{"title":"Unions, Wages and Hours","authors":"David G. Blanchflower, Alex Bryson","doi":"10.2139/ssrn.4833951","DOIUrl":"https://doi.org/10.2139/ssrn.4833951","url":null,"abstract":"","PeriodicalId":507782,"journal":{"name":"SSRN Electronic Journal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2024-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141133997","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}
John Eric Humphries, J. Joensen, Gregory F. Veramendi
{"title":"The Gender Wage Gap: Skills, Sorting, and Returns","authors":"John Eric Humphries, J. Joensen, Gregory F. Veramendi","doi":"10.2139/ssrn.4710930","DOIUrl":"https://doi.org/10.2139/ssrn.4710930","url":null,"abstract":"There is a large gender wage gap among college graduates. This gender gap could be partially driven by differences in college major and prior skills. We use Swedish register data to study how much of the gender gap can be explained by differences in majors, skills, and skill prices. College majors explain 60 percent of the gender wage gap, but large gaps remain within majors. We find that within-major wage gaps are driven by neither differences in multidimensional skills nor returns to these skills. In fact, women are positively selected in terms of college preparation and skills in almost every major.","PeriodicalId":507782,"journal":{"name":"SSRN Electronic Journal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2024-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141137381","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":"Constructing Confidence Intervals for BIFSG Disparity Estimates","authors":"Elena Derby, Connor Dowd, Jacob Mortenson","doi":"10.2139/ssrn.4691949","DOIUrl":"https://doi.org/10.2139/ssrn.4691949","url":null,"abstract":"This paper describes a method to construct confidence intervals for estimates of disparities in outcomes between racial/ethnic groups when race and ethnicity are estimated using Bayesian Improved First Name and Surname Geocoding (BIFSG). Standard errors produced by regression packages understate the uncertainty in these estimates because they fail to incorporate noise arising from estimating race and ethnicity. This can produce false confidence when assessing the direction and magnitude of disparities. Conversely, the bootstrapping approach introduced in this paper incorporates uncertainty arising from the use of BIFSG. However, this procedure does not correct for any statistical bias associated with using BIFSG.","PeriodicalId":507782,"journal":{"name":"SSRN Electronic Journal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2024-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141137731","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":"Fiscal Consequences of Central Bank Losses","authors":"Stephen Cecchetti, Jens Hilscher","doi":"10.3386/w32478","DOIUrl":"https://doi.org/10.3386/w32478","url":null,"abstract":"","PeriodicalId":507782,"journal":{"name":"SSRN Electronic Journal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2024-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141143186","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}
Philip Schnorpfeil, Michael Weber, Andreas Hackethal
{"title":"Inflation and Trading","authors":"Philip Schnorpfeil, Michael Weber, Andreas Hackethal","doi":"10.2139/ssrn.4822700","DOIUrl":"https://doi.org/10.2139/ssrn.4822700","url":null,"abstract":"","PeriodicalId":507782,"journal":{"name":"SSRN Electronic Journal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2024-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141130286","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}
Jason Choi, Duong Dang, Rishabh Kirpalani, Diego J. Perez
{"title":"Exorbitant Privilege and the Sustainability of US Public Debt","authors":"Jason Choi, Duong Dang, Rishabh Kirpalani, Diego J. Perez","doi":"10.2139/ssrn.4722970","DOIUrl":"https://doi.org/10.2139/ssrn.4722970","url":null,"abstract":"We study the extent to which the perceived cost of losing the exorbitant privilege the United States holds in global safe asset markets sustains its public debt safety. Our findings indicate that losing this special status in the event of a default significantly augments the debt capacity for the United States. Debt levels would be up to 30 percent lower if the United States did not have this special status. Most of this extra debt capacity arises from the loss of convenience yields on Treasuries, which makes debt more expensive following its loss, providing strong incentives to repay debt.","PeriodicalId":507782,"journal":{"name":"SSRN Electronic Journal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2024-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141130377","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":"Credit, Land Speculation, and Long-Run Economic Growth","authors":"Tomohiro Hirano, J. Stiglitz","doi":"10.3386/w32479","DOIUrl":"https://doi.org/10.3386/w32479","url":null,"abstract":"This paper presents a model that studies the impact of credit expansions arising from increases in collateral values or lower interest rate policies on long-run productivity and economic growth in a two-sector endogenous growth economy, with the driver of growth lying in one sector (manufacturing) but not in the other (real estate). We show that it is not so much aggregate credit expansion that matters for long-run productivity and economic growth but sectoral credit expansions. Credit expansions associated mainly with relaxation of real estate financing (capital investment financing) will be productivity-and growth-retarding (enhancing). Without financial regulations, low interest rates and more expansionary monetary policy may so encourage land speculation using leverage that productive capital investment and economic growth are decreased. Unlike in standard macroeconomic models, in ours, the equilibrium price of land will be finite even if the safe rate of interest is less than the rate of output growth.","PeriodicalId":507782,"journal":{"name":"SSRN Electronic Journal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2024-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141131253","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}
Marco Di Maggio, Pulak Ghosh, Soumya Ghosh, Andrew Wu
{"title":"Impact of Retail CBDC on Digital Payments, and Bank Deposits: Evidence from India","authors":"Marco Di Maggio, Pulak Ghosh, Soumya Ghosh, Andrew Wu","doi":"10.2139/ssrn.4779520","DOIUrl":"https://doi.org/10.2139/ssrn.4779520","url":null,"abstract":"","PeriodicalId":507782,"journal":{"name":"SSRN Electronic Journal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2024-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141140061","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":"Re-Assessing the Spatial Mismatch Hypothesis","authors":"David E. Card, Jesse Rothstein, Moises Yi","doi":"10.2139/ssrn.4762959","DOIUrl":"https://doi.org/10.2139/ssrn.4762959","url":null,"abstract":"Using Longitudinal Employer-Household Dynamics data, we demonstrate several facts that are not consistent with the “spatial mismatch” hypothesis that residential segregation and uneven distribution of jobs limit Black workers' opportunities. We show that (a) there is no Black-White gap in the firm premium component of wages in an Abowd-Kramarz-Margolis wage decomposition; (b) there are both more jobs and more good jobs within commuting distance of Black than White workers; and (c) Black workers' commutes are shorter. We conclude that geographic proximity to good jobs is not a major source of racial earnings gaps in major US cities today.","PeriodicalId":507782,"journal":{"name":"SSRN Electronic Journal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2024-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141138508","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}
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