This file is part of IDEAS, which uses RePEc data


[ Papers | Articles | Software | Books | Chapters | Authors | Institutions | JEL Classification | NEP reports | Search | New papers by email | Author registration | Rankings | Volunteers | FAQ | Blog | Help! ]

Real Wages, Investment and Employment - New Evidence From West German Sectoral Data

Author info | Abstract | Publisher info | Download info | Related research | Statistics
Author Info
Felix Fitzroy
Michael Funke

Additional information is available for the following registered author(s):

Abstract

Non-Separable capital adjustment costs imply that investment directly affects the demand for labour and therefore justify not only the lagged dependent variable but also the presence of investment expenditures or Tobin's valuation ratio Q in labour demand estimation. On this basis we estimate a very parsimonious specification of demand for blue-collar workers in a panel of 32 west German industries, conditional on value added and common macroeffects. We find much larger short-run real wage employment elasticities than previous work, and robustly significant positive effects of investment or Tobin's Q on labour demand.

Download Info
To our knowledge, this item is not available for download. To find whether it is available, there are three options:
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.

Publisher Info
Paper provided by Centre for Research into Industry, Enterprise, Finance and the Firm in its series CRIEFF Discussion Papers with number 9305.

Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Length:
Date of creation: Oct 1993
Date of revision:
Handle: RePEc:san:crieff:9305

Contact details of provider:
Postal: School of Economics and Finance, University of St. Andrews, Fife KY16 9AL
Phone: 01334 462420
Web page: http://www.st-and.ac.uk/%7Ewww_crieff/discpaps.html

For technical questions regarding this item, or to correct its listing, contact: (Tatiana Damjanovic).

Related research
Keywords:

Other versions of this item:

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Dinenis, Elias & Funke, Michael, 1994. "Factor Prices, Employment and Investment in U.K. and West German Manufacturing," The Manchester School of Economic & Social Studies, Blackwell Publishing, vol. 62(4), pages 412-24, December.
  2. FitzRoy, Felix R & Hart, Robert A, 1985. "Hours, Layoffs and Unemployment Insurance Funding: Theory and Practice in an International Perspective," Economic Journal, Royal Economic Society, vol. 95(379), pages 700-713, September. [Downloadable!] (restricted)
  3. Bruce C. Greenwald & Joseph E. Stiglitz, 1988. "Examining Alternative Macroeconomic Theories," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 19(1988-1), pages 207-270. [Downloadable!]
  4. Hansen, Lars Peter, 1982. "Large Sample Properties of Generalized Method of Moments Estimators," Econometrica, Econometric Society, vol. 50(4), pages 1029-54, July. [Downloadable!] (restricted)
  5. Keane, Michael P & Runkle, David E, 1992. "On the Estimation of Panel-Data Models with Serial Correlation When Instruments Are Not Strictly Exogenous," Journal of Business & Economic Statistics, American Statistical Association, vol. 10(1), pages 1-9, January.
  6. Flaig, Gebhard & Steiner, Viktor, 1989. "Stability and Dynamic Properties of Labour Demand in West German Manufacturing," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 51(4), pages 395-412, November.
  7. Konig, Heinz & Pohlmeier, Winfried, 1988. "Employment, Labour Utilization and Procyclical Labour Productivity," Kyklos, Blackwell Publishing, vol. 41(4), pages 551-72.
  8. Treadway, Arthur B., 1970. "Adjustment costs and variable inputs in the theory of the competitive firm," Journal of Economic Theory, Elsevier, vol. 2(4), pages 329-347, December. [Downloadable!] (restricted)
  9. Sargan, J D, 1980. "Some Tests of Dynamic Specification for a Single Equation," Econometrica, Econometric Society, vol. 48(4), pages 879-97, May. [Downloadable!] (restricted)
  10. Nickell, Stephen J, 1981. "Biases in Dynamic Models with Fixed Effects," Econometrica, Econometric Society, vol. 49(6), pages 1417-26, November. [Downloadable!] (restricted)
  11. Hayashi, Fumio & Sims, Christopher A, 1983. "Nearly Efficient Estimation of Time Series Models with Predetermined, but Not Exogenous, Instruments," Econometrica, Econometric Society, vol. 51(3), pages 783-98, May. [Downloadable!] (restricted)
  12. Zimmermann, Klaus F, 1991. "The Employment Consequences of Technological Advance, Demand and Labor Costs in 16 German Industries," Empirical Economics, Springer, vol. 16(2), pages 253-66.
  13. Kraft, Kornelius, 1989. "Expectations and the Adjustment of Hours and Employment," Applied Economics, Taylor and Francis Journals, vol. 21(4), pages 487-95, April.
  14. Robert E. Lucas & Jr., 1967. "Adjustment Costs and the Theory of Supply," Journal of Political Economy, University of Chicago Press, vol. 75, pages 321. [Downloadable!] (restricted)
Full references

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Felix Fitzroy, Michael Funke, 1998. "Skills, Wages and Employment in East and West Germany," Regional Studies, Taylor and Francis Journals, vol. 32(5), pages 459-467, July. [Downloadable!] (restricted)
    Other versions:
  2. Riphahn, Regina T. & Bauer, Thomas, 1998. "Employment Effects of Payroll Taxes - An Empirical Test for Germany," IZA Discussion Papers 11, Institute for the Study of Labor (IZA). [Downloadable!]
    Other versions:
Statistics
Access and download statistics

Did you know? All the bibliographic data shown here has been contributed by volunteers, thereby helping to keep this service free.

This page was last updated on 2009-11-24.

This information is provided to you by IDEAS at the Department of Economics, College of Liberal Arts and Sciences, University of Connecticut using RePEc data on a server sponsored by the Society for Economic Dynamics.