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wig

English translation: wedge

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Dutch term or phrase:wig
English translation:wedge
Entered by: Mary McCusker
Options:
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10:18 Aug 19, 2002
Dutch to English translations [Non-PRO]
/ Economics/ finance
Dutch term or phrase: wig
Met name het afschaffen van de faciliteit voor bedrijfssparen verhoogt de wig en de replacement rate
Mary McCusker
Local time: 18:46
Wedge
Explanation:
Wdge, eg.

"Moreover, a strengthening of the position of workers, caused for instance by an increase in the replacement rate, will shift the curve up, leading to higher unemployment. Increases in the wedge between the product wage and the consumption wage also contributes to higher unemployment if it increases the replacement rate."

ref. http://www.uni-kiel.de/ifw/projects/eugrowth.htm


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Note added at 2002-08-19 10:23:43 (GMT)
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That should be \'wedge\', and not wdge :-)

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Note added at 2002-08-19 10:26:00 (GMT)
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Another example:

\"5.1.11 Social Insurance is a component of the \"Tax Wedge\", the term often used to describe the difference between the take home pay of the employee after statutory deductions (income tax, Levies and Social Insurance contributions) and the gross cost to the employer of paying that wage. The term \"Marginal Tax Wedge\" describes the difference between the additional take home pay of the employee after statutory deductions and the additional gross cost to the employer of paying that additional wage. The term \"Average Tax Wedge\" describes the difference between the total take home pay of the employee after statutory deductions and the total gross cost to the employer of paying that total wage.\"

ref. http://194.125.84.133/dept/reports/xsocialins/chapter5.htm


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Note added at 2002-08-19 10:30:23 (GMT)
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And finally...

\"NETHERLANDS WIG
\"WEDGE\"

Term used in the Netherlands to refer to the difference between the wage costs incurred by the employer and the net pay received by the employee. The gap between wage costs and net pay consists of the difference between wage costs and gross pay (the social security contributions paid by the employer) plus the difference between gross and net pay (the pension contributions, social security contributions and taxes paid by the employee). The marginal wedge is the change in the wedge produced by a small (in principle, infinitely small) increase in gross pay, expressed as a percentage of this increase.

The wedge illustrates a number of disadvantages for both employers and employees brought about by the expansion of social security in the 1980s. The gap between gross and net pay has become continually greater. For employers, (gross) wage costs have risen. This prompts them to give preference to cheaper flexible forms of working (see flexibility ). For employees, the larger gap between gross and net pay means that in relative terms they are left with less of their gross pay as net pay. This can, among other things, reduce employees\' preparedness to move between jobs within the enterprise (a sudden increase in gross pay does not, given the wedge, immediately mean an increase of equal magnitude in net pay).\"

ref. http://www.eurofound.ie/emire/NETHERLANDS/WEDGE-NL.html


--------------------------------------------------
Note added at 2002-08-19 10:30:47 (GMT)
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All of which I hope helps!

:-)
Selected response from:

Adam Smith
United Kingdom
Local time: 23:46
Grading comment
Many thanks
4 KudoZ points were awarded for this answer

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Summary of answers provided
3 +3Wedge
Adam Smith


  

Answers


4 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +3
Wedge


Explanation:
Wdge, eg.

"Moreover, a strengthening of the position of workers, caused for instance by an increase in the replacement rate, will shift the curve up, leading to higher unemployment. Increases in the wedge between the product wage and the consumption wage also contributes to higher unemployment if it increases the replacement rate."

ref. http://www.uni-kiel.de/ifw/projects/eugrowth.htm


--------------------------------------------------
Note added at 2002-08-19 10:23:43 (GMT)
--------------------------------------------------

That should be \'wedge\', and not wdge :-)

--------------------------------------------------
Note added at 2002-08-19 10:26:00 (GMT)
--------------------------------------------------

Another example:

\"5.1.11 Social Insurance is a component of the \"Tax Wedge\", the term often used to describe the difference between the take home pay of the employee after statutory deductions (income tax, Levies and Social Insurance contributions) and the gross cost to the employer of paying that wage. The term \"Marginal Tax Wedge\" describes the difference between the additional take home pay of the employee after statutory deductions and the additional gross cost to the employer of paying that additional wage. The term \"Average Tax Wedge\" describes the difference between the total take home pay of the employee after statutory deductions and the total gross cost to the employer of paying that total wage.\"

ref. http://194.125.84.133/dept/reports/xsocialins/chapter5.htm


--------------------------------------------------
Note added at 2002-08-19 10:30:23 (GMT)
--------------------------------------------------

And finally...

\"NETHERLANDS WIG
\"WEDGE\"

Term used in the Netherlands to refer to the difference between the wage costs incurred by the employer and the net pay received by the employee. The gap between wage costs and net pay consists of the difference between wage costs and gross pay (the social security contributions paid by the employer) plus the difference between gross and net pay (the pension contributions, social security contributions and taxes paid by the employee). The marginal wedge is the change in the wedge produced by a small (in principle, infinitely small) increase in gross pay, expressed as a percentage of this increase.

The wedge illustrates a number of disadvantages for both employers and employees brought about by the expansion of social security in the 1980s. The gap between gross and net pay has become continually greater. For employers, (gross) wage costs have risen. This prompts them to give preference to cheaper flexible forms of working (see flexibility ). For employees, the larger gap between gross and net pay means that in relative terms they are left with less of their gross pay as net pay. This can, among other things, reduce employees\' preparedness to move between jobs within the enterprise (a sudden increase in gross pay does not, given the wedge, immediately mean an increase of equal magnitude in net pay).\"

ref. http://www.eurofound.ie/emire/NETHERLANDS/WEDGE-NL.html


--------------------------------------------------
Note added at 2002-08-19 10:30:47 (GMT)
--------------------------------------------------

All of which I hope helps!

:-)

Adam Smith
United Kingdom
Local time: 23:46
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 1145
Grading comment
Many thanks

Peer comments on this answer (and responses from the answerer)
agree  xxxjarry
37 mins
  -> Thank you

agree  Chris Hopley: Also made clear on http://www.cato.org/pubs/pas/pa302/md.html
48 mins
  -> Thank you

agree  joeky janusch
1 hr
  -> & Than you too
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