| Autor: |
Cipriani, C. J., Douty, H. M., Gallaway, L. E., Gilbert, R. F., Smith, P. E., Greenberg, E., Kasper, H., Newman, D. K., Wykstra, R. A. |
| Předmět: |
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| Zdroj: |
Journal of Economic Abstracts; Dec67, Vol. 5 Issue 4, p907-914, 8p |
| Abstrakt: |
This article presents abstracts of research articles on labor economics. According to the article "Hedging in the Labor Market," the acquisition of a skill by a worker is viewed as an investment which is made in a world of uncertainty as there is a risk that the skill may be rendered obsolete by changes in technology or tastes. The question is raised whether a worker can profitably hedge against such risk through the acquisition of a second skill or other form of human capital which is maintained in reserve. According to the article "Living Costs, Wages, and Wage Policy," national wage policy in the U.S. is one element in a strategy for price stability under conditions of high employment. The basic guidepost for wage adjustment is the trend of output per man-hour in the private economy. If wage adjustments on the average, conform to this criterion, labor costs wall remain stable, money and real wage increases will coincide, and income shares will remain unchanged. Price level stability is not only an object of wage policy, but also a condition for its effective implementation. |
| Databáze: |
Complementary Index |
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