ERN: Other Macroeconomics: Employment最新文献

{"title":"Firms' Demand for Liquidity and Employment Decisions: Evidence from Australia","authors":"Sasan Bakhtiari, L. Magnani","doi":"10.2139/ssrn.3421792","DOIUrl":"https://doi.org/10.2139/ssrn.3421792","url":null,"abstract":"Drawing on Holmstrom & Tirole (2011) and Ellul & Pagano (2015) we explore the impact of firm's demand for liquidity on employment decisions. The theory is based on a firm's trade-off between liquid and illiquid investments in labor. Solvency and liquidity concerns may lower a firm's investment in less flexible workers, such as permanent and highly specialized workers. We test the impact of firms' liquidity on employment differentiated by casual and part-time status using Australian firm level data. We find support for the hypothesis that firms' balance sheets impact employment decisions and they do so differently for different types of employment. This is especially true if the firm is small or financially constrained. Macro conditions that lead to widespread financial stress also exhibit a similar impact. Our results suggest a possible role for employment policies that target firms directly besides conventional stimulus.","PeriodicalId":125977,"journal":{"name":"ERN: Other Macroeconomics: Employment","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-07-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131314344","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Are Marriage-Related Taxes and Social Security Benefits Holding Back Female Labor Supply?","authors":"M. Borella, Mariacristina De Nardi, Fang Yang","doi":"10.3386/W26097","DOIUrl":"https://doi.org/10.3386/W26097","url":null,"abstract":"In the United States, both taxes and old age Social Security benefits depend on one's marital status and tend to discourage the labor supply of the secondary earner. To what extent are these provisions holding back female labor supply? We estimate a rich life cycle model of labor supply and savings for couples and singles using the method of simulated moments (MSM) on the 1945 and 1955 birth-year cohorts and use it to evaluate what would happen without these provisions. Our model matches well the life cycle profiles of labor market participation, hours, and savings for married and single people and generates plausible elasticities of labor supply. Eliminating marriage-related provisions drastically increases the participation of married women over their entire life cycle, reduces the participation of married men after age 60, and increases the savings of couples in both cohorts, including the later one, which has similar participation to that of more recent generations. If the resulting government surplus were used to lower income taxation, there would be large welfare gains for the vast majority of the population.","PeriodicalId":125977,"journal":{"name":"ERN: Other Macroeconomics: Employment","volume":"21 1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116638248","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Delayed Collection of Unemployment Insurance in Recessions","authors":"Zoe Xie","doi":"10.29338/wp2019-14","DOIUrl":"https://doi.org/10.29338/wp2019-14","url":null,"abstract":"Contrary to assumptions in the unemployment insurance (UI) literature, this paper argues that unemployed workers do not always lose uncollected UI benefits when they start a new job. Instead, they may postpone the collection of leftover benefits to future unemployment spells. Further, using cross-time and cross-state variations in UI policies, the paper finds empirical evidence that allowing unemployed workers to delay the collection of benefits increases their incentives to find a job during recessions when wages are low, job separation rates are high, and UI benefits are extended. I quantify the effects of the policy of allowing delayed collection of benefits on aggregate unemployment by introducing endogenous search effort, benefit eligibility, and wage indexed benefits into a standard search-and-matching framework. The model demonstrates how the policy increases the future value of employment even though more generous UI benefits in general reduce the net value of employment. Using a calibrated model,I find that allowing delayed benefit collection raises the proportion of unemployed workers receiving benefits and reduces the unemployment rate during 2009–2012.","PeriodicalId":125977,"journal":{"name":"ERN: Other Macroeconomics: Employment","volume":"37 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123917663","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Increasing Earnings Inequality and the Gender Pay Gap in Canada: Prospects for Convergence","authors":"N. Fortin","doi":"10.1111/caje.12386","DOIUrl":"https://doi.org/10.1111/caje.12386","url":null,"abstract":"This paper retraces the evolution of Canadian women's labour force participation and of the gender earnings ratio across the generations to understand better the prospects for gender convergence in pay. Using data from the public use Labour Force Surveys (LFS) and administrative annual earnings data from the Longitudinal Worker Files (LWF), the paper assesses the role of increasing top earnings inequality in the persistence of the gender pay gap. Having identified a growing role for the under-representation of women among top earners, the paper then performs an evaluation and critical analysis of existing gender equality policies, centred on horizontal occupational gender segregation, and discusses alternative policies for the future.","PeriodicalId":125977,"journal":{"name":"ERN: Other Macroeconomics: Employment","volume":"32 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116786979","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Pay Transparency and the Gender Gap","authors":"Michael Baker, Yosh Halberstam, Kory Kroft, Alexandre Mas, Derek Messacar","doi":"10.3386/W25834","DOIUrl":"https://doi.org/10.3386/W25834","url":null,"abstract":"We examine the impact of public sector salary disclosure laws on university faculty salaries in Canada. The laws, which enable public access to the salaries of individual faculty if they exceed specified thresholds, were introduced in different provinces at different times. Using detailed administrative data covering the majority of faculty in Canada, and an event-study research design that exploits within-province variation in exposure to the policy across institutions and academic departments, we find robust evidence that the laws reduced the gender pay gap between men and women by approximately 20–40 percent. (JEL I23, J16, J31, J44, K31)","PeriodicalId":125977,"journal":{"name":"ERN: Other Macroeconomics: Employment","volume":"357 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123547353","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"J.M. Keynes’s Revolution in the General Theory in Macroeconomics is Based on a Foundation of His Inexact Measurement Approach in Parts II and V of the a Treatise on Probability","authors":"M. E. Brady","doi":"10.2139/ssrn.3371740","DOIUrl":"https://doi.org/10.2139/ssrn.3371740","url":null,"abstract":"Keynes’s revolution in macroeconomic theory is based on his application in the General Theory of his Inexact measurement approach from the A Treatise on Probability. This involves the use of interval valued probability and interval valued outcomes. Keynes called this approach approximation. It entails nonadditive (sub and super) probabilities, imprecise probabilities, indefinite and indeterminate probabilities,to which Keynes added interval valued outcomes in the General Theory. Except in special cases, Keynes rejected both Exact measurement,which involved the use of precise, definite, determinate, additive, linear probabilities, which imply that the decision maker knows an exact probability distribution.<br><br>Keynes developed Boole's original logical theory of probability by developing an alternative method of solving Boole’s problems. Like Boole, Keynes’s approach involved solving systems of equations, the constraints, using linear and non linear, mathematical programming techniques. Keynes uses special aggregation assumptions in order to use and present an exact mathematical analysis in his D-Z model of chapter 20, which is the foundation for his IS-LM(LP) model of chapter 21. The D-Z model deals with expectations and uncertainty that results in a specific Y value. That Y value is an actual value that is certain, quantitative, and deterministic. Keynes then combines Y with r, the nominal, long run rate of interest, to derive the IS and LM(LP) curves on pp.298-299 of the General Theory.<br><br>The General Theory has, unfortunately, attracted two completely different types of interpreters, both of which conflict directly with Keynes’s use of inexact measurement. <br><br>The first type of interpreter essentially follows the views of Hicks(1937), Tinbergen(1940), Modigliani(1944) and Klein(1947), for example, in asserting that Keynes's approach in the General Theory was, in fact, a purely verbal, literary, prose approach, with no mathematical or statistical foundation whatsoever, that needed to be reworked in order to present it in mathematical form. <br><br>The second approach follows the Joan Robinson and G LS Shackle nihilist approach in asserting that Keynes argued that no mathematical, technical, analytic or quantitative approaches involving mathematical modeling or equations could ever be possible in macroeconomics because of the existence of what they called unknowledge or fundamental uncertainty, which meant that no decision maker has any knowledge whatsoever of anything that can occur in the future, be it the near future or the distant future, be it one day in the future, one month in the future, one year in the future, five years in the future, ten years in the future, twenty years in the future, etc. The best that could be done was to assume that decision makers could sometimes make use of a weak, ordinal probability approach. Both approaches have no support whatsoever in anything actually written by Keynes in his lifetime. The nihili","PeriodicalId":125977,"journal":{"name":"ERN: Other Macroeconomics: Employment","volume":"29 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-04-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127761403","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Prospects for Decent Work in Services","authors":"Sameer Khatiwada, J. P. Flaminiano","doi":"10.2139/ssrn.3470041","DOIUrl":"https://doi.org/10.2139/ssrn.3470041","url":null,"abstract":"We examine how the services sector could provide decent and gainful employment in developing Asia. Using living wages as a reference point, we report that a significant portion of the workforce in developing Asian economies, the majority of which are employed in the agricultural sector, are not living wage earners. On the other hand, manufacturing, and to a larger extent, services, are able to provide their workforce with good jobs. Economies that are more successful at moving workers from low- to high-productivity sectors have done better on job creation accompanied with improved productivity, higher wages, and large reductions in poverty. Recent developments of information and communication technology industries, as in the case of India and the Philippines, is a striking example of how developing economies can open up business opportunities through global outsourcing of tradable labor. We highlight the importance of improving human capital through education and upskilling, as well as physical and digital infrastructure, to address the large supply of low-productivity and informal sector workers in developing Asia, and to provide new and gainful employment opportunities.","PeriodicalId":125977,"journal":{"name":"ERN: Other Macroeconomics: Employment","volume":"8 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-04-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132608520","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Do Greasy Wheels Curb Inequality?","authors":"Cynthia L. Doniger","doi":"10.17016/FEDS.2019.021","DOIUrl":"https://doi.org/10.17016/FEDS.2019.021","url":null,"abstract":"I document a disparity in the cyclicality of the allocative wage-the labor costs considered when deciding to form or dissolve an employment relationship-across levels of educational attainment. Specifically, workers with a bachelors degree or more exhibit an allocative wage that is highly pro-cyclical while high school dropouts exhibit no statistically discernible cyclical pattern. I also assess the response to monetary policy shocks of both employment and allocative wages across education groups. The less educated respond to monetary policy shocks on the employment margin while the more educated respond on the wage margin. An important takeaway is that conventional monetary policy easing reduces employment inequality but increases wage inequality. I embed these findings in a New Keynesian framework that includes price and heterogeneous wage rigidity and show that heterogeneity results in welfare losses due to fluctuations that exceed those of the output-gap and p rice-level equivalent representative agent economy. The excess welfare loss is borne by the least educated.","PeriodicalId":125977,"journal":{"name":"ERN: Other Macroeconomics: Employment","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-03-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130394688","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"More Work to Do? Taking Stock of Latin American Labor Markets","authors":"Antonio C. David, Frederic J. Lambert, F. Toscani","doi":"10.5089/9781498302784.001","DOIUrl":"https://doi.org/10.5089/9781498302784.001","url":null,"abstract":"We analyze the performance of labor markets in Latin America since the late 1990s. Strong GDP growth during the commodity boom period led to important gains in employment and a fall in the unemployment rate as labor demand outpaced an increasing labor supply. We emphasize the role of informality in the dynamics of labor markets in Latin America. A re-examination of Okun's law shows that informality dampens changes in unemployment accompanying output fluctuations. Moreover, we present some evidence that countries with higher redundancy costs and cumbersome dismissal regulations, exhibit 'excess' informality over and above what would be expected based on their income and educational levels. Labor market reforms could thus contribute to reducing informality and increasing the responsiveness of labor markets to output growth. However, looking at selected case studies of reforms using the synthetic control method, we find mixed results in terms of labor market outcomes.","PeriodicalId":125977,"journal":{"name":"ERN: Other Macroeconomics: Employment","volume":"3 2 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123427308","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"On the Consequences of Eliminating Capital Tax Differentials","authors":"Ctirad Slav́ık, Hakkı Yazıcı","doi":"10.1111/caje.12370","DOIUrl":"https://doi.org/10.1111/caje.12370","url":null,"abstract":"In the United States structure and equipment capital are eectively taxed at dierent rates. Recently, President Obama joined the group of policy makers and economists who propose to eliminate these dierentials. This paper analyzes the consequences of such a reform using an incomplete markets model with equipment-skill complementarity. We nd that the reform increases average welfare by 0.1%. Importantly, we nd that the reform does not involve the usual eciency vs. equality trade-o: it improves both. JEL classication: E62, H21.","PeriodicalId":125977,"journal":{"name":"ERN: Other Macroeconomics: Employment","volume":"160 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121789300","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}