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The Outlook for U.S. Labor-Quality Growth
Bosler, Canyon - 2016
Over the past 15 years, labor-quality growth has been very strong--defying nearly all earlier projections--and has added around 0.5 percentage points to an otherwise modest U.S. productivity picture. Going forward, labor quality is likely to add considerably less and may even be a drag on...
Persistent link: https://www.econbiz.de/10012456124
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Meritocracy across Countries
Bandiera, Oriana; Kotia, Ananya; Lindenlaub, Ilse; … - National Bureau of Economic Research - 2024
Are labor markets in higher-income countries more meritocratic, in the sense that worker-job matching is based on … the role of worker-job matching in development accounting, we build an equilibrium matching model that allows for cross … determine match feasibility; (ii) technology, which determines the returns to matching; and (iii) idiosyncratic matching …
Persistent link: https://www.econbiz.de/10014528414
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Mismatch and Assimilation
Wang, Ping - 2018
Income disparity across countries has been large and widening over time. We develop a tractable model where factor requirements in production technology do not necessarily match a country's factor input profile. Appropriate assimilation of frontier technologies balances such multi-dimensional...
Persistent link: https://www.econbiz.de/10012480613
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When Liberal Policies Reflect External Shocks, What Do We Learn?
Bartolini, Leonardo - 1996
capital mobility, whereas others impose controls to trap capital onshore, thus signaling future policies affecting capital …
Persistent link: https://www.econbiz.de/10012473111
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Coping with Change : International Differences in the Returns to Skills
Hanushek, Eric A. - 2016
Expanded international data from the PIAAC survey of adult skills allow us to analyze potential sources of the cross-country variation of comparably estimated labor-market returns to skills in a more diverse set of 32 countries. Returns to skills are systematically larger in countries that have...
Persistent link: https://www.econbiz.de/10012456023
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External Validity in a Stochastic World
Rosenzweig, Mark - 2016
We examine the generalizability of internally valid estimates of causal effects in a fixed population over time when that population is subject to aggregate shocks. This temporal external validity is shown to depend upon the distribution of the aggregate shocks and the interaction between these...
Persistent link: https://www.econbiz.de/10012456228
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Optimal Gradualism
Lehr, Nils H.; Restrepo, Pascual - National Bureau of Economic Research - 2022
This paper studies how gradualism affects the welfare gains from trade, technology, and reforms. When people face adjustment frictions, gradual shocks create less adverse distributional effects in the short run. We show that there are welfare gains from inducing a more gradual transition via...
Persistent link: https://www.econbiz.de/10013477247
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Education for Growth : Why and For Whom?
Krueger, Alan B. - 2000
This paper tries to reconcile evidence from the microeconometric and empirical macro growth literatures on the effect of schooling on income and GDP growth. Much microeconometric evidence suggest that education is an important causal determinant of income for individuals within countries. At a...
Persistent link: https://www.econbiz.de/10012471178
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Bonus Question : Does Flexible Incentive Pay Dampen Unemployment Dynamics?
Gaur, Meghana; Grigsby, John R.; Hazell, Jonathon; … - National Bureau of Economic Research - 2023
We introduce dynamic incentive contracts into a model of unemployment dynamics and present three results. First, wage cyclicality from incentives does not dampen unemployment dynamics: the response of unemployment to shocks is first-order equivalent in an economy with flexible incentive pay and...
Persistent link: https://www.econbiz.de/10014372479
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Investment Busts, Reputation, and the Temptation to Blend in with the Crowd
Grenadier, Steven - 2012
We provide a dynamic model of an industry in which agents strategically time liquidation decisions in an effort to protect their reputations. As in traditional models, agents delay liquidation attempting to signal their quality. However, when the industry faces a common shock that...
Persistent link: https://www.econbiz.de/10012460714