PROCYCLICAL RETAIL LABOUR PRODUCTIVITY

Labour Turnover and Labour Productivity in a Retail Organization

Labour Turnover and Labour Productivity in a Retail Organization We study the impact of labour turnover on labour productivity using a panel dataset of 347 shops belonging to a large UK clothing retailer over1995-1999. For the within-shop link – holding constant the shop’s permanent characteristics – we observe an inverted U-shape effect of labour turnover on productivity. The productivity-maxi...

Inflexible Prices and Procyclical Productivity

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Retail Productivity

Procyclical Real Wages Under Nominal-Wage Contracts With Productivity Variations

A frequent criticism directed at many macroeconomic models, especially those with wage stickiness, concerns their inability to account for the procyclical pattern of real wages. This article offers a resolution of this problem by introducing productivity factors into the determination of sticky wages. This resolution makes the resulting model more consistent with standard microeconomic theory a...

Labour Productivity Superstatistics

We discuss superstatistics theory of labour productivity. Productivity distribution across workers, firms and industrial sectors are studied empirically and found to obey powerdistributions, in sharp contrast to the equilibrium theories of mainstream economics. The Pareto index is found to decrease with the level of aggregation, i.e., from workers to firms and to industrial sectors. In order to...