Seeking a Premier Economy: The Economic Effects of British Economic Reforms, 1980-2000
David Card, Richard Blundell, Richard B. Freeman
University of Chicago Press, Dec 1, 2007 - Business & Economics - 520 pages
In the 1980s and 1990s successive United Kingdom governments enacted a series of reforms to establish a more market-oriented economy, closer to the American model and further away from its Western European competitors. Today, the United Kingdom is one of the least regulated economies in the world, marked by transformed welfare and industrial relations systems and broad privatization. Virtually every industry and government program has been affected by the reforms, from hospitals and schools to labor unions and jobless benefit programs.
Seeking a Premier Economy focuses on the labor and product market reforms that directly impacted productivity, employment, and inequality. The questions asked are provocative: How did the United Kingdom manage to stave off falling earnings for lower paid workers? What role did the reforms play in rising income inequality and trends in poverty? At the same time, what reforms also contributed to reduced unemployment and the accelerated growth of real wages? The comparative microeconomic approach of this book yields the most credible evaluation possible, focusing on closely associated outcomes of particular reforms for individuals, firms, and sectors.
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The Role of Privatization
4 Characteristics of ForeignOwned Firms in British Manufacturing
5 The Surprising Retreat of Union Britain
6 Pension Reform and Economic Performance in Britain in the 1980s and 1990s
7 Labor Market Reforms and Changes in Wage Inequality in the United Kingdom and the United States
8 Whither Poverty in Great Britain and the United States? The Determinants of Changing Poverty and Whether Work Will Work
9 Mobility and Joblessness
10 Has InWork Benefit Reform Helped the Labor Market?
11 Active Labor Market Policies and the British New Deal for the Young Unemployed in Context
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aﬀect average Britain British capital changes coeﬃcients collective bargaining column competition costs council house countries David Card decline diﬀerent diﬀerential diﬃcult Disney distribution dummies earnings Economic eﬀect eﬃciency eﬀort EITC employees employment estimates families ﬁgure ﬁnancial performance ﬁnd ﬁndings ﬁrms ﬁrst Fiscal Studies ﬁve France Fraser Institute Germany higher household Housing Beneﬁt impact in-work beneﬁts incentives income increase individuals labor market labor productivity London measures ment minimum wage mobility National nomic nonunion occupational pension OECD oﬀered Oﬃce option ownership pension plans percent period personal pensions productiv productivity growth proﬁt proﬁt-sharing public sector reﬂect reforms regional regulation relative poverty Richard Blundell sample scheme share option shared compensation shows signiﬁcant signiﬁcantly single parents speciﬁc survey tion trends unemployed unemployment rates union United Kingdom variable wage inequality West Germany WFTC women workers workplaces
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