Open Access. Powered by Scholars. Published by Universities.®
Social and Behavioral Sciences Commons™
Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 18 of 18
Full-Text Articles in Social and Behavioral Sciences
In A Gig Economy, Do People Work More When Wages Rise?, Singapore Management University
In A Gig Economy, Do People Work More When Wages Rise?, Singapore Management University
Perspectives@SMU
Study finds that when wages go up, how the supply of labour changes can depend on how the change in pay is communicated
Rethinking The Role Of Employment Barriers In Active Labor Market Policy: Evidence From A Fixed Effects Analysis, Jian Qi Tan, Irene Y. H. Ng, Kong Weng Ho
Rethinking The Role Of Employment Barriers In Active Labor Market Policy: Evidence From A Fixed Effects Analysis, Jian Qi Tan, Irene Y. H. Ng, Kong Weng Ho
Research Collection School Of Economics
Using a panel dataset from a five-wave survey of participants in Singapore’s Work Support Programme (WSP) from 2010 to 2016, we quantify the cumulative negative impact of facing multiple employment barriers and demonstrate the association between the individual stressors and labor market indicators. Using a fixed effects model to reduce the confounding effects of unobservables, we find that a one standard deviation increase in the number of employment barriers brings about a 2.7 to 3.5 percentage point increase in the probability of being unemployed and a 58 SGD to 78 SGD decrease in individual earnings.
Employment Duration And Match Quality Over The Business Cycle, Ismail Baydur, Toshihiko Mukoyama
Employment Duration And Match Quality Over The Business Cycle, Ismail Baydur, Toshihiko Mukoyama
Research Collection School Of Economics
This paper studies the cyclical behavior of employment duration using data from the National Longitudinal Survey of Youth 1979 cohort. We estimate a proportional hazard model with competing risks, distinguishing different types of separations. A higher unemployment rate at the start of an employment relationship increases the probability that the worker quits to take or look for another job, but it decreases the probability that the firm fires the worker. The net effect of these opposing forces on the overall duration of the employment is negative, but small, implying that match quality is weakly pro-cyclical. We also build a simple …
Innovation And Employment, Hian Teck Hoon, Edmund S. Phelps
Innovation And Employment, Hian Teck Hoon, Edmund S. Phelps
Research Collection School of Economics
Is employment higher in an economy that has a higher rate of innovation? In Hoon and Phelps (1997), we study this question in the small open, and closed, economy under the assumption that the rate of technological progress is exogenous to the economic system.In this paper, we reexamine this question in the context of a model with endogenous product innovation (and thus endogenous technological progress) and endogenous labor supply first in a small open economy taking the world interest rate as given and then ina closed economy that determines the whole term structure of the interest rate. In our present …
Payroll Taxes, Wealth And Employment In Neoclassical Theory: Neutrality Or Nonneutrality?, Hian Teck Hoon
Payroll Taxes, Wealth And Employment In Neoclassical Theory: Neutrality Or Nonneutrality?, Hian Teck Hoon
Research Collection School Of Economics
The theoretical proposition that temporarily below-normal tax rates on labor this year, when merged with the prospect of reversion to normal rates next year, will encourage households to squeeze more work into this year and to work less in future years is well-founded. This proposition was recently tested anew on Icelandic data and performed well empirically (Bianchi, Gudmundsson, and Zoega 2001). But would a permanent cut in tax rates on labor encourage more work permanently—with no diminution of effectiveness? Conversely, does a permanent increase in tax rates on labor cause a permanent decline in hours worked?
Macroeconomic Effects Of Over-Investment In Housing In An Aggregative Model Of Economic Activity, Hian Teck Hoon
Macroeconomic Effects Of Over-Investment In Housing In An Aggregative Model Of Economic Activity, Hian Teck Hoon
Research Collection School Of Economics
Is there a theoretical basis for the view that the end of a period of over-investment necessarily leads to a period of below-normal employment as the excess capital stock is run down? We study the repercussions of a false boom in housing driven by prior expectations of future housing prices not justified by fundamentals. When these expectations are corrected, the result is a precipitous drop in housing prices and, on that account alone, some drop in employment. There is also a bulge in the housing stock. In the closed economy case, the downward shift of the term structure of interest …
Macroeconomic Effects Of Over-Investment In Housing In An Aggregative Model Of Economic Activity, Hian Teck Hoon
Macroeconomic Effects Of Over-Investment In Housing In An Aggregative Model Of Economic Activity, Hian Teck Hoon
Research Collection School Of Economics
Is there a theoretical basis for the view that the end of a period of over-investment necessarily leads to a period of below-normal employment as the excess capital stock is run down? We study the repercussions of a false boom in housing driven by prior expectations of future housing prices not justified by fundamentals. When these expectations are corrected, the result is a precipitous drop in housing prices and, on that account alone, some drop in employment. There is also a bulge in the housing stock. In the case of a closed economy, the downward shift of the term structure …
Payroll Taxes, Wealth And Employment In Neoclassical Theory: Neutrality Or Non-Neutrality?, Hian Teck Hoon
Payroll Taxes, Wealth And Employment In Neoclassical Theory: Neutrality Or Non-Neutrality?, Hian Teck Hoon
Research Collection School Of Economics
The theoretical proposition that temporarily below-normal tax rates on labor this year, when merged with the prospect of reversion to normal rates next year, will encourage households to squeeze more work into this year and to work less in future years is well-founded. This proposition was recently tested anew on Icelandic data and performed well empirically (Bianchi, Gudmundsson and Zoega (2001)). But would a permanent cut in tax rates on labor encourage more work permanently—with no diminution of effectiveness? Conversely, does a permanent increase in tax rates on labor cause a permanent decline in hours worked?
A Structuralist Model Of The Small Open Economy In The Short, Medium And Long Run, Hian Teck Hoon, Edmund S. Phelps
A Structuralist Model Of The Small Open Economy In The Short, Medium And Long Run, Hian Teck Hoon, Edmund S. Phelps
Research Collection School Of Economics
Open-economy macroeconomics contains a monetary model in the Keynesian tradition that is deemed serviceable for analyzing the short run and a nonmonetary neoclassical model thought capable of handling the long run. But do the Keynesian and neoclassical models meet the challenges thrown out by the main events of the past few decades? We first indicate that the effects of these shocks on the open economy are not well captured by either the standard Keynesian model or the standard neoclassical theory. Next we provide a careful development of a nonmonetary model of the equilibrium path of the real exchange rate, share …
A Structuralist Model Of The Small Open Economy In The Short, Medium And Long Run, Hian Teck Hoon, Edmund S. Phelps
A Structuralist Model Of The Small Open Economy In The Short, Medium And Long Run, Hian Teck Hoon, Edmund S. Phelps
Research Collection School Of Economics
In open-economy macroeconomics there is a monetary model in the Keynesian tradition that is deemed serviceable for analyzing the short run and there is a nonmonetary neoclassical theory thought capable of handling the long run. But do the Keynesian and neoclassical models meet the challenges thrown out by the main events of the past few decades¡ªthe '80s shock to Europe taking the form of an external jump in real interest rates; the sort of shock experienced in the U.S. and parts of northern Europe in the second half of the '90s: the emerging prospect of new industries in the future …
A Structuralist Model Of The Small Open Economy In The Short, Medium And Long Run, Hian Teck Hoon, Edmund S. Phelps
A Structuralist Model Of The Small Open Economy In The Short, Medium And Long Run, Hian Teck Hoon, Edmund S. Phelps
Research Collection School Of Economics
Open-economy macroeconomics contains a monetary model in the Keynesian tradition that is deemed serviceable for analyzing the short run and a nonmonetary neoclassical model thought capable of handling the long run. But do the Keynesian and neoclassical models meet the challenges thrown out by the main events of the past few decades—the ’80s shock to Europe from the sharp increase of external real interest rates; the kind of speculative shock experienced in the U.S. and parts of northern Europe in the second half of the ’90s: the prospect of new industries emerging in the future with needs for new capital; …
Effects Of Technological Improvement In The Ict Producing Sector On Business Activity, Hian Teck Hoon, Edmund S. Phelps
Effects Of Technological Improvement In The Ict Producing Sector On Business Activity, Hian Teck Hoon, Edmund S. Phelps
Research Collection School Of Economics
It seems to be taken for granted by many commentators that the sharp decline in prices of computers, telecommunications equipment and software resulting from the technological improvements in the information and communications technology (ICT)-producing sector is good for jobs and is a major driving force behind the non-inflationary employment miracle and booming stock market in the latter half of the nineties in the U.S. and their recurrence since 2004. We show that, in our model, a technical improvement in the ICT-producing sector by itself cannot explain a simultaneous increase in employment and a rise in firms’ valuation (or Tobin’s Q …
Older Workers: Untapped Assets For Creating Value, Knowledge@Smu
Older Workers: Untapped Assets For Creating Value, Knowledge@Smu
Knowledge@SMU
The days when an executive could look forward to a leisurely retirement out on the golf course are over, thanks to a possible looming job shortage, a graying population, low savings rates and an insecure Social Security system. The impact of these factors on both workers and companies was the subject of the Symposium on Older Workers, co-sponsored recently by the AARP Global Aging Program along with Wharton's Center for Human Resources and Boettner Center for Pensions and Retirement Research. Speakers included AARP CEO William D. Novelli, Olivia Mitchell, executive director of Wharton's Pension Research Council, and Thomas Dowd, a …
Future Job Prospects In Singapore, Hian Teck Hoon
Future Job Prospects In Singapore, Hian Teck Hoon
Research Collection School Of Economics
No abstract provided.
Future Fiscal And Budgetary Shocks, Hian Teck Hoon, Edmund S. Phelps
Future Fiscal And Budgetary Shocks, Hian Teck Hoon, Edmund S. Phelps
Research Collection School Of Economics
We study here the effects of future tax and budgetary shocks on present levels of economic activity and real interest rates in a nonmonetary and possibly non-Ricardian economy. The paper first takes up an (unanticipated) temporary tax cut to be effective on a given future date—a delayed debt bomb. The sudden prospect of this future-dated shock causes at once a drop in the (unit) value placed on the firms’ business asset, the customer, and accordingly on the price of shares—with the result that the hourly wage, hours worked and GDP drop in tandem. This paradox of reduced activity through announcement …
Endogenous Growth And Equilibrium Unemployment In A North-South Model Of The World Economy, Hian Teck Hoon
Endogenous Growth And Equilibrium Unemployment In A North-South Model Of The World Economy, Hian Teck Hoon
Research Collection School Of Economics
A North-South model is developed which incorporates an endogenous rate of equilibrium unemployment in the North in the context of long-run growth. It is shown how increases in the size of public debt and unemployment compensation financed by payroll taxation, all measured relative to productivity, raise the Northern natural rate of unemployment and, consequently, reduce the global rate of long-run growth. The effect of the shocks is also to drive down the rate of employment expansion in the South. A set of the fundamental determinants of the world terms of trade is obtained, which includes policy parameters.
Productivity Growth And Public Sector Employment, Kong Weng Ho, Hian Teck Hoon
Productivity Growth And Public Sector Employment, Kong Weng Ho, Hian Teck Hoon
Research Collection School Of Economics
Our model endogenizes the share of public sector employment in a neoclassical growth model. Under the assumptions that public sector production is labor intensive and the elasticity of substitution between capital and labor is less than one, the public share of employment is shown to decline with a rise in capital per effective worker. Our theory predicts that periods of high productivity growth are associated with a rising trend of the public share of employment. This prediction conforms well with U.S. experience from 1950-1995.
Economic Development And The Distribution Of Land Rents In Singapore: A Georgist Implementation, Sock-Yong Phang
Economic Development And The Distribution Of Land Rents In Singapore: A Georgist Implementation, Sock-Yong Phang
Research Collection School Of Economics
Independent Singapore, which has a tradition of free trade, has implemented large doses of Henry George's prescriptions. It has successfully captured land rents for redistribution through its land acquisition, public housing and other programs. These policies have been instrumental in the successful economic development of the island city state. Industrial estates on state-owned land were leased to foreign multinationals for export-oriented manufacturing which created the bulk of jobs in the sector. Commercial developments are built by the program. Affordable 99-year leasehold housing, built by the state, provided added economic incentives for employment, and helped keep inflation and wages down. Private …