Wage Bargaining and Profitability: A Disaggregative Analysis

Abstract. Previous analyses of the wage/profit relationship at a disaggregative level in Britain have given positive results for pre-war years but negative results for early post-war years. However, this is probably due to the increasingly unreliable nature of the enterprise- based profits series published in the National Accounts until 1982. We have constructed, instead, what are essentially establishment-based Census data on profits for fourteen manufacturing industries, up to 1986. We have also been able to extend the disaggregative unemployment data, the publication of which also ceased in 1982. The wage equations that we have estimated include profits and unemployment (and other variables) in an explicit Nash bargaining model, in line with widely held views as to the way that wage negotiations are actually conducted. The results obtained show a highly significant role for profits, as well as having other implications, notably the positive (hysteresis) effect of industry unemployment, by contrast with the normal negative effect of aggregate unemployment, and the important effects of relative wages - which play a large role in various disaggregative studies of the propagation of inflation.     

Returns to education in the Irish youth labour market

Using data from two large-scale household surveys in 1987 and 1994, we estimate wage equations which show substantial increases in returns to university education for young Irish workers over the period, despite the exceptional increase in numbers with these qualifications. Returns to non-degree third level certificates and diplomas fell in relative terms, but returns to qualifications obtained by those leaving school at about 16 years of age rose. We argue that the increased return to university education primarily reflects the generalised shift in demand towards skilled labour internationally and the open nature of the Irish labour market. However, a floor may have been placed under earnings for low-skilled youth by the increased generosity of income support available to them. Received: 29 December 1997/Accepted: 7 August 1998     

Well-being and Mobility: A Theoretical Framework and Literature Review Focusing on Older People

There is an increasing attention for how mobility is associated with well-being amongst people in general and older adults in particular. Comparisons across research projects and articles are, however, hampered by the different understandings and conceptualisations of well-being that are employed. We, firstly, develop a heuristic framework for understanding the concept of well-being, and secondly, use this to explore possible linkages between well-being and mobility and to critically examine the various conceptualisations of well-being in research on mobility in later life. It is argued that future work on well-being and mobility should consider both the objective and the subjective and the hedonic and eudaimonic dimensions of well-being, and should pay detailed attention to the multiple ways in which well-being and its linkages to mobility are context-dependent and shaped by the particularities of time and place.     

Data‐driven treatment selection for seamless phase II/III trials incorporating early‐outcome data

Seamless phase II/III clinical trials are conducted in two stages with treatment selection at the first stage. In the first stage, patients are randomized to a control or one of k > 1 experimental treatments. At the end of this stage, interim data are analysed, and a decision is made concerning which experimental treatment should continue to the second stage. If the primary endpoint is observable only after some period of follow‐up, at the interim analysis data may be available on some early outcome on a larger number of patients than those for whom the primary endpoint is available. These early endpoint data can thus be used for treatment selection. For two previously proposed approaches, the power has been shown to be greater for one or other method depending on the true treatment effects and correlations. We propose a new approach that builds on the previously proposed approaches and uses data available at the interim analysis to estimate these parameters and then, on the basis of these estimates, chooses the treatment selection method with the highest probability of correctly selecting the most effective treatment. This method is shown to perform well compared with the two previously described methods for a wide range of true parameter values. In most cases, the performance of the new method is either similar to or, in some cases, better than either of the two previously proposed methods. © 2014 The Authors. Pharmaceutical Statistics published by John Wiley & Sons Ltd.     

Children's perspectives on their economic activity—Diversity,motivations and parental awareness

This research investigates how children from an affluent city in the UK exercise agency to construct their economic worlds. A survey (n = 484) showed that children (ages 10 to 14 years) conduct a range of monetary and non‐monetary activities. A second study (n = 83) with diaries, self‐documentation, and parental questionnaires, showed that children's economic activity involves individual and social motivations, occurs in formal and informal contexts, and is often self‐regulated. Parents acknowledge children's monetary activities and neglect non‐monetary activities. The results suggest that children's agency unfolds in diverse economic activities shaped by contextual factors and interactions with peers and parents, thereby supporting a relational view of children's agency.