Structural Aspects of the Labour Markets of Five OECD Countries

Geert Ridder, Niels Visser and Gerard Berg

Chapter 8 in Market Behaviour and Macroeconomic Modelling, 1998, pp 201-218 from Palgrave Macmillan

Abstract: Abstract In the past decades, labour economists have accumulated evidence that is at odds with the hypothesis that the labour market is a standard competitive market. Wage regressions show that employer size, that is the number of employees of the firm or establishment, has a positive effect on the wage (Brown and Medoff, 1989), and that there are persistent differences between the wages in different industries (Krueger and Summers, 1988). These effects remain, if an extensive list of controls for productive differences between workers is included in the regression. Moreover, these results have been replicated for many countries.

Keywords: Labour Market; Minimum Wage; Reservation Wage; Unemployment Spell; Earning Distribution (search for similar items in EconPapers)
Date: 1998
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-26732-3_8

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DOI: 10.1007/978-1-349-26732-3_8

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