• We examine the link between labour market developments and new technologies such as artificial intelligence (AI) and software in 16 European countries over the period 2011-2019. (europa.eu)
  • Las entrevistas tuvieron lugar en los hogares de enero a junio de 2019. (bvsalud.org)
  • Implicit contracts theory was first developed to explain why there are quantity adjustments (layoffs) instead of price adjustments (falling wages) in the labor market during recessions. (wikipedia.org)
  • The origins of implicit-contract theory lie in the belief that observed movements in wages and employment cannot be adequately explained by a competitive spot labour-market in which wages are always equal to the marginal product of labour and the labour market is always in equilibrium. (wikipedia.org)
  • Hence, when firms reduce labor demand during a recession, we should expect to see a fall in wages as well. (wikipedia.org)
  • The topics covered include the stepping-stone or dead-end nature of temporary contracts, their effects on employment, unemployment, churn, training, productivity growth, wages, and labour market inflows and outflows. (repec.org)
  • The results show a labor market in which women were integrated into manual labor and could earn wages equal to men's, and women and men probably worked only as much as they needed to in order to meet their annual needs. (lu.se)
  • In economics, implicit contracts refer to voluntary and self-enforcing long term agreements made between two parties regarding the future exchange of goods or services. (wikipedia.org)
  • Despite the popularity of implicit contract theory in the 1980s, applications of the implicit contracts theory in labor economics has been in decline since the 1990s. (wikipedia.org)
  • Dual Labour Markets Revisited ," IZA Discussion Papers 12126, Institute of Labor Economics (IZA). (repec.org)
  • Job Protection Legislation and Productivity Growth in OECD Countries ," IZA Discussion Papers 3555, Institute of Labor Economics (IZA). (repec.org)
  • The impact of employment protection on temporary employment: Evidence from a regression discontinuity design ," Labour Economics , Elsevier, vol. 46(C), pages 64-76. (repec.org)
  • Two-Tier Labor Markets in the Great Recession: France vs. Spain ," IZA Discussion Papers 5340, Institute of Labor Economics (IZA). (repec.org)
  • While weaker than job creation, substitution effects - some jobs that are otherwise viable under regular contracts are advertised as ZHCs - are sizable and likely explain negative reactions against ZHCs. (cepr.org)
  • Our model also assesses increased labor-force participation from ZHCs which appeal to individuals who prefer flexible work schedules. (cepr.org)
  • This paper studies the prevalence and nature of zero-hours contracts (ZHCs) in the UK labour market. (iza.org)
  • The most common prior labour market state for ZHC workers is non-ZHC employment, particularly part-time employment, and we cannot reject that part of the reported growth in ZHCs has been driven by reclassification of existing employment relationships. (iza.org)
  • The earliest studies to employ implicit contracts models in capital markets see the existence of credit rationing as part of an equilibrium risk-sharing arrangement between a bank and its customer: the bank is risk neutral, and the borrower is risk averse, hence they gain from a long term relationship via shifting the interest rate risk from the borrower to the bank. (wikipedia.org)
  • Developing adequate (re-)training opportunities and providing a labour market, regulatory, and innovation environment which encourages the creation of "good jobs" is essential to improve productivity and equity while avoiding a polarisation of labour markets. (europa.eu)
  • A long literature has sought out systematic sources, such as inherent productivity advantages, market access, agglomeration forces, or sorting. (iwh-halle.de)
  • Defenders of this form of contract argue it is useful for employers facing uneven demand for labour, but that would suggest such companies would employ a small proportion of staff on these contracts. (global-labour-university.org)
  • These gaps bring profound implications to questions about strengthening the linkage or transitioning from higher education to the labour market. (ed.gov)
  • This paper draws on economic research to identify some of its key implications for labour markets, inequality, e-commerce and the financial system. (europa.eu)
  • We propose a model to evaluate the U.K.'s zero-hours contract (ZHC) - a contract that exempts employers from the requirement to provide any minimum working hours, and allows employees to decline any workload. (cepr.org)
  • Under these contracts employers only need to pay for work when they need it. (global-labour-university.org)
  • This is seen by employers and ministers as part of the 'necessary' flexible labour market. (global-labour-university.org)
  • These contracts were justified on the grounds that they were useful for employers trying to cope with short-term labour shortages caused by peaks in demand and offered flexibility for some groups of workers who were unable or unwilling to commit to full-time employment. (global-labour-university.org)
  • Some employers see this form of contract as an ideal way in which to avoid paying holiday, sick or redundancy pay. (global-labour-university.org)
  • A holistic approach from student admission to entry in the labour market is adopted to analyse student learning, teaching, curriculum planning, and structural and enterprise demands to estimate the extent to which these graduates fit the requirement of employers. (ed.gov)
  • Two-Tier Labor Markets in the Great Recession: France Vs. Spain ," Working Papers wp2010_1009, CEMFI. (repec.org)
  • Two-Tier Labor Markets in the Great Recession: France vs. Spain ," CEPR Discussion Papers 8152, C.E.P.R. Discussion Papers. (repec.org)
  • Two-Tier Labor Markets in the Great Recession: France vs. Spain ," CESifo Working Paper Series 3269, CESifo. (repec.org)
  • Until recently, it was believed these types of contracts covered only a small proportion of the labour force. (global-labour-university.org)
  • The headline count of ZHC workers based on the Labour Force Survey has long underestimated and continues to underestimate the number of workers in ZHC or ZHC-like jobs. (iza.org)
  • Second, trade unions remain weak and cannot act as a countervailing force in the labour market. (springer.com)
  • It means that 60% of young people in the labour force are unemployed. (iemed.org)
  • In the context of the labor market, an implicit contract is an employment agreement between an employer and an employee that specifies how much labor is supplied by the worker and how much wage is paid by the employer under different circumstances in the future. (wikipedia.org)
  • Capital market shares some of the "imperfections" of the labor market discussed above: long term relationships between banks and borrowers act like the long term employment relationship between an employer and their workers. (wikipedia.org)
  • Also, a typical loan contract is just like an employment contract illustrated in the model above: the loan repayment is fixed in all states of nature as long as the borrower is solvent. (wikipedia.org)
  • Theoretical and empirical contributions on the labour-market effects of dual employment protection legislation are revisited, as well as factors behind its resilience and policies geared towards correcting its negative economic and social consequences. (repec.org)
  • Read need-to-know updates, commentary, and analysis on Labor & Employment issues written by leading professionals. (jdsupra.com)
  • Country heterogeneity for this result seems to be linked to the pace of technology diffusion and education, but also to the level of product market regulation (competition) and employment protection laws. (europa.eu)
  • This greater employment stability was not traded off against lower working hours or labor income. (iwh-halle.de)
  • The theory has been replaced by search and matching theory to explain labor market imperfections. (wikipedia.org)
  • Hence naturally, economists tried to extend and apply the implicit contract theory to explain these phenomena in the capital market. (wikipedia.org)
  • Then wage is determined in the market to ensure total labor supply equals total labor demand. (wikipedia.org)
  • If workers supply more labor than firms demand, then the wage level should fall so that workers will work fewer hours and firms would demand more labor. (wikipedia.org)
  • Under the implicit contract, a worker is able to reduce the fluctuation in their labor income and the employer is able to increase their average profit. (wikipedia.org)
  • Therefore, the implicit contract between a worker and an employer is like insurance used to hedge the risk in the spot labor market. (wikipedia.org)
  • According to the U.S. Bureau of Labor Statistics , the average American fast food worker makes about $9 an hour. (politifact.com)
  • Zero-hours contracts are those in which a worker agrees to be available for work with a particular employer but without any guaranteed hours or times of work and therefore usually no guaranteed pay either. (global-labour-university.org)
  • Zero-hours contracts are the ultimate form of labour market flexibility - a form of modern day feudalism, in which the worker is tied to the employer without guarantees of work or pay. (global-labour-university.org)
  • The same practices, however, when integrated into the existing system of state capitalism, become what Mike Parker and Jane Slaughter [ Working Smart: A Union Guide to Participation Programs and Reengineering (Detroit: Labor Notes, 1994)] call "management-by-stress. (blogspot.com)
  • This assault continued under the Blair and Brown 'new Labour' governments (Blair boasted that the UK had the least regulated labour market of any major industrialised country). (global-labour-university.org)
  • RÉSUMÉ Les transitions démographiques dans les pays arabes, en raison de la baisse des taux de natalité et de mortalité depuis les années 1980, se traduisent par une proportion plus faible d'enfants, une proportion relativement stable de la population âgée et une proportion élevée de personnes en âge de travailler. (who.int)
  • This paper provides an overview of recent research on dual labour markets. (repec.org)
  • Research findings indicate multiple gaps in skill formation, intended labour needs, and career ladders. (ed.gov)
  • Dolado, J, E Lalé and H Turon (2021), 'DP16843 Zero-hours Contracts in a Frictional Labor Market', CEPR Discussion Paper No. 16843. (cepr.org)
  • This summer in the United Kingdom (UK), 'zero-hours contracts' grabbed the headlines and dominated discussion about changes to working life. (global-labour-university.org)
  • Under zero-hours contracts workers have no guaranteed hours of work or pay, and often have far fewer benefits than other workers. (global-labour-university.org)
  • Those with employee status have rights which workers (such as those on zero-hours contracts) do not - the right not to be unfairly dismissed, maternity rights, among others. (global-labour-university.org)
  • Thatcher began the process of weakening the position of workers, through legislative change to the labour markets and through laws which made it more difficult for unions to engage in legal strikes. (global-labour-university.org)
  • The FTC and the U.S. Department of Labor (DOL) signed an agreement to increase inter-agency cooperation in combatting anticompetitive behavior and unfair and deceptive acts and practices that harm workers. (jdsupra.com)
  • Distribution of responsibility for social security and labour market policy. (uni-mannheim.de)
  • If loans are negotiated in the spot market, then the borrower would be exposed to fluctuations in the spot market interest rates on her loan. (wikipedia.org)
  • Instead, if the borrower engages in an implicit contract with a bank, the bank can shield the borrower from fluctuations in the spot market by offering her a constant rate on the loan and in return for a higher average interest rate in the long run. (wikipedia.org)
  • One partial answer is that Peters greatly exaggerated the competitive disadvantages of inefficiency in a cartelized, state capitalist market, and underestimated the inertia of the existing system. (blogspot.com)
  • This dissertation takes advantage of new data from women and men, working in both the countryside and in towns, as well as employed both by the day and on long-term contracts, in order to make an in-depth quantitative look at the relationships between different kinds of work and how they were compensated within an extended labor market. (lu.se)
  • Young people entering the labour market today do not have to mortgage the future benefits of their work to support either numerous children (as happened in the recent past) or the elderly (as will occur in the near future). (who.int)
  • The firm also takes the wage as given and decides how much labor to buy. (wikipedia.org)
  • As President Barack Obama spent the Labor Day weekend stumping for a hike in the minimum wage to $10.10 an hour, a Facebook message was making the rounds that made that goal look like chump change. (politifact.com)
  • Economically, people entering the labour market to- The population of the Arab countries youth are in transition from economic day do not have to mortgage the future has increased between 1980 and 2010, dependency to economic productiv- benefits of their work to support either rising from 170 million (3.8% of the ity. (who.int)
  • Dual Labour Markets Revisited ," CESifo Working Paper Series 7479, CESifo. (repec.org)
  • Dual Labour Markets Revisited ," Working Papers wp2019_1902, CEMFI. (repec.org)
  • Dual Labour Markets Revisited ," CEPR Discussion Papers 13475, C.E.P.R. Discussion Papers. (repec.org)
  • Together, these papers explore and quantify a complex and changing labor market, while still keeping the earners and those who depend on these earnings in sight. (lu.se)
  • Footnote 2 First, market concentration is high, large business groups are powerful and production policies have changed slowly. (springer.com)
  • Like layoffs in the labor market, there is credit rationing in the financial market. (wikipedia.org)
  • The interpersonal negotiation and agreement in implicit contracts contrasts with the impersonal and nonnegotiable decision making in a decentralized competitive markets. (wikipedia.org)
  • We found the union contract so that part is simple. (politifact.com)
  • Esbjerg said the median earnings are not publicly available, but he sent us a copy of the latest McDonald's union contract . (politifact.com)
  • In an effort to explain the layoff puzzle, models with implicit contracts were independently developed by Martin Baily, Donald Gordon, and Costas Azariadis in 1974 and 1975. (wikipedia.org)