This document presents a meta-analysis of the literature on the productivity and inequality effects of rapid labor reallocation during economic transitions. It examines over 450 estimates of job and worker flows from 10 transition economies over 18 years. The analysis finds little support for simple stories about the relationship between transition speed and outcomes. In the short run, inequality increases with job destruction but productivity effects are unclear. In the long run, job creation is positively connected to inequality but productivity effects remain uncertain. The evidence together does not support or reject theories about an optimal transition speed based on synchronizing job destruction and creation.
The transformation of post Soviet countries from centrally planned to market economies is well-known. Or is it? We explore labor market flows after 1989 for all former Soviet countries and argue that demographics played a much more important role than the flows expected from the theoretical literature.
Can we really explain worker flows in transition economies?GRAPE
We test the validity of Aghion & Blanchard (1994) as well as Caballero & Hammour (1996, 2001) in the context of 26 transition economies over the period 1989-2006. We find that demographics and education can accommodate a fair share of shift from public to private and from manufacturing to services -- as opposed to the actual worker flows between jobs. Whether or not this results in reduced employment at the end of the transition process stems not from the wage setting mechanism (such as collective bargaining, indexation, etc.) but rather seems to be related to the policies able to keep older cohorts in employment.
We study transition economies and find out what labor flows are more common. Surprisingly, flows across sectors o ownership structures were always of smaller significance that flows into and out of the labor market. This result challenges the usefulness of policies aimed to re-skill labor force.
Can we really explain worker flows in transition?GRAPE
Labor reallocation in transition economies has been described using relatively simple models, where workers migrate from the less productive public sector to the private sector. While this might be true, it is only a part of the stories. Other changes happened at the same time as well, in particular a global shift towards services and a generational change. Our presentation explores the relative importance of those changes.
We analyze the role of the labor market flows and demographics in structural change of employment. We explore the evidence from all transition economies over the nearly three decades, providing insights on the mechanics between the reallocation of the labor force. We show that the flows of workers between jobs are essentially rare and occur mostly within industries rather than between them. Also, flows of jobs from public to private sector (i.e. privatizations) trump the flow of workers between the two. Finally, we demonstrate that the speed of changing the ownership structure in the economy has substantially driven exits to retirement, especially early exits.
The transformation of post Soviet countries from centrally planned to market economies is well-known. Or is it? We explore labor market flows after 1989 for all former Soviet countries and argue that demographics played a much more important role than the flows expected from the theoretical literature.
Can we really explain worker flows in transition economies?GRAPE
We test the validity of Aghion & Blanchard (1994) as well as Caballero & Hammour (1996, 2001) in the context of 26 transition economies over the period 1989-2006. We find that demographics and education can accommodate a fair share of shift from public to private and from manufacturing to services -- as opposed to the actual worker flows between jobs. Whether or not this results in reduced employment at the end of the transition process stems not from the wage setting mechanism (such as collective bargaining, indexation, etc.) but rather seems to be related to the policies able to keep older cohorts in employment.
We study transition economies and find out what labor flows are more common. Surprisingly, flows across sectors o ownership structures were always of smaller significance that flows into and out of the labor market. This result challenges the usefulness of policies aimed to re-skill labor force.
Can we really explain worker flows in transition?GRAPE
Labor reallocation in transition economies has been described using relatively simple models, where workers migrate from the less productive public sector to the private sector. While this might be true, it is only a part of the stories. Other changes happened at the same time as well, in particular a global shift towards services and a generational change. Our presentation explores the relative importance of those changes.
We analyze the role of the labor market flows and demographics in structural change of employment. We explore the evidence from all transition economies over the nearly three decades, providing insights on the mechanics between the reallocation of the labor force. We show that the flows of workers between jobs are essentially rare and occur mostly within industries rather than between them. Also, flows of jobs from public to private sector (i.e. privatizations) trump the flow of workers between the two. Finally, we demonstrate that the speed of changing the ownership structure in the economy has substantially driven exits to retirement, especially early exits.
Productivity and inequality effects of rapid labor market reallocationGRAPE
Periods of economic distress are usually followed by changes in the productive structure. In our paper, we explore a particularly strong shock: transition to a market economy, and analyze the short and long run effects on inequalities.
Productivity and inequality effects of rapid labor reallocationGRAPE
What happens when an economy faces a shock so severe that shakes the employment structure? Sure, workers move across sectors and overall productivity might increase, but at what cost? Here we exploit the quasi-natural experiment following transition to understand what are the short and long run effects of labor market reallocation. Our results suggest that inequalities increase in the short run,without a significant increase in productivity. In the long run, the effects seem to be negligible.
Can we really explain worker flows in transition?GRAPE
While many studied job flows in transition economies, our knowledge of what happened since the fall of the URSS is still limited to a few countries and a few years. In this presentation we use the Life in Transition Survey to look at a more general picture. Our findings suggest that most of reallocation came in the form of demographic changes - the entrance of young better prepared cohort and the movement to retirement of older cohort.
The aim of this study is to explore the structure and the dynamics of regional labour markets in terms of gross job and worker flows. The regional turnover rates are related to macroeconomic indicators, demographic factors and industry-structure by employing the data of 85 Finnish regions over the period of 1988–1997. The results imply that different factors can have similar effects on net changes in employment and unemployment by various means of affecting gross changes.
Wage inequality did not increase in the last 30 years, both in transition and non-transition economies, after first shock in early 90’s.
Wage inequality is larger in transition countries, but when we take into account only inequality due to characteristics the difference disappears.
Indicators of globalization and skill biased technological change correlate positively or do not correlate with wage inequality (partial CONFIRMATION of the theory)
Surprisingly, the effect is smaller for transition economies
The only exception is a share of high-skilled workers that decreases wage inequality attributable to characteristics.
The nature of co-movement between total output and employment during the 1990s indicates that the relationship between employment growth and economic activity has been peculiar in Finland. This has been reflected, for example, in the developments of aggregate labour productivity. In particular, the years from 1992 to 1994 were exceptional. During that period productivity growth was very rapid, and, what is important, the trend of aggregate labour productivity shifted upwards. By only analysing the relationship between total output and employment it is impossible to say what happened during the period between 1992 and 1994. In this paper the relationship is analysed by utilizing industry-level data. The analysis shows that the rapid growth in aggregate productivity and the upward shift in the productivity trend mainly reflect similar developments in manufacturing, particularly in the metal industry. Even though the investigation is based on the use of industry-level data, it is still aggregative, which makes the interpretation of the results less clearcut. The existing studies which are based on the use of micro-level (e.g. plant-level) data support the interpretation which emphasizes the role of business restructuring and labour reallocation within manufacturing as the causes of rapid productivity growth and the upward shift in the trend productivity. The analysis is based on the estimation of simple structural VAR models.
Most people agree that extending the working life is a desirable goal. Yet, there is much to be known about the factors determining the decision to retire. In this paper, we analyze the role played by one of them: routine intensity of the occupation. We show that workers in more routine occupations tend to work less hours, but we did not find any significant effect on the decision to retire.
We explore the topic of female entrepreneurship, its character (necessity or opportunity driven) and gender inequality (wage and employment). We find that when the gender gaps are larger women are more likely to start own firm, but they claim that this decision is driven only by necessity.
This study addresses the connection between reorganization and unemployment in the labour market. Reorganization of regional labour markets measured by simultaneous gross migration flows lowers the unemployment rate, based on evidence from a panel of Finnish regions. However, reorganization is shown to be unrelated to long-term unemployment.
The paper is concerned with the relationship between labour share and unemployment in the major OECD countries. Special emphasis is put on examining whether the relationship has altered in a manner which can be interpreted as an indication of the weakened bargaining power of labour. The
econometric analysis is based on the use of the theoretical framework which employs the notion of the wage curve as a central analytical tool. The investigation utilises cross-country panel data for twenty OECD countries over the period from 1972 to 2008 and statistical methods suitable for the
examination of non-stationary panels. According to the results, the decline in the labour share, which is apparent in most major OECD countries, is highly likely due, at least partly, to the weakened bargaining power of labour. With a given level of unemployment, the labour share is nowadays lower than before.
Ricardo and Marx saw technological change as a possible cause of long-period unemployment. Neoclassical and Schumpeterian economists regard technological unemployment as a transitory phenomenon. This paper argues that the capital critique (i) demolishes the neoclassical claim that market mechanisms will restore full employment whenever workers are displaced by technical change, and (ii) rehabilitates the old Ricardian argument that automatic compensation factors are generally absent. The neo-Schumpeterian notion of autonomous investment is also rejected, in favour of the view that, in the long period, all investment is induced. By extending Keynes’s theory of effective demand to the long period through a model based on the supermultiplier, this paper suggests that the ultimate engines of growth are located in the autonomous components of effective demand—exports, government spending and autonomous con- sumption. Technical change plays a role in the accumulation process through its effects on consumption patterns and the material input requirements. However, the impact of technical change is now seen to depend upon circumstances such as income distribution, the availability of bank liquidity and exchange rate policy.
How (Not) to Make Women Work? Evidence from Transition CountriesGRAPE
We explore the reasons behind the fall of female employment rates in transition economies and compare them to the evolution in advanced economies. Using a large set of micro level databases, we find that the mechanisms that lead to an increasing female presence in the labor market (higher education and postponing marriage) do not seem to play a role in transition economies.
Career instability in a context of technological changeGRAPE
What happens to workers when machines become more productive? Theory predicts longer unemployment spells (due to labor market frictions) and more unstable careers (due to loss of job specific human capital). Our empirical analysis seeks to validate this story using panel data from Germany and Great Britain. Evidence indicates a weak relation
In 1990, at the onset of transition, the female employment ratio in former communist countries was up to 20 percentage points above the employment ratio of women in Western European economies. Thirty years later, the positions are inverted. Women in transition countries lag behind women in advanced economies, and closing the breach appears as a long-term goal. So, what had happened over those years? Our research explores the role of two elements: removal of work orders and changes in opportunity costs.
We examine the effects of establishment- and industry-level labor market turnover on employees’ well-being. The linked employer-employee panel data contain both survey information on employees’ subjective well-being and comprehensive register-based information on job and worker flows. Labor market turbulence decreases well-being as experienced job satisfaction and satisfaction with job security are negatively related to the previous year’s flows. We test for the existence of compensating wage differentials by explaining wages and job satisfaction with average uncertainties, measured by an indicator for a high moving average of past excessive turnover (churning) rate. The results are consistent with compensating wage differentials, since high uncertainty increases real wages, but has no effect on job satisfaction.
Productivity and inequality effects of rapid labor market reallocationGRAPE
Periods of economic distress are usually followed by changes in the productive structure. In our paper, we explore a particularly strong shock: transition to a market economy, and analyze the short and long run effects on inequalities.
Productivity and inequality effects of rapid labor reallocationGRAPE
What happens when an economy faces a shock so severe that shakes the employment structure? Sure, workers move across sectors and overall productivity might increase, but at what cost? Here we exploit the quasi-natural experiment following transition to understand what are the short and long run effects of labor market reallocation. Our results suggest that inequalities increase in the short run,without a significant increase in productivity. In the long run, the effects seem to be negligible.
Can we really explain worker flows in transition?GRAPE
While many studied job flows in transition economies, our knowledge of what happened since the fall of the URSS is still limited to a few countries and a few years. In this presentation we use the Life in Transition Survey to look at a more general picture. Our findings suggest that most of reallocation came in the form of demographic changes - the entrance of young better prepared cohort and the movement to retirement of older cohort.
The aim of this study is to explore the structure and the dynamics of regional labour markets in terms of gross job and worker flows. The regional turnover rates are related to macroeconomic indicators, demographic factors and industry-structure by employing the data of 85 Finnish regions over the period of 1988–1997. The results imply that different factors can have similar effects on net changes in employment and unemployment by various means of affecting gross changes.
Wage inequality did not increase in the last 30 years, both in transition and non-transition economies, after first shock in early 90’s.
Wage inequality is larger in transition countries, but when we take into account only inequality due to characteristics the difference disappears.
Indicators of globalization and skill biased technological change correlate positively or do not correlate with wage inequality (partial CONFIRMATION of the theory)
Surprisingly, the effect is smaller for transition economies
The only exception is a share of high-skilled workers that decreases wage inequality attributable to characteristics.
The nature of co-movement between total output and employment during the 1990s indicates that the relationship between employment growth and economic activity has been peculiar in Finland. This has been reflected, for example, in the developments of aggregate labour productivity. In particular, the years from 1992 to 1994 were exceptional. During that period productivity growth was very rapid, and, what is important, the trend of aggregate labour productivity shifted upwards. By only analysing the relationship between total output and employment it is impossible to say what happened during the period between 1992 and 1994. In this paper the relationship is analysed by utilizing industry-level data. The analysis shows that the rapid growth in aggregate productivity and the upward shift in the productivity trend mainly reflect similar developments in manufacturing, particularly in the metal industry. Even though the investigation is based on the use of industry-level data, it is still aggregative, which makes the interpretation of the results less clearcut. The existing studies which are based on the use of micro-level (e.g. plant-level) data support the interpretation which emphasizes the role of business restructuring and labour reallocation within manufacturing as the causes of rapid productivity growth and the upward shift in the trend productivity. The analysis is based on the estimation of simple structural VAR models.
Most people agree that extending the working life is a desirable goal. Yet, there is much to be known about the factors determining the decision to retire. In this paper, we analyze the role played by one of them: routine intensity of the occupation. We show that workers in more routine occupations tend to work less hours, but we did not find any significant effect on the decision to retire.
We explore the topic of female entrepreneurship, its character (necessity or opportunity driven) and gender inequality (wage and employment). We find that when the gender gaps are larger women are more likely to start own firm, but they claim that this decision is driven only by necessity.
This study addresses the connection between reorganization and unemployment in the labour market. Reorganization of regional labour markets measured by simultaneous gross migration flows lowers the unemployment rate, based on evidence from a panel of Finnish regions. However, reorganization is shown to be unrelated to long-term unemployment.
The paper is concerned with the relationship between labour share and unemployment in the major OECD countries. Special emphasis is put on examining whether the relationship has altered in a manner which can be interpreted as an indication of the weakened bargaining power of labour. The
econometric analysis is based on the use of the theoretical framework which employs the notion of the wage curve as a central analytical tool. The investigation utilises cross-country panel data for twenty OECD countries over the period from 1972 to 2008 and statistical methods suitable for the
examination of non-stationary panels. According to the results, the decline in the labour share, which is apparent in most major OECD countries, is highly likely due, at least partly, to the weakened bargaining power of labour. With a given level of unemployment, the labour share is nowadays lower than before.
Ricardo and Marx saw technological change as a possible cause of long-period unemployment. Neoclassical and Schumpeterian economists regard technological unemployment as a transitory phenomenon. This paper argues that the capital critique (i) demolishes the neoclassical claim that market mechanisms will restore full employment whenever workers are displaced by technical change, and (ii) rehabilitates the old Ricardian argument that automatic compensation factors are generally absent. The neo-Schumpeterian notion of autonomous investment is also rejected, in favour of the view that, in the long period, all investment is induced. By extending Keynes’s theory of effective demand to the long period through a model based on the supermultiplier, this paper suggests that the ultimate engines of growth are located in the autonomous components of effective demand—exports, government spending and autonomous con- sumption. Technical change plays a role in the accumulation process through its effects on consumption patterns and the material input requirements. However, the impact of technical change is now seen to depend upon circumstances such as income distribution, the availability of bank liquidity and exchange rate policy.
How (Not) to Make Women Work? Evidence from Transition CountriesGRAPE
We explore the reasons behind the fall of female employment rates in transition economies and compare them to the evolution in advanced economies. Using a large set of micro level databases, we find that the mechanisms that lead to an increasing female presence in the labor market (higher education and postponing marriage) do not seem to play a role in transition economies.
Career instability in a context of technological changeGRAPE
What happens to workers when machines become more productive? Theory predicts longer unemployment spells (due to labor market frictions) and more unstable careers (due to loss of job specific human capital). Our empirical analysis seeks to validate this story using panel data from Germany and Great Britain. Evidence indicates a weak relation
In 1990, at the onset of transition, the female employment ratio in former communist countries was up to 20 percentage points above the employment ratio of women in Western European economies. Thirty years later, the positions are inverted. Women in transition countries lag behind women in advanced economies, and closing the breach appears as a long-term goal. So, what had happened over those years? Our research explores the role of two elements: removal of work orders and changes in opportunity costs.
We examine the effects of establishment- and industry-level labor market turnover on employees’ well-being. The linked employer-employee panel data contain both survey information on employees’ subjective well-being and comprehensive register-based information on job and worker flows. Labor market turbulence decreases well-being as experienced job satisfaction and satisfaction with job security are negatively related to the previous year’s flows. We test for the existence of compensating wage differentials by explaining wages and job satisfaction with average uncertainties, measured by an indicator for a high moving average of past excessive turnover (churning) rate. The results are consistent with compensating wage differentials, since high uncertainty increases real wages, but has no effect on job satisfaction.
Fluctuations of employment across age and gender - Enrico Zaninotto, Roberto ...OECD CFE
Presentation of Enrico Zaninotto, Full Professor, Department of Economics and Management, University of Trento, Italy at the fourth meeting of the Spatial productivity Lab of the OECD Trento Centre held on 17 April 2019.
More info http://oe.cd/SPL
Economic consequences of changing fertility. Insights from an OLG modelGRAPE
We want to use macro models to evaluate effects of differenet demographic scenarios
Demographics drives majority of the macroeconomic changes in the foreseeable future
Fiscal effects will be large and unavoidable but larger TFR can mitigate them
Strong (political) discussions about ways to prevent demographic catastrophe...
...but what is the adequate cost of family policy - even if successful?
Figures we obtain go beyond the simple calculations in Excel (forward looking agents)
Labor Policy Analysis for Jobs Expansion and DevelopmentFEF Philippines
Study conducted and presented by FEF Fellow Vicente Paqueo, Aniceto Orbeta, Leonardo Lanzona and Dean Dulay for the PIDS Economic Policy Monitor Seminar, April 3, 2014. The study concludes that minimum wages and labor security have negative effects for poverty alleviation and income growth.
Asymmetric media responses in the Dutch context: Does newspapers coverage respond to economic information?
Autoregressive Distributed Lags and Error Correction Models
Please read the article. What is your opinion about the job prosp.docxLeilaniPoolsy
"Please read the article. What is your opinion about the job prospects? Is there a bright future for the IT field in general? Are certifications the key to landing a great job? What certifications do you need to land a network administrator job? http://blog.rht.com/network-administrator-great-career-rising-salary-2014"
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Institute for the Study
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On the Robustness of Minimum Wage Effects:
Geographically-Disparate Trends and
Job Growth Equations
IZA DP No. 8420
August 2014
John T. Addison
McKinley L. Blackburn
Chad D. Cotti
On the Robustness of Minimum Wage Effects:
Geographically-Disparate Trends and
Job Growth Equations
John T. Addison
University of South Carolina,
Durham University and IZA
McKinley L. Blackburn
University of South Carolina
Chad D. Cotti
University of Wisconsin-Oshkosh
Discussion Paper No. 8420
August 2014
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IZA Discussion Paper No. 8420
August 2014
ABSTRACT
On the Robustness of Minimum Wage Effects:
Geographically-Disparate Trends and Job Growth Equations
Just as the standard two-way fixed effects model for estimating the impact of minimum
wages on employment has been sharply criticized for its neglect of spatial heterogeneity so,
too, have the latest models been attacked for their uncritical use of state- or county-specific
linear trends (and other spatial counterfactuals). Further attenuation of the effects of policy is
also alleged to obtain in such circumstances where the true effect.
One of the most pressing problems facing the Kenyan economy is the high rates of unemployment,
which has been erratic over the past few years. To examine the existing relationship between unemployment and
economic growth, this paper employed Johansen Cointegration, error correction mechanism (ECM),
The invention of information, communication, and computing technology (ICT) has made it possible to use automated processes to replace labor in certain ”routine” tasks, which require following exact, well-defined procedures. We study the implications of this for the labor income share as well as the allocation of labor across routine and non-routine occupations. We document a substantial decline in the routine labor income share since 1979 as well as a simultaneous rise in the the non-routine labor income share. At the same time, the ICT capital income share nearly doubled while the non-ICT capital income share remained at its historical levels. We use these trends to calibrate a neoclassical growth model, in which ICT capital and routine labor are imperfect substitutes. We further allow for exogenous changes in the production intensity of non-routine labor. Our calibration suggests that the decline in the aggregate labor income share is a result of the automation of routine tasks. However, the reallocation of labor toward non-routine occupations is due primarily to the increase in the production intensity of non-routine labor as opposed to the accumulation of ICT.
Cutting Edge Economic Techniques for Assessing Regional InnovationsPenn State University
Presentation by Rose Baker and David Passmore at 2008 Pennsylvania Workforce Investment Board Symposium in University Park, Pennsylvania, on 25 June 2008.
Using Granger Causality to Examine the Relationship Between Economic Growth a...inventionjournals
This study refers to Okun's Law on the economy in North Sumatera Province. Difference with previous studies, in this study the data used is not aggregate data but the data of each economic sector. In addition, the unemployment variable is proxy with the absorption of labor rate. The data analysis was tested by Granger Causality to determine the direction of the relationship between variables for growth of each economic sectors and absorption of labor. By using the Granger Causality Test analysis we concluded that the agricultural sector has a two-way direction relationship between economic growth and absorption of labor. Mining and Quarrying sector, construction sector, transport and communication sector and services sector only have one-way direction relationship from absorption of labor to economic growth. Electricity, gas and water supply have one-way direction relationship from economic growth to absorption of labor. Three other sectors are sectors manufacturing industry sector; trade, hotel and restaurant sector and finance, real estate and business service have no relationship at all between economic growth and absorption of labor.
Economies and societies become more interdependent, the need to enhance our understanding of the world of work becomes increasingly important. Timely and focused information on the world's labor markets is essential. So Developed a project on Employment Trends
Similar to Productivity and Inequality Effects of Labor Reallocation Transition -- Insights from a A Meta-Analysis of Studies on Transition (20)
Seminar: Gender Board Diversity through Ownership NetworksGRAPE
Seminar on gender diversity spillovers through ownership networks at FAME|GRAPE. Presenting novel research. Studies in economics and management using econometrics methods.
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
Revisiting gender board diversity and firm performanceGRAPE
Cel: oszacować wpływ inkluzywności władz spółek na ich wyniki.
Co wiemy?
• Większość firm nie ma równosci płci w organach (ILO, 2015)
• Większość firm nie ma w ogóle kobiet we władzach
Demographic transition and the rise of wealth inequalityGRAPE
We study the contribution of rising longevity to the rise of wealth inequality in the U.S. over the last seventy years. We construct an OLG model with multiple sources of inequality, closely calibrated to the data. Our main finding is that improvements in old-age longevity explain about 30% of the observed rise in wealth inequality. This magnitude is similar to previously emphasized channels associated with income inequality and the tax system. The contribution of demographics is bound to raise wealth inequality further in the decades to come.
(Gender) tone at the top: the effect of board diversity on gender inequalityGRAPE
The research explores to what extent the presence of women on board affects gender inequality downstream. We find that increasing presence reduces gender inequality. To avoid reverse causality, we propose a new instrument: the share of household consumption in total output. We extend the analysis to recover the effect of a single woman on board (tokenism(
Gender board diversity spillovers and the public eyeGRAPE
A range of policy recommendations mandating gender board quotas is based on the idea that "women help women". We analyze potential gender diversity spillovers from supervisory to top managerial positions over three decades in Europe. Contrary to previous studies which worked with stock listed firms or were region locked, we use a large data base of roughly 2 000 000 firms. We find evidence that women do not help women in corporate Europe, unless the firm is stock listed. Only within public firms, going from no woman to at least one woman on supervisory position is associated with a 10-15% higher probability of appointing at least one woman to the executive position. This pattern aligns with various managerial theories, suggesting that external visibility influences corporate gender diversity practices. The study implies that diversity policies, while impactful in public firms, have limited
effectiveness in promoting gender diversity in corporate Europe.
Tone at the top: the effects of gender board diversity on gender wage inequal...GRAPE
We address the gender wage gap in Europe, focusing on the impact of female representation in executive and non-executive boards. We use a novel dataset to identify gender board diversity across European firms, which covers a comprehensive sample of private firms in addition to publicly listed ones. Our study spans three waves of the Structure of Earnings Survey, covering 26 countries and multiple industries. Despite low prevalence of female representation and the complex nature of gender wage inequality, our findings reveal a robust causal link: increased gender diversity significantly decreases the adjusted gender wage gap. We also demonstrate that to meaningfully impact gender wage gaps, the presence of a single female representative in leadership is insufficient.
Gender board diversity spillovers and the public eyeGRAPE
A range of policy recommendations mandating gender board quotas is based on the idea that "women help women". We analyze potential gender diversity spillovers from supervisory to top managerial positions over three decades in Europe. Contrary to previous studies which worked with stock listed firms or were region locked, we use a large data base of roughly 2 000 000 firms. We find evidence that women do not help women in corporate Europe, unless the firm is stock listed. Only within public firms, going from no woman to at least one woman on supervisory position is associated with a 10-15\% higher probability of appointing at least one woman to the executive position. This pattern aligns with the Public Eye Managerial Theory, suggesting that external visibility influences corporate gender diversity practices. The study implies that diversity policies, while impactful in public firms, have limited effectiveness in promoting gender diversity in corporate Europe.
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large New Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economies, we use this model to provide comparative statics across past and contemporaneous age structures of the working population. Thus, we quantify the extent to which the response of labor markets to adverse TFP shocks and monetary policy shocks becomes muted with the aging of the working population. Our findings have important policy implications for European labor markets and beyond. For example, the working population is expected to further age in Europe, whereas the share of young workers will remain robust in the US. Our results suggest a partial reversal of the European-US unemployment puzzle. Furthermore, with the aging population, lowering inflation volatility is less costly in terms of higher unemployment volatility. It suggests that optimal monetary policy should be more hawkish in the older society.
Evidence concerning inequality in ability to realize aspirations is prevalent: overall, in specialized segments of the labor market, in self-employment and high-aspirations environments. Empirical literature and public debate are full of case studies and comprehensive empirical studies documenting the paramount gap between successful individuals (typically ethnic majority men) and those who are less likely to “make it” (typically ethnic minority and women). So far the drivers of these disparities and their consequences have been studied much less intensively, due to methodological constraints and shortage of appropriate data. This project proposes significant innovations to overcome both types of barriers and push the frontier of the research agenda on equality in reaching aspirations.
Overall, project is interdisciplinary, combining four fields: management, economics, quantitative methods and psychology. An important feature of this project is that it offers a diversified methodological perspective, combining applied microeconometrics, as well as experimental methods.
2. Elemental Economics - Mineral demand.pdfNeal Brewster
After this second you should be able to: Explain the main determinants of demand for any mineral product, and their relative importance; recognise and explain how demand for any product is likely to change with economic activity; recognise and explain the roles of technology and relative prices in influencing demand; be able to explain the differences between the rates of growth of demand for different products.
where can I find a legit pi merchant onlineDOT TECH
Yes. This is very easy what you need is a recommendation from someone who has successfully traded pi coins before with a merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi network coins and resell them to Investors looking forward to hold thousands of pi coins before the open mainnet.
I will leave the what'sapp contact of my personal pi merchant to trade with
+12349014282
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
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Productivity and Inequality Effects of Labor Reallocation Transition -- Insights from a A Meta-Analysis of Studies on Transition
1. Productivity and inequality effects of rapid labor reallocation
Productivity and inequality effects
of rapid labor reallocation
A meta-analysis
Jan Svejnar - Joanna Tyrowicz - Lucas van der Velde
MAER-Net, Prague
September, 2015
2. Productivity and inequality effects of rapid labor reallocation
Introduction
Introduction
Why do we do it?
Economic shocks → reallocation → inequalities and productivity growth.
3. Productivity and inequality effects of rapid labor reallocation
Introduction
Introduction
Why do we do it?
Economic shocks → reallocation → inequalities and productivity growth.
Transition as a quasi-natural experiment.
Policy recommendations very much based on the optimal speed of
transition (OST) - right or wrong?
4. Productivity and inequality effects of rapid labor reallocation
Introduction
Introduction
Why do we do it?
Economic shocks → reallocation → inequalities and productivity growth.
Transition as a quasi-natural experiment.
Policy recommendations very much based on the optimal speed of
transition (OST) - right or wrong?
What do we do?
A quantitative overview of the results availabile in the literature
5. Productivity and inequality effects of rapid labor reallocation
Introduction
Introduction
Why do we do it?
Economic shocks → reallocation → inequalities and productivity growth.
Transition as a quasi-natural experiment.
Policy recommendations very much based on the optimal speed of
transition (OST) - right or wrong?
What do we do?
A quantitative overview of the results availabile in the literature
Spoilers
Nothing is what it seems (even to the Authors)
6. Productivity and inequality effects of rapid labor reallocation
Introduction
Links in the literature
Aghion and Blanchard (1994) theory: the optimal speed of
transition
1 Inefficient public sector fires.
2 Emerging private sector hires.
3 If firing desynchronized with hiring, labor tax wedge (to pay benefits) kills
job creation, possibly too much despite downward pressure on expected
wages → unstable equilibria.
4 Government can control the rate of firing, to make the two synchronized.
7. Productivity and inequality effects of rapid labor reallocation
Introduction
Links in the literature
Aghion and Blanchard (1994) theory: the optimal speed of
transition
1 Inefficient public sector fires.
2 Emerging private sector hires.
3 If firing desynchronized with hiring, labor tax wedge (to pay benefits) kills
job creation, possibly too much despite downward pressure on expected
wages → unstable equilibria.
4 Government can control the rate of firing, to make the two synchronized.
Links to productivity.
8. Productivity and inequality effects of rapid labor reallocation
Introduction
Links in the literature
Aghion and Blanchard (1994) theory: the optimal speed of
transition
1 Inefficient public sector fires.
2 Emerging private sector hires.
3 If firing desynchronized with hiring, labor tax wedge (to pay benefits) kills
job creation, possibly too much despite downward pressure on expected
wages → unstable equilibria.
4 Government can control the rate of firing, to make the two synchronized.
Links to productivity.
Links to inequalities.
9. Productivity and inequality effects of rapid labor reallocation
Methods and data
Key concepts and data sources
Worker flows vs Job flows
Literature
Life in Transition Survey (LiTS)
10. Productivity and inequality effects of rapid labor reallocation
Methods and data
Key concepts and data sources
Worker flows vs Job flows
Literature
Life in Transition Survey (LiTS)
Productivity
Conference Board database: GDP per employee (chain index
avg. 1980 =100)
Inequalities
World Income Inequality Database compiled by United Nations
12. Productivity and inequality effects of rapid labor reallocation
Methods and data
“Meta-analysis”
The process of data collection
1 EconLit database: Keywords ”Reallocation” and ”Transition”.
2 Restricted to empirical papers in English with available direct
measures.
3 131 hits, of which 13 were useful + 5 (bibliographic search).
13. Productivity and inequality effects of rapid labor reallocation
Methods and data
“Meta-analysis”
The process of data collection
1 EconLit database: Keywords ”Reallocation” and ”Transition”.
2 Restricted to empirical papers in English with available direct
measures.
3 131 hits, of which 13 were useful + 5 (bibliographic search).
455 flow estimates.
10 transition economies, 18 years.
14. Productivity and inequality effects of rapid labor reallocation
Methods and data
Countries and years under analysis
EST RUS UKR BGR POL ROM SVN SVK CZE HUN
# of papers 2 2 3 1 3 1 2 1 1 1
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
15. Productivity and inequality effects of rapid labor reallocation
Methods and data
Job and Worker flows
Comparison to flows from the Life in Transition Survey
Notes: Job creation and Hirings (right) and Job destruction and Separations (left)
16. Productivity and inequality effects of rapid labor reallocation
Results
Results
Highlights
1 Little support for simple stories of transition: a
“meta-regression” of existing papers
2 Short run trade-off? Inequality increases with JD, lack of
correlations to productivity growth.
3 What really matters in the long run?
17. Productivity and inequality effects of rapid labor reallocation
Results
Putting the evidence together: a “meta-regression”
Variable Job creation Job destruction
Only public firms -3.343*** -6.676***
(0.867) (2.086)
Only in manufacturing -7.602*** -8.051***
(2.156) (2.507)
Only large firms -4.095*** -3.871**
(1.749) (2.282)
Only small firms 11.86*** 4.761
(3.959) (4.211)
Controls for article No Yes
Controls for country No Yes
Controls for year No Yes
# of observations 345 345
R2
0.174 0.253
Notes: Results correspond to the subsample of estimates on job flows.
18. Productivity and inequality effects of rapid labor reallocation
Results
Putting the evidence together: a “meta-regression”
Variable Job creation Job destruction
Only public firms -3.343*** -6.676*** -0.243 -0.663
(0.867) (2.086) (0.908) (0.750)
Only in manufacturing -7.602*** -8.051*** 2.403*** -0.853
(2.156) (2.507) (0.782) (0.652)
Only large firms -4.095*** -3.871** 0.298 -1.291
(1.749) (2.282) (0.725) (0.985)
Only small firms 11.86*** 4.761 7.832*** 3.800***
(3.959) (4.211) (1.595) (1.348)
Controls for article No Yes No Yes
Controls for country No Yes No Yes
Controls for year No Yes No Yes
# of observations 345 345 345 345
R2
0.174 0.253 0.214 0.615
Notes: Results correspond to the subsample of estimates on job flows.
19. Productivity and inequality effects of rapid labor reallocation
Results
Short run
All flows (raw) Article Time, country f.e. Worker flows
Inequalities Job Creation
β 0.017*** 0.006 -0.001 1.099***
SE (0.007) (0.040) (0.008) (0.202)
20. Productivity and inequality effects of rapid labor reallocation
Results
Short run
All flows (raw) Article Time, country f.e. Worker flows
Inequalities Job Creation
β 0.017*** 0.006 -0.001 1.099***
SE (0.007) (0.040) (0.008) (0.202)
Inequalities Job Destruction
β 0.144*** 0.361*** 0.151*** 0.456***
SE (0.021) (0.107) (0.030) (0.181)
Productivity Job Creation
β -0.003 -0.008 0.003 1.436***
SE (0.006) (0.020) (0.006) (0.327)
Productivity Job Destruction
β -0.069*** -0.196*** -0.050** -0.921***
SE (0.018) (0.057) (0.026) (0.202)
Notes: estimates for Worker flows come from the Life in Transition survey. ***,**
indicates significance at the 5% and 10 % level respectively.
21. Productivity and inequality effects of rapid labor reallocation
Results
Robustness: links to inequality and produtivity in LiTS
Productivity Inequalities
(1) (2) (1) (2)
β 2.010*** 1.099*** 0.535 1.436***
Job SE (0.680) -0.202 (0.696) (0.327)
Creation N 18 192 19 240
R2 0.402 0.152 0.041 0.082
β 1.464*** 0.456*** -0.217 -0.921***
Job SE (0.667) -0.181 (0.549) (0.233)
Destruction N 18 192 19 240
R2 0.271 0.037 0.011 0.068
Notes:
in (1) the sample covers the same country-year periods than in the literature;
in (2) the sample covers all years and countries with available data.
22. Productivity and inequality effects of rapid labor reallocation
Results
Links to inequalities: Long run
Job creation (left) and job destruction (right)
Hirings (left) and separation (right)
23. Productivity and inequality effects of rapid labor reallocation
Results
Links to productivity: Long run
Job creation (left) and job destruction (right)
Hirings (left) and separation (right)
24. Productivity and inequality effects of rapid labor reallocation
Conclusions
Conclusions
1 With respect to the literature
Estimates from the literature do not support simple stories of
transition
We cannot say we reject OST with this data – just that
together this evidence shows other than each separately
25. Productivity and inequality effects of rapid labor reallocation
Conclusions
Conclusions
1 With respect to the literature
Estimates from the literature do not support simple stories of
transition
We cannot say we reject OST with this data – just that
together this evidence shows other than each separately
2 With regards to productivity
We find no evidence of creative destruction in the short run
Lack of clear long term effects on productivity
26. Productivity and inequality effects of rapid labor reallocation
Conclusions
Conclusions
1 With respect to the literature
Estimates from the literature do not support simple stories of
transition
We cannot say we reject OST with this data – just that
together this evidence shows other than each separately
2 With regards to productivity
We find no evidence of creative destruction in the short run
Lack of clear long term effects on productivity
3 With regards to inequalities
Reallocation (JC & JD) positively connected to inequalities.
Long lasting effects mainly through JC
28. Productivity and inequality effects of rapid labor reallocation
Appendix
Articles used in the meta-analysis I
Acquisti, A., Lehmann, H., 2000. Job creation and job destruction in the Russian
Federation. Trinity Economic Paper Series 1/00, Trinity College Dublin.
Bilsen, V., Konings, J., 1998. Job Creation, Job Destruction, and Growth of
Newly Established, Privatized, and State-Owned Enterprises in Transition
Economies: Survey Evidence from Bulgaria, Hungary, and Romania . Journal of
Comparative Economics 26 (3), 429 – 445.
Bojnec, S., Konings, J., 1998. Job Creation, Job Destruction and Labour
Demand in Slovenia (7498).
Brown, D. J., Earle, J. S., 2003. The reallocation of workers and jobs in Russian
industry. Economics of Transition 11 (2), 221–252.
Brown, J. D., Earle, J. S., 2002. Gross job flows in Russian industry before and
after reforms: Has destruction become more creative? Journal of Comparative
Economics 30 (1), 96–133.
Brown, J. D., Earle, J. S., 2006. Job reallocation and productivity growth in the
Ukrainian transition. Comparative Economic Studies 48 (2), 229–251.
29. Productivity and inequality effects of rapid labor reallocation
Appendix
Articles used in the meta-analysis II
Christev, A., Kupets, O., Lehmann, H., 2008. Trade liberalization and
employment effects in Ukraine. Comparative Economic Studies 50 (2), 318–340.
De Loecker, J., Konings, J., 2006. Job reallocation and productivity growth in a
post-socialist economy: Evidence from Slovenian manufacturing. European
Journal of Political Economy 22 (2), 388–408.
Faggio, G., Konings, J., 2003. Job creation, job destruction and employment
growth in transition countries in the 90s. Economic Systems 27 (2), 129–154.
Gimpelson, V., Kapeliushnikov, R., Lukiyanova, A., 2010. Stuck between surplus
and shortage: demand for skills in Russian industry. Labour 24 (3), 311–332.
Haltiwanger, J. C., Vodopivec, M., 2002. Gross worker and job flows in a
transition economy: an analysis of Estonia. Labour Economics 9 (5), 601–630.
Konings, J., Kupets, O., Lehmann, H., 2003. Gross job flows in Ukraine.
Economics of Transition 11 (2), 321–356.
Konings, J., Lehmann, H., Schaffer, M. E., 1996. Job creation and job
destruction in a transition economy: Ownership, firm size, and gross job flows in
Polish manufacturing 1988-91 3 (3), 299–317.
30. Productivity and inequality effects of rapid labor reallocation
Appendix
Articles used in the meta-analysis III
Masso, J., Heshmati, A., 2004. The optimality and overuse of labour in Estonian
manufacturing enterprises. Economics of Transition 12 (4), 683–720.
Siebertova, Z., Senaj, M., 2007. Job creation and job destruction: Evidence from
the Slovak Republic 2000-2004. Ekonomicka T’asopis (Journal of Economics)
55 (2), 107–124.
Sorm, V., Terrell, K., 2000. Sectoral restructuring and labor mobility: A
comparative look at the Czech Republic . Journal of Comparative Economics
28 (3), 431 – 455.
Walsh, P. P., 2003. The cyclical pattern of regional unemployment flows in
Poland. Economic Systems 27 (2), 155–169.
Warzynski, F., 2003. The causes and consequences of sector-level job flows in
Poland. Economics of Transition 11 (2), 357–381.
31. Productivity and inequality effects of rapid labor reallocation
Appendix
Estimates of mean flows
Country
Job Flows Worker flows
Job creation Job destruction Hirings Separations
Mean SD Mean SD Mean SD Mean SD
Bulgaria 4.62 9.54 6.90 3.54
Czech Republic 4.30 0.29 3.72 0.44
Estonia 12.95 22.76 8.87 5.10 26.95 26.43 22.70 10.27
Hungary 3.20 5.44 7.61 1.43
Poland 4.38 3.44 14.35 9.48 17.29 3.29 17.94 3.57
Romania 11.28 24.37 7.80 3.57
Russia 9.15 18.25 10.97 6.34 20.70 3.25 28.07 1.75
Slovenia 7.33 2.62 12.67 3.90
Slovakia 5.28 4.15 7.12 5.92
Ukraine 3.73 4.00 9.64 1.65
Overall 7.99 15.92 9.86 6.18 22.98 21.95 21.08 9.79
Notes: Mean
and standard deviations values of job creation and job destruction for each country, bootstraped with 1000
repetitions.
32. Productivity and inequality effects of rapid labor reallocation
Appendix
Relation to the LiTS
Job creation Job destruction
Specification Coefficient test statistic Coefficient test statistic
Pairwise correlation 0.449*** 3.808 0.328*** 2.554
OLS - no controls 0.524*** 3.359 0.641*** 2.085
OLS - country f.e. 0.345*** 3.317 0.580 1.440
OLS - time f.e. 0.443*** 2.095 0.765*** 2.204
OLS - c. and t. f.e. 0.226 1.382 1.057 * 1.867
33. Productivity and inequality effects of rapid labor reallocation
Appendix
Changes in productivity and inequalities
Figure: Productivity chain index (left) and Gini inequality index (right)