Found 326 article(s) in category 'Q2: Jobs?'

Birds of a Feather: Estimating the Value of Statistical Life from Dual-Earner Families

Birds of a Feather: Estimating the Value of Statistical Life from Dual-Earner Families. Joseph Aldy, March 2019, Paper, “Economists have long employed hedonic wage analysis to estimate income-fatality risk trade-offs, but some scholars have raised concerns about systematic measurement error and omitted variable bias in the empirical applications of this model. Recent studies have employed panel methods to remove time-invariant individual-specific characteristics that could induce bias in estimation. In an analogous manner, this paper proposes to exploit assortative matching on risk attitudes within married couples to control for worker characteristics that are unobserved to the econometrician. I develop and implement a modified hedonic wage estimator based on a within-coupled differenced wage equation for full-time working married couples with the Current Population Survey Merged Outgoing Rotation Group over 1996-2002. The key assumption builds on the findings in the assortative matching literature that individuals often marry those who have common traits across many dimensions, including those that may influence worker wages and are correlated with observed occupational fatality risks.Link

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Ricardo Hausmann on Venezuela, Inequality in Productivity, and Policy Lessons for International Development

Ricardo Hausmann on Venezuela, Inequality in Productivity, and Policy Lessons for International Development March 2019. GrowthPolicy’s Devjani Roy interviewed Ricardo Hausmann, Professor of the Practice of Economic Development at Harvard Kennedy School and Director of the Center for International Development at Harvard University, on Venezuela, inequality in productivity, and policy lessons for international development. | […]

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Tarun Khanna on the jobs of the future, how entrepreneurs can build trust, and institutional voids

Tarun Khanna on the jobs of the future, how entrepreneurs can build trust, and institutional voids March 2019. GrowthPolicy’s Devjani Roy interviewed Tarun Khanna, Jorge Paulo Lemann Professor at Harvard Business School and Director of the Lakshmi Mittal and Family South Asia Institute at Harvard University on the jobs of the future, how entrepreneurs can […]

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Risky Retirement Business

Risky Retirement Business. Carmen Reinhart, February 26, 2019, Opinion, “Regardless of whether yields in advanced economies rise, fall, or stay the same, core demographic trends are unlikely to change in the coming years, implying that pension costs will continue to balloon. Is there an asset class that can provide yield-hungry pension-fund managers what they’re looking for?Link

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Jeremy Stein on income inequality, monetary policy and the bond market, and preventing the next financial crisis

Jeremy Stein on income inequality, monetary policy and the bond market, and preventing the next financial crisis February 2019. GrowthPolicy’s Devjani Roy interviewed Jeremy Stein, the Moise Y. Safra Professor of Economics and Chairman of the Department of Economics at Harvard University, on income inequality, monetary policy and the bond market, and preventing the next […]

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The Good Jobs Challenge

The Good Jobs Challenge. Dani Rodrik, February 7, 2019, Opinion, “Every economy in the world today is divided between an advanced segment, typically globally integrated, employing a minority of the labor force, and a low-productivity segment that absorbs the bulk of the workforce, often at low wages and under poor conditions. How should policymakers address this dualism?Link

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From Dollars to Sense: Placing a Monetary Value on Non-Cash Compensation Encourages Employees to Value Time over Money

From Dollars to Sense: Placing a Monetary Value on Non-Cash Compensation Encourages Employees to Value Time over Money.  Ashley Whillans, 2019, Paper, “When deciding where to work, employees may focus too much on salary and not enough on non cash benefits such as paid time-off, potentially undermining their long-term happiness. We propose a simple solution to encourage employees to recognize the value of non-cash benefits: list the financial value of non-cash compensation. Results from one archival data set (n = 42,271) and eight studies (n = 3,190) provide evidence for these ideas. First, as expected, employees who receive non-cash compensation are happier than employees who do not. Yet, prospective employees underestimate the happiness benefit of non-cash benefits. Second, and most critically, prospective employees are more likely to choose jobs with greater non-cash benefits and lower salaries when the cash value of these non-cash benefits are listed.Link

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The Wage Impact of the Marielitos: The Role of Race

The Wage Impact of the Marielitos: The Role of Race. George Borjas, January 30, 2019, Paper, “The author’s 2017 reappraisal of the impact of the Mariel supply shock revealed that the wage of low-skill workers declined in post-Mariel Miami. Clemens and Hunt (2019) assert that a data quirk in the March CPS—specifically, a substantial increase in the black share of Miami’s low-skill workforce in the period—implies that those wage trends do not correctly measure the impact of the Marielitos. Because blacks earn less than whites earn, the increased black share would spuriously reduce the average low-skill wage in Miami. The author examines the sensitivity of the evidence to the change in the racial composition of the sample. The Clemens and Hunt assertion is demonstrably false. The timing of the post-Mariel decline in Miami’s wage does not coincide with the increase in the black share. And sensible adjustments for racial composition do not change the finding that Miami’s low-skill wage fell after 1980.Link

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Use Your Money to Buy Happier Time

Use Your Money to Buy Happier Time. Ashley Whillans, January 29, 2019, Audio, “Ashley Whillans, professor at Harvard Business School, researches time-money trade-offs. She argues more people would be happier if they spent more of their hard-earned money to buy themselves out of negative experiences. Her research shows that paying to outsource housework or to enjoy a shorter commute can have an outsized impact on happiness and relationships. Whillans is the author of the HBR article “Time for Happiness.”Link

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