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Labor Market Institutions, Wages, and Investment

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dc.creator Pischke, Jörn-Steffen
dc.date 2004
dc.date.accessioned 2013-10-16T07:10:58Z
dc.date.available 2013-10-16T07:10:58Z
dc.date.issued 2013-10-16
dc.identifier http://hdl.handle.net/10419/20534
dc.identifier ppn:396321623
dc.identifier.uri http://koha.mediu.edu.my:8181/xmlui/handle/10419/20534
dc.description Labor market institutions, via their effect on the wage structure, affect the investment decisions of firms in labor markets with frictions. This observation helps explain rising wage inequality in the US, but a relatively stable wage structure in Europe in the 1980s. These different trends are the result of different investment decisions by firms for the jobs typically held by less skilled workers. Firms in Europe have more incentives to invest in less skilled workers, because minimum wages or union contracts mandate that relatively high wages have to be paid to these workers. I report some empirical evidence for investments in training and physical capital across the Atlantic, which is roughly in line with this theoretical reasoning.
dc.language eng
dc.relation IZA Discussion paper series 1268
dc.rights http://www.econstor.eu/dspace/Nutzungsbedingungen
dc.subject J24
dc.subject J23
dc.subject E24
dc.subject J31
dc.subject E22
dc.subject ddc:330
dc.subject frictional labor markets
dc.subject human capital
dc.subject changes in wage inequality
dc.subject Arbeitsmarktpolitik
dc.subject Lohnstruktur
dc.subject Betriebliche Investitionspolitik
dc.subject Beschäftigung
dc.subject Arbeitsmarkt
dc.subject Unvollkommener Markt
dc.subject Theorie
dc.subject OECD-Staaten
dc.title Labor Market Institutions, Wages, and Investment
dc.type doc-type:workingPaper

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