Do Wages Compensate for Anticipated Working Time Restrictions? Evidence from Seasonal Employment in Austria This paper investigates the existence of compensating wage differentials across seasonal and non seasonal jobs which arise due to anticipated working time restrictions. We build on a theoretical model by Abowd and Ashenfelter (1981), which links the compensating wage differential to varia...

For Britain, during the long period Phillips studied, an unemployment rate of about 2.5% was associated with a rise in wages of about 2% each year. Allowing for productivity growth, that was roughly consistent with stable prices. By and large, higher rates of unemployment were observed when prices were falling; lower rates were observed when prices were rising. The lower the rate of joblessness...

In this paper, we extend the Diamond-Mortensen-Pissarides model of equilibrium unemployment to incorporate public-sector employment. We calibrate the model to Colombian data and analyze the effects of public-sector wage and employment policy on the unemployment rate, on the division of employment between the private and public sectors, and on the distributions of wages, productivities and educa...

CONTRIBUTIONS to the unemployment trust fund on 1945 wages are estimated at $1.05 billion, 1 or about 1 1 percent below the previous year's total of $1.17 billion. Although the end of the war in August 1945 caused taxable wages for 1945 to decline from *Prepared in the Program Division, Bureau of Employment Security. 1 Except for the discussion on page 16, the effect of war-risk provisions (inc...

The average unemployment rate for 1997 was 4.9 percent, well below most estimates of the nonaccelerating inflation rate of unemployment (NAIRU).1 One would therefore have expected to see an increase in inflation in 1997; yet, as measured by the CPI, inflation fell from 3.3 percent to 1.7 percent (December to December). This phenomenon of low unemployment accompanied by falling inflation has pro...

Efficiency wages theories argue that the threat of firing, coupled with a high unemployment rate, is a mechanism that discourages employee shirking in asymmetric information contexts. Our empirical analysis aims to test the role of unemployment as a worker discipline device, considering the different degree of job security offered by the Italian Employment Protection Legislation to workers empl...

High unemployment has been a problem in Europe for three decades. The orthodox view points to the institutional rigidity of national labor markets in Europe as a principal cause of high unemployment, and to labor market ‘flexibilization’ as the cure. An alternative view argues that the problem of unemployment in Europe indicates macroeconomic policy failure – an insufficiency of aggregate effec...