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Some companies offer employees a choice: work formally for a given wage or informally for a slightly higher one.
Moderate inflation rates can restore wage flexibility by eroding the real purchasing power of a given wage rate.
My willingness to pay a given wage to a given person is influenced both by the relative scarcity of trained woodworkers with the skills I need and by the cost of living in my location, suburban Philadelphia.
Indeed, given wage stagnation and the strong dollar, inflation is well below the Fed's own 2% target, not to mention the 4% rate for which many economists (including the IMF's former chief economist), have argued.
Optimal legal retirement ages of young and old individuals are identical for any given wage class.
The farmer's outside alternative is to provide his effort at the given wage rate w>0 per unit effort supplied.
Similar(48)
No explanation was given; wages were relatively stable, as was the price of steel.
From (1), given wages, total and marginal costs at each plant are (TC_i =w_i q_i^2 ) and (MC_i =2w_i q_i), respectively.
If immigrants have a lower reservation wage than natives, then labour supply will be higher, given wages, when the share of immigrants is higher.
While employment protection decreases the risk of unemployment for those employed, it also decreases the ability of firms to adjust employment, thereby increasing their costs, even given wages.
Given wages for natives are generally lower on average than for immigrants, column one shows the total log-pay differentials over the full period are negative.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com