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2. Rethinking Monopoly as a Power Relation: The Shift from Market to Intellectual Monopoly
- Author:
- Cecilia Rikap
- Publication Date:
- 01-2023
- Content Type:
- Working Paper
- Institution:
- City Political Economy Research Centre (CITYPERC), University of London
- Abstract:
- The critical literature on monopolies, from monopoly capital to recent contributions, focuses on the organization that concentrates either market power, capital or property rights. I complement this literature by conceptualizing monopolies as a power relation, which enables me to integrate different ways in which the term is used, from capitalists’ monopoly over the means of production to intellectual monopolization. As I explain here, some firms have developed greater capacities to systematically monopolize intangibles that are essential for organizing labour beyond their owned assets and for controlling demand. Coupled with institutional, political and technological changes, larger absorptive and management capacities to produce and capture knowledge and information resulted in firms’ technological differentiation. The systematic winners of the innovation race hold persistent intellectual monopolies while other firms become subordinate due to their lack of technical autonomy. From this perspective, (intellectual) monopoly power is essential for understanding the distribution of value in capitalism.
- Topic:
- Political Economy, Labor Issues, Capitalism, Monopoly, Capital, Power Relations, and Value Capture
- Political Geography:
- Global Focus
3. Fossil Fuel Industry Phase-Out and Just Transition: Designing Policies to Protect Workers’ Living Standards
- Author:
- Robert Pollin
- Publication Date:
- 02-2023
- Content Type:
- Working Paper
- Institution:
- Political Economy Research Institute (PERI), University of Massachusetts Amherst
- Abstract:
- This paper focuses on just transition policies targeted at supporting workers now employed in the fossil fuel industries and ancillary sectors within high-income economies. As a general normative principle, I argue that the overarching aim of such policies should be to protect workers against major losses in their living standards resulting through the fossil fuel industry phase-out. The impacted workers should be provided with three critical guarantees to accomplish this, in the area of jobs, compensation and pensions. Just transition policies should also support workers in the areas of job search, retraining and relocation, but these forms of support should be understood as supplementary. Within the framework of these broad principles, the paper first reviews experiences with transitional policies in Germany, the UK, the EU and, more briefly, Japan and Canada. A critical point that emerges is that these just transition policies do not provide the needed guarantees for assuring workers that they will not experience major living standard declines. The paper then describe an illustrative just transition program for workers that includes reemployment, income and pension guarantees, focusing on a case study for the U.S. state of West Virginia. The results show that the costs of the just transition program for West Virginia’s fossil fuel industry dependent workers will amount to an annual average of about $42,000 per worker, equal to about 0.2 percent of West Virginia’s GDP. I briefly summarize results from the seven other studies of U.S. states and for the overall U.S. economy. For the U.S. economy overall, the just transition program’s costs would total to about 0.015 percent of GDP. These findings demonstrate that providing a generous just transition program does not entail unaffordable levels of public spending. Robust just transition policies should therefore be understood as an entirely realistic prospect for all high-income economies.
- Topic:
- Political Economy, Labor Issues, European Union, GDP, Economy, and Fossil Fuels
- Political Geography:
- Japan, United Kingdom, Europe, Canada, and Germany
4. The Political Economy of the Cost of Living Crisis in the UK: What Is to Be Done?
- Author:
- Ozlem Onaran
- Publication Date:
- 02-2023
- Content Type:
- Working Paper
- Institution:
- Political Economy Research Institute (PERI), University of Massachusetts Amherst
- Abstract:
- This paper analyzes the political economy of the cost of living crisis in the context of the United Kingdom. The paper presents the long-term trends in the wage share, wealth inequality, labour’s bargaining power, and real wages in the UK. The first and second waves of inflation in 2021-22 are discussed presenting the trends in the profit margins. The policy responses by the conservative governments and the Bank of England are analyzed, and their limitations are assessed. The paper concludes with short-run and medium-run policy alternatives to the cost of living crisis
- Topic:
- Political Economy, Labor Issues, Inequality, Inflation, and Cost of Living
- Political Geography:
- United Kingdom and Europe
5. Structural transformation and sources of growth in Turkey
- Author:
- Ahmet Ihsan Kaya and Cumhur Çiçekçi
- Publication Date:
- 06-2023
- Content Type:
- Working Paper
- Institution:
- United Nations University
- Abstract:
- This paper provides a comprehensive analysis of the supply and demand side of structural transformation in Turkey. Using the GGDC/UNU-WIDER Economic Transformation Database, we find that labour productivity improvements explain more than half of economic growth in the period 1980–2021. This is mainly thanks to within-sector productivity improvements, while the contribution of structural change declines over time. Time-series regression analysis shows that structural change is driven by per capita income growth and financial openness but is halted by trade integration. Furthermore, decomposition analysis from input– output tables demonstrates that domestic final demand has been the main source of output growth since 1980 and the contribution of export expansion has increased over time, but import dependency has persisted. The intermediate goods industry stands out as the locomotive sector in the economy throughout the entire period according to forward and backward linkage analysis.
- Topic:
- Labor Issues, Economic Growth, Productivity, Income, Supply and Demand, and Structural Transformation
- Political Geography:
- Turkey and Middle East
6. Structural change and the National Initiative for Human Development in Morocco
- Author:
- Al-mouksit Akim and Wissal Sahel
- Publication Date:
- 06-2023
- Content Type:
- Working Paper
- Institution:
- United Nations University
- Abstract:
- This paper aims to revisit the pace and patterns of structural change in Morocco with a renewed perspective focusing on subnational trends to document the macro patterns. In that perspective, we first build a within-country sectoral longitudinal dataset covering employment and value added (VA) that expands the international databases mostly used in the literature. Based on this novel dataset, our results shed light on the different contributions of subnational units (regions) to labour productivity growth and, subsequently, structural change. Taking advantage of this novel dataset, we use an instrumental variable (IV) strategy to estimate the impact of the National Initiative for Human Development (NIHD) programme on labour productivity growth and both of its components: the between (structural change) and the within components. We find that the NIHD programme positively affects productivity growth overall, mainly through structural change. The results are driven by urban areas and the participation of local actors such as associations or cooperatives in the management of NIHD projects.
- Topic:
- Labor Issues, Economy, Human Development, Productivity, and Structural Transformation
- Political Geography:
- North Africa and Morocco
7. Trade sanctions and informal employment
- Author:
- Ali Moghaddasi Kelishomi and Robert Nisticò
- Publication Date:
- 01-2023
- Content Type:
- Working Paper
- Institution:
- United Nations University
- Abstract:
- This paper examines how trade sanctions affect the allocation of workers across formal and informal employment. We analyse the case of the unexpected and unprecedented trade sanctions imposed on Iran in 2012. We use a difference-in-differences approach and compare the probability of working in the informal sector before and after 2012 for individuals employed in industries with pre-existing different levels of exposure to international trade. Combining employment data from the Iranian Labour Force Survey and trade data from Iran’s Customs Administration database for the years 2008–14, we find that workers employed in industries initially facing higher exposure to trade are significantly more likely to experience informal employment in the years after 2012 than workers employed in industries with lower trade exposure. This result suggests that, in the short run, the informal sector may absorb a significant fraction of workers displaced by the trade shock caused by the sanctions. We estimate that the increase in informal employment is highest for poorly educated workers, highlighting the unequal labour market consequences of trade sanctions. We exclude that industries differentially exposed to international trade were already following a different trend in the share of informal employment in the years prior to 2012, thus providing empirical support for the validity of our identification strategy. Moreover, we show that our main result holds when accounting for potential sorting issues by an instrumental variable approach. Our findings shed light on a potentially important dimension of labour reallocation whereby trade sanctions can affect the economy of the target country. They also provide important implications for policies designed to address informal employment and to assist trade-displaced workers.
- Topic:
- Labor Issues, Sanctions, Employment, Trade, and Informal Economy
- Political Geography:
- Iran and Middle East
8. The hidden inequalities of digitalisation in the post-pandemic context
- Author:
- Cristiano Cadagnone and Maria Savona
- Publication Date:
- 01-2023
- Content Type:
- Working Paper
- Institution:
- Bruegel
- Abstract:
- Digitalisation has a ‘hidden’ impact on employment, particularly on the invisible conditions of some jobs, as perceived by workers, that are relatively less explored in the literature and that could represent a substantial social cost, particularly in the aftermath of the financial crisis and the COVID-19 pandemic. We start by summarising a few main challenges of digitalisation, with a focus on the additional challenges brought about by the pandemic, the rise of platforms and alternative work arrangements, and the current attempts to regulate these. We then discuss the hidden aspects of inequality linked to the unmeasured side effects of digitalisation. Mental health in particular should be taken into account, particularly in the post-pandemic context, which has led to a significant amount of working from home. Also, the reduction of tasks previously done in the workplace in favour of remote working might limit social interactions, creativity and innovation potential. We conclude by suggesting areas for policy interventions.
- Topic:
- Labor Issues, Economy, Automation, and COVID-19
- Political Geography:
- Europe and Global Focus
9. Employment Effects of Offshoring, Technological Change and Migration in a Group of Western European Economies: Impact on Different Occupations
- Author:
- Michael Landesmann and Sandra Leitner
- Publication Date:
- 03-2023
- Content Type:
- Working Paper
- Institution:
- The Vienna Institute for International Economic Studies (WIIW)
- Abstract:
- This paper estimates conditional demand models to examine the impact of offshoring, technological change, and migration on the labour demand of native workers differentiated by four different types of occupational groups: managers/professionals, clerical workers, craft (skilled) workers and manual workers. The analysis is conducted for an unbalanced panel of five economies Austria, Belgium, France, Spain, and Switzerland covering the period 2005-2018. Our results point to important and occupation-specific effects: offshoring seems to have beneficial employment effects for native craft workers in this set of economies, while negative effects for native manual workers across a wide set of industries (including manufacturing and services industries) and managers/professionals in manufacturing. Furthermore, there are important distinctions whether offshoring occurs in other advanced economies, in the EU13 or in developing countries. The analysis of the impact of technological change shows the strong positive impact which the additional IT equipment has on most occupational groups of native workers (with the exception of manual workers), while robotisation in manufacturing showed strongly negative impacts on the employment of all groups of workers and especially of craft workers. Increasing immigrant shares in the work forces showed strongly negative impacts on native workers – however, considering only the partial substitution effects and not including the potential for productivity and demand effects – and this is mostly accounted for by immigration from low- to medium-income source countries.
- Topic:
- International Trade and Finance, Migration, Labor Issues, Immigration, Foreign Direct Investment, Employment, Competition, Income Distribution, and Offshoring
- Political Geography:
- Europe, France, Belgium, Spain, Switzerland, and Austria
10. Functional Specialisation and Working Conditions in Europe
- Author:
- Sandra Leitner, Roman Stöllinger, and Zuzana Zavarská
- Publication Date:
- 05-2023
- Content Type:
- Working Paper
- Institution:
- The Vienna Institute for International Economic Studies (WIIW)
- Abstract:
- Specialisation in value-chain functions is one of the new phenomena introduced by global value chains (GVCs). This report investigates the effects of functional specialisation on labour markets in fabrication and R&D activities as the two polar cases of value-chain functions, whereby the former is associated with factory economies, while the latter is characteristic of headquarter economies. More precisely, a metric similar to revealed comparative advantage is used to study the effect of relative functional specialisation on wages and non-wage working conditions. In line with the GVC literature emphasising power relations and organisational aspects of production networks, we are able to identify differentiated effects for functional specialisation patterns on wages in EU member states at the industry level across time. While relative functional specialisation in fabrication tends to hold back wages, functional specialisation in R&D has a positive effect on wage progression, controlling for labour productivity, GVC participation and numerous labour supply- and labour demand-side factors. The use of a constructed ‘sharp’ instrument allows giving these results a causal interpretation. Conversely, both functional specialisation measures are found to improve some non-wage working conditions, namely workers’ physical environment and their work intensity, which is evidence against a potential ‘race to the bottom’ effect of functional specialisation along GVCs. The effect is stronger for relative specialisation in fabrication than for relative specialisation in R&D.
- Topic:
- International Trade and Finance, Labor Issues, Foreign Direct Investment, European Union, Labor Market, Value Chains, and Wages
- Political Geography:
- Europe