Please use this identifier to cite or link to this item: http://hdl.handle.net/1893/327
Appears in Collections:Economics Journal Articles
Peer Review Status: Refereed
Title: Wages, work intensity and unemployment in Japan, UK and USA
Authors: Darby, Julia
Hart, Robert A
Vecchi, Michela
Contact Email: r.a.hart@stir.ac.uk
Keywords: Unemployment
Labour Hoarding
Wage Determination
Issue Date: May-2001
Publisher: Elsevier
Citation: Darby J, Hart RA & Vecchi M (2001) Wages, work intensity and unemployment in Japan, UK and USA, Labour Economics, 8 (2), pp. 243-258.
Abstract: This paper looks at wage inflation in the UK, the US and Japan. We focus in particular on the impact of excess labour supply. Rather than measuring excess supply of labour purely in terms of registered unemployment, we extend the usual analysis to look at the impact of excess supply of workers within the firm. As is well known, firms may 'hoard', or under utilise, labour which effectively means that, internally, more hours are supplied than demanded at given wages. Our key conclusion is that results based on recorded unemployment rates alone seriously underestimate the flexibility of real wages.
Type: Journal Article
URI: http://hdl.handle.net/1893/327
URL: http://www.sciencedirect.com/science/journal/09275371
DOI Link: http://dx.doi.org/10.1016/S0927-5371(01)00028-8
Rights: Published in Labour Economics by Elsevier.
Affiliation: University of Glasgow
Economics
National Institute of Economic and Social Research (NIESR)

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