Life cycle earnings, education premiums, and internal rates of return

Manudeep Bhuller, Magne Mogstad, Kjell G. Salvanes 22 September 2014

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Many empirical studies use cross-section data to estimate Mincer regressions of log earnings on years of schooling and (potential) experience (see the review articles by Card 1999, Harmon et al. 2003, Psacharopoulos and Patrinos 2004, and Heckman et al. 2006). The problem of selection bias can be addressed by controlling for correlated determinants of earnings or with an instrumental variable for schooling. However, it is not clear how the coefficient on schooling should be interpreted.

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Topics:  Education Labour markets

Tags:  education, Labour Markets, Mincer regressions, pensions, earnings, schooling, Norway, taxes, education premium, returns to education

Skill gaps, skill shortages, and skill mismatches: Evidence for the US

Peter Cappelli 21 September 2014

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Federal and State governments in the US are giving serious consideration to the idea that the there are important problems with the overall quality of labour in the US. 

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Topics:  Labour markets

Tags:  skill gap, Labour Markets, US, skill mismatches

How immigration benefits natives despite labour market imperfections and income redistribution

Michele Battisti, Gabriel Felbermayr, Giovanni Peri, Panu Poutvaara 08 August 2014

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A fierce policy debate with little insight from economists

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Topics:  Labour markets Migration

Tags:  Labour Markets, unemployment, wages, immigration, redistribution, welfare, Skill Complementarities

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

Untangling trade and technology: Evidence from US labour markets

David Autor interviewed by Viv Davies,

Date Published

Fri, 05/02/2014

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See Also

David H. Autor, David Dorn, Gordon H. Hanson, Untangling Trade and Technology: Evidence from Local Labor Markets, MIT Working Paper, March 2013

 

 

 

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Topics

Productivity and Innovation
Tags
Labour Markets, productivity, relative wages, trade flows

Related Article(s)

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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

Hollowing out and the future of the labour market – the myth

Bob Butcher 17 December 2013

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The 'hollowing out' thesis argues that intermediate-level jobs have been disappearing, and are replaced by a rise in low-level and in high-level jobs, and that this is primarily due to technology replacing routine jobs. That position, however, does not match what is seen in reality.

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Topics:  Labour markets

Tags:  Labour Markets, hollowing out, medium-level jobs

Does offshoring hurt domestic innovation activities?

Bernhard Dachs, Bernd Ebersberger, Steffen Kinkel, Oliver Som 07 September 2013

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Offshoring of production activities has been a topic of economic policy debates for at least the last decade. A central issue in these debates are the economic effects of offshoring on firms in the home country. Most contributions investigated the effects of offshoring on output, employment or skills (see the surveys of Lipsey 2002, Olsen 2006, Crinò 2009) and find a complementary relationship between foreign and domestic economic activity, at least in the long run.

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Topics:  Productivity and Innovation

Tags:  R&D, Labour Markets, offshoring

Small isn’t always beautiful: The cost of French regulation

Luis Garicano, John Van Reenen 30 May 2013

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Slow growth in Europe has led to a debate over whether structural reforms can be used to raise productivity (see Costello et al. 2009, Crafts 2012). Many countries have tough labour regulations which may be a barrier to growth. Quantifying the welfare costs of such regulations has proven elusive, however, and policymakers are reluctant to spend scarce political capital reforming labour laws when the benefits are uncertain and vociferous opposition is assured.

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Topics:  Europe's nations and regions Labour markets

Tags:  France, Labour Markets, Eurozone crisis

Preparing to export

Danielken Molina, Marc Muendler 27 May 2013

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Exporting is an essential feature of strategies for economic development for very good reasons. A large body of empirical evidence shows that exporters are larger, more productive, pay higher wages and hire more skilled workers (Bernard and Jensen 1995). But do firms move from local sales to export sales? What choices do firms make in preparation for exporting? How do these choices affect a firm’s future export performance?

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Topics:  Development

Tags:  Labour Markets, exports, firms

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