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The problem of economic development,' as Lucas (1988) states it, is the problem of accounting for the observed diversity in levels and rates of growth of per capita income across countries and across time. We study conditions under which capital mobility and labor mobility (two seemingly...
Persistent link: https://www.econbiz.de/10012471679
distribution of incomes and employment, to consider explicit measures of well-being, which have been shown to depend on far more …
Persistent link: https://www.econbiz.de/10012467742
How does growing international financial diversification affect firm-level and aggregate labor shares? We study this question using a novel framework of firm labor choice in the face of aggregate risk. The theory implies a cross-section of labor risk premia and labor shares that appear as...
Persistent link: https://www.econbiz.de/10014250185
greater flexibility in wages, these two countries also exhibit more stable employment behavior over the business cycle. In …
Persistent link: https://www.econbiz.de/10012478304
Standard models suggest that adverse labor demand shocks will lead to bigger employment losses if institutional factors … explains the contrast between the United States, where real wages fell over the 1980s and aggregate employment expanded … vigorously, and Europe, where real wages were (roughly) constant and employment was stagnant. We test this hypothesis by …
Persistent link: https://www.econbiz.de/10012473372
A new lifecycle of women's employment emerged with cohorts born in the 1950s. For prior cohorts, lifecycle employment … new lifecycle of employment is initially high and flat, there is a dip in the middle and a phasing out that is more … and greater labor force recovery for those who take paid or unpaid leave. Increased employment of women in their older …
Persistent link: https://www.econbiz.de/10012455767
cohorts. It would appear that employment at older ages could stagnate or even decrease. But several other factors will be …
Persistent link: https://www.econbiz.de/10012456072
other countries. However, these policies also appear to encourage part-time work and employment in lower level positions: US …
Persistent link: https://www.econbiz.de/10012459963
Persistent link: https://www.econbiz.de/10013480749
Due to population aging, GDP growth per capita and GDP growth per working-age adult have become quite different among many advanced economies over the last several decades. Countries whose GDP growth per capita performance has been lackluster, like Japan, have done surprisingly well in terms of...
Persistent link: https://www.econbiz.de/10014437045