Although negative shocks have persistent effects on output on average, this paper shows that macroeconomic policies and the structure of the economy can influence the speed of recovery and mitigate the persistence of the shock. Indeed, monetary and fiscal stimulus and foreign aid can spur a...

Contents -- I. INTRODUCTION -- II. HOW GLOBALIZED IS LABOR? -- III. HOW HAS THE GLOBALIZATION OF LABOR AFFECTED WORKERS IN ADVANCED ECONOMIES -- IV. LABOR SHARE AND THE GLOBALIZATION OF LABOR: AN EMPIRICAL EXAMINATION -- V. THE STORY BEHIND THE DECLINE OF THE LABOR SHARE -- VI. LABOR...