scholarly journals The twilight of neoliberalism in the USA?

2021 ◽  
Vol 18 (2) ◽  
pp. 119-144
Author(s):  
Trevor Evans
Keyword(s):  
Government Spending ◽  
Unemployment Benefits ◽  
Skilled Workers ◽  
Top Incomes ◽  
The Us ◽  
National Response ◽  
The Usa ◽  
The Rich ◽  
A Minor ◽  
The Impact

The US economic expansion which began in 2009 was unusually prolonged but relatively weak. Profitability and investment strengthened between 2010 and 2015 but then began to falter. After Trump took office in 2017 there was a minor recovery in investment but the proceeds of major tax cuts were overwhelmingly used to finance payouts to share owners. Unemployment fell steadily from 2010 but with a shift towards lower-paid jobs. Median wages increased from around 2014, but while those for women had risen steadily since the 1980s, those for men only recuperated to their 1980 level in 2018. By contrast, top incomes soared. The impact of the COVID-19 epidemic was partly cushioned by huge government spending programmes, but unemployment among less-skilled workers increased strongly, while the massive monetary response led to an unprecedented bonanza for the rich. The Biden government's first major initiative extended unemployment benefits and promoted a national response to the health emergency, but failed to secure an increase in the national minimum wage to $15 an hour.

The dollar, trade, technology and inequality in the USA

1998 ◽  
Vol 166 ◽  
pp. 78-86 ◽  
Author(s):  
Bob Anderton ◽  
Paul Brenton
Keyword(s):  
Technological Change ◽  
Relative Wage ◽  
Skilled Workers ◽  
Wage Bill ◽  
Sudden Rise ◽  
The Us ◽  
The Usa ◽  
Trade Competitiveness ◽  
The Impact ◽  
High Skill

The US experienced a considerable increase in inequality between skilled and less-skilled workers during the early 1980s—a period which corresponds with a large temporary appreciation of the dollar. This article investigates the reasons behind this rise in inequality by evaluating the impact of trade with low-wage countries (LWCs) and technological change on the wage bill share of skilled workers (which is designed to capture movements in inequality arising from changes in both the relative wage and employment opportunities of the less-skilled). We find that an increase in US imports from LWCs—encouraged by the large appreciation of the dollar in the early 1980s—seems to explain some of the rise in US inequality in low-skill-intensive sectors, but that technological change (proxied by R&D expenditure) explains the rise in inequality in high-skill-intensive sectors. However, given that the timing of the sudden rise in US R&D expenditure corresponds with the appreciation of the dollar, it may be the case that the deterioration in US trade competitiveness during this period contributed to the rapid increase in the rate of technological change via mechanisms such as ‘defensive innovation’. Hence one might also argue that the technology-based explanation for the rise in US inequality could actually be a trade-based explanation.

The effects of debt restructurings on income inequality in the developing world

2021 ◽  
pp. 135406612110014
Author(s):  
Glen Biglaiser ◽  
Ronald J. McGauvran
Keyword(s):  
Developing Countries ◽  
Panel Data ◽  
Income Inequality ◽  
Income Distribution ◽  
Government Spending ◽  
Tax Reform ◽  
Social Spending ◽  
The Poor ◽  
The Rich ◽  
The Impact

Developing countries, saddled with debts, often prefer investors absorb losses through debt restructurings. By not making full repayments, debtor governments could increase social spending, serving poorer constituents, and, in turn, lowering income inequality. Alternatively, debtor governments could reduce taxes and cut government spending, bolstering the assets of the rich at the expense of the poor. Using panel data for 71 developing countries from 1986 to 2016, we assess the effects of debt restructurings on societal income distribution. Specifically, we study the impact of debt restructurings on social spending, tax reform, and income inequality. We find that countries receiving debt restructurings tend to use their newly acquired economic flexibility to reduce taxes and lower social spending, worsening income inequality. The results are also robust to different model specifications. Our study contributes to the globalization and the poor debate, suggesting the economic harm caused to the less well-off following debt restructurings.

The speed of change and performance risk: examining the impacts of IT spending in the US hotel industry

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Nan Hua ◽  
Tingting Zhang ◽  
Melissa F. Jahromi ◽  
Agnes DeFranco
Keyword(s):  
Business Performance ◽  
Positive Impact ◽  
Hotel Industry ◽  
Content Type ◽  
Performance Risk ◽  
The Us ◽  
The Usa ◽  
Revenue Volatility ◽  
The Impact ◽  
Speed Accuracy

Purpose This study aims to investigate the impact of the speed of change (trend) in information technology (IT) expenditures on performance risk indicated by revenue volatility in the US hotel industry. Design/methodology/approach To systematically investigate the impacts of IT expenditures on hotel performance risks, this study collects the same store proprietary data of 1,471 hotel properties from CBRE, a leading hotel consulting firm in the USA, from 2011 to 2017, with a total of 10,297 observations. Findings Econometric analyses are performed and results indicate a significant and positive impact of the speed of change of IT systems expenditures on the performance risk after comprehensively controlling for confounding factors following prior research. Originality/value With the increased importance of IT in day-to-day activities, hospitality business owners have started to quickly adjust their investment in IT infrastructure and superstructure to enhance their business performance. However, their fast-changing expenditures may introduce more risks to their businesses based on the speed–accuracy tradeoff, systems theory and the Schumpeterian Growth Model. This study is one of the pioneer projects that ever assessed the impact of IT expenditure and speed of change on performance risks of hotels.

MO545INSIDE ANEMIA OF CKD: ESTIMATING THE IMPACT OF POLICY INTERVENTIONS ON ANAEMIA OF CKD IN THE USA BY MICROSIMULATION MODELLING

2021 ◽  
Vol 36 (Supplement_1) ◽  
Author(s):  
Lise Retat ◽  
Laura Webber ◽  
Juan Jose Garcia Sanchez ◽  
Claudia Cabrera ◽  
Susan Grandy ◽  
...  
Keyword(s):  
Healthcare Costs ◽  
Severe Anaemia ◽  
Service Planning ◽  
Microsimulation Model ◽  
Model Framework ◽  
The Us ◽  
The Usa ◽  
Direct Healthcare Costs ◽  
The Impact ◽  
Intervention Scenario

Abstract Background and Aims Anaemia is a common complication in patients with chronic kidney disease (CKD) and is associated with increased mortality, cardiovascular complications, reduced quality of life and increased use of healthcare resources. Mathematical modelling based on robust epidemiological and clinical data is a useful approach for predicting the future burden of disease and the impact of different intervention scenarios; this is important for health service planning. This analysis uses a microsimulation model, Inside ANEMIA of CKD, to predict the effects of a hypothetical intervention scenario that reduces the prevalence of anaemia of CKD on related healthcare costs in the USA from 2020 to 2025. Method A virtual cohort representing the US population was created within the Inside ANEMIA of CKD microsimulation model framework using demographics and epidemiological data drawn from the US Census Bureau, the Centers for Disease Control and Prevention, and the National Health and Nutrition Examination Survey. In the cohort, virtual individuals were ascribed an age–sex-stratified CKD status (defined by estimated glomerular filtration rate and albuminuria levels, as per international guidelines) and anaemia status (defined by haemoglobin level as mild, moderate or severe, as per WHO criteria) based on US prevalence data. Key comorbidities (type 2 diabetes, heart failure and hypertension) were also assigned, reflecting US-specific population statistics. Healthcare costs related to CKD and anaemia of CKD were taken from the published literature. The study modelled the effects on healthcare costs of a hypothetical intervention scenario in which the prevalence of moderate and severe anaemia is reduced by 20% per year from 2020 to 2025 compared with no intervention (baseline). In each scenario (i.e. intervention or baseline), the modelling analysis estimated healthcare costs related to CKD and anaemia (including inpatient, outpatient, pharmacy costs) for patients with moderate or severe anaemia of CKD. The model did not adjust for the potential costs of the intervention. Results Preliminary results predict that, with the hypothetical intervention, there could be 1.40 million fewer patients with moderate or severe anaemia of CKD in the USA in 2025 compared with no intervention (1.45 million versus 2.85 million). This represents a 49% reduction in cases of moderate or severe anaemia of CKD in 2025 with the intervention versus no intervention. The intervention is projected to lead to a reduction of approximately US$18 billion in annual direct healthcare costs in 2025 for patients with moderate or severe anaemia of CKD compared with no intervention (US$26 billion versus US$44 billion). Conclusion The Inside ANEMIA of CKD microsimulation model predicts that a hypothetical intervention which reduces the prevalence of moderate and severe anaemia of CKD would reduce direct healthcare costs. This suggests that interventions effective at reducing the prevalence of anaemia of CKD would help to reduce the economic burden on healthcare services.

The Impact of European and Chinese Soft Power on Regional and Global Governance

2007 ◽  
Author(s):  
SEBASTIAN BERSICK
Keyword(s):  
East Asia ◽  
Global Governance ◽  
Soft Power ◽  
Regional Security ◽  
The Us ◽  
The Usa ◽  
The Impact

This chapter returns to issues raised by other authors in this section: the contrast between European, Chinese, and US perceptions of hard and soft power in the contexts of regional and global governance. Taking the ASEM process as a case, it shows how Europeans and Asians have approached the interaction from different institutional perspectives. Despite this, it sees ASEM as a process that reflects, and promotes, the advance of regional institutionalism in East Asia, adding an important dimension to the Europe–China relationship. This is then contrasted with the US strategy of dual divergence: a divergent internal strategy that rejects institutionalism for managing regional security; and an external divergent strategy that rejects the building of shared and reciprocal institutions between the USA and Asia. The chapter concludes that Europe's ‘balancing by convergence’ strategy has advantages over the USA's ‘balancing by divergence’ strategy.

scholarly journals Private Label and Macroeconomic Indicators: Europe and USA

2020 ◽  
Vol 10 (4) ◽  
pp. 91
Author(s):  
Eloy Gil-Cordero ◽  
Francisco Javier Rondán-Cataluña ◽  
Daniel Sigüenza-Morales
Keyword(s):  
Market Share ◽  
European Countries ◽  
Private Label ◽  
Private Labels ◽  
National Brand ◽  
Business Decisions ◽  
The Us ◽  
Macroeconomic Indicators ◽  
The Usa ◽  
The Impact

In this study, we have analyzed the impact and evolution of some of the most important macroeconomic indices on the market share and value of private brands. The originality and objective of this work is the linkage of macroeconomic variables in European countries and the USA with the evolution of private labels in these countries. A sample of 19 European countries and all states within the USA has been collected over a 10-year period, including data on private labels and macroeconomic indices. The analysis of the panel data has been applied using the SPSS software through the Ljung–Box test. The most significant data from the sample study is that for GDP; we advised national brand managers to make a special communication effort in nations that offer a lower GDP within Europe for their volume and in value for the US. On the other hand, it was found that when the unemployment rate increases, the value of private label market share decreases for the US, but increases for Europe, in addition to other findings that will help organizations make different business decisions.

Cigarette and cigar sales in Hawaii before and after implementation of a Tobacco 21 Law

2020 ◽  
Vol 30 (1) ◽  
pp. 98-102 ◽  
Author(s):  
Rebecca Glover-Kudon ◽  
Doris G Gammon ◽  
Todd Rogers ◽  
Ellen M Coats ◽  
Brett Loomis ◽  
...  
Keyword(s):  
Large Scale ◽  
Geographical Area ◽  
Upward Trend ◽  
Food Stores ◽  
The Us ◽  
Before And After ◽  
Youth And Young Adults ◽  
The Usa ◽  
Product Sales ◽  
The Impact

IntroductionOn 1 January 2016, Hawaii raised the minimum legal age for tobacco access from 18 to 21 years (‘Tobacco 21 (T21)’) statewide, with no special population exemptions. We assessed the impact of Hawaii’s T21 policy on sales of cigarettes and large cigars/cigarillos in civilian food stores, including menthol/flavoured product sales share.MethodsCigarette and large cigar/cigarillo sales and menthol/flavoured sales share were assessed in Hawaii, California (implemented T21 in June 2016 with a military exemption), and the US mainland using the only Nielsen data consistently available for each geographical area. Approximate monthly sales data from large-scale food stores with sales greater than US$2 million/year covered June 2012 to February 2017. Segmented regression analyses estimated changes in sales from prepolicy to postpolicy implementation periods.ResultsFollowing T21 in Hawaii, average monthly cigarette unit sales dropped significantly (−4.4%, p<0.01) coupled with a significant decrease in menthol market share (−0.8, p<0.01). This combination of effects was not observed in comparison areas. Unit sales of large cigars/cigarillos decreased significantly in each region following T21 implementation. T21 policies in Hawaii and California showed no association with flavoured/menthol cigar sales share, but there was a significant increase in flavoured/menthol cigar sales share in the USA (7.1%, p<0.01) relative to Hawaii’s implementation date, suggesting T21 may have attenuated an otherwise upward trend.ConclusionsAs part of a comprehensive approach to prevent or delay tobacco use initiation, T21 laws may help to reduce sales of cigarette and large cigar products most preferred by US youth and young adults.

How does the estate tax affect the number of firms?

2014 ◽  
Vol 3 (1) ◽  
pp. 96-117 ◽  
Author(s):  
Pavel A. Yakovlev ◽  
Antony Davies
Keyword(s):  
Small Firms ◽  
State Level ◽  
Small Business Owners ◽  
Tax Burden ◽  
Estate Tax ◽  
Content Type ◽  
The Usa ◽  
The Rich ◽  
The Impact ◽  
Number Of Firms

Purpose – The purpose of this paper is to estimate the effect of the combined (Federal and state) estate, inheritance, and gift (EIG) tax burden per decedent on the number of firms in the USA. Design/methodology/approach – Estimates are based on a longitudinal panel of 50 American states from 1988 to 2006. Findings – The paper finds that the growth in the EIG tax burden per decedent significantly reduces the growth in the number of firms, especially small firms. The higher dissolution rate among small firms can be attributed to the asymmetric liquidity effect, which limits the ability of small business owners to raise the funds needed to pay the estate tax without liquidating their estates. Practical implications – The estimates suggest that the reductions in EIG taxes, brought about by the passage of 2001 EGTRRA, have lead to a higher growth in the number of firms, ceteris paribus. Social implications – As of this writing, the future of the Federal estate tax looks uncertain. Policymakers should note that the estate tax lowers competition and economic growth, which hurts both the poor and the rich. Originality/value – This study is the first to examine the impact of the combined (Federal and state) EIG tax burden on the number of firms using state-level panel data.

Hurricane Katrina: an environmental perspective

2006 ◽  
Vol 364 (1845) ◽  
pp. 2099-2115 ◽  
Author(s):  
Ewen McCallum ◽  
Julian Heming
Keyword(s):  
Hurricane Katrina ◽  
Observational Studies ◽  
Gulf Coast ◽  
Theoretical Modelling ◽  
Loss Of Life ◽  
The Us ◽  
Hurricane Season ◽  
The Usa ◽  
The Impact ◽  
National Hurricane Center

On 29 August 2005, Hurricane Katrina hit the Gulf Coast of the USA to become one of the worst natural disasters in the country's history. The forecasts and official warnings of the event issued by the US National Hurricane Center up to 60 h ahead were excellent and largely based on an ‘ensemble’ of model and statistical guidance. The Met Office Global Model is highlighted as one of the best performers for Hurricane Katrina. The active 2005 Atlantic hurricane season has fuelled the debate on the impact of climate change on tropical cyclones. Some recent publications have suggested that this impact is already apparent, while others are more cautious. Inconsistencies remain among many of the theoretical, modelling and observational studies. Despite the excellent warnings, there was a tragic loss of life as a result of Hurricane Katrina which has led to political questions concerning complex socio-economic issues, the state of flood defences and how to coordinate the reaction to and mitigate the impact of such monumental natural hazards.

Preference for group work in China and the US

2015 ◽  
Vol 22 (1) ◽  
pp. 90-115 ◽  
Author(s):  
Wayne H. Decker ◽  
Thomas J. Calo ◽  
Hong Yao ◽  
Christy H. Weer
Keyword(s):  
Cultural Values ◽  
Group Work ◽  
Extrinsic Motivation ◽  
Hierarchical Regression ◽  
Global Business ◽  
Content Type ◽  
General Acceptance ◽  
The Us ◽  
The Usa ◽  
The Impact

Purpose – The purpose of this paper is to determine whether Chinese and US students differ in preference for group work (PGW) and whether the factors contributing to PGW differ in the two countries. Design/methodology/approach – The sample included 412 Chinese and 423 US college students who completed a survey measuring cultural values and motives. Hierarchical regression and simple-slope analyses were used to examine main effects and interactions. Findings – Overall, the US and Chinese students did not differ in PGW. Although US men exceeded US women in PGW, no gender difference occurred in China. PGW was positively associated with others focus (concern for what others think) and helping others in both countries, but the association was stronger in China. In China, but not in the USA, PGW was positively associated with extrinsic motivation and need for achievement. Therefore, despite the general acceptance of group work in the USA, participation in groups is not seen as critical in attaining rewards as it is in China. Research limitations/implications – Other populations, including practicing managers, should be studied to better represent the workforce of each country. Also, other variables, including personality traits, may impact PGW. Practical implications – Managers and educators should pay attention to how cultural values and motives of group members vary. Business education should offer more opportunities to increase exposure to cultural differences, including experience working in culturally diverse groups. Originality/value – The study supports some traditional assumptions concerning the impact of culture upon PGW, but also suggests that a global business orientation can mitigate the impact of traditional national cultures.

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