The wage policy of a German and a U.S. firm is comparatively analysed with a focus on the relation between wages and hierarchies. While prior studies examine only one particular firm, in this paper two plants of the same owners with similar production processes in different institutional environments are inspected. Convex wage profiles over the hierarchy levels of both plants are found. The U.S...

This paper considers the optimal asset allocation problem for defined-contribution pension plan members whose terminal utility is a function of replacement ratio, i.e. the pension-to-final wage ratio. When three asset types are available for investment, the optimal portfolio composition, which is horizon dependent, includes investment in both riskless and risky assets. The investment in risky a...

The existing macroeconometric evidence lends support to the wage Phillips curve by showing a negative relation between the rate of change in wages and the unemployment rate, conditional on lagged price inflation. Most theoretical models of wage setting, however, generate a “wage curve,” described by a negative relation between the level of the real wage and unemployment. Real wage dynamics have...

The aim of the paper is to test hedonic wage model on data from the Czech labour market in order to obtain the Value of a Statistical Life from wage differential. In order to support an empirical basis for using the willingness-to-accept concept as a reliable method, we also examine the statistical relationship between changes in occupational rate of fatal risks and yearly average wages for eco...

According the qur’ānic verses, God is the first teacher of the Qur’ān. The Prophet (s) used different methods to teach the Qur’ān and recommended others to teach it, especially to one’s children. The question of the permissibility or impermissibility of receiving wage for the teaching of the Qur’ān has brought about some disagreements among Muslim scholars, where each group has relied on some q...

When labor incomes approach subsistence levels, the labor supply curve slopes outward, because the fight for survival mandates households to look for longer work hours in response to falling wage rates. We explore conditions under which near-subsistence scenarios may imply wage traps, labor market failures that can be the cause of undernourishment, illiteracy, and child labor. After stating gen...

â â â â  â  abstract â  most debates about the role of tariff cuts on the level of employment and rate of wages in labor market have come out of well-known hecscher – ohlin and stopler – samuelson (hos) theorems. considering the fact that we have divided the workforce into skilled and unskilled labors the present paper assesses the impacts of tariff cuts on labor market indicators in iran. ...