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Full-Text Articles in Economics
Relook Link Between Low Wages And Foreign Workers, Hian Teck Hoon
Relook Link Between Low Wages And Foreign Workers, Hian Teck Hoon
Research Collection School Of Economics
He felt that the commonplace idea that the huge inflow of foreign workers in the past decade caused a stagnation and even decline in real wage earnings of Singaporean workers in the bottom half of the income distribution was flawed. He argued that real wage earnings of the median worker actually increased when the number of inflows of foreign workers was reaching its peak. Prof Hoon thus felt that Singapore must now find a means to gear its political and economic institutions to continue to embrace economic openness in the next half-century, in order to be able to deliver good …
Minimum Wage In A Deflationary Economy: The Japanese Experience, 1994-2003, Ryo Kambayashi, Daiji Kawaguchi, Ken Yamada
Minimum Wage In A Deflationary Economy: The Japanese Experience, 1994-2003, Ryo Kambayashi, Daiji Kawaguchi, Ken Yamada
Research Collection School Of Economics
The statutory minimum wage in Japan has increased continuously for a few decades until the early 2000s even during a period of deflation. This paper examines the impact of the minimum wage on wage and employment outcomes under this unusual circumstance. We find that the minimum-wage increase resulted in the compression of the lower tail of the wage distribution among women and that the wage compression is only partially attributable to the loss of employment. The continuous increase in the minimum wage accounts for one half of the reduction in lower-tail inequality that occurred among women during the period between …
On The Effect And Remedies Of Shrinkage On Classification Probability Estimation, Zhengxiao Wu, Yufeng Liu, Zhengxiao Wu
On The Effect And Remedies Of Shrinkage On Classification Probability Estimation, Zhengxiao Wu, Yufeng Liu, Zhengxiao Wu
Research Collection School of Economics
Shrinkage methods have been shown to be effective for classification problems. As a form of regularization, shrinkage through penalization helps to avoid overfitting and produces accurate classifiers for prediction, especially when the dimension is relatively high. Despite the benefit of shrinkage on classification accuracy of resulting classifiers, in this article, we demonstrate that shrinkage creates biases on classification probability estimation. In many cases, this bias can be large and consequently yield poor class probability estimation when the sample size is small or moderate. We offer some theoretical insights into the effect of shrinkage and provide remedies for better class probability …
Welfare Reform And At-Risk Mothers' Labour Supply, Christine Ho
Welfare Reform And At-Risk Mothers' Labour Supply, Christine Ho
Research Collection School Of Economics
We analyse the impact of the early 1990s welfare waivers and the 1996 TANF reform in the United States on at-risk mothers' labour supply behaviour using the PSID. We find that whereas the welfare waivers had limited impacts on at-risk mothers, the TANF reform played an important role in encouraging those mothers to increase their labour supply at the intensive margin.
The Future Of Wages In Singapore, Hian Teck Hoon
The Future Of Wages In Singapore, Hian Teck Hoon
Research Collection School Of Economics
Prof Hoon discussed the future of wages in Singapore and identified major trends affecting Singapore's labour market over the past decade. He noted that in the future, SMEs that are unable to raise workers' productivity to match the higher labour costs will exit the industry, thus leading to job destruction. Also, for there to be a steady supply of jobs with good pay for Singaporeans, the country would need to continue to attract MNCs by harnessing its relative strength in institutional quality and the availability of a highly skilled workforce. Success in helping SMEs to raise their productivity levels and …
Schemes Work Hand In Hand To Boost Wages, Hian Teck Hoon
Schemes Work Hand In Hand To Boost Wages, Hian Teck Hoon
Research Collection School Of Economics
Professor Hoon Hian Teck discussed how this year's Budget helps both workers and companies push for higher productivity. The Workfare Income Supplement (WIS) scheme in 2007 provided one answer to boost the earnings of low-wage workers. The Wage Credit Scheme (WCS) introduced in Budget 2013 is another innovative policy instrument that works in tandem with the Productivity and Innovation Credit (PIC) scheme to help SMEs on their journey to becoming more productive. Under WCS, the Government covers 40 per cent of the wage increase from increased productivity (obtained through the PIC scheme), leaving the firm with a higher profit. Since …
Intertemporal Substitution In Maternal Labor Supply: Evidence Using State School Entrance Age Laws, Rashmi Rekha Barua
Intertemporal Substitution In Maternal Labor Supply: Evidence Using State School Entrance Age Laws, Rashmi Rekha Barua
Research Collection School Of Economics
I propose a new framework to study the intertemporal labor supply hypothesis. I use an exogenous source of variation in maternal net earning opportunities, generated through school entrance age of children, to study intertemporal labor supply behavior. Employing data from the 1980 US Census and the NLSY, I estimate the effect of a one year delay in school attendance on long run maternal labor supply. IV estimates imply that having a 5 year old enrolled in school increases labor supply measures for married women, with no younger children, by between 7 to 34 percent. Further, using a sample of 7 …