Found 433 article(s) in category 'Jobs and Unemployment'

The Spatial Mismatch Between Innovation and Joblessness

The Spatial Mismatch Between Innovation and Joblessness. Edward Glaeser, April 9, 2019, Paper, “American technological creativity is geographically concentrated in areas that are generally distant from the country’s most persistent pockets of joblessness. Should innovation policy attempt to engender more innovation is distressed areas? The primarily inventive parts of innovation policy, such as N.I.H. grants, can aid underperforming areas, possibly through health improvements that reduce the share of people on Disability Insurance, without any spatial reallocation. Moreover, since research funding is presumably already designed to maximize knowledge production, spatial reallocation may come at a considerable cost. The educational aspects of innovation policy, such as Pell Grants, work-study and Federal overhead reimbursement on grants, can reflect regional realities better and do more to encourage employment in distressed areas. Lifting the cap on H1B visas in poorer places can also enhance local human capital. Finally, there is particular scope for geographically targeted entrepreneurship policy, such as eliminating the barriers to new business formation near universities and in distressed places. Spatially targeted employment subsidies can also encourage more labor-intensive innovation in depressed areas.Link

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Equal Pay Day: closing the gender wage gap

Equal Pay Day: closing the gender wage gap. Hannah Riley Bowles, April 1, 2019, Audio, “Today is Equal Pay Day so we’re going to spend the hour looking at the gender pay gap. Studies show that women working full-time make around 82 cents for every $1 that their male colleagues make. For women of color that divide is even larger. This hour, we’ll discuss why men continue to be paid more than women in the workplace, what role career choices and sex discrimination play in the disparity, and what can be done to shrink the gap. We’ll also talk about legislation that recently passed in the U.S. House of Representatives that would ensure equal wages for men and women. Our guests are JOCELYN FRYE, a senior fellow at the Center for American Progress, and HANNAH RILEY BOWLES, senior lecturer at Harvard Kennedy School.Link

 

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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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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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