Found 401 article(s) in category 'Jobs and Unemployment'

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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Work Values in the United States: Age, Period, and Generational Differences

Work Values in the United States: Age, Period, and Generational Differences. Peter Marsden, March 13, 2019, Paper, “This article examines how processes of aging, generational shifts, and changes over historical time periods shape differences in work values in the United States. Our analyses of data from the General Social Survey and the International Social Survey Program show that changes over historical time periods are most consistently responsible for differences in work values. In particular, during recent periods, Americans tend to place greater importance on jobs that provide security, high income, and opportunities for advancement; this is consistent with a narrative that these job rewards have become more difficult to attain recently and are thus more problematic for workers. Some differences in work values are also attributable to aging or life course processes, especially the greater importance placed on high income during the mid-life years when family responsibilities are generally greatest. By contrast, we find few differences in work values among members of different generations or cohorts. We also find that people from less advantaged social origins and those with greater labor market resources are more likely to value economic rewards.Link

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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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Are ISS Recommendations Informative? Evidence from Assessments of Compensation Practices

Are ISS Recommendations Informative? Evidence from Assessments of Compensation Practices. Susanna Gallani, February 2019, Paper, “Using detailed information on Institutional Shareholder Services (ISS) assessments of firms’ compensation practices, we examine whether these assessments identify poor compensation practices as measured by subsequent performance. While prior research provides consistent evidence of an association between shareholder voting outcomes and ISS recommendations, the evidence is mixed over whether their recommendations convey information about poor compensation policies. We find that ISS “Against” recommendations are associated with worse future accounting performance, consistent with ISS being able to detect suboptimal compensation packages. However, workload compression has an effect, as we find that the relation between assessments and future performance is stronger during off season (for firms with non-December fiscal year end).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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