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The Great Recession tested the ability of the "great U.S. jobs machine" to limit the severity of unemployment in a major economic downturn and to restore full employment quickly afterward. In the crisis the American labor market failed to live up to expectations. The level and duration of...
Persistent link: https://www.econbiz.de/10012459074
Workers have responded differently to declining union density in the US and UK. US workers have unfilled demand for unions whereas many UK workers free-ride at unionized workplaces. To explain this difference, we create a scalar measure of worker needs for representation and relate desire for...
Persistent link: https://www.econbiz.de/10012466359
This paper accounts for quality improvements and adjustment costs in all inputs to U.S. manufacturing production. Adjustment processes for non-capital inputs are slower than previously recognized. Annual adjustment percentages are: labor 77, capital 30, energy 20, and materials 21. Factor prices...
Persistent link: https://www.econbiz.de/10012471934
policies in promoting growth of output and privately funded R&D investment in US manufacturing industries. Publicly financed R …
Persistent link: https://www.econbiz.de/10012473830
structure and productivity performance of twelve two-digit U.S. manufacturing industries. The results suggest that there are … significant productive effects from these two types of capital. Their effects on the cost structure vary across industries and … each industry and estimate the 'social' rates of return to these capitals for the industries in their sample …
Persistent link: https://www.econbiz.de/10012475102