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Employment Time And The Cyclicality Of Earnings Growth

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Employment Time And The Cyclicality Of Earnings Growth

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Author : Eran B. Hoffmann
language : en
Publisher: International Monetary Fund
Release Date : 2018-05-16

Employment Time And The Cyclicality Of Earnings Growth written by Eran B. Hoffmann and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-05-16 with Business & Economics categories.

We study how the distribution of earnings growth evolves over the business cycle in Italy. We distinguish between two sources of annual earnings growth: changes in employment time (number of weeks of employment within a year) and changes in weekly earnings. Changes in employment time generate the tails of the earnings growth distribution, and account for the increased dispersion and negative skewness in the distribution of earnings growth in recessions. In contrast, the cross-sectional distribution of weekly earnings growth is symmetric and stable over the cycle. Thus, models that rely on cyclical idiosyncratic risk, should separately account for the employment margin in their earnings process to avoid erroneous conclusions. We propose such a process, based on the combination of simple employment and wage processes with few parameters, and show that it captures the procyclical skewness in changes in earnings growth and other important features of its distribution.

Employment Time And The Cyclicality Of Earnings Growth

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Author : Eran B. Hoffmann
language : en
Publisher: International Monetary Fund
Release Date : 2018-05-16

Jobs Earnings And Employment Growth Policies In The United States

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Author : John D. Kasarda
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06

Jobs Earnings And Employment Growth Policies In The United States written by John D. Kasarda and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Business & Economics categories.

John D. Kasarda By all accounts, the United States has led the world in job creation. During the past 20 years, its economy added nearly 40 million jobs while the combined European Economic Community added none. Since 1983 alone, the U. S. gener ated more than 15 million jobs and its unemployment rate dropped from 7. 5 percent to approximately 5 percent while the unemployment rate in much of western Europe climbed to double digits. Even Japan's job creation record pales in comparison to the United States'. with its annual employment growth rate less than half that of the United States over the past 15 years (0. 8 percent vs. 2 percent. ) Yet, as the U. S. economy has been churning out millions of jobs annually, con flicting views and heated debates have emerged regarding the quality of these new jobs and its implications for standards of living and U. S. economic competi tiveness. Many argue that the "great American job machine" is a "mirage" or "grand illusion. " Rather than adding productive, secure, well-paying jobs, most new employment, critics contend, consists of poverty level, dead-end, service sector jobs that contribute little or nothing to the nation's productivity and inter national competitiveness. Much of the blame is placed on Reagan-Bush policies that critics say undermine labor unions, encourage wasteful corporate restructur ing, foster exploitative labor practices, and reduce fiscal support for education and needed social services.

Work Earnings And Other Aspects Of The Employment Relation

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Author : Solomon W. Polachek
language : en
Publisher: Emerald Group Publishing
Release Date : 2008-10-01

Work Earnings And Other Aspects Of The Employment Relation written by Solomon W. Polachek and has been published by Emerald Group Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-10-01 with Business & Economics categories.

Covers various aspects of the employer-employee relationship. This book answers labor market questions that include: Why has part-time work increased so dramatically in the 15 European Union countries? What changes in retirement behavior will be expected as countries change pension laws? And, why do firms often use fixed-term employment contracts?

Earnings Growth And Employment Stability Of Workforce Entrants

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Author : Frederick J. Tannery
language : en
Publisher:
Release Date : 1995

Earnings Growth And Employment Stability Of Workforce Entrants written by Frederick J. Tannery and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995 with Employment (Economic theory) categories.

Labor Markets And Business Cycles

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Author : Robert Shimer
language : en
Publisher: Princeton University Press
Release Date : 2010-04-12

Labor Markets And Business Cycles written by Robert Shimer and has been published by Princeton University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-04-12 with Business & Economics categories.

Labor Markets and Business Cycles integrates search and matching theory with the neoclassical growth model to better understand labor market outcomes. Robert Shimer shows analytically and quantitatively that rigid wages are important for explaining the volatile behavior of the unemployment rate in business cycles. The book focuses on the labor wedge that arises when the marginal rate of substitution between consumption and leisure does not equal the marginal product of labor. According to competitive models of the labor market, the labor wedge should be constant and equal to the labor income tax rate. But in U.S. data, the wedge is strongly countercyclical, making it seem as if recessions are periods when workers are dissuaded from working and firms are dissuaded from hiring because of an increase in the labor income tax rate. When job searches are time consuming and wages are flexible, search frictions--the cost of a job search--act like labor adjustment costs, further exacerbating inconsistencies between the competitive model and data. The book shows that wage rigidities can reconcile the search model with the data, providing a quantitatively more accurate depiction of labor markets, consumption, and investment dynamics. Developing detailed search and matching models, Labor Markets and Business Cycles will be the main reference for those interested in the intersection of labor market dynamics and business cycle research.

Earnings Growth Job Flows And Churn

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Author : Satoshi Tanaka
language : en
Publisher:
Release Date : 2020

Earnings Growth Job Flows And Churn written by Satoshi Tanaka and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020 with categories.

Trends In American Economic Growth

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Author : Edward Denison
language : en
Publisher: Brookings Institution Press
Release Date : 2011-10-01

Trends In American Economic Growth written by Edward Denison and has been published by Brookings Institution Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-10-01 with Business & Economics categories.

The growth rate of national income has fluctuated widely in the United States since 1929. In this volume, Edward F. Denison uses the growth accounting methodology he pioneered and refined in earlier studies to track changes in the trend of output and its determinants. At every step he systematically distinguishes changes in the economy’s ability to produce—as measured by his series on potential national income—from changes in the ratio of actual output to potential output. Using data for earlier years as a backdrop, Denison focuses on the dramatic decline in the growth of potential national income that started in 1974 and was further accentuated beginning in 1980, and on the pronounced decline from business cycle to business cycle in the average ratio of actual to potential output, a slide under way since 1969. The decline in growth rates has been especially pronounced in national income per person employed and other productivity measures as growth of total output has slowed despite a sharp acceleration in growth of employment and total hours at work. Denison organizes his discussion around eight table that divide 1929-82 into three long periods (the last, 1973-82) and seven shorter periods (the most recent, 1973-79 and 1979-82). These tables provide estimates of the sources of growth for eight output measures in each period. Denison stresses that the 1973-82 period of slow growth in unfinished. He observes no improvement in the productivity trend, only a weak cyclical recovery from a 1982 low. Sources-of-growth tables isolate the contributions made to growth between “input” and “output per unit of input.” Even so, it is not possible to quantify separately the contribution of all determinants, and Denison evaluates qualitatively the effects of other developments on the productivity slowdown.

Job Polarization And The Declining Fortunes Of The Young Evidence From The United Kingdom

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Author : Ms.Era Dabla-Norris
language : en
Publisher: International Monetary Fund
Release Date : 2019-10-11

Job Polarization And The Declining Fortunes Of The Young Evidence From The United Kingdom written by Ms.Era Dabla-Norris and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-10-11 with Business & Economics categories.

This paper uses a life-cycle framework to document new stylized facts about the nexus between job polarization and earnings inequality. Using quarterly labor force data for the UK over the period 2000-2018, we find clear life-cycle profiles in the probability of being employed within each occupation type and wages earned therein. Cohort plots and econometric analysis suggest that labor market outcomes and prospects have gradually worsened for the young. These adverse trends are particularly significant for low-skill women: estimated cohort effects point to a fall in wages within each occupation as well as a lower propensity of being employed in abstract-task occupations. We also find evidence of general occupational downgrading in the UK, with more educated workers taking up fewer high-skill occupations than they did in the past. Our analysis informs the policy debate over appropriate measures needed to reduce skill mismatches and alleviate labor market transitions.

Movin On Up

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Author : Alan Manning
language : en
Publisher:
Release Date : 1998

Movin On Up written by Alan Manning and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998 with Career development categories.

Employment Time And The Cyclicality Of Earnings Growth

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