Found 296 article(s) for author 'Jobs and Unemployment'

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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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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From Immigrants to Robots: The Changing Locus of Substitutes for Workers

From Immigrants to Robots: The Changing Locus of Substitutes for Workers. George Borjas, Richard Freeman, January 2019, Paper, “Increased use of robots has roused concern about how robots and other new technologies change the world of work. Using numbers of robots shipped to primarily manufacturing industries as a supply shock to an industry labor market, we estimate that an additional robot reduces employment and wages in an industry by roughly as much as an additional 2 to 3 workers and by 3 to 4 workers in particular groups, which far exceed estimated effects of an additional immigrant on employment and wages. While the growth of robots in the 1996-2016 period of our data was too modest to be a major determinant of wages and employment, the estimated coefficients suggest that continued exponential growth of robots could disrupt job markets in the foreseeable future and thus merit attention from labor analysts.Link

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The Caring Company: How Employers Can Cut Costs And Boost Productivity By Helping Employees Manage Caregiving Needs

The Caring Company: How Employers Can Cut Costs And Boost Productivity By Helping Employees Manage Caregiving Needs. Joseph Fuller, January 16, 2019, “By investing in a care culture, American companies can prepare themselves for the looming care crisis. The economics of care are misaligned in most companies. Employees don’t get the support they need for their caregiving responsibilities and employers pay the hidden costs, including turnover, rehiring, presenteeism, and absenteeism.Link

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Labor Market Shocks and the Demand for Trade Protection: Evidence from Online Surveys

Labor Market Shocks and the Demand for Trade Protection: Evidence from Online Surveys. Rafael Di Tella, Dani Rodrik, January 16, 2019, Paper, “We study preferences for government action in response to layoffs resulting from different types of labor-market shocks. We consider the following shocks: technological change, a demand shift, bad management, and three kinds of international outsourcing. Respondents are given a choice among no government action, compensatory transfers, and trade protection. In response to these shocks, support for government intervention generally rises sharply and is heavily biased towards trade protection. Demand for import protection increases significantly in all cases, except for the “bad management” shock. Trade shocks generate more demand for protectionism, and among trade shocks, outsourcing to a developing country elicits greater demand for protectionism than outsourcing to a developed country. The “bad management” shock is the only scenario that induces a desired increase in compensatory transfers; it is also the only case without a significant increase in desired trade protection. Effects appear to be heterogeneous across subgroups with different political preferences and education. In particular, Trump supporters are more protectionist than Clinton supporters. But preferences seem malleable and easy to manipulate: Clinton supporters primed with trade shocks are as protectionist as baseline Trump voters.Link

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The Left’s Choice

The Left’s Choice. Dani Rodrik, January 8, 2019, Opinion, “In the face of resurgent right-wing populism, the left’s relative weakness partly reflects the decline of unions and organized labor groups, which have historically formed the backbone of leftist and socialist movements. But four decades of ideological abdication has also played an important role.Link

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The Trump Tax Cuts Boosted Growth and Jobs, but at What Cost?

The Trump Tax Cuts Boosted Growth and Jobs, but at What Cost? Jason Furman, December 18, 2018, Opinion, “It has been nearly a year since President Trump signed sweeping tax changes into law. The macroeconomic data already rule out some of the more extravagant claims about immediate jumps in wages and capital. But the more serious debate over the tax cuts’ long-run impact is still far from decided. Here’s what we do know..Link

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