Education and wages of vocational training graduates

[EN] This paper attempts to explain individual variation in wages by estimating different wage equations. The study has two goals: first, to analyze the effect of years of schooling on the wages of vocational training graduates using a more precise measure for schooling than that commonly used in wage equations; and second, to analyze the effect on these wages of the match or mismatch between the knowledge and the skills acquired in the schooling and the needs of the job. The analysis shows that knowledge and skills acquired through vocational training (over-/under- education and over-/under- skilling), have a statistically significant influence on wages.

The Recent Structure of Wages in the Czech Republic

The project drew on an extensive firm-level sample of employees to describe in detail the recent evolution of the structure of wages in the Czech Republic between 1995 and 1998. The results of the analysis were then compared with information from EU countries. Regression analysis was used to study a number of specific questions, with particular emphasis being paid to proper weighting of the sample. Jurajda first quantified the effects on male and female hourly wages in the Czech Republic of worker age and education, firm size, region, industry and ownership type. He then examined whether these effects have been changing over time and how they differ by gender, and identified those industrial sectors that carry the largest wage premiums not accounted for by worker or firm characteristics, and measured the effect of unemployment on wages. He found a substantial increase in returns on human capital, with the earning differentials for education increasing substantially between 1995 and 1998, with these gains being largely comparable to those in western countries. Overall, the Czech structure of wages is now very responsive to market forces and is converging rapidly on EU-type flexibility in almost every dimension. It is likely, however, that due to the constrained supply of tertiary-educated workers in particular, the returns on education may keep on rising, surpassing levels typical of western economies and potentially reaching the high levels observed in developing countries.

Disparate Wages in a Globalized World

This study uses wage data from the UBS Prices and Earnings survey to highlight Disparate Wages in a Globalized World from di↵erent perspectives. This wage data is characterised by remarkable consistency over the last 40 years, as well as unusual global comparability. In the first chapter we analyse the convergence hypothesis for purchasing power adjusted wages across the world for 1970 to 2009. The results provide solid evidence for the hypotheses of absolute and conditional convergence in real wages, with the key driver being faster overall growing wage levels in lower wage countries compared to higher wage countries. At the same time, the highest skilled professions have experienced the highest wage growth, while low skilled workers’ wages have lagged, thus no convergence in this sense is found between skill groups. In the second chapter we examine deviations in international wages from Factor Price Equalisation theory (FPE). Following an approach analogous to Engel (1993) we find that deviations from FPE are more likely driven by the higher variability of wages between countries than by the variability of di↵erent wages within countries. With regard to the traditional analysis of the real exchange rate and the Balassa-Samuelson assumptions our analysis points to a larger impact on the real exchange rate likely stemming from the movements in the real exchange rate of tradables, and only to a lesser extent from the lack of equalisation of wages within countries. In the third chapter our results show that India’s economic and trade liberalisation, starting in the early 1990s, had very di↵erential impacts on skill premia, both over time and over skill levels. The most striking result is the large increase in wage inequality of high-skilled versus low-skilled professions. Both the synthetic control group method and the di↵erence-in-di↵erences (DID) approach suggest that a significant part of this increase in wage inequality can be attributed to India’s liberalisation.

Are Shirking and Leisure Substitutable? An Empirical Test of Efficiency Wages Based on Urban Economic Theory

Recent theoretical work has examined the spatial distribution of unemployment using the efficiency wage model as the mechanism by which unemployment arises in the urban economy. This paper extends the standard efficiency wage model in order to allow for behavioral substitution between leisure time at home and effort at work. In equilibrium, residing at a location with a long commute affects the time available for leisure at home and therefore affects the trade-off between effort at work and risk of unemployment. This model implies an empirical relationship between expected commutes and labor market outcomes, which is tested using the Public Use Microdata sample of the 2000 U.S. Decennial Census. The empirical results suggest that efficiency wages operate primarily for blue collar workers, i.e. workers who tend to be in occupations that face higher levels of supervision. For this subset of workers, longer commutes imply higher levels of unemployment and higher wages, which are both consistent with shirking and leisure being substitutable.

Monetary Policy Effects in Developing Countries with Minimum Wages

Using a Dynamic General Equilibrium (DGE) model, this study examines the effects of monetary policy in economies where minimum wages are bound. The findings show that the monetary-policy effect on a binding-minimum-wage economy is relatively small and quite persistent. This result suggests that these two characteristics of monetary policy in the minimum-wage model are rather different from those in the union-negotiation model which is often assumed to account for industrial economies.

A Fair Day's Wages: Liberty, Legality, and Liability Among Denver's Day Laborers

Day laborers occupy an essential position in Denver’s booming construction industry. Day laborers make up a highly flexible, highly effective workforce able to respond to market changes. For day laborers, informal day-labor gathering points provide increased control over working hours and employee-employer relationships when compared to traditional wage labor. Still, recent legislation and policies around irregular migration has forced large numbers of workers who may have benefited from the stability of full-time regular employment into the informal sector. The day laborers’ flexibility also exposes them to employers constantly inventing ways to deny them the wages and benefits they are owed. Despite changes in Colorado law in attempts to strengthen workers’ recourse against their employers, and despite social and individual tactics day laborers employ to mitigate their vulnerability, systematic structural, symbolic, and everyday violence continue to advantage employers.

Wages in foreign countries: National Industrial Conference Board

Includes bibliographical references.

Wages, hours and employment in American manufacturing industries July, 1914-January, 1924

Includes bibliographical references.

Wages and hours in American manufacturing industries: July, 1914 - January, 1922

National Industrial Conference Board.

Comparative wages, prices, and cost of living: (from the Sixteenth annual report of the Massachusetts Bureau of Statistics of Labor, for 1885)

Historical review of wages and prices. 1752-1860 -- Comparative wages, prices, and cost of living: Massachusetts and Great Britain. 1860-1883.