This paper shows that the added worker effect (AWE) plays an important role in coping against aggregate shocks, even in cases where the discouragement effect prevails at a macroeconomic scale. Using an Argentine panel dataset between 2000-2002, we instrument the endogenous variation in the labor...

Between 2001 and 2019, Bhutan made significant economic progress with an average annual growth rate of 7 percent. This progress was accompanied by significant improvements in monetary and nonmonetary standards of living. However, recent shocks from the COVID-19 pandemic and global macroeconomic...