scholarly journals Upskilling: Do Employers Demand Greater Skill When Workers Are Plentiful?

2020 ◽  
Vol 102 (4) ◽  
pp. 793-805 ◽  
Author(s):  
Alicia Sasser Modestino ◽  
Daniel Shoag ◽  
Joshua Ballance
Keyword(s):  
Labor Supply ◽  
Great Recession ◽  
Fixed Effects ◽  
Natural Experiment ◽  
Exogenous Shock ◽  
The Great Recession ◽  
Job Title ◽  
Skill Requirements ◽  
Proprietary Database ◽  
Job Postings

Using a proprietary database of online job postings, we find that education and experience requirements rose during the Great Recession. These increases were larger in states and occupations that experienced greater increases in the supply of available workers. This finding is robust to controlling for local demand conditions and firm [Formula: see text] job-title fixed effects and using a natural experiment arising from troop withdrawals as an exogenous shock to labor supply. Our results imply that the increase in unemployed workers during the Great Recession can account for 18% to 25% of the increase in skill requirements between 2007 and 2010.

scholarly journals What Employers Want from Interns: Demand-Side Trends in the Internship Market

2020 ◽  
Author(s):  
Carrie Shandra
Keyword(s):  
Labor Market ◽  
Great Recession ◽  
Career Transition ◽  
The United States ◽  
Demand Side ◽  
Entry Level ◽  
The Great Recession ◽  
Education Experience ◽  
College Career ◽  
Skill Requirements

Internships have become a ubiquitous component of the college-career transition, yet empirical evidence of the internship market is limited. This study uses data from 1.3 million internship postings collected between 2007-2016 in the United States to (1) identify trends in internship education, experience, and skill requirements over the Great Recession and recovery periods; (2) evaluate how these trends correspond to those observed in the traditional labor market; and (3) assess robustness across labor market sectors. Results indicate that internship education and skill requirements increased substantially throughout the recession and recovery periods, indicative of a longer-term structural shift in employer expectations about internship hiring. Additionally, growth in internship education and skill requirements largely outpaced growth in non-internship education and skill requirements over the same period, suggesting potential substitution of non-interns with interns. Post-recession employers still consider internships to be entry-level positions—yet now expect interns to have skills in hand.

scholarly journals Betrayed by the Elites: How Corruption Amplifies the Political Effects of Recessions

2021 ◽  
pp. 001041402110474
Author(s):  
Carlos Sanz ◽  
Albert Solé-Ollé ◽  
Pilar Sorribas-Navarro
Keyword(s):  
Great Recession ◽  
Fixed Effects ◽  
Political Corruption ◽  
The Political ◽  
Difference In Difference ◽  
The Great Recession ◽  
Level Data ◽  
Political Effects ◽  
History Of ◽  
Municipal Level

We investigate whether corruption amplifies the political effects of economic crises. Using Spanish municipal-level data and a difference-in-difference strategy, we find that local unemployment shocks experienced during the Great Recession (2008–2015) increased political fragmentation. This effect was four times larger in municipalities exposed to malfeasance than in municipalities without a history of political corruption. We bolster this evidence by showing that, conditional on province and population strata fixed effects, there is no evidence of differential pre-trends. We also find that the interaction of unemployment and corruption harms the two traditional main parties and benefits especially the new party on the left ( Podemos).

Air Pollution and Trade: The Case of China

2021 ◽  
Vol 16 (2) ◽  
pp. 307-346
Author(s):  
Jin Qin ◽  
◽  
Ivan T. Kandilov ◽  
Roger H. von Haefen ◽  
◽  
...  
Keyword(s):  
Air Pollution ◽  
Sulfur Dioxide ◽  
Great Recession ◽  
Fine Particulate Matter ◽  
Annual Data ◽  
Exogenous Shock ◽  
The Great Recession ◽  
Sulfur Dioxide Emissions ◽  
Percentage Points ◽  
Emissions Intensity

We estimate the effects of trade on air pollution in China. To address endogeneity concerns, we use an instrumental variable strategy that treats the Great Recession as an exogenous shock that differentially affected China’s coastal provinces, which export a greater volume of manufacturing as they are closer to navigable waters. In our empirical analysis, we employ annual data on emissions of sulfur dioxide as well as smoke and dust at the province level from 2003 to 2015 to measure air pollution intensity (the ratio of air pollution to GDP), and we also use fine particulate matter (PM2.5) concentrations data derived from satellite imagery as a robustness check. We find that a decrease in trade intensity (the ratio of trade to GDP) by 10 percentage points (a negative trade shock similar to what occurred during the Great Recession) increases sulfur dioxide emissions intensity by about 38 percentage points. Emissions of the other two air pollutants grow by similar proportions.

scholarly journals As Goes the City? Older Americans’ Home Upkeep in the Aftermath of the Great Recession

2019 ◽  
Vol 67 (2) ◽  
pp. 379-397
Author(s):  
Markus H Schafer ◽  
Jason Settels ◽  
Laura Upenieks
Keyword(s):  
Older Adults ◽  
Great Recession ◽  
Fixed Effects ◽  
Physical Space ◽  
Community Dwelling ◽  
Older Americans ◽  
Individual Level ◽  
The Great Recession ◽  
Fixed Effects Regression ◽  
Community Dwelling Older Adults

Abstract The private home is a crucial site in the aging process, yet the upkeep of this physical space often poses a challenge for community-dwelling older adults. Previous efforts to explain variation in disorderly household conditions have relied on individual-level characteristics, but ecological perspectives propose that home environments are inescapably nested within the dynamic socioeconomic circumstances of surrounding spatial contexts, such as the metro area. We address this ecological embeddedness in the context of the Great Recession, an event in which some U.S. cities saw pronounced and persistent declines across multiple economic indicators while other areas rebounded more rapidly. Panel data (2005–6 and 2010–11) from a national survey of older adults were linked to interviewer home evaluations and city-level economic data. Results from fixed-effects regression support the hypothesis that older adults dwelling in struggling cities experienced an uptick in disorderly household conditions. Findings emphasize the importance of city-specificity when probing effects of a downturn. Observing changes in home upkeep also underscores the myriad ways in which a city’s most vulnerable residents— older adults, in particular—are affected by its economic fortunes.

How Democratic Practice Matters

2019 ◽  
pp. 101-132
Author(s):  
Robert M. Fishman
Keyword(s):  
Civic Engagement ◽  
Welfare State ◽  
Great Recession ◽  
Educational Outcomes ◽  
Test Cases ◽  
Exogenous Shock ◽  
Initial Form ◽  
The Great Recession ◽  
Democratic Practice ◽  
Important Test

This chapter examines a large range of consequences of what the book conceptualizes as “the Iberian divide in political inclusion,” that is, the major contrast between Portugal and Spain in democratic practice. The analysis shows that Portugal has made more progress than Spain creating employment, limiting poverty, and improving educational outcomes. Contrasts in the evolution of the welfare state are taken up along with explanations for the major difference between the neighboring countries in the magnitude of unemployment. Differences in cultural tastes and in patterns of civic engagement are also examined. The chapter identifies and considers possible lines of criticism of the analysis. Evidence from two important test cases that developed after the book’s theoretical claims had been developed in initial form—namely the exogenous shock of the Great Recession and the conflict over the demand for Catalan independence—are taken up separately in other chapters.

Decomposing the Relationship between Macroeconomic Conditions and Fatal Car Crashes during the Great Recession: Alcohol- and Non-Alcohol-Related Accidents

2011 ◽  
Vol 11 (1) ◽  
Author(s):  
Chad Cotti ◽  
Nathan Tefft
Keyword(s):  
Unemployment Rate ◽  
Great Recession ◽  
Fixed Effects ◽  
Accident Rate ◽  
Automobile Accidents ◽  
Fatal Accidents ◽  
Macroeconomic Conditions ◽  
The Great Recession ◽  
Fatal Crashes ◽  
The Relationship

Abstract This paper investigates to what extent and in what ways conditions related to the 2007-2008 recession reduced fatal crashes. It hypothesizes that the reduction in fatal automobile accidents operates through both the quantity of driving and changes in behaviors associated with driving. Using state-by-quarter fixed effects models, the study shows that unemployment rate increases significantly reduce fatal accidents. Decomposing the fatal accident rate into accidents per mile traveled and miles traveled per capita reveals that higher unemployment is significantly associated with fewer accidents per mile, and also reveals that fatal accidents associated with alcohol are more responsive to unemployment rate changes than are accidents overall. These results suggest that the recession’s “lost” fatal accidents occurred in areas hit harder by the recession and were in the form of fewer alcohol-related accidents per mile traveled rather than fewer miles traveled overall.

The Great Recession and Physical Activity of Young Adults

2021 ◽  
pp. 155982762110084
Author(s):  
Shamma Adeeb Alam ◽  
Bijetri Bose
Keyword(s):  
Physical Activity ◽  
Young Adults ◽  
Physical Exercise ◽  
Great Recession ◽  
Fixed Effects ◽  
Negative Impact ◽  
Panel Study ◽  
The Great Recession ◽  
Nationally Representative ◽  
The Impact

Objective. Since physical inactivity has been identified as a pandemic and a public health priority, it is crucial to understand the role of adverse economic shocks on physical activity. In this study, we examine the impact of job losses during the U.S. Great Recession from January 2008 to June 2009 on the likelihood of physical activities of young adults. Methods. We use individual fixed effects estimation on a nationally representative longitudinal data from 2005 to 2015, the Panel Study of Income Dynamics (PSID), to examine the impact of job losses of young adults, their spouses, and their parents on physical exercise of young adults aged 18 to 27 years. Results. Own job losses during the Great Recession led to a decrease in the likelihood of physical exercise among young adults. However, job losses of parents and partners had no effect on the likelihood of young adults’ physical exercise. Conclusion. Our findings indicate a negative impact of the recession on physical activity of young adults and highlights the need for policymakers to consider the impact of major economic downturns on the physical activity of young adults.

scholarly journals Universal resilience patterns in labor markets

2021 ◽  
Vol 12 (1) ◽  
Author(s):  
Esteban Moro ◽  
Morgan R. Frank ◽  
Alex Pentland ◽  
Alex Rutherford ◽  
Manuel Cebrian ◽  
...  
Keyword(s):  
Labor Market ◽  
Labor Markets ◽  
Great Recession ◽  
Urban Policy ◽  
Economic Resilience ◽  
The Great Recession ◽  
Us Economy ◽  
The Us ◽  
Skill Requirements ◽  
Us Cities

AbstractCities are the innovation centers of the US economy, but technological disruptions can exclude workers and inhibit a middle class. Therefore, urban policy must promote the jobs and skills that increase worker pay, create employment, and foster economic resilience. In this paper, we model labor market resilience with an ecologically-inspired job network constructed from the similarity of occupations’ skill requirements. This framework reveals that the economic resilience of cities is universally and uniquely determined by the connectivity within a city’s job network. US cities with greater job connectivity experienced lower unemployment during the Great Recession. Further, cities that increase their job connectivity see increasing wage bills, and workers of embedded occupations enjoy higher wages than their peers elsewhere. Finally, we show how job connectivity may clarify the augmenting and deleterious impact of automation in US cities. Policies that promote labor connectivity may grow labor markets and promote economic resilience.

scholarly journals Productivity in Europe during the Great Recession: Any evidence for creative destruction?

2017 ◽  
Vol 5 (2) ◽  
pp. 82
Author(s):  
Gonzalo Paz Pardo
Keyword(s):  
Financial Crisis ◽  
Great Recession ◽  
Fixed Effects ◽  
Growth Models ◽  
Labour Force ◽  
Creative Destruction ◽  
Balance Sheets ◽  
The Great Recession ◽  
Theoretical Predictions ◽  
Endogenous Growth Models

This article analyses the effects of the financial crisis and the Great Recession on productivity in Europe by studying the process of labour force reallocation between companies. Using micro-data on company balance sheets, a fixed-effects panel estimation of the predictors of the post-crisis evolution of the number of employees for a given company is used. Identification is achieved through the use of pre-crisis values of covariates. The results are in line with the theoretical predictions derived from Schumpeterian (“creative destruction”) endogenous growth models. Pre-crisis productivity is a predictor of a higher number of employees, which means creative destruction is taking place to some extent. Companies in financially dependent sectors perform worse in the context of the financial crisis. Indebtedness has an uneven effect: positive for large companies and negative for smaller ones.

scholarly journals Health Outcomes Before, During and After the Great Recession in Canada: A Longitudinal Analysis

2020 ◽  
Vol 12 (1) ◽  
pp. 59-72
Author(s):  
Ehsan Latif
Keyword(s):  
Health Status ◽  
Great Recession ◽  
Fixed Effects ◽  
Least Square Method ◽  
Least Square ◽  
The Great Recession ◽  
Reported Health ◽  
Self Reported Health Status ◽  
Probit Method ◽  
Panel Fixed Effects

Using panel data from Canadian National Population Health Survey (2006-2011), this study examined what happened to individuals’ self-reported health during and in the aftermath of great recession of 2008-2009. The study used different methods such as ordered probit method, ordinary least square method and panel fixed effects method. Once individual specific fixed effects are controlled for, the results show that great recession had no statistically significant detrimental impact on self-reported health status. The results further show that health status in the aftermath of great recession did not significantly differ from the health status before the great recession.

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