Melbourne Institute of Applied Economic and Social Research - Research Publications

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End date: 2007 × Start date: 2007 × Subject: Applied Economics ×

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    The consequences of underemployment for the underemployed
    Wilkins, R (SAGE PUBLICATIONS INC, 2007-04)
    Underemployment is generally conceived as excess labour supply associated with employed persons — that is, as a situation where employed persons would like to work more hours at prevailing wage rates. Using information collected by the 2001 Household, Income and Labour Dynamics in Australia survey, this study examines the effects of underemployment on outcomes such as income, welfare dependence and subjective well-being. Results obtained imply that, while unemployment clearly has greater adverse consequences, underemployment is nonetheless associated with significant detrimental effects on the outcomes examined. Negative effects are found for both part-time employed and full-time employed workers who would prefer to work more hours, but effects are greater for underemployed part-time workers, and are particularly large for part-time workers who would like to work full-time. Indeed, for part-time workers seeking full-time employment, adverse effects attributable to underemployment are, for some outcomes, not far short of those attributable to unemployment.
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    The effects of pay and job satisfaction on the labour supply of hospital consultants
    Ikenwilo, D ; Scott, A (WILEY-BLACKWELL, 2007-12)
    There is little evidence about the responsiveness of doctors' labour supply to changes in pay. Given substantial increases in NHS expenditure, new national contracts for hospital doctors and general practitioners that involve increases in pay, and the gradual imposition of a ceiling on hours worked through the European Working Time Directive, knowledge of the size of labour supply elasticities is crucial in examining the effects of these major changes. This paper estimates a modified labour supply model for hospital consultants, using data from a survey of consultants in Scotland. Rigidities in wage setting within the NHS mean that the usual specification of the labour supply model is extended by the inclusion of job quality (job satisfaction) in the equation explaining the optimal number of hours worked. Generalised Method of Moments estimation is used to account for the endogeneity of both earnings and job quality. Our results confirm the importance of pay and non-pay factors on the supply of labour by consultants. The results are sensitive to the exclusion of job quality and show a slight underestimation of the uncompensated earnings elasticity (of 0.09) without controlling for the effect of job quality, and 0.12 when we controlled for job quality. Pay increases in the new contract for consultants will only result in small increases in hours worked. Small and non-significant elasticity estimates at higher quantiles in the distribution of hours suggest that any increases in hours worked are more likely for consultants who work part time. Those currently working above the median number of hours are much less responsive to changes in earnings.
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    Geographically differentiated pay in the labour market for nurses
    Elliott, RF ; Ma, AHY ; Scott, A ; Bell, D ; Roberts, E (ELSEVIER, 2007-01)
    This novel application of spatial wage theory to health service labour markets analyses the competitiveness of nurse's pay and how this differs between local labour markets in Britain. A switching regression model is estimated to derive standardised spatial wage differentials (SSWDs) for nurses and their comparators. An SSWD gap is constructed and its relationship to vacancies estimated. A reduction in the gap in a local area is shown to result in an increase in the long-term vacancy rate for National Health Service (NHS) nurses. The competitiveness of nursing pay is shown to have a strong effect on the ability of the NHS to attract and retain nurses.
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    Inflation targeting, learning and Q volatility in small open economies
    Lim, GC ; McNelis, PD (ELSEVIER SCIENCE BV, 2007-11)