The US manufacturing base is surprisingly strong

Theodore H. Moran, Lindsay Oldenski 09 August 2014

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Recently, a number of studies, descriptive employment statistics, and statements by US politicians have raised concerns about the strength of US manufacturing. For example, in a January 2014 Journal of Economic Perspectives article, Martin Baily and Barry Bosworth expressed concern about the recent absolute decline in US manufacturing employment, as well as the long-recognised decreasing share of manufacturing within overall US employment.

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Topics:  Industrial organisation Productivity and Innovation

Tags:  employment, multinationals, offshoring, US manufacturing

Employee satisfaction and firm value: A global perspective

Alex Edmans 25 July 2014

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Is employee satisfaction good or bad for firm value? While it may seem natural that companies should do better if their workers are happier, this relationship is far from obvious. The 20th-century way of managing workers (e.g. Taylor 1911) is to view them as any other input – just as managers shouldn’t overpay for or underutilise raw materials, they shouldn’t do so with workers. High worker satisfaction may be a sign that workers are overpaid or underworked. However, the world is different nowadays.

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Topics:  Labour markets Microeconomic regulation Productivity and Innovation

Tags:  employment, Labour Markets, productivity, Management, happiness, Stock returns, labour-market flexibility, employment protection, work, employee satisfaction, worker satisfaction, profits, labour-market regulation

Sourcing foreign inputs to improve firm performance

Maria Bas, Vanessa Strauss-Kahn 14 July 2014

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Should trade policy fight or promote imports of intermediate inputs? While several studies have shown the recent increase in imports of intermediate goods, their role in shaping domestic economies is not yet completely understood. Following the work of Feenstra and Hanson (1996), a large literature focuses on the impact of imported intermediate inputs on employment and inequality. It concludes that, like outsourcing, imported intermediate inputs have a role (although limited) in explaining job losses and wage reductions.

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Topics:  International trade

Tags:  employment, productivity, wages, Inequality, trade, exports, outsourcing, imports, global value chains, Intermediate inputs

DynEmp: New cross-country evidence on the role of young firms in job creation, growth, and innovation

Chiara Criscuolo, Peter N. Gal, Carlo Menon 26 May 2014

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Since well before the crisis, many OECD economies have been confronted with sluggish productivity growth. In the aftermath of the crisis, job creation has also stalled and has become an important policy issue. Business dynamics are at the core of the creative destruction process. Available evidence points to significant cross-country heterogeneity in the dynamism of businesses, even after taking into account differences in sectoral composition. This raises policymakers’ interest in understanding the role of framework conditions in this area.

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Topics:  Labour markets Productivity and Innovation

Tags:  R&D, employment, growth, OECD, job creation, business cycles, firms, start-ups

Firm age, investment opportunities, and job creation

Manuel Adelino, Song Ma, David Robinson 12 February 2014

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Economists have long been concerned with understanding how firms respond to changing investment opportunities. Indeed, this question is central to ongoing policy discussions about economic growth and job creation, since the way firms create jobs is by increasing investment and employment in response to new economic opportunities. The startup process and economic growth are deeply interconnected – over the last 30 years, young firms were responsible for almost all net job creation in the economy (Haltiwanger et al. 2009, 2013, Stangler and Litan 2009).

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Topics:  Financial markets Labour markets Productivity and Innovation

Tags:  employment, US, growth, entrepreneurship, job creation, firm age

Minimum wages: the effects on employment and labour-force turnover

Pierre Brochu, David A Green 22 January 2014

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On 14 January 2014 a group of 75 economists, including seven Nobel laureates, released a letter calling for an increase in the US minimum wage (Woellert 2014). At the same time, George Osborne, the Conservative Chancellor of the Exchequer in the UK, has called for the minimum wage in that country to rise by more than the rate of inflation this year (BBC 2014). In both cases, the key argument for an increase concerns a need for fairness in insuring that the lowest paid workers share in the benefits of post-recession economic growth.

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Topics:  Labour markets

Tags:  employment, Labour Markets, minimum wage

Jobs: The next piece of Africa’s growth jigsaw

David Fine, Susan Lund 04 December 2012

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Africa’s recent economic performance has been impressive. With average annual growth of 5.1% over the past ten years, the continent is the second fastest-growing region in the world (IMF 2012). The share of people in extreme poverty is falling. Since 2000, 31 million African households have joined a 90 million-strong consuming class with discretionary income to spend or save1.

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Topics:  Development Labour markets

Tags:  employment, unemployment, Africa, labour

Confronting the jobs crisis under tight fiscal constraints

Benedict Clements, Ruud de Mooij, Gerd Schwartz 09 September 2012

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The economic and social consequences of job losses since the onset of the global crisis have been enormous, as Ben Bernanke recently pointed out (Bernanke 2012). Unemployment rates have soared to an average of 11% in the Eurozone in mid-2012, and youth unemployment has reached alarming levels in many places, exceeding 50% in Greece and Spain.

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Topics:  Macroeconomic policy

Tags:  employment, fiscal policy, jobs, austerity

Vocational education facilitates entry into the labour market but hurts employment at older ages

Eric Hanushek, Ludger Woessmann, Lei Zhang 21 November 2011

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Responding in part to the economic downturn, the European Commission (2010) recently issued the Bruges Communiqué that called for enhanced vocational education and training (VET). It argued: “If Europe is to maintain its position as the strongest exporter of industrial products in the world, it must have world class VET.

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Topics:  Labour markets

Tags:  employment, vocational education, general education

Is short-time work a good method to keep unemployment down?

Pierre Cahuc, Stéphane Carcillo,

Date Published

Mon, 01/24/2011

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