Sectoral Labor Employment in a Caribbean Economy: The Case of Barbados

1994 ◽  
Vol 23 (1) ◽  
pp. 49-66 ◽  
Author(s):  
Addington Coppin
Keyword(s):  
Real Wage ◽  
Labor Demand ◽  
Labor Cost ◽  
Real Output ◽  
Real Wages ◽  
Aggregate Output ◽  
Capital Deepening ◽  
Producer Prices ◽  
The Caribbean ◽  
Cost Factors

This study examines the demand for labor in five major sectors of the Caribbean economy of Barbados. While the demand for labor function in the nontradable sectors appears well-defined in terms of real wages and real aggregate output, the inclusion of a variable to capture the effects of capital-deepening appears important to the specification of labor demand in the tradable sectors—agriculture and manufacturing. Low estimates of real wage elasticities and real output elasticities in the vicinity of unity suggest that employers in the major sectors are more likely to alter their demand for labor based on expectations of the economy's performance than in response to labor cost factors denominated in producer prices.

The Employment –Wage Relationship Was Keynes right after all?

2008 ◽  
Vol 6 (1) ◽  
Author(s):  
Nicholas Apergis ◽  
Keyword(s):  
Real Wage ◽  
Panel Cointegration ◽  
Oecd Countries ◽  
Statistical Evidence ◽  
Real Wages ◽  
Long Run ◽  
Short Run

This paper investigates the existence and direction of a relationship between real wages and employment. Using a panel from ten different OECD countries, from 1950 to 2005, it applies panel cointegration and causality methodology. This study finds statistical evidence for a long run relationship between these two variables. However, it firmly rejects the hypothesis that wages cause employment in the short-run. Thus the results support Keynes’s view namely, real wages fall because employment increases, presumably via an increase in demand. The results imply that real wage reduction is not sufficient to induce an expansion of output and employment.

Models of the UK Economy and the Real Wage-Employment Debate

1985 ◽  
Vol 112 ◽  
pp. 41-52 ◽  
Author(s):  
M.J. Andrews ◽  
D.N.F. Bell ◽  
P.G. Fisher ◽  
K.F. Wallis ◽  
J.D. Whitley
Keyword(s):  
Real Wage ◽  
Business School ◽  
Social Research ◽  
Direct Reduction ◽  
Real Wages ◽  
The Real ◽  
Implicit Model ◽  
Wage Employment ◽  
Type Of Exercise ◽  
The Uk

This article is an example of the type of exercise that is made possible by the existence of the set of UK models at Warwick. Using three quarterly models, those of the London Business School (LBS), the National Institute of Economic and Social Research (NIESR) and Her Majesty's Treasury (HMT), and two annual models, those of the City University Business School (CUBS) and the Liverpool University Research Group in Macroeconomics (LPL), it considers the use, and possible abuse, of such models of the UK economy to illustrate the real wage—employment debate.In UK models real wages and employment are determined jointly and the article shows that the sign of the association between these two variables depends ore the nature of the shock which causes real wages to change. A common method of analysis is to perturb the endogenous real wage directly and although the results are quantitatively similar to those where the change to real wages results from a supply-side shock to the labour market, it is argued that such exercises are typically without foundation since no mechanism for achieving a direct reduction in real wages is put forward. Any implicit model which underpins the assumption of an exogenous shift in an endogenous variable needs to be stated clearly in order for the plausibility of the ‘intervention’ and resulting policy analysis to be assessed.

scholarly journals Is Real Depreciation or More Government Deficit Expansionary? The Case of Slovenia

2017 ◽  
Vol 12 (1) ◽  
pp. 50-56 ◽  
Author(s):  
Yu Hsing
Keyword(s):  
Exchange Rate ◽  
Fiscal Policy ◽  
Real Exchange Rate ◽  
Central Government ◽  
Empirical Work ◽  
Labor Cost ◽  
Aggregate Output ◽  
The Real ◽  
Government Deficit ◽  
The Government

AbstractThe purpose of this paper is to examine the impacts of the real exchange rate, the government deficit and other relevant variables on aggregate output in Slovenia. Few of the previous studies have applied the AD/AS model to examine the impacts of major macroeconomic variables on aggregate output. This paper makes contributions to the literature by applying a rigorous model to examine how real GDP is affected by the real exchange rate, fiscal policy and other related variables. The exponential GARCH model is applied in empirical work. The paper finds that real depreciation of the Euro may affect Slovenia’s aggregate output positively or negatively and that more central government deficit as a percent of GDP does not affect aggregate output. In addition, Slovenia’s aggregate output is positively associated with the real stock price, the real oil price and real total labor cost or wage and is negatively influenced by the real lending rate and the expected inflation rate. Recent real depreciation of the Euro would help Slovenia’s aggregate output whereas expansionary fiscal policy would not be effective in stimulating the economy.

scholarly journals Comparative Analysis of Average Monthly Real Pay of Corporate Employees in Irkutsk Oblast in Terms of Types of Economic Activity

2018 ◽  
Vol 28 (3) ◽  
pp. 409-418
Author(s):  
Evgeniia Baldynova ◽  
Svetlana Malyutina
Keyword(s):  
Comparative Analysis ◽  
Real Wage ◽  
Economic Activity ◽  
Irkutsk Oblast ◽  
Real Wages ◽  
The Real ◽  
Monetary Compensation

The rate of salary and remuneration as monetary compensation for labour depends on many factors that can be combined into the following groups: territorial, organizational and legal, gender, professional and educational, etc. The article examines the dependence of the average monthly real wage on the type of economic activity. In addition, the authors study the dynamics and degree of variation of the average monthly real wages in terms of types of economic activity in Irkutsk Oblast. Having analyzed the real average monthly wages by types of economic activity, the authors categorized them into several groups according to their scale.

scholarly journals Panel Estimation for the Relationship between Real Wage, Inflation and Labor Productivity for OECD Countries

2019 ◽  
Author(s):  
Sevilay Konya ◽  
Zeynep Karaçor ◽  
Mücahide Küçüksucu
Keyword(s):  
Labor Productivity ◽  
Real Wage ◽  
Slovak Republic ◽  
Oecd Countries ◽  
Panel Estimation ◽  
Economic Literature ◽  
Real Wages ◽  
Wage Inflation ◽  
The Relationship ◽  
Cointegration Relationship

There are studies examining the relationship between real wage, inflation and labor productivity in the economic literature. Increase in real wages causes to an increase in labor productivity. On the other hand, productivity increases also induce inflation to fall. Therefore, the aim of this study is to investigate the relationship between real wage, inflation and labor productivity in the 22 OECD countries (Australia, Belgium, Canada, Chile, Czech Republic, France, Greece, Hungary, Japan, Korea, Latvia, Luxembourg, Mexico, Netherlands, New Zealand, Poland, Portugal, Slovak Republic, Slovenia, Spain, Turkey, United States) in the period of 1995-2017 by panel data methods. According to results, the cointegration relationship between real wage, inflation and labor productivity was found. In addition, mutual causality was determined between the variables we discussed.

scholarly journals The Relationship between Real Wages and Output: Evidence from Pakistan

2000 ◽  
Vol 39 (4II) ◽  
pp. 1111-1126 ◽  
Author(s):  
Afia Malik ◽  
Ather Maqsood Ahmed
Keyword(s):  
Business Cycles ◽  
Interest Rates ◽  
Real Wage ◽  
Phillips Curve ◽  
Labour Supply ◽  
Nominal Wage ◽  
Purchasing Power ◽  
Real Wages ◽  
The Real ◽  
The Relationship

Information on wage levels is essential in evaluating the living standards and conditions of work and life of the workers. Since nominal wage fails to explain the purchasing power of employees, real wage is considered as a major indicator of employees purchasing power and can be used as proxy for their level of income. Any fluctuations in the real wage rate have a significant impact on poverty and the distribution of income. When used in relation with other economic variables, for instance employment or output they are valuable indicators in the analysis of business cycles. There has been a long debate regarding the relationship between real wages and the employment (output). Despite the apparent simplicity, the relationship between real wages and output has remained deceptive both theoretically and empirically. Keynes (1936) viewed cyclical movements in employment along a stable labour demand schedule thus indicating counter cyclical real wages. His deduction is in line with sticky wages and sticky expectations, which augments models like Phillips curve. In these models real wages behaved as counter-cyclical as nominal wages are slow to adjust during recession (decrease in aggregate demand and associated slowdown in price growth). Stickiness of wages or expectations shifts the labour supply over the business cycles [Abraham and Haltiwanger (1995)]. Barro (1990) and Christiano and Eichenbaum (1992) have associated these labour supply shifts with intertemporal labour-leisure substitution. This in response to temporary changes in real interest rates (fiscal policy shocks) could yield counter-cyclical real wages. However, Long and Plosser (1983) and Kydland and Prescott (1982) while studying the real business cycle models highlight on the technology shocks which leads to pro-cyclical real wages.

Union Wage Determination in Canadian and U.S. Manufacturing, 1964–1990: A Comparative Analysis

ILR Review ◽  
1996 ◽  
Vol 49 (4) ◽  
pp. 673-689
Author(s):  
John W. Budd
Keyword(s):  
United States ◽  
Real Wage ◽  
Union Wage ◽  
The United States ◽  
Manufacturing Firms ◽  
Wage Bargaining ◽  
Wage Determination ◽  
Nominal Wage ◽  
Real Wages ◽  
Wage Change

The author analyzes nominal and real wage changes in unionized manufacturing firms in Canada and the United States over the years 1964–90. He finds more differences between the countries' patterns of wage determination in the years 1964–79 than have commonly been recognized. In the 1980s, the nominal wage determination structure changed more sharply in the United States than in Canada. Real wage determination changed little in the United States before 1986, while after 1986 observed real wage growth was significantly smaller than what would have been predicted based on patterns of bargaining in earlier years. In Canada, real wages in the 1980s were significantly higher than they would have been if the previous patterns of wage determination had persisted. Both the nominal and real wage change results suggest that unions in U.S. manufacturing fared poorly in wage bargaining in the 1980s by comparison with their Canadian counterparts.

scholarly journals The Effects of the Real Oil Price on Regional Wage Dispersion

2017 ◽  
Vol 9 (2) ◽  
pp. 115-148 ◽  
Author(s):  
Matthias Kehrig ◽  
Nicolas L. Ziebarth
Keyword(s):  
Spatial Model ◽  
Energy Intensity ◽  
Housing Prices ◽  
Labor Demand ◽  
Wage Dispersion ◽  
Real Wages ◽  
Oil Supply ◽  
Supply Shocks ◽  
Demand Shifts ◽  
Oil Supply Shocks

We find that oil supply shocks decrease average real wages, particularly skilled wages, and increase wage dispersion across regions, particularly unskilled wage dispersion. In a model with spatial energy intensity differences and nontradables, labor demand shifts, while explaining the response of average wages to oil supply shocks, have counterfactual implications for the response of wage dispersion. Only an additional response in labor supply can explain this latter fact, highlighting the importance of general equilibrium effects in a spatial context. We provide additional empirical evidence of regionally directed worker reallocation and housing prices consistent with our spatial model. Finally, we show that a calibrated version of our model can quantitatively match the estimated effects of oil supply shocks. (JEL E24, J22, J23, J24, J31, Q35, R23)

scholarly journals Techno-economic performance of 4-row self-propelled mechanical rice transplanter at farmers field in Bangladesh

2016 ◽  
Vol 27 (3) ◽  
pp. 369-382
Author(s):  
AKMS Islam ◽  
MA Rahman ◽  
AKML Rahman ◽  
MT Islam ◽  
MI Rahman
Keyword(s):  
Crop Production ◽  
Block Design ◽  
Rice Variety ◽  
Labor Demand ◽  
Field Capacity ◽  
Labor Cost ◽  
Labor Requirement ◽  
Seedbed Preparation ◽  
The Cost ◽  
Input Cost

Mechanical transplanting is an emerging technology in Bangladesh agriculture. Deadong DP480 rice transplanter was used to conduct the experiment which is imported from South Korea and China. The performance of this machine needs to be thoroughly investigated in local condition. This experiment was conducted in Boro (2015) season in the farmers’ field at Gosaidanga in Shailkupa upazila under Jhenaidah district and at Rashidpur in Mithapukur upazila under Rangpur district. Two treatments, i.e. T1 = Hand transplanting (HT) and T2 = Mechanical transplanting (MT) were used in the experiment. The experiment was carried out in randomized complete block design (RCBD) and replicated in six plots in each location. Rice variety BRRI dhan28 was used to conduct the experiment in both locations. Fuel consumption of 4-row walking type mechanical transplanter obtained 5.25 L/ha. The field capacity and field efficiency of rice transplanter   obtained 0.11-0.12 ha/hr and 64-70 percent, respectively. Conventional seedbed preparation required 37-55 man-hr/ha whereas 71-77 man-hr/ha required in mat type seedling suitable for mechanical transplanting. Labor requirement in hand and mechanical transplanting ranged from 123-150 and 9.0-10.5 man-hr per hectare which was 19-22 and 1.65-2.00 percent of total labor requirement in rice cultivation, respectively. Number of seedling tray requirement ranged from 215-230 per hectare. Calibration should be done on space and seedling density setting before operation in each plot to get optimum plant spacing and seedling tray requirement. Missing hill obtained 1-2 percent in mechanically transplanted plot. Mechanically transplanted plot showed significantly the higher grain yield (9-14%) than hand transplanted method due to use of infant seedling. The input cost in the form of labor and material was found similar in hand transplanting whereas in mechanical transplanting, labor cost found 12 percent lower than material cost. The cost of growing mat type seedling for mechanical transplanter found 53 percent whereas the cost of raising traditional seedbed found 34 percent of the cost of hand transplanting. Mechanical transplanting reduced 1.8 percent input cost than hand transplanting in crop cultivation. BCR of MT and HT showed 1.18-1.19 and 1.03-1.06, respectively. Mechanical intervention in crop production drastically reduced the labor requirement which can offset the peak labor demand. Mechanical transplanting systems increased yield, improved labor efficiency, ensured timeliness in operation and faster transplanting.Progressive Agriculture 27 (3): 369-382, 2016

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