In this paper we examine the link between wage inequality and consumption inequality using a life cycle model that incorporates household consumption and family labor supply decisions. We derive analytical expressions based on approximations for the dynamics of consumption, hours, and earnings of two earners in the presence of correlated wage shocks, non-separability and asset accumulation deci...

Mainstream neoclassical economics takes it as given that the consumption of goods and services (output) is positively related to well-being. Work (labour-input) is assumed to be negatively related to well-being at the margin and so is only undertaken in exchange for payment. This view has been challenged for decades in the psychology and sociology literature and results suggests that employment...

This paper presents a simple New-Keynesian small open economy model allowing for labour to be supplied both domestically and abroad with a locational preference to work at home rather than abroad. From this small change in the otherwise standard setup follows an important implication for the Phillips-curve: The opening of the "labour account" reduces the output-in‡ation trade-o¤, i.e. the Phill...

This paper aims to explain the cross sectional differences in, and the time series evolution of, OECD unemployment from 1960 to 1995. We want to know how much of it can be accounted for by changes in labour market institutions, and the interactions of institutions and macroeconomic shocks. Our aim is also to verify the consistency of unemployment fluctuations with the labour cost results presen...

We develop a theoretical model of individual labour supply in which the canonical model of the competitive labour market emerges as a special case. More generally, we are able to characterise labour supply behaviour when, in the absence of a continuum of jobs, firms are able to push workers on to lower indifference curves and off their labour supply curve. We show that in such circumstances wag...

Wage Determination and Imperfect Competition A striking feature of the past few decades has been the development of wage-determination models that assume that labour markets are imperfectly competitive. This paper discusses two such models (trade unions and oligopsony), although there are many more. It also asks if imperfectly competitive models should be used whenever researchers are modelling...

Abstract This chapter deals with gender economics, and management, innovation. After introducing the general concept of feminist economics its critique mainstream this explains meaning indicators, parity, equality, mainstreaming. It further investigates factors causing inequalities in labour market. Gender is afterwards addressed from a managerial perspective, embracing multidimensional notion ...

Barnett and Morse’ examined the economics of natural resource availability using data on capital, labour and output for the USA between 1870 and 1957. They tested the hypothesis that the scarcity of natural resources was increasing by examining the trend of unit cost of extractive products in the agricultural, mineral, forestry and fishing industries. Working in terms of index numbers they defi...