scholarly journals Why Does Trend Growth Affect Equilibrium Employment? A New Explanation of an Old Puzzle

2012 ◽  
Vol 102 (4) ◽  
pp. 1378-1413 ◽  
Author(s):  
Michael W. L Elsby ◽  
Matthew D Shapiro
Keyword(s):  
Productivity Growth ◽  
Wage Growth ◽  
Employment Rate ◽  
Combined Effects ◽  
Reservation Wages ◽  
Returns To Experience ◽  
New Evidence ◽  
Trend Growth

That the employment rate appears to respond to changes in trend growth is an enduring macroeconomic puzzle. This paper shows that, in the presence of a return to experience, a slowdown in productivity growth raises reservation wages, thereby lowering aggregate employment. The paper develops new evidence that shows this mechanism is important for explaining the growth-employment puzzle. The combined effects of changes in aggregate wage growth and returns to experience account for all the increase from 1968 to 2006 in nonemployment among low-skilled men and for approximately half the increase in nonemployment among all men. (JEL E24, J24, J31)

scholarly journals Technology and Geography in the Second Industrial Revolution: New Evidence from the Margins of Trade

2017 ◽  
Vol 77 (1) ◽  
pp. 39-89 ◽  
Author(s):  
Michael Huberman ◽  
Christopher M. Meissner ◽  
Kim Oosterlinck
Keyword(s):  
Productivity Growth ◽  
Industrial Revolution ◽  
New Products ◽  
Trade Costs ◽  
Belle Epoque ◽  
Belle Époque ◽  
New Evidence ◽  
The Relationship ◽  
Second Industrial Revolution

Belle Époque Belgium recorded an unprecedented trade boom. Exploiting a new granular trade dataset, we find that the number of products delivered abroad and destinations serviced more than doubled in less than 40 years. To explain this remarkable achievement, we study the relationship between trade costs and the intensive and extensive margins of trade. The establishment of a foreign diplomatic network that lowered beachhead costs and enabled the entry of new products was an essential fact of the trade boom. Interestingly, the expansion in trade in certain sectors did not translate into faster productivity growth. We offer some explanations.

scholarly journals Assessment of the state of social and labor sphere of rural areas in the Ural Federal District

2020 ◽  
Vol 176 ◽  
pp. 06006
Author(s):  
Victoria Kalitskaya ◽  
Andrey Pustuev ◽  
Olga Rykalina ◽  
Irina Perminova ◽  
Olga Mustafina
Keyword(s):  
Human Capital ◽  
Labor Productivity ◽  
Productivity Growth ◽  
Rural Areas ◽  
Agricultural Sector ◽  
Analytical Data ◽  
Wage Growth ◽  
Federal District ◽  
The State ◽  
Number Of Factors

The article presents the author’s calculations of the labor sphere state of rural areas of the Ural Federal District (Russia). It is substantiated that labor (human) capital is the most important element of ensuring the functioning of the entire agrarian sphere. The estimation of labor productivity in the agricultural sector, the rate of wage growth, as well as relative social and labor indicators of the agricultural direction to the general economic is conducted. The authors consider the ratio of agrolabor productivity growth and decrease in the number of workers in this sphere, which is associated with a number of factors, resulting in the construction of a system of sociolabor factors interaction contributing to the development of rural areas, based on analytical data

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