Found 305 article(s) for author 'Jobs and Unemployment'

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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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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Economic Strategy for Higher Wages and Expanded Labor Participation

Economic Strategy for Higher Wages and Expanded Labor Participation. Jason Furman, Martin Feldstein, 2019, Paper, “We propose two alternative policy options for promoting increased earnings and employment of low-income households: expanding the Earned Income Tax Credit (EITC) among childless workers, and implementing a wage subsidy for low-income workers that would be administered through employers. The EITC is based on household income and administered as a tax credit, while the subsidy based on hourly wages would require no filing or administrative effort by workers. We compare and contrast the costs and benefits of these two approaches to raising wages. Our two policy options are meant as part of a response to the sluggish income growth at the bottom of the distribution over the past several decades.Link

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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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