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

Stickiness on digital labour platforms and ethnic networks

Stickiness on digital labour platforms and ethnic networks. William Kerr, Christopher Stanton, August 27, 2018, Opinion, “Online labour platforms such as Upwork facilitate interactions between employers and employees for a wide range of tasks. This column provides some first evidence on flows and substitution across countries on these new digital platforms. In contrast to classic trade patterns in products, contract placements via Upwork are frequently cross-border and North-South in nature. The findings also suggest that employers leave the platform in response to wage bid increases rather than substituting away from their target search location. Diaspora networks, in particular the Indian diaspora, still matter for how contracts are placed at the global level.Link

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Presidential Address: Pension Policy and the Financial System

Presidential Address: Pension Policy and the Financial System. David Scharfstein, August 24, 2018, Paper, “In this paper, I examine the effect of pension policy on the structure of financial systems around the world. In particular, I explore the hypothesis that policies that promote pension savings also promote the development of capital markets. I present a model that endogenizes the extent to which savings are intermediated through banks or capital markets, and derive implications for corporate finance, household finance, banking, and the size of the financial sector. I then present a number of facts that are broadly consistent with the theory and examine a variety of alternative explanations of my findings.Link

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Looking for Alternatives: Pension Investments around the World, 2008 to 2017

Looking for Alternatives: Pension Investments around the World, 2008 to 2017. Victoria Ivashina, Josh Lerner, August 24, 2018, Paper, “Using hitherto-unexplored data, this paper provides a first look into pension funds’ allocations to alternative asset classes around the world. On average, in the ten years following the financial crisis, allocations to private equity and real estate nearly doubled, representing about 20% of assets under management in 2017 for pensions in many of the largest economies. Our sample indicates a $1.8 trillion shift to alternatives between 2008 and 2017. This phenomenon equally affected public and private pension funds, as well as funds of all sizes. This shift does not appear to be a consequence of mechanical factors such as increase in drawn capital or expected returns, but rather reflects a proactive portfolio allocation response to perceived investment opportunities. The extent of the shift to Alts is more pronounced for nations with lower long-term interest rate environment.Link

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Human-Capital Externalities in China

Human-Capital Externalities in China. Edward Glaeser, August 2018, Paper, “This paper provides evidences of heterogeneous human-capital externality using CHIP 2002, 2007 and 2013 data from urban China. After instrumenting city-level education using the number of relocated university departments across cities in the 1950s, one year more city-level education increases individual hourly wage by 22.0 percent, more than twice the OLS estimate. Human-capital externality is found to be greater for all groups of urban residents in the instrumental variable estimation.Link

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Identifiable Service Provider Effect: When Guilt Undermines Consumer Willingness To Buy Time

Identifiable Service Provider Effect: When Guilt Undermines Consumer Willingness To Buy Time. Ashley Whillans, 2018, Paper, “In 2011, Time Magazine rated the sharing economy as one of the top 10 ideas that would change the world. Today, the possibility of outsourcing just about anything from grocery shopping, to dog walking, to standing in line for the latest iPhone is only a few clicks away. Companies such as TaskRabbit and Hello Alfred enable customers to outsource nearly any household chore by connecting people who need tasks done with people who have time to do them. With the growing popularity of the sharing economy, it has never been easier for consumers to outsource their most dreaded tasks to others. Yet, despite the rise of the sharing economy, very little is known about when individuals decide to ‘buy time.’Link

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Why a Universal Basic Income Is Better Than Subsidies of Low-Wage Work

Why a Universal Basic Income Is Better Than Subsidies of Low-Wage Work. Maximilian Kasy, August 5, 2018, Paper, “In this paper, we compare subsidies of low-wage work, such as the Earned Income Tax Credit (EITC), to unconditional cash transfers—or what is commonly referred to as a universal basic income (UBI).2 The EITC helps families with low earnings but does not provide any support to those without earnings. It is an extremely popular policy because it redistributes income to low-earning families while encouraging work. In contrast, a UBI provides unconditional support to everyone and is often combined with a progressive tax on earnings.Link

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Journal of Participation and Employee Ownership (JPEO) in the changing world of participative work practices and pay

Journal of Participation and Employee Ownership (JPEO) in the changing world of participative work practices and pay. Richard Freeman, 2018, Paper, “Work practices and modes of pay have changed in recent decades. The combination of an increasingly educated work force, new information and communication technologies, the influx of AI and big data into business practices from production and sales to human resources, the increased importance of teamwork and the growth of non-standard work arrangements which blur the distinction between labor contracts and sales contracts, has combined with globalization of production to create a wide diversity in the way firms, workers, unions and governments interact within organizations and in the broader labor market.Link

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The real reason you’re not getting a pay raise

The real reason you’re not getting a pay raise. Jason Furman, July 31, 2018, Opinion, “Wages are growing much more slowly than the last time we had sustained low unemployment rates, the late 1990s. This is the notorious “wage puzzle,” a topic that has been the subject of much speculation by everyone from Federal Reserve Chair Jay Powell to pretty much every economist I follow on Twitter.Link

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Potential vs. realized savings under automatic enrollment

Potential vs. realized savings under automatic enrollment. John Beshears, David Laibson, Brigitte Madrian, July 2018, Paper, “Previous research has documented the powerful impact that automatic enrollment has on retirement savings outcomes. When a savings plan’s default—the option that is implemented on behalf of any employees that do not actively elect an alternative option—is changed from not participating in the plan to contributing a positive fraction of pay to the plan, the proportion of employees contributing to the plan increases dramatically, and many employees who would otherwise have not participated begin to accumulate plan balances (Madrian and Shea, 2001; Choi, et al., 2002 and 2004; Beshears, et al., 2008).Link

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Economy is fragile, recession could occur, Harvard professor warns

Economy is fragile, recession could occur, Harvard professor warns. Martin Feldstein, July 18, 2018, Video, “Renowned Harvard professor and economist Martin Feldstein said the Federal Reserve would not be prepared if a recession were to occur soon. Feldstein told FOX Business Opens a New Window. ’ Maria Bartiromo during an interview on “Mornings with Maria Opens a New Window. ” on Wednesday that the economy is in good shape because of low unemployment Opens a New Window. and inflation, but despite that, it is still very fragile.Link

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