Fracking has driven an oil and natural gas boom in the US over the past decade. This column examines the impact these mining activities have had on local and regional economies. US counties enjoy significant economic benefits, including increased wages and new job creation. These effects grow as the geographic radius is extended to include neighbouring areas in the region. The results suggest that the fracking boom provided some insulation for these areas during the Great Recession, and lowered national unemployment by as much as 0.5%.
James Feyrer, Erin T. Mansur, Bruce Sacerdote, Monday, November 16, 2015 - 00:00
Luca Flabbi, Mario Macis, Andrea Moro, Fabiano Schivardi, Friday, April 24, 2015 - 00:00
Despite the convergence between men and women in many labour market indicators, women are still vastly underrepresented at the boardroom level. Using Italian data, this column presents new evidence on the impact of having a female CEO on the distribution of wages for male and female workers within firms. Female CEOs are shown to reduce the gender wage gap at the top of the wage distribution but widen it at the bottom. The authors also show that firms with female CEOs perform better, the higher the fraction of women in the firm’s workforce.
Juan Carluccio, Denis Fougère, Erwan Gautier, Tuesday, April 14, 2015 - 00:00
Jason Furman, Friday, February 20, 2015 - 00:00
Kirill Shakhnov, Saturday, January 17, 2015 - 00:00
Masayuki Morikawa, Sunday, November 23, 2014 - 00:00
Charles A.E. Goodhart, Philipp Erfurth, Monday, November 3, 2014 - 00:00
Florian Mayneris, Sandra Poncet, Monday, October 13, 2014 - 00:00
Frédéric Docquier, Çağlar Özden, Giovanni Peri, Monday, October 6, 2014 - 00:00
Daron Acemoglu, Gino Gancia, Fabrizio Zilibotti, Tuesday, September 30, 2014 - 00:00
David Blanchflower, Stephen Machin, Monday, September 29, 2014 - 00:00
Joanne Lindley, Steven McIntosh, Sunday, September 21, 2014 - 00:00
Benedicta Marzinotto, Alessandro Turrini, Friday, September 5, 2014 - 00:00
Michele Battisti, Gabriel Felbermayr, Giovanni Peri, Panu Poutvaara, Friday, August 8, 2014 - 00:00
Immigration continues to be a hotly debated topic in most OECD countries. Economic models emphasising the benefits of immigration for natives have typically neglected unemployment and redistribution – precisely the things voters are most concerned about. This column analyses the effects of immigration in a world with labour market rigidities and income redistribution. In two-thirds of the 20 countries analysed, both high-skilled and low-skilled natives would benefit from a small increase in immigration from current levels. The average welfare gains from immigration are 1.25% and 1.00% for high- and low-skilled natives, respectively.
Maria Bas, Vanessa Strauss-Kahn, Monday, July 14, 2014 - 00:00
The rise of trade in intermediate inputs is well documented, but its role in shaping domestic economies is not yet completely understood. This column presents evidence from French firms on the effects of importing intermediate inputs. Firms importing more varieties of intermediate inputs increased their productivity and exported more varieties. Foreign inputs from the most advanced economies have the strongest effect on firm productivity, but imported inputs from all countries help raise the number of export varieties.
Kerem Cosar, Nezih Guner, James R Tybout, Monday, July 7, 2014 - 00:00
Trade liberalisations are often accompanied by labour market reforms, making it difficult to isolate their effects. This column discusses the effects of trade liberalisation, globalisation, and labour-market reforms on the Colombian labour market. Reduced trade frictions increased cross-firm wage inequality and shifted the firm-size distribution rightward, with offsetting effects on overall wage inequality. Average income increased, but the gains were concentrated among employees of large, productive firms with access to export markets. Greater trade openness also increased job turnover.
Giovanni Peri, Kevin Shih, Chad Sparber, Thursday, May 29, 2014 - 00:00
Immigrants to the US are drawn from both ends of the education spectrum. This column looks at the effect of highly educated immigrants – in particular, those with degrees in Science, Technology, Engineering, or Mathematics – on total factor productivity growth. The authors find that foreign STEM workers can explain 30% to 60% of US TFP growth between 1990 and 2010.
David Blanchflower, Stephen Machin, Monday, May 12, 2014 - 00:00
The pain of the UK’s Great Recession has been spread more evenly than previous downturns, with falling real wages across the distribution. This column asks why this happened, how it compares with the US experience, and what the prospects are for recovering lost wage gains.
Theodore H. Moran, Lindsay Oldenski, Tuesday, March 4, 2014 - 00:00
The US has once again ranked among the top two recipient countries for foreign direct investment. This column examines the effects of these large FDI inflows on the US domestic economy. Foreign multinationals are – alongside US-headquartered American multinationals – the most productive and highest-paying segment of the US economy. In addition, they provide positive spillovers to US firms. About 12% of the total productivity growth in the US from 1987 to 2007 can be attributed to productivity spillovers from inward FDI.
Nicholas Crafts, Nikolaus Wolf, Tuesday, October 22, 2013 - 00:00
Europeans worry about competition from low-wage economies. This column looks at the basis of the success of the 19th-century Lancashire cotton industry faced with a similar situation. The message is that the productivity benefits of a successful agglomeration can underpin both high wages and competitive advantage in world trade. Policymakers can support such agglomerations by easing land-use restrictions, promoting investments in transport, and providing local public goods.