió del coneixement aplicada a projectes informàtics

Avui dia el coneixement s'ha convertit en l'actiu més valuós de qualsevol organització, i la gestió d'aquest actiu, en una necessitat. La competitivitat de les empreses i, per tant, la seva supervivència depenen, en gran manera, del fet que aquest coneixement es pugui preservar i emprar eficientment. Quantes vegades hem perdut el temps innecessàriament cercant documents que nosaltres mateixos hem guardat en algun lloc i que no sabem trobar, o hem desaprofitat la informació d'altres perquè no sabem que existeix, o hem hagut de demanar informació a altres persones perquè nosaltres no la tenim a la nostra disposició o no sabem com trobar-la. Tot això i molt més pot quedar resolt amb una bona gestió del coneixement. Si haguéssim de definir què és la gestió del coneixement, podríem dir que és tot el conjunt d'activitats que tenen com a finalitat fer servir, compartir i desenvolupar els coneixements d'una organització i de les persones que hi treballen per a aconseguir una millora en els seus objectius, ser més precisos en la presa de decisions i poder donar una resposta més ràpida a les necessitats del mercat. Però implantar la gestió del coneixement en una empresa no és una tasca fàcil ni immediata. A banda de comportar un canvi organitzatiu important, cal que hi hagi un suport tecnològic, cosa que implica definir uns processos, abans inexistents i que ara han de ser aplicats i veure com s'integra en el funcionament de l'activitat diària de l'empresa, en aquest cas, el desenvolupament de projectes informàtics.

We get 10 of our 60 minutes playing football

This poster highlights the importance of children being physically active for at least 60 minutes every day. Parents, carers and children are encouraged to visit the website www.getalifegetactive.com to download the activity log book to track how much activity they are doing daily.

Presència, traducció i recepció de la literatura del Quebec a Catalunya

Les literatures francòfones, relegades durant molts anys a una quasi total indiferència per part de la literatura francesa, han pres en els últims quinze anys una importància considerable. L'esforç per part de molts professors d'incloure aquestes literatures en els programes d'ensenyament està donant els seus fruits. L'interès suscitat per l'estudi de la literatura quebequesa i l'apogeu que està prenent a Catalunya –a més de les bones relacions Catalunya-Quebec– van ser el motor d’una recerca sobre la presència, la traducció i la recepció de la literatura de Quebec a Catalunya. Per tal de conèixer l’estat de la qüestió, es va procedir, en un primer temps, a un seguiment de tot el que s’havia publicat a Catalunya referent a la literatura del Quebec. Igualment, es va sondejar els treballs sobre aquesta matèria que no havien estat objecte de publicació i es va recopilar la diversa informació sobre les manifestacions culturals relacionades amb aquesta matèria. En un segon temps, es va procedir a l’estudi dels materials obtinguts i a la seva avaluació. Malgrat la presència recent de la literatura del Quebec a Catalunya i la manca de planificació institucional per dur a terme una traducció sistemàtica que permeti mostrar l’estat actual d’aquesta literatura, es troba, cada vegada més, una voluntat manifesta de donar a conèixer aquesta cultura provinent de Quebec ja sigui per afinitats o voluntats individuals o per respondre a les tendències de mercat.

Religion/Spirituality and dissociative disorders

Although medicine is practised in a secular setting, religious and spiritual issues have an impact on patient perspectives regarding their health and the management of any disorders that may afflict them. This is especially true in psychiatry, as feelings of spirituality and religiousness are very prevalent among the mentally ill. Clinicians are rarely aware of the importance of religion and understand little of its value as a mediating force for coping with mental illness. This book addresses various issues concerning mental illness in psychiatry: the relation of religious issues to mental health; the tension between a theoretical approach to problems and psychiatric approaches; the importance of addressing these varying approaches in patient care and how to do so; and differing ways to approach Christian, Muslim, and Buddhist patients. This is the first book to specifically cover the impact of religion and spirituality on mental illness.

Agents and intermediaries

Managing Football is the first book to directly respond to the rapid managerial, commercial and global development of the sport and offers a thorough analysis of how the football industry can meet the challenges that flow from these developments. Expertly edited by two well known specialists in football business management, it draws together the work of a world-class contributor team to form a comprehensive analysis of the most important issues facing the managers of football businesses across the world. The cutting edge analysis examines all the important business challenges in the football industry and the management of football businesses and covers all of the key football markets including England, Spain, France, Italy, Germany, Australia, North America, China, South Africa, South Korea, the Netherlands & Belgium, and Mexico. Managing Football is simply a must-read for anyone studying or working in football business management and is set to be an important landmark in this rapidly moving and globally expansive field.

O grau de orientação para o mercado dos hotéis em Cabo Verde

Dada a importância do conceito de orientação para o mercado e a inexistência de estudos que estudem o seu grau de implementação nas empresas Cabo-Verdianas, este estudo visa medir o grau de orientação para o mercado dos hotéis em Cabo Verde. O estudo foi aplicado às unidades hoteleiras do sector turístico em Cabo Verde com o objectivo de: (i) determinar o grau de orientação para o mercado dos hotéis em Cabo Verde e (ii) verificar a existência de diferenças significativas no grau de orientação para o mercado dos hotéis em função da existência de departamento de marketing nos hotéis, a área funcional dos respondentes, a localização geográfica dos hotéis e a procedência do capital social maioritário. As conclusões do estudo sugerem que em termos gerais, os hotéis, em Cabo Verde, segundo as percepções dos gestores, tem um nível médio de orientação para o mercado. Os resultados mostraram ainda que apenas existe uma diferença significativa no grau de geração e resposta ao mercado, entre os hotéis nacionais e os estrangeiros. Igualmente, constatou-se que, existe uma diferença significativa, no grau de geração e disseminação de informação de mercado, entre a percepção da área comercial e ou marketing e as restantes áreas das unidades hoteleiras. Entretanto, relativamente à localização dos hotéis e à existência ou não de departamentos de marketing, não foi confirmada a existência de diferenças significativas no grau de geração, disseminação de informação e resposta ao mercado. Due to the importance given to the concept of market orientation and the lack of studies which examine its level of implementation in Cape Verdean companies, this research aims to measure the level of market orientation of hotels in Cape Verde. This study was applied to hotel units in Cape Verde with the aim of: (i) determining the level of market orientation in Cape Verde hotels and (ii) verifying the existence of significant differences in the degree of market orientation of hotels which have or not a marketing department, the professional area of the respondents, the geographic location of the hotels and the origin of the majority funds. According to the managers’ perceptions, the results suggest that in general terms, the hotels, in Cape Verde, , have an intermediate level of market orientation. The results also show that there is a significant difference between national and foreign hotels regarding information generation and responsiveness to market. In the same way, there is as significant difference on the degree of generation and dissemination of information between the functional commercial areas and the others functional hotel areas. However, there was no significant difference on what concerns generation, dissemination and market responsiveness, regarding hotels location and the existence or not of marketing departments.

Protecting our bridges for the future, April 2006

Changes in agriculture operations over the past 35 years are having a dramatic impact on Iowa’s roads and bridges. The average size of an Iowa farm has increased to 352 acres in 2003, compared to 237 acres in 1970. Modern agricultural practices have also produced higher yields per acre, which means more grain to haul to market. In order to increase efficiency, farmers are beginning to use larger capacity wagons hauling more bushels per trip to the elevator, and using much heavier equipment in their farming operations. This trend is stressing Iowa bridges beyond the current capabilities to maintain them.