This paper analyzes the effects of environmental policy on employment (and unemployment) using a new general-equilibrium two-sector search model. We find that imposing a pollution tax causes substantial reductions in employment in the regulated (polluting) industry, but this is offset by...

In 1966, the philosopher Michael Polanyi observed, "We can know more than we can tell... The skill of a driver cannot be replaced by a thorough schooling in the theory of the motorcar; the knowledge I have of my own body differs altogether from the knowledge of its physiology." Polanyi's...

U.S. labor markets became much less fluid in recent decades. Job reallocation rates fell more than a quarter after 1990, and worker reallocation rates fell more than a quarter after 2000. The declines cut across states, industries and demographic groups defined by age, gender and education....

Openness to international competition can lead to enhanced resource allocation in the end. While factor reallocation is essential if net benefits are to be derived from trade liberalization, the process generates costs both for transitioning workers and for employers undergoing personnel...

One of the distinctive features of national employment is that net increases in employment are concentrated in the Capital area. From 2005 to 2011, about 77.1% of the total increase in employment occurred in Seoul, Gyeonggi and Incheon. The percentage for these capital areas had stood at about...

Korea had one of the fastest growing economies in the world from the onset of industrialization in the early 1960s to the late 1990s. Korea’s economic development in those years had been based on industrialization that emphasized manufacturing rather than service industries. However, the...

Over the last decades, the intensification of offshoring movements has generated important impacts on labour markets. The literature on this topic has, however, produced divergent results. We develop a meta-analysis of the empirical literature that estimates the effect of offshoring on...