Essay on How Labor Market Suffered Due to Coronavirus.
My thesis investigates the role of incentives for employees and the phenomenon of labour market hysteresis in driving productivity and employment in the labor market in the UK. Chapter 1 summarizes the thesis. The second chapter estimates the impact of introducing an explicit points-based system in favour of finding jobs for the disabled in a UK job placement agency.
Empirical studies in labour economics often suffer from endogeneity problems. Employing exogenous variations in policies and natural shock, this thesis investigates three topics. The first two topics concern labour market phenomena in Thailand, whereas the third provides a case study of labour demand adjustment after an international supply chain shock.
There is a considerable amount of heterogeneity in the individual success of workers on the labour market. This justifies the existence of social insurance and of redistribution programs. However, when investigating these policies, it is essential to take into account the search and informational frictions that characterize the labour market.
Core Notes: Trade unions can use their collective bargaining power to increase the real wages of their members and therefore improve welfare. Eval: If wages rise faster than productivity, then firms will see a rise in unit costs and this can negatively affect profits and eventually lead to less jobs.
The effect of the coronavirus (COVID-19) pandemic on our capacity means we have reviewed the existing labour market releases and will be suspending some publications. This will protect the delivery and quality of our remaining labour market outputs as well as ensuring we can respond to new demands.
My thesis studies aspects related to international trade, labour markets and productivity. The first chapter analyses how countries adjust to the rise of China considering that labour markets are imperfect. I provide a theoretical framework to structurally quantify the impact of trade shocks and I find that China’s integration generates overall gains worldwide.
Description: A labour market in an economy functions with demand and supply of labour. In this market, labour demand is the firm's demand for labour and supply is the worker's supply of labour. The supply and demand of labour in the market is influenced by changes in the bargaining power.