A Hicksian model of local labor market turnover and wage determination
Employers have a variety of reasons for attempting to stabilize turnover in their labour force. For example, specific skill requirements, the added costs of training inherent in hiring new workers, and the absolute demand for labour may stimulate firms to minimize labour turnover. One way of reducin...
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| Fformat: | Journal article |
| Iaith: | English |
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Pion Ltd.
1981
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| _version_ | 1826287409336156160 |
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| author | Clark, G |
| author_facet | Clark, G |
| author_sort | Clark, G |
| collection | OXFORD |
| description | Employers have a variety of reasons for attempting to stabilize turnover in their labour force. For example, specific skill requirements, the added costs of training inherent in hiring new workers, and the absolute demand for labour may stimulate firms to minimize labour turnover. One way of reducing turnover is for the individual firm to raise its wage rates. However, depending upon the relative tightness of the local labour market (reflected in the rates of hiring and unemployment), this could result in widespread wage competition amongst employers and general increases in the aggregate local wage rate. The significance of quits, hires, and unemployment are explored, in an attempt to explain differential urban wage inflation in the United States. Emphasis is placed on Hicks's model of labour turnover which emphasizes the firm's management of its labour needs. This model is analysed in a time-series framework over the period 1970 - 1979; a decade of rapid inflation and general stagnation in the United States. |
| first_indexed | 2024-03-07T01:58:14Z |
| format | Journal article |
| id | oxford-uuid:9c76b869-e10e-4dc9-88dd-ddbc440011b3 |
| institution | University of Oxford |
| language | English |
| last_indexed | 2024-03-07T01:58:14Z |
| publishDate | 1981 |
| publisher | Pion Ltd. |
| record_format | dspace |
| spelling | oxford-uuid:9c76b869-e10e-4dc9-88dd-ddbc440011b32022-03-27T00:36:11ZA Hicksian model of local labor market turnover and wage determinationJournal articlehttp://purl.org/coar/resource_type/c_dcae04bcuuid:9c76b869-e10e-4dc9-88dd-ddbc440011b3EmploymentGeographyEnglishOxford University Research Archive - ValetPion Ltd.1981Clark, GEmployers have a variety of reasons for attempting to stabilize turnover in their labour force. For example, specific skill requirements, the added costs of training inherent in hiring new workers, and the absolute demand for labour may stimulate firms to minimize labour turnover. One way of reducing turnover is for the individual firm to raise its wage rates. However, depending upon the relative tightness of the local labour market (reflected in the rates of hiring and unemployment), this could result in widespread wage competition amongst employers and general increases in the aggregate local wage rate. The significance of quits, hires, and unemployment are explored, in an attempt to explain differential urban wage inflation in the United States. Emphasis is placed on Hicks's model of labour turnover which emphasizes the firm's management of its labour needs. This model is analysed in a time-series framework over the period 1970 - 1979; a decade of rapid inflation and general stagnation in the United States. |
| spellingShingle | Employment Geography Clark, G A Hicksian model of local labor market turnover and wage determination |
| title | A Hicksian model of local labor market turnover and wage determination |
| title_full | A Hicksian model of local labor market turnover and wage determination |
| title_fullStr | A Hicksian model of local labor market turnover and wage determination |
| title_full_unstemmed | A Hicksian model of local labor market turnover and wage determination |
| title_short | A Hicksian model of local labor market turnover and wage determination |
| title_sort | hicksian model of local labor market turnover and wage determination |
| topic | Employment Geography |
| work_keys_str_mv | AT clarkg ahicksianmodeloflocallabormarketturnoverandwagedetermination AT clarkg hicksianmodeloflocallabormarketturnoverandwagedetermination |