responsibility (CSR) activities, affects firm performance during the 2008-2009 financial crisis. We find that high-CSR firms have … crisis-period stock returns that are four to five percentage points higher than low-CSR firms, all else equal. In contrast …, we find no difference in returns between high- and low-CSR firms either before or after the crisis. During the crisis …

“Best Companies to Work For” in 14 countries. We show that employee satisfaction is associated with positive abnormal … returns in countries with high labor market flexibility, such as the U.S. and U.K., but not in countries with low labor market …

(CSR) activities. We model CSR activities as an investment in customer loyalty and show that CSR decreases systematic risk …' expenditure share on CSR goods is small. We find supporting evidence for our predictions. In our empirical tests, we address a … potential endogeneity problem by instrumenting CSR using data on the political affiliation of the firm's home state, and data on …

We study the determination of Irish inflation between 1926 and 2012. The difference between unemployment and the NAIRU …

accounting for the effects of unemployment on individual wages using EU-SILC data. Across countries we find a high variation of … the indirect wage effect resulting from lower unemployment risks and shorter spells in unemployment associated with higher … educated. We analyse the returns to education in Austria, Germany, Italy, Sweden and the United Kingdom, countries which differ …

This paper develops a theory characterizing the effects of fiscal policy on unemployment over the business cycle. The … theory is based on a model of equilibrium unemployment in which jobs are rationed in recessions. Fiscal policy in the form of … government spending on public-sector jobs reduces unemployment, especially during recessions: the fiscal multiplier …