Found 71 article(s) for author 'Jobs and Unemployment'

Addressing long-term unemployment in the aftermath of the Great Recession

Addressing long-term unemployment in the aftermath of the Great Recession. Lawrence Katz, December 3, 2014, Paper. “In the aftermath of the Great Recession, there remains a large number of long-term unemployed across countries. This column argues that policies targeting the long-term unemployed, if effective, may have substantial benefits for the aggregate labour markets. However, evidence of the effectiveness of active labour market policies varies across policies and populations…” Link

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Private Equity, Jobs, and Productivity

Private Equity, Jobs, and Productivity. Josh Lerner, 2014, Paper. “Private equity critics claim that leveraged buyouts bring huge job losses and few gains in operating performance. To evaluate these claims, we construct and analyze a new dataset that covers US buyouts from 1980 to 2005. We track 3,200 target firms and their 150,000 establishments before and after acquisition, comparing to controls defined by industry, size, age, and prior growth. Buyouts lead to modest net job losses but large increases in gross job creation and destruction. Buyouts also bring TFP gains at target firms...” May require purchase or user account. Link

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Group Learning, Wage Dispersion, and Nonstationary Offers

Group Learning, Wage Dispersion, and Nonstationary. Julio J. Rotemberg, October 15, 2014, Paper. “It is shown that differences in beliefs can be an important source of inequality even if everyone is equally productive and people are reasonably sophisticated in the way that they learn about their economic environment. As is standard in the search literature, people believe that the wage offers they obtain while searching for a job are drawn from a stationary distribution. They then base their job acceptance decision on the average wage and the average unemployment duration…”  Link Verified October 29, 2014

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Average American Wages Moving In ‘Wrong Direction’

Average American Wages Moving In ‘Wrong Direction’. Michael Porter, October 7, 2014, Audio.  “Morning Edition Host Bob Seay interviews Professor Michael Porter from Harvard Business School about income inequality.  Porter completed his annual survey of HBS Alumni who are running businesses around the world. Porter says large businesses are doing well, but American workers are going “nowhere”…” Link

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Why Public Investment is really a free lunch

Why Public Investment is really a free lunch. Lawrence Summers, October 7, 2014, Opinion. “The IMF finds that a dollar of spending increases output by nearly $3. The International Monetary Fund has long been a stalwart advocate of austerity as the route out of financial crisis. Fiscal consolidation – a euphemism for cuts to government spending – is a staple of the fund’s rescue programmes. A year ago the IMF was suggesting that the US had a fiscal gap of as much as 10 per cent of gross domestic product. All of this makes the IMF’s recently published World Economic Outlook a remarkable and important document…” Link

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Austerity in 2009-2013

Austerity in 2009-2013, Alberto Alesina, September 29, 2014, Paper, The deficit reduction policies (often referred to as fiscal “austerity”) followed by several OECD countries in 2009-13 were motivated, especially in the European Union, by the bond market reaction to large debts and deficits. They were certainly not meant to cool down overheating economies. On the contrary, several countries had to adopt deficit reduction policies when recessions were not quite over and credit crunches were still retarding the recovery. The aim of this paper is to provide an empirical measure of the effects of these deficit reduction policies on output growth. The summer of 2014, when we write, is probably the earliest time when one can begin to assess the effects of these policiesLink

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The Value of Postsecondary Credentials in the Labor Market: An Experimental Study

The Value of Postsecondary Credentials in the Labor Market: An Experimental Study. Claudia Golden, Lawrence Katz, September 2014. Paper. “We study employers’ perceptions of postsecondary degrees using a field experiment. We randomly assign the sector and selectivity of institution to fictitious resumes and send them to real vacancy postings on a large online job board. According to our results, a bachelor’s degree in business from a for-profit “online” institution is 22 percent less likely to receive a callback than a similar degree from a non-selective public institution…” Link

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Culture and Institutions

Culture and Institutions. Alberto Alesina, September 1, 2014, Paper. “A growing body of empirical work measuring different types of cultural traits has shown that culture matters for a variety of economic outcomes. This paper focuses on one specific aspect of the relevance of culture: its relationship to institutions. We review work with a theoretical, empirical, and historical bent to assess the presence of a two-way causal effect between culture and institutions…” Link

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Unhappy Cities

Unhappy Cities. Edward Glaeser, July 2014, Paper. “There are persistent differences in self-reported subjective well-being across U.S. metropolitan areas, and residents of declining cities appear less happy than other Americans. Newer residents of these cities appear to be as unhappy as longer term residents, and yet some people continue to move to these areas. While the historical data on happiness are limited, the available facts suggest that cities that are now declining were also unhappy in their more prosperous past. One interpretation of these facts is that individuals do not…” May require purchase or user account. Link Verified October 11, 2014

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Long-Term Unemployment and the Great Recession: The Role of Composition, Duration Dependence, and Non-Participation

Long-Term Unemployment and the Great Recession: The Role of Composition, Duration Dependence, and Non-Participation. Lawrence Katz, June 2014, Paper. “We explore the extent to which composition, duration dependence, and labor force non-participation can account for the sharp increase in the incidence of long-term unemployment (LTU) during the Great Recession. We …first show that compositional shifts in demographics, occupation, industry, region, and the reason for unemployment jointly account for very little of the observed increase in LTU…” Link

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