Firm heterogeneity and immigrant wage assimilation

This article investigates the role of job mobility in immigrant wage assimilation. I use longitudinal linked employer–employee data for Portugal to estimate the immigrant wage catch-up in log wage regressions with both individual and firm fixed effects. I show that moving to firms with higher wage premiums accounts for approximately 30% of the immigrant wage catch-up in the first years.     

Performance-related pay and gender wage differences

We study the impact of performance-related pay (PRP) on gender wage differences using Finnish-linked employer–employee panel data. Controlling for unobserved person and firm effects, we find that bonuses increase women’s earnings slightly less than men’s, but the economic significance of the difference is negligible. Piece rates and reward rates, however, tend to increase gender wage differentials. Thus, the nature of a PRP plan is important for gauging the impact of PRP on gender wage differentials. A comparison with OLS results shows the importance of controlling for an unobserved person and firm effects.     

The Roles of Job and Worker Restructuring in Aggregate Wage Growth Dynamics1

We propose an approach for measuring and analyzing the dynamics of the standard aggregate wage growth of macro statistics with micro data. Our method decomposes the aggregate wage growth into the wage growth of job stayers and into various terms related to job and worker restructuring. This method produces explicit expressions with clear interpretations for the various restructuring components. Using comprehensive longitudinal employer–employee data, we study how job and worker restructuring influence the aggregate wage growth and its cyclicality. The results highlight the importance of drawing a sharp distinction between job and worker restructuring in the analysis of aggregate wage growth dynamics.     

The influence of owners on voucher provatized firms in the Czech Republic

This paper analyses evidence gathered via a survey of former state enterprises in the Czech Republic to investigate how far these now privatized firms have been subject to the influence and control of their new owners, principally investment privatization funds. The paper summarizes the survey evidence and sets out its findings under two broad headings: First, the extent and nature of the way these funds have sought to exercies control over the firms they own; and second, the various facets of a firm's operations that have, or have not, been altered by the change of owner. The paper discusses the reasons behing the findings, arguing particularly that Czech voucher privatization, although in itself complete, should be seen and judged as the real privatization and not the finish.     

China wage inequality: the role of trade and technology

This article empirically investigates the impact of international trade and technical change on skill premia for a panel of 28 manufacturing sectors in China over the period 2002–2011. The results find that the effect of changes of the share of SOEs is twofold. First, the contraction of SOEs promoted productivity growth, and the promoting effect was skill-biased, which tended to increase the skill premia in China. Second, the drop of product prices resulting from falling SOEs share was more magnificent in skill-intensive industries, which helped to mitigate wage inequality through product prices. The accounted-for portion of price changes by productivity growth was skill-biased, significantly raising skill premia through product prices. However, the portion of price changes accounted for by foreign price was unskill-biased, and world price competition diminished the growing income disparity in China.     

捷克研发创新理事会活动情况概述

捷克研究、发展和创新理事会是捷克政府科技创新管理领域专家咨询机构,在捷克研发创新体系中发挥着核心作用。本文介绍了理事会职能、人员组成、工作机制,以及近期为推动创新开展的重点工作,为深入了解捷克研发创新政策和战略、重点发展领域,以及专家咨询机制在创新发展中的作用提供了有益借鉴。     

Use of social networks in banking: a study in the Czech Republic

Social networks are becoming more and more important nowadays. Apart from regular users of the Internet, companies have started to use them in their business. Their potential is that a great number of people, future clients of big companies, use them on a daily basis. Thus, the aim of this article is to analyse the use of social networks in the banking sector of the Czech Republic, particularly with respect to customer support. The methods of this study include common data analysis and professional analysis. Common data analysis consists of the evaluation of public data from social networks and web pages of the selected bank institutions. The professional analysis is conducted by paid professional analytical tools that provide more detailed statistics. The findings of the study show that social networks are now well-established tools for the Czech banks to attract both their current and potential clients. The Czech banks seem to care about their clients by trying to meet their needs. Customer care and services provided, however, differ with type of bank.     

Economic and clinical comparison of atypical depot antipsychotic drugs for treatment of chronic schizophrenia in the Czech Republic

Abstract

Purpose:

The Czech Republic is faced with making choices between pharmaceutical products, including depot injectable antipsychotics. A pharmacoeconomic analysis was conducted to determine the cost-effectiveness of atypical depots.

Methods:

An existing 1-year decision-analytic framework was adapted to model drug use in this healthcare system. The average direct costs to the General Insurance Company of the Czech Republic of using paliperidone palmitate (Xeplion®), risperidone (Risperdal Consta®), and olanzapine pamoate (Zypadhera®) were determined. Literature-derived clinical rates populated the model, with costs adjusted to 2012 Euros using the consumer price index. Outcomes included quality-adjusted life-years (QALYs), days in remission, and proportions hospitalized or visiting emergency rooms. One-way sensitivity analyses were calculated for all important inputs. A multivariate probability analysis was used to examine the stability of results using 10,000 iterations of simulated input over reasonable ranges of all included variables.

Results:

Expected average costs/per patient treated were €5377 for PP-LAI, €6118 for RIS-LAI, and €6537 for OLZ-LAI. Respective QALYs were 0.817, 0.809, and 0.811; ER visits were 0.127, 0.134, and 0.141; hospitalizations were 0.252, 0.298, and 0.289. Results were generally robust in sensitivity analyses. PP-LAI dominated RIS-LAI and OLZ-LAI in 90.2% and 92.1% of simulations, respectively. Results were insensitive to drug prices but sensitive to adherence and hospitalization rates.

Conclusions:

PP-LAI dominated the other two drugs, as it had a lower overall cost and superior clinical outcomes, making it the preferred choice. Using PP-LAI in place of RIS-LAI for chronic relapsing schizophrenia would reduce the overall costs of care for the healthcare system.     

Cost-effectiveness of denosumab versus zoledronic acid for preventing skeletal-related events in the Czech Republic

Aims: This study assessed the cost-effectiveness of the subcutaneous RANKL inhibitor, denosumab, vs the intravenous bisphosphonate, zoledronic acid, for the prevention of skeletal-related events (SREs) in patients with prostate cancer, breast cancer, and other solid tumors (OST) in the Czech Republic.

Materials and methods: A lifetime Markov model was developed to compare the effects of denosumab and zoledronic acid on costs (including drug costs and administration, patient management, SREs, and adverse events), quality-adjusted life-years (QALYs), and incremental cost-effectiveness ratios from a national payer perspective. Different discount rates, time horizons, SRE rates, distributions, and nature (asymptomatic vs all SREs), and the inclusion of treatment discontinuation were considered in scenario analyses. The robustness of the model was tested using deterministic and probabilistic sensitivity analyses.

Results: Across tumor types, denosumab was associated with fewer SREs, improved QALYs, and higher total costs over a lifetime. The incremental cost per QALY gained for denosumab vs zoledronic acid was 382,673 CZK for prostate cancer, 408,450 CZK for breast cancer, and 608,133 CZK for OST. Incremental costs per SRE avoided for the same tumor type were 54,007 CZK, 51,765 CZK, and 94,426 CZK, respectively. In scenario analyses, the results remained similar to baseline, when different discount rates and time horizons were considered. At a non-official willingness-to-pay threshold of 1.2 million CZK, the probabilities of denosumab being cost-effective vs zoledronic acid were 0.64, 0.67, and 0.49 for prostate cancer, breast cancer, and OST, respectively.

Limitations: The SRE rates used were obtained from clinical trials; studies suggest rates may be higher in clinical practice. Additional evidence on real-world SRE rates could further improve the accuracy of the modeling.

Conclusions: Compared with zoledronic acid, denosumab provides a cost-effective treatment option for the prevention of SREs in patients with prostate cancer, breast cancer, and OST in the Czech Republic.     

Municipal Finance in Poland,the Slovak Republic,the Czech Republic and Hungary: Institutional Framework and Recent Development

The recent process of political and economic transition in eastern European countries has not only contributed to the decentralisation of political structure but also significantly enhanced the fiscal autonomy of municipalities in these countries. In this context many similar types of public activities have recently been assigned to local governments, and some taxes were also declared to be local taxes. To be sure, this type of fiscal decentralisation has caused some additional problems, particularly for safeguarding the quality of publicly provided goods and services and for co-ordinating intergovernmental fiscal transfers between the central and local governments. For instance, some criticise that many small-sized municipalities in the transition economies have suffered from financial bottlenecks and have not been able to receive sufficient financial support from the central government. However, such a fiscal devolution trend appears to continue. This study primarily deals with issues surrounding the impact of national fiscal policy and the regulatory framework on local governments' expenditure behaviour and their ability to mobilise necessary revenues under the particular consideration of the institutional and administrative co-operation with the central government and of the less well-developed financial market in Poland, the Slovak Republic, the Czech Republic and Hungary.     

Labour Mobility and Returns to Experience in Foreign Firms*

This paper uses Finnish linked employer–employee panel data to study whether employees are able to appropriate returns to knowledge accumulated in foreign‐owned firms when moving to domestic firms. The estimates indicate that highly educated employees earn a return to prior experience in a foreign‐owned firm, which is over and above the return to other previous experience. These employees do not appear to pay for the knowledge they accumulate in the form of lower starting wages in foreign‐owned firms.     

The impact of the informal economy on R&D,wage inequality and economic growth

We extend the existing research and development (R&D) growth literature by focusing on the short–medium–long run effects of the informal sector on R&D intensity, wage inequality and economic growth, and by considering 18 OECD countries between 1990 and 2008. We show that: the steady state is unique and stable; the share of informal economy (IE) in production affects negatively R&D intensity and wage equality; Nordic countries have the lowest share of IE in production, while Mediterranean countries have the highest share of IE, wage inequality and R&D intensity but R&D spillovers are lower.     

Wage differentials across sectors in Europe

Using a unique harmonized linked employer–employee dataset, this paper analyses the structure and determinants of inter‐industry wage differentials in Central and Eastern European countries (Czech Republic, Latvia, Lithuania and Poland) and compares them to those observed in Western European states. Findings show substantial differences in earnings across sectors in all countries, even when controlling for a wide range of employee, job and employer characteristics. The hierarchy of sectors in terms of wages appears to be quite similar in Eastern and Western European countries, although the former tend to have higher levels of dispersion of inter‐industry wage differentials.     

The contribution of minimum wage valorization policy to the decline in household income inequality in Brazil: A decomposition approach

There is a vast literature that estimates the effect of the minimum wage on wage inequality in various countries. However, as the minimum wage directly affects nonlabor income of families in some countries (in the Brazilian case via the benefits of the pension system and of certain social programs), this article extends the empirical analysis by studying the effects of the minimum wage on the level of inequality of household income as a whole. To accomplish that we employ a decomposition method that gauges the contribution of the increases in the minimum wage that occurred in recent decades in Brazil through the labor and nonlabor sources of household income. The results show that the minimum wage had a contribution of 64 percent to the observed fall in income inequality between 1995 and 2014 and that pensions were the most relevant channel over this period.     

Endogenous schooling and the distribution of the gender wage gap

Previous studies on the gender wage gap have relied on OLS when estimating the wage equations. However, a number of recent studies, devoted to estimating the return to education, have shown that OLS may produce biased estimates for a number of reasons. As a consequence, previous results regarding the gender wage gap may also be biased. In this paper, we first estimate wage equations using a GMM procedure applied to panel data and then investigate the distribution of the gender wage gap. The results indicate that OLS may seriously overestimate the unexplained gender wage gap.First version received: October 2001/Final version accepted: July 2003     

Minimum wages and the wage distribution in Estonia

Abstract: This article studies how changes in the statutory minimum wage have affected the wage distribution in Estonia, a post-transition country with little collective bargaining and relatively large wage inequality. The analyses show that the minimum wage has had substantial spillover effects on wages in the lower tail of the distribution; the effects are most pronounced up to the twentieth percentile and then decline markedly. The minimum wage has contributed to lower wage inequality and this has particularly benefitted low-wage segments of the labour market such as women and the elderly. Interestingly, the importance of the minimum wage for the wage distribution was smaller during the global financial crisis than before or after the crisis.     

The Vietnam reforms,change in wage inequality and the role of the minimum wage

The Vietnam ‘renovation’ reforms were implemented during the 1990s, but their full effect was only felt several years later. We present evidence on the developments in real wage growth and inequality in Vietnam from 1998 to 2008. Using a variety of approaches (traditional measures of inequality, comparison of density functions, decomposition of the change in real wage by sector as well as a detailed decomposition of the change in the Gini), we present a consistent picture: contrary to what one might have expected given the nature of the reforms, inequality declined sharply in the private sector (but not in the state sector). This study links these developments to the policy of aggressively increasing the minimum wage over the past several years, differences in implementation by sector as well as variation in the over‐time changes in minimum wage.