Prior to 2020, the Great Recession was the most important macroeconomic shock to the United States economy in generations. Millions lost jobs and homes. At its peak, one in ten workers who wanted a job could not find one. On an annual basis, the economy contracted by more than it had since the...

Deindustrialization in advanced countries (especially in the United States) has been discussed since the 1980s, but what we actually have observed is a distinct pattern of employment deindustrialization rather than a severe decline in the output share of manufacturing. Meanwhile, the service...

Jobless growth in the South Korean manufacturing industry has been observed since 2015. Even as total value added in the manufacturing sector is continuously growing, manufacturing employment levels are decreasing; this pattern first emerged in the 1990s, lasting for a decade. The decoupling of...

Prior to 2020, the Great Recession was the most important macroeconomic shock to the United States economy in generations. Millions lost jobs and homes. At its peak, one in ten workers who wanted a job could not find one. On an annual basis, the economy contracted by more than it had since the...

We analyze investment decisions when information is costly, with and without delegation to an agent. We use a rational-inattention model and compare it with a canonical signal-extraction model. We identify three "investment conditions". In "sour" conditions, no information is acquired and no...

Over the 1948-2013 period, many factors significantly impacted on human capital, which in turn affected economic growth in the United States. This chapter analyzes these factors within a complete national income accounting system which integrates Jorgenson-Fraumeni human capital into the...

Gut zwei Drittel aller Arbeitsstellen in Liechtenstein sind mit Ausländern besetzt. Der vorliegende Beitrag untersucht mögliche Auswirkungen der hohen Ausländerbeschäftigung auf Produktion, Wachstum und Verteilung in Liechtenstein. Unterschieden werden die drei Beschäftigungssegmente...