This paper investigates the existence of markups and their cyclical behaviour at industry sector level. Markups are given as a price-cost relation that is estimated from a dynamic, structural model of the firm. The firms face costly adjustment of labour and potential financial constraints. The model is tested on a panel of firmand plant-level data from Norwegian manufacturing industries. The re...

Wages and Productivity Growth in a Dynamic Monopoly* This Paper studies the intertemporal problem of a monopolistic firm that engages in productivity-enhancing innovations to reduce its labour costs. If the level of wages is sufficiently low, the firm’s rate of productivity growth approaches the rate of wage growth and eventually the firm reaches a steady state where its unit labour cost remain...

Holdup in Oligopsonistic Labour Markets: A New Role for the Minimum Wage We consider a labour market model of oligopsonistic wage competition and show that there is a holdup problem although workers do not have any bargaining power. When a firm invests more, it pays a higher wage in order to attract workers from competitors. Because workers participate in the returns on investment while only fi...

Income inequality in the United States of America has increased over the past few decades. Along with this development, employee compensation as a share of national income has tended to decline, the profi t share of national income has grown, and inequality within labour has risen. There is no empirical support for the argument that greater inequality has resulted in faster productivity growth,...

The silk industry of nineteenth-century Britain failed to conform to the pattern of child employment in other branches of textiles, for child labour remained unregulated in the dynamic years of the industrial revolution, allowing the continued employment of comparatively large numbers of children. Two main arguments were persistently advanced by silk manufacturers for special treatment. First, ...

This paper investigates the structure of firms’ outward FDI and their behaviour at home in both manufacturing and business services sectors. UK multinationals with overseas affiliates in low-wage economies invest simultaneously in a large number of high-wage countries. I find that more productive multinationals operate in a greater number of countries, consistent with their being able to bear t...

Farmers need up to date information on efficient use and management of labour for agricultural production. Yet, they lack adequate and needed information. Hence, this study was undertaken to explore the sources and use of labour information by farmers in southwestern Nigeria. Multi-stage sampling procedure was used to select respondents for the study. Primary data were collected to elicit infor...

BACKGROUND There has been a widely documented and recognized increase in diabetes prevalence, not only in high-income countries (HICs) but also in low- and middle-income countries (LMICs), over recent decades. The economic burden associated with diabetes, especially in LMICs, is less clear. OBJECTIVE We provide a systematic review of the global evidence on the costs of type 2 diabetes. Our re...

Informal employment is a pervasive and persistent feature of most developing and developed economies. Labour taxation and labour market regulations are deemed two major causes for operating in the informal sector. Using data from France, Italy, and Spain, we analyse gross job flows and gross worker flows in the formal and informal sectors in the presence of lenient employment protection legisla...

Labour migration is a pervasive feature of economic development. People mobility for temporary or permanent labour purposes is a routine part of agricultural activity. There are very significant migration flows in some developing areas, with considerable impacts on individuals, households and regions at origin. Despite the growing debate about motivations and impacts of recent migration flows, ...