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Deregulating Teacher Labor Markets 放松对教师劳动力市场的管制
Macroeconomics: Employment Pub Date : 2022-06-01 DOI: 10.2139/ssrn.3449586
S. Burgess, E. Greaves, R. Murphy
{"title":"Deregulating Teacher Labor Markets","authors":"S. Burgess, E. Greaves, R. Murphy","doi":"10.2139/ssrn.3449586","DOIUrl":"https://doi.org/10.2139/ssrn.3449586","url":null,"abstract":"A common feature of public sector labor markets is the use of pay scales. This paper examines how the removal of pay scales impacts productivity, by exploiting a reform that compelled all schools in England to replace pay scales with school-designed performance related pay schemes. We find that schools in labor markets with better outside options for teachers saw relatively higher increases in teacher pay. Schools in these areas relatively increase their spending on teachers, have higher teacher retention and larger improvements in student tests scores. These effects are largest in schools with the high proportions of disadvantaged students. We conclude that the pay rigidities in the form of centralized pay schedules result in a misallocation of resources, by preventing such schools from retaining their teachers.","PeriodicalId":18085,"journal":{"name":"Macroeconomics: Employment","volume":"59 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88815688","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}
引用次数: 4
Trends in Commuting Time of European Workers: A Cross-Country Analysis 欧洲工人通勤时间的趋势:一项跨国分析
Macroeconomics: Employment Pub Date : 2021-12-01 DOI: 10.2139/ssrn.3525244
José Ignacio Giménez, J. Molina, J. Velilla
{"title":"Trends in Commuting Time of European Workers: A Cross-Country Analysis","authors":"José Ignacio Giménez, J. Molina, J. Velilla","doi":"10.2139/ssrn.3525244","DOIUrl":"https://doi.org/10.2139/ssrn.3525244","url":null,"abstract":"This paper examines the time spent commuting to/from work by workers in fifteen European countries, during the last three decades, with the aim of analyzing recent trends in commuting and the factors affecting commuting behavior in those countries. Using data from several waves of the European Working Conditions Survey, results show a significant gender gap in commuting time in Austria, Belgium, France, Germany, Italy, Ireland, Luxembourg, the Netherlands, and the UK, with male workers devoting more time to commuting than their female counterparts. We further explore the factors related to commuting time, documenting a level of heterogeneity in commuting behavior as certain determinants of commuting time differ across countries. By analyzing the evolution of commuting time in Europe in recent decades, and the factors associated with commuting time, our analysis may serve to guide future planning programs.","PeriodicalId":18085,"journal":{"name":"Macroeconomics: Employment","volume":"6 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80498454","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}
引用次数: 36
Labor Market Networks and Asset Returns 劳动力市场网络和资产回报
Macroeconomics: Employment Pub Date : 2021-10-27 DOI: 10.2139/ssrn.3951333
Turan G. Bali, Joon Woo Bae, Ali Sharifkhani, Xiaofei Zhao
{"title":"Labor Market Networks and Asset Returns","authors":"Turan G. Bali, Joon Woo Bae, Ali Sharifkhani, Xiaofei Zhao","doi":"10.2139/ssrn.3951333","DOIUrl":"https://doi.org/10.2139/ssrn.3951333","url":null,"abstract":"This paper proposes a measure of labor market connectivity based on the similarity in the composition of occupational knowledge characteristics across industries and provides evidence of return predictability in the cross-section of industries that are connected through the labor market. In long-short portfolios, an industry's return is strongly predicted by the past return of its labor-market-connected neighboring industries with an annualized return of up to 9%, which is not explained by established asset pricing models. The return predictability remains significant after controlling for the supply chain momentum as well as the industry lead-lag effect, and is concentrated in stocks with higher arbitrage costs and higher ownership of uninformed investors. We find similar predictive relations for the labor productivity, wages, employment, and profitability of labor connected industries. Our findings are consistent with positive spillover of productivity shocks among industries that are connected through the labor market. Informational frictions, costly arbitrage, and investors' limited attention magnify the delayed response of stock prices to the spillover of labor productivity shocks, which results in the observed return predictability.","PeriodicalId":18085,"journal":{"name":"Macroeconomics: Employment","volume":"13 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-10-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89139457","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}
引用次数: 0
Intergenerational Income Mobility and Economic Freedom as Positive Liberty 代际收入流动与积极自由的经济自由
Macroeconomics: Employment Pub Date : 2021-10-10 DOI: 10.2139/ssrn.3939909
Justin T. Callais, Vincent J. Geloso
{"title":"Intergenerational Income Mobility and Economic Freedom as Positive Liberty","authors":"Justin T. Callais, Vincent J. Geloso","doi":"10.2139/ssrn.3939909","DOIUrl":"https://doi.org/10.2139/ssrn.3939909","url":null,"abstract":"Economic freedom is often defined as a negative liberty – freedom from interference. This contrasts with positive liberty which is defined as freedom to do which refers to capacities. A well-established literature argues that income inequality reduces positive liberty by limiting the capacities of those at the bottom of the income ladder. This limitation generates the byproduct of a greater persistence of socio-economic status as measured by statistics of intergenerational income mobility. Thus, a case is made for policies that could reduce negative liberty (i.e. reductions in economic freedom) in order to enhance positive liberty. However, this argument neglects the issue of whether economic freedom generates positive liberty by increasing economic growth and the number of options available for people to escape from their initial condition. In this paper, we empirically evaluate – using new data on intergenerational income mobility – this question and argue that economic freedom does strongly relate to positive liberty. Even more interestingly, the (positive) effect of economic freedom is found to be stronger than the (negative) effect of inequality.","PeriodicalId":18085,"journal":{"name":"Macroeconomics: Employment","volume":"47 6 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-10-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89593840","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}
引用次数: 1
Gender Identity, Co-Working Spouses and Relative Income within Households 性别认同、共同工作的配偶和家庭内的相对收入
Macroeconomics: Employment Pub Date : 2021-10-01 DOI: 10.1257/app.20180542
N. Zinovyeva, Maryna Tverdostup
{"title":"Gender Identity, Co-Working Spouses and Relative Income within Households","authors":"N. Zinovyeva, Maryna Tverdostup","doi":"10.1257/app.20180542","DOIUrl":"https://doi.org/10.1257/app.20180542","url":null,"abstract":"Bertrand, Kamenica, and Pan (2015) document that in the United States there is a discontinuity to the right of 0.5 in the distribution of households according to the female share of total earnings, which they attribute to the existence of a gender identity norm. We provide an alternative explanation for this discontinuity. Using linked employer-employee data from Finland, we show that the discontinuity emerges as a result of equalization and convergence of earnings in coworking couples, and it is associated with an increase in the relative earnings of women, rather than a decrease as predicted by the norm. (JEL D12, J12, J16, J22, J31, Z13)","PeriodicalId":18085,"journal":{"name":"Macroeconomics: Employment","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73572472","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}
引用次数: 24
How Does Declining Worker Power Affect Investment Sensitivity to Minimum Wage? 劳动力下降如何影响投资对最低工资的敏感性?
Macroeconomics: Employment Pub Date : 2021-09-28 DOI: 10.2139/ssrn.3931948
Sreedhar T. Bharath, DuckKi Cho, M. Hertzel
{"title":"How Does Declining Worker Power Affect Investment Sensitivity to Minimum Wage?","authors":"Sreedhar T. Bharath, DuckKi Cho, M. Hertzel","doi":"10.2139/ssrn.3931948","DOIUrl":"https://doi.org/10.2139/ssrn.3931948","url":null,"abstract":"Declining worker power has been advanced as an explanation for dramatic generational changes in the U.S. macroeconomic environment such as the substantial decline in labor's share of the national income, the loss of consumer purchasing power, and growing income and wealth inequality. In this paper, we consider microeconomic implications by examining the extent to which declining working power affects firm-level investment decisions as reflected in firm responses to mandated increases in the minimum wage. Over our sample period, we find that investment-wage sensitivities go from negative (when worker power constrains management) to insignificant (when management becomes less constrained and can pursue outside options). We also provide evidence on the channel through which declining worker power affects firm investment responses, by showing that changes in investment-wage sensitivities are more significant for firms that are more exposed to globalization, technological change, and declining unionization.","PeriodicalId":18085,"journal":{"name":"Macroeconomics: Employment","volume":"4 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-09-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"79041230","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}
引用次数: 0
Online Appendix to 'Asymmetries in Aggregate Income Risk Over the Business Cycle: Evidence from Administrative Data of Argentina' “经济周期中总收入风险的不对称性:来自阿根廷行政数据的证据”在线附录
Macroeconomics: Employment Pub Date : 2021-08-31 DOI: 10.2139/ssrn.3923655
Jorge Camusso, Ana Inés Navarro
{"title":"Online Appendix to 'Asymmetries in Aggregate Income Risk Over the Business Cycle: Evidence from Administrative Data of Argentina'","authors":"Jorge Camusso, Ana Inés Navarro","doi":"10.2139/ssrn.3923655","DOIUrl":"https://doi.org/10.2139/ssrn.3923655","url":null,"abstract":"This Online Appendix provides supporting materials to the paper 'Asymmetries in aggregate income risk over the business cycle: evidence from administrative data of Argentina' (Camusso and Navarro, 2021).","PeriodicalId":18085,"journal":{"name":"Macroeconomics: Employment","volume":"56 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-08-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73889793","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}
引用次数: 0
Data Deepening and Nonbalanced Economic Growth 数据深化与非均衡经济增长
Macroeconomics: Employment Pub Date : 2021-08-08 DOI: 10.2139/ssrn.3894511
Richard B. Freeman, Buyuan Yang, Baitao Zhang
{"title":"Data Deepening and Nonbalanced Economic Growth","authors":"Richard B. Freeman, Buyuan Yang, Baitao Zhang","doi":"10.2139/ssrn.3894511","DOIUrl":"https://doi.org/10.2139/ssrn.3894511","url":null,"abstract":"As a newly emerging factor, data has been widely utilized in producing goods and services, and the nonbalanced growth between digital industries and non-digital industries is significant in recent years. In the digital economy, data has two unique features. One is the fact that data in one industry is the by-product of economic activities not only in its own industry but also in other industries, and it accumulates and depreciates like capital. Another is that, because of the strongly skilled-biased property, data only can be operated by skilled workers from high-tech companies. More importantly, data utilization within and across sectors can spur new ideas and promote technological innovation. We provide a novel growth model with two sectors differing in the degree of data deepening and the factor structure of production function. Our model indicates that an increase in data stock in two sectors has opposite effects on the allocation of skilled labor across sectors, and the skill premium (i.e., the wage of skilled labor relative to that of unskilled labor) decreases with an increase in the fraction of skilled labor employed in the data-extensive sector. With credible parameter values, model calibration shows that faster growth of output occurs in the more data-intensive sector and the high-level skill premium persists as the data accumulates in the long run.","PeriodicalId":18085,"journal":{"name":"Macroeconomics: Employment","volume":"48 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-08-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76499571","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}
引用次数: 1
Why Economic Theory Matters 为什么经济理论很重要
Macroeconomics: Employment Pub Date : 2021-07-31 DOI: 10.1017/9781108764919.008
{"title":"Why Economic Theory Matters","authors":"","doi":"10.1017/9781108764919.008","DOIUrl":"https://doi.org/10.1017/9781108764919.008","url":null,"abstract":"","PeriodicalId":18085,"journal":{"name":"Macroeconomics: Employment","volume":"28 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-07-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81601346","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}
引用次数: 0
Towards Good Economics 走向好的经济学
Macroeconomics: Employment Pub Date : 2021-07-31 DOI: 10.1017/9781108764919.011
{"title":"Towards Good Economics","authors":"","doi":"10.1017/9781108764919.011","DOIUrl":"https://doi.org/10.1017/9781108764919.011","url":null,"abstract":"","PeriodicalId":18085,"journal":{"name":"Macroeconomics: Employment","volume":"91 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-07-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81592329","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}
引用次数: 0
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