A. B. Atkinson
- Published in print:
- 2008
- Published Online:
- September 2008
- ISBN:
- 9780199532438
- eISBN:
- 9780191714559
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199532438.003.0010
- Subject:
- Economics and Finance, Development, Growth, and Environmental, International
This chapter considers the explanation of top earnings that has received much recent attention: the superstar theory. Here, trade and technology have a clear role in expanding the reach of the most ...
More
This chapter considers the explanation of top earnings that has received much recent attention: the superstar theory. Here, trade and technology have a clear role in expanding the reach of the most talented, and make the earnings gradient steeper. It argues that the superstar explanation should be complemented by a model of salaries in hierarchical organizations. Such a theory, where earnings depend on position in a pyramidal organization, cannot be enough on its own either.Less
This chapter considers the explanation of top earnings that has received much recent attention: the superstar theory. Here, trade and technology have a clear role in expanding the reach of the most talented, and make the earnings gradient steeper. It argues that the superstar explanation should be complemented by a model of salaries in hierarchical organizations. Such a theory, where earnings depend on position in a pyramidal organization, cannot be enough on its own either.
A. B. Atkinson
- Published in print:
- 2008
- Published Online:
- September 2008
- ISBN:
- 9780199532438
- eISBN:
- 9780191714559
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199532438.003.0011
- Subject:
- Economics and Finance, Development, Growth, and Environmental, International
This chapter reviews the discussions in the preceding chapters. It argues that the distribution of earnings is not outside our control. Although governments are constrained by the global economy and ...
More
This chapter reviews the discussions in the preceding chapters. It argues that the distribution of earnings is not outside our control. Although governments are constrained by the global economy and by the pace of technological change, policy still has a role. The evolution of pay norms is partly endogenous, and state enterprises can influence the resulting market equilibrium. Conversely, the privatization of state enterprises can affect pay at both the top and the bottom of the distribution.Less
This chapter reviews the discussions in the preceding chapters. It argues that the distribution of earnings is not outside our control. Although governments are constrained by the global economy and by the pace of technological change, policy still has a role. The evolution of pay norms is partly endogenous, and state enterprises can influence the resulting market equilibrium. Conversely, the privatization of state enterprises can affect pay at both the top and the bottom of the distribution.
A. B. Atkinson
- Published in print:
- 2008
- Published Online:
- September 2008
- ISBN:
- 9780199532438
- eISBN:
- 9780191714559
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199532438.003.0002
- Subject:
- Economics and Finance, Development, Growth, and Environmental, International
This introductory chapter begins with a brief discussion of the overall theme of this book, which is the distribution of individual earnings or household income. Specifically, the book examines ...
More
This introductory chapter begins with a brief discussion of the overall theme of this book, which is the distribution of individual earnings or household income. Specifically, the book examines changes in earnings differences or dispersion over time. The interest in this topic is largely attributed to rise in earnings dispersion in the US since the 1980s.Less
This introductory chapter begins with a brief discussion of the overall theme of this book, which is the distribution of individual earnings or household income. Specifically, the book examines changes in earnings differences or dispersion over time. The interest in this topic is largely attributed to rise in earnings dispersion in the US since the 1980s.
A. B. Atkinson
- Published in print:
- 2008
- Published Online:
- September 2008
- ISBN:
- 9780199532438
- eISBN:
- 9780191714559
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199532438.003.0008
- Subject:
- Economics and Finance, Development, Growth, and Environmental, International
This chapter considers two theories to explain the earnings dispersion in the different countries studied: shifting pay norms and pyramidal/superstar theories. It argues that the fanning out of the ...
More
This chapter considers two theories to explain the earnings dispersion in the different countries studied: shifting pay norms and pyramidal/superstar theories. It argues that the fanning out of the upper part of the earnings distribution in some, but not all, countries could be explained by a shift to a less redistributive pay norm. However, this argument has hardly been recognized in the literature. The superstar model has received more attention, but this attention has concentrated exclusively on the recent rise in top earnings.Less
This chapter considers two theories to explain the earnings dispersion in the different countries studied: shifting pay norms and pyramidal/superstar theories. It argues that the fanning out of the upper part of the earnings distribution in some, but not all, countries could be explained by a shift to a less redistributive pay norm. However, this argument has hardly been recognized in the literature. The superstar model has received more attention, but this attention has concentrated exclusively on the recent rise in top earnings.
A. B. Atkinson
- Published in print:
- 2008
- Published Online:
- September 2008
- ISBN:
- 9780199532438
- eISBN:
- 9780191714559
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199532438.003.0009
- Subject:
- Economics and Finance, Development, Growth, and Environmental, International
This chapter considers a behavioural model of changes in differentials, directed particularly at explaining the fanning out of the upper part of the earnings distribution. It suggests that changes ...
More
This chapter considers a behavioural model of changes in differentials, directed particularly at explaining the fanning out of the upper part of the earnings distribution. It suggests that changes may be observed in the extent to which earnings are governed by pay norms — changes corresponding to a switch from a redistributive norm to one where people are paid on their individual productivity, or vice versa. An external shock causes an abrupt reversal of direction and convergence to a new equilibrium. This could be caused by a change in the political climate, shifting the degree of conformity with the social norm, which is then magnified as more people change their behaviour. It could be caused by a change in the capital market, as where firms become more short term in their outlook, and less willing to invest in establishing a reputation.Less
This chapter considers a behavioural model of changes in differentials, directed particularly at explaining the fanning out of the upper part of the earnings distribution. It suggests that changes may be observed in the extent to which earnings are governed by pay norms — changes corresponding to a switch from a redistributive norm to one where people are paid on their individual productivity, or vice versa. An external shock causes an abrupt reversal of direction and convergence to a new equilibrium. This could be caused by a change in the political climate, shifting the degree of conformity with the social norm, which is then magnified as more people change their behaviour. It could be caused by a change in the capital market, as where firms become more short term in their outlook, and less willing to invest in establishing a reputation.
A. B. Atkinson
- Published in print:
- 2008
- Published Online:
- September 2008
- ISBN:
- 9780199532438
- eISBN:
- 9780191714559
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199532438.003.0014
- Subject:
- Economics and Finance, Development, Growth, and Environmental, International
This note describes the model of top earnings presented in Chapter 9. The model is a combination of superstar and hierarchical explanations. In the case of the superstar theory, there is no direct ...
More
This note describes the model of top earnings presented in Chapter 9. The model is a combination of superstar and hierarchical explanations. In the case of the superstar theory, there is no direct link to a functional form for the resulting distribution. At the same time, the ‘winner take all’ nature of the model suggests that it can be regarded as an extreme value process. The distribution of earnings in this case is given by the maximum values generated by the results of many separate ‘competitions’. If attention is limited to those values exceeding some specified threshold, then for a sufficiently high threshold the distribution function takes on the generalized Pareto form which has a Pareto upper tail.Less
This note describes the model of top earnings presented in Chapter 9. The model is a combination of superstar and hierarchical explanations. In the case of the superstar theory, there is no direct link to a functional form for the resulting distribution. At the same time, the ‘winner take all’ nature of the model suggests that it can be regarded as an extreme value process. The distribution of earnings in this case is given by the maximum values generated by the results of many separate ‘competitions’. If attention is limited to those values exceeding some specified threshold, then for a sufficiently high threshold the distribution function takes on the generalized Pareto form which has a Pareto upper tail.
John P. Burkett
- Published in print:
- 2006
- Published Online:
- October 2011
- ISBN:
- 9780195189629
- eISBN:
- 9780199850778
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195189629.003.0016
- Subject:
- Economics and Finance, Microeconomics
This chapter examines issues related to the economics of time. It explains that in addition to its application in the calculation of interest rate or the price for the use of money for a period of ...
More
This chapter examines issues related to the economics of time. It explains that in addition to its application in the calculation of interest rate or the price for the use of money for a period of time, the economics of time can also be applied to decisions about when to make the transition from school to work. Empirical evidence from the US indicates that each additional year of schooling raises earnings by about 10%. This chapter also provides several relevant computational exercises and solutions.Less
This chapter examines issues related to the economics of time. It explains that in addition to its application in the calculation of interest rate or the price for the use of money for a period of time, the economics of time can also be applied to decisions about when to make the transition from school to work. Empirical evidence from the US indicates that each additional year of schooling raises earnings by about 10%. This chapter also provides several relevant computational exercises and solutions.
Alfred Maizels, Robert Bacon, and George Mavrotas
- Published in print:
- 1997
- Published Online:
- October 2011
- ISBN:
- 9780198233381
- eISBN:
- 9780191678981
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198233381.003.0001
- Subject:
- Economics and Finance, Development, Growth, and Environmental
Initially, the international commodity markets experienced high short-term price instability. Although there still were important commodities that showed short-term instability, real commodity prices ...
More
Initially, the international commodity markets experienced high short-term price instability. Although there still were important commodities that showed short-term instability, real commodity prices underwent a downward trend that began in 1980. This change had a number of negative effects particularly in terms of the export earnings, foreign debt size, and the ability to obtain substantial progress of developing countries. To evolve a set of measures for raising depressed commodity prices and commodity export earning levels, negations between developing and developed countries had to be prioritized. This chapter highlights the fact that these measures are crucial in formulating an international strategy for improving and hastening the development process particularly for low income countries and those dependent on commodities.Less
Initially, the international commodity markets experienced high short-term price instability. Although there still were important commodities that showed short-term instability, real commodity prices underwent a downward trend that began in 1980. This change had a number of negative effects particularly in terms of the export earnings, foreign debt size, and the ability to obtain substantial progress of developing countries. To evolve a set of measures for raising depressed commodity prices and commodity export earning levels, negations between developing and developed countries had to be prioritized. This chapter highlights the fact that these measures are crucial in formulating an international strategy for improving and hastening the development process particularly for low income countries and those dependent on commodities.
Lane Kenworthy
- Published in print:
- 2008
- Published Online:
- September 2008
- ISBN:
- 9780199550593
- eISBN:
- 9780191720727
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199550593.003.0007
- Subject:
- Political Science, Comparative Politics, Political Economy
This chapter begins by examining the relationship between government benefits and inequality and between benefits and employment. It uses a new approach to measuring comparative benefit generosity, ...
More
This chapter begins by examining the relationship between government benefits and inequality and between benefits and employment. It uses a new approach to measuring comparative benefit generosity, the outlines a policy package that can potentially provide generous benefits to working-age individuals and households who need them without creating excessive employment disincentives. The package features generous transfers to those unable to work due to involuntary job loss, sickness, disability, or family responsibilities. However, benefits provided on a temporary basis should be of relatively short duration, and eligibility criteria for those provided on a permanent basis should be fairly strict. In exchange for this strictness, extensive support should be provided for those entering or returning to the work force, in the form of training, job placement, public employment, and childcare. A key component of the benefit package is an employment-conditional earnings subsidy.Less
This chapter begins by examining the relationship between government benefits and inequality and between benefits and employment. It uses a new approach to measuring comparative benefit generosity, the outlines a policy package that can potentially provide generous benefits to working-age individuals and households who need them without creating excessive employment disincentives. The package features generous transfers to those unable to work due to involuntary job loss, sickness, disability, or family responsibilities. However, benefits provided on a temporary basis should be of relatively short duration, and eligibility criteria for those provided on a permanent basis should be fairly strict. In exchange for this strictness, extensive support should be provided for those entering or returning to the work force, in the form of training, job placement, public employment, and childcare. A key component of the benefit package is an employment-conditional earnings subsidy.
Lane Kenworthy
- Published in print:
- 2008
- Published Online:
- September 2008
- ISBN:
- 9780199550593
- eISBN:
- 9780191720727
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199550593.003.0009
- Subject:
- Political Science, Comparative Politics, Political Economy
Educational attainment is a good predictor of individuals' employment and earnings. In the standard view, this is because education is a useful measure of skills, which in turn are a key determinant ...
More
Educational attainment is a good predictor of individuals' employment and earnings. In the standard view, this is because education is a useful measure of skills, which in turn are a key determinant of a person's productivity. In theory, equalizing skills could therefore lead to both high employment and a relatively equal distribution of earnings. This chapter assesses this supposition, drawing on both individual- and country-level data.Less
Educational attainment is a good predictor of individuals' employment and earnings. In the standard view, this is because education is a useful measure of skills, which in turn are a key determinant of a person's productivity. In theory, equalizing skills could therefore lead to both high employment and a relatively equal distribution of earnings. This chapter assesses this supposition, drawing on both individual- and country-level data.
John Hatcher
- Published in print:
- 1993
- Published Online:
- October 2011
- ISBN:
- 9780198282822
- eISBN:
- 9780191684418
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198282822.001.0001
- Subject:
- History, British and Irish Early Modern History, Economic History
Well before 1700, Britain had become heavily dependent upon coal for its fuel, and coalmining had taken its place among the nation's staple industries. This book traces the production and trade of ...
More
Well before 1700, Britain had become heavily dependent upon coal for its fuel, and coalmining had taken its place among the nation's staple industries. This book traces the production and trade of coal from the intermittent small-scale activity which prevailed in the Middle Ages to the rapid expansion and rising importance which characterized the early modern era. Thoroughly grounded in a formidable range of sources, the book explores the economics and management of mining, the productivity and profitability of colliery enterprise, and the progress of technology. The book examines the owners and operators of collieries and the sources of mining capital, as well as the colliers themselves, their working conditions and earnings. It argues that the spectacular growth of coal output in this period was achieved more through evolutionary than revolutionary processes.Less
Well before 1700, Britain had become heavily dependent upon coal for its fuel, and coalmining had taken its place among the nation's staple industries. This book traces the production and trade of coal from the intermittent small-scale activity which prevailed in the Middle Ages to the rapid expansion and rising importance which characterized the early modern era. Thoroughly grounded in a formidable range of sources, the book explores the economics and management of mining, the productivity and profitability of colliery enterprise, and the progress of technology. The book examines the owners and operators of collieries and the sources of mining capital, as well as the colliers themselves, their working conditions and earnings. It argues that the spectacular growth of coal output in this period was achieved more through evolutionary than revolutionary processes.
Gary S. Fields
- Published in print:
- 2011
- Published Online:
- January 2012
- ISBN:
- 9780199794645
- eISBN:
- 9780199928606
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199794645.003.0011
- Subject:
- Economics and Finance, Macro- and Monetary Economics, Financial Economics
By this point, readers will have learned how the poorer half of the world's people work and what has been done in different countries to help the poor earn their way out of poverty. For readers who ...
More
By this point, readers will have learned how the poorer half of the world's people work and what has been done in different countries to help the poor earn their way out of poverty. For readers who may be asking themselves “What can I do?” this short chapter talks about some of the possibilities ranging from helping spread information and good ideas to making companies more aware of the situations of the workers they employ to working for better public policies to devoting part of one's time or money to help solve the problems of the poor to making the fight against global poverty one's life's work.Less
By this point, readers will have learned how the poorer half of the world's people work and what has been done in different countries to help the poor earn their way out of poverty. For readers who may be asking themselves “What can I do?” this short chapter talks about some of the possibilities ranging from helping spread information and good ideas to making companies more aware of the situations of the workers they employ to working for better public policies to devoting part of one's time or money to help solve the problems of the poor to making the fight against global poverty one's life's work.
Janet C. Gornick
- Published in print:
- 1999
- Published Online:
- November 2003
- ISBN:
- 9780198294160
- eISBN:
- 9780191600142
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0198294166.003.0008
- Subject:
- Political Science, Comparative Politics
The topic of this chapter is women's access to paid work and its impact on their economic resources compared to men in general and within the family. It presents a cross‐national portrait of gender ...
More
The topic of this chapter is women's access to paid work and its impact on their economic resources compared to men in general and within the family. It presents a cross‐national portrait of gender inequality in the labour market in the early 1990s in 15 countries. Initially, the author focuses on labour market attachment (full‐time or part‐time work) and the earnings of working‐age women as a whole; subsequently, the analysis turns to married women and the mothers of young children. The chapter explores the extent to which welfare state regimes are associated with specific labour market outcomes.Less
The topic of this chapter is women's access to paid work and its impact on their economic resources compared to men in general and within the family. It presents a cross‐national portrait of gender inequality in the labour market in the early 1990s in 15 countries. Initially, the author focuses on labour market attachment (full‐time or part‐time work) and the earnings of working‐age women as a whole; subsequently, the analysis turns to married women and the mothers of young children. The chapter explores the extent to which welfare state regimes are associated with specific labour market outcomes.
Henry Phelps Brown
- Published in print:
- 1979
- Published Online:
- November 2003
- ISBN:
- 9780198851202
- eISBN:
- 9780191596780
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0198851200.003.0008
- Subject:
- Economics and Finance, Public and Welfare
So far in the book, only the average pay in each occupation has been addressed, but there is generally a wide dispersion of individual pay about that average. The examination of these differences in ...
More
So far in the book, only the average pay in each occupation has been addressed, but there is generally a wide dispersion of individual pay about that average. The examination of these differences in this chapter throws light on the factors affecting individual pay, in the presence of a given structure of pay by occupation. These factors are also explored by another approach in the next chapter. The different sections of the chapter are: The extent of the variance of earnings within particular occupations; Short‐period fluctuations of earnings; The variation of earnings with age; Differences in individual performance; Differences within local labour markets; and Differences of region and of unionization. The last section reviews and discusses the material presented, drawing out three main points.Less
So far in the book, only the average pay in each occupation has been addressed, but there is generally a wide dispersion of individual pay about that average. The examination of these differences in this chapter throws light on the factors affecting individual pay, in the presence of a given structure of pay by occupation. These factors are also explored by another approach in the next chapter. The different sections of the chapter are: The extent of the variance of earnings within particular occupations; Short‐period fluctuations of earnings; The variation of earnings with age; Differences in individual performance; Differences within local labour markets; and Differences of region and of unionization. The last section reviews and discusses the material presented, drawing out three main points.
Robert Libby and Nicholas Seybert
- Published in print:
- 2009
- Published Online:
- February 2010
- ISBN:
- 9780199546350
- eISBN:
- 9780191720048
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199546350.003.0013
- Subject:
- Business and Management, Organization Studies, Finance, Accounting, and Banking
This chapter reviews recent behavioural studies of the effects of regulation on earnings management and accounting choice. It examines the impact of financial reporting, auditing, and other corporate ...
More
This chapter reviews recent behavioural studies of the effects of regulation on earnings management and accounting choice. It examines the impact of financial reporting, auditing, and other corporate governance regulations on the beliefs and choices of managers, auditors, and corporate directors. Behavioural studies contribute to the broader literature by shedding light on potential unintended consequences and overall efficacy of proposed regulations, revealing the roles of specific actors and the motives behind reporting choices, and demonstrating what determines managers' preferences for different earnings management methods (both real and accruals based). The chapter also discuss areas that have received less attention that provide promising avenues for future behavioural research involving regulation, earnings management, and accounting choice.Less
This chapter reviews recent behavioural studies of the effects of regulation on earnings management and accounting choice. It examines the impact of financial reporting, auditing, and other corporate governance regulations on the beliefs and choices of managers, auditors, and corporate directors. Behavioural studies contribute to the broader literature by shedding light on potential unintended consequences and overall efficacy of proposed regulations, revealing the roles of specific actors and the motives behind reporting choices, and demonstrating what determines managers' preferences for different earnings management methods (both real and accruals based). The chapter also discuss areas that have received less attention that provide promising avenues for future behavioural research involving regulation, earnings management, and accounting choice.
Keith Brainard
- Published in print:
- 2009
- Published Online:
- February 2010
- ISBN:
- 9780199573349
- eISBN:
- 9780191721946
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199573349.003.0012
- Subject:
- Business and Management, Public Management, Pensions and Pension Management
Retiree benefits for US employees of state and local governments have been traditionally paid via defined benefit (DB) plans, but this arrangement has been neither monolithic nor static. This chapter ...
More
Retiree benefits for US employees of state and local governments have been traditionally paid via defined benefit (DB) plans, but this arrangement has been neither monolithic nor static. This chapter provides examples of variants on the traditional DB model and presents recent developments in retirement benefits for public employees, focusing on the incorporation of DC plan elements into or alongside DB plan structures.Less
Retiree benefits for US employees of state and local governments have been traditionally paid via defined benefit (DB) plans, but this arrangement has been neither monolithic nor static. This chapter provides examples of variants on the traditional DB model and presents recent developments in retirement benefits for public employees, focusing on the incorporation of DC plan elements into or alongside DB plan structures.
A.B. Atkinson
- Published in print:
- 2008
- Published Online:
- September 2008
- ISBN:
- 9780199532438
- eISBN:
- 9780191714559
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199532438.001.0001
- Subject:
- Economics and Finance, Development, Growth, and Environmental, International
This book is about how much people earn and why the distribution of earnings has been changing over time. The gap between the top and bottom in the United States has widened significantly since 1980. ...
More
This book is about how much people earn and why the distribution of earnings has been changing over time. The gap between the top and bottom in the United States has widened significantly since 1980. Why has this happened? Is it due to new technologies? What is the role of globalization? Are there historical precedents? The book begins with the ‘race’ between technology and education, and shows that continuing technical progress does not necessarily imply a continuing rise in dispersion. It then examines the experience of twenty OECD countries over the 20th century, material presented in the form of twenty country case studies. The book breaks new ground in assembling data on the distribution of individual earnings covering much of the 20th century and drawing on a variety of under-exploited sources. The findings overturn a number of widely-held beliefs. It is not the earnings of the low paid that have been most affected by the recent changes; widening is largely due to what is happening at the top. The recent rise in earnings dispersion is not unprecedented, but should be seen as part of a longer-run history of successive compression and expansion of earnings differences.Less
This book is about how much people earn and why the distribution of earnings has been changing over time. The gap between the top and bottom in the United States has widened significantly since 1980. Why has this happened? Is it due to new technologies? What is the role of globalization? Are there historical precedents? The book begins with the ‘race’ between technology and education, and shows that continuing technical progress does not necessarily imply a continuing rise in dispersion. It then examines the experience of twenty OECD countries over the 20th century, material presented in the form of twenty country case studies. The book breaks new ground in assembling data on the distribution of individual earnings covering much of the 20th century and drawing on a variety of under-exploited sources. The findings overturn a number of widely-held beliefs. It is not the earnings of the low paid that have been most affected by the recent changes; widening is largely due to what is happening at the top. The recent rise in earnings dispersion is not unprecedented, but should be seen as part of a longer-run history of successive compression and expansion of earnings differences.
Jacob Mincer
- Published in print:
- 2007
- Published Online:
- May 2007
- ISBN:
- 9780199211319
- eISBN:
- 9780191705748
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199211319.003.0003
- Subject:
- Economics and Finance, History of Economic Thought
This chapter analyzes Mincer's contribution to income distribution research, namely the way he placed human capital at the center of that research. It commences with a brief analysis of the debates ...
More
This chapter analyzes Mincer's contribution to income distribution research, namely the way he placed human capital at the center of that research. It commences with a brief analysis of the debates that marked the development of research in personal income distribution during the first half of the 20th century. Mincer's thesis of 1957 is analyzed by showing how his work incorporated a broader debate about the purposes and uses of research in personal income. The chapter proceeds by covering Mincer's subsequent work on human capital and lifetime income and wage patterns, which reached a high point with his 1974 book Schooling, Experience, and Earnings and the formulation of the human capital earnings function, which would become a centerpiece of modern labor research. The chapter also shows the way Mincer's research has significantly influenced the economic analysis of income distribution.Less
This chapter analyzes Mincer's contribution to income distribution research, namely the way he placed human capital at the center of that research. It commences with a brief analysis of the debates that marked the development of research in personal income distribution during the first half of the 20th century. Mincer's thesis of 1957 is analyzed by showing how his work incorporated a broader debate about the purposes and uses of research in personal income. The chapter proceeds by covering Mincer's subsequent work on human capital and lifetime income and wage patterns, which reached a high point with his 1974 book Schooling, Experience, and Earnings and the formulation of the human capital earnings function, which would become a centerpiece of modern labor research. The chapter also shows the way Mincer's research has significantly influenced the economic analysis of income distribution.
Nicholas Crafts
- Published in print:
- 2007
- Published Online:
- May 2007
- ISBN:
- 9780199212668
- eISBN:
- 9780191712807
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199212668.003.0002
- Subject:
- Economics and Finance, Financial Economics
This chapter seeks to answer the question: how much did average British living standards increase during the 20th century? The goal is not to explain the trends but to explore the difficulties of ...
More
This chapter seeks to answer the question: how much did average British living standards increase during the 20th century? The goal is not to explain the trends but to explore the difficulties of measurement. Some attention will be given to dispersion around the average. It is shown that average living standards rose substantially during the 20th century. This rate of advance far outstripped that of any previous period, with real wages growing at over 1% per year during the first half of the century despite the depression and two world wars, and at about 2% per year in the second half.Less
This chapter seeks to answer the question: how much did average British living standards increase during the 20th century? The goal is not to explain the trends but to explore the difficulties of measurement. Some attention will be given to dispersion around the average. It is shown that average living standards rose substantially during the 20th century. This rate of advance far outstripped that of any previous period, with real wages growing at over 1% per year during the first half of the century despite the depression and two world wars, and at about 2% per year in the second half.
Ian Gazeley
- Published in print:
- 2007
- Published Online:
- May 2007
- ISBN:
- 9780199212668
- eISBN:
- 9780191712807
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199212668.003.0004
- Subject:
- Economics and Finance, Financial Economics
This chapter examines changes in the nature of waged work and pay in the first seventy years of the 20th century. At the beginning of the century, the vast majority of adult men and only one in three ...
More
This chapter examines changes in the nature of waged work and pay in the first seventy years of the 20th century. At the beginning of the century, the vast majority of adult men and only one in three adult women worked. By 1970, nearly half of all adult women were in paid employment and the proportion of economically inactive adult men had increased to about one in ten. Female employment remained concentrated in very few industrial sectors during the first half of the century.Less
This chapter examines changes in the nature of waged work and pay in the first seventy years of the 20th century. At the beginning of the century, the vast majority of adult men and only one in three adult women worked. By 1970, nearly half of all adult women were in paid employment and the proportion of economically inactive adult men had increased to about one in ten. Female employment remained concentrated in very few industrial sectors during the first half of the century.
