Showing results 1 - 10 of 478
| Jason Furman | Willie Powell
June 4, 2021, Opinion: "The US economy added 559,000 jobs in May, similar to the average of 533,000 jobs over the previous three months and much faster than the pace in the three months before that. This still leaves the economy 10 million jobs short of its trend. At the same time the unemployment rate fell to 5.8 percent, but labor force participation also fell slightly and is lower than it was last summer. The “realistic” unemployment rate (…
| Amy Edmondson
May 24, 2021, Paper: "We highlight conversations at work as an arena of change. Drawing on and extending the psychological safety literature, we offer a new framework to distinguish between productive and unproductive forms of both voice and silence. The framework’s four quadrants – withholding, disrupting, contributing and processing – outline essential activities in group conversations that work to advance goals, including organization change…
| Jason Furman | Willie Powell
May 17, 2021, Opinion: "he US economy lost a net of 8 million jobs between February 2020 and April 2021. Agreement is growing that people not actively seeking employment (inadequate labor supply) have been playing a major role in the slow recovery, as evidenced by factors including record job openings, the largest wage increases in decades, and other signs of a tighten labor market than would generally be expected given the still low levels of…
| Jason Furman
May 12, 2021, Audio: "Jason Furman, Harvard University Aetna Professor of Economic Policy, says some states should start rethinking unemployment insurance. Alicia Levine, BNY Mellon Chief Investment Strategist, says a little bit of inflation is positive for Main Steet. Thierry Wizman, Macquarie Capital Director of Global Currencies & Interest Rate Strategist, is not positive on iron. Steve Ricchiuto, Mizuho Securities Chief U.S. Economist,…
| Jason Furman | Willie Powell
May 7, 2021, Opinion: "The United States added 266,000 jobs in April while the unemployment rate rose slightly to 6.1 percent with the realistic unemployment rate, which adjusts for misclassification and the unusual decline in labor force participation, falling to 7.6 percent as more people entered the labor market. The economy was still 10 million jobs short of its pre-pandemic trend in April with the employment rate down 3.2 percentage points…
| Gordon Hanson
May/June 2021, Opinion: "For decades, the promise of globalization has rested on a vision of a world in which goods, services, and capital would flow across borders as never before; whatever its other features and components, contemporary globalization has been primarily about trade and foreign investment. Today’s globalized economy has been shaped to a large extent by a series of major trade agreements that were sold as win-win propositions:…
| Paul Gompers
April 2021, Paper: "In this paper, we document the historically low rate of hiring of women in the venture capital sector. We find that the high-profile Ellen Pao v. Kleiner Perkins gender discrimination trial had dramatic treatment effects. In difference-in-differences regressions, we find that the rate of hiring of female venture capitalists increased substantially after the trial and that the hiring was more pronounced in states that were…
| Gabriel Chodorow-Reich
April 2021, Paper: "We provide evidence of the stock market wealth effect on consumption by using a local labor market analysis and regional heterogeneity in stock market wealth. An increase in local stock wealth driven by aggregate stock prices increases local employment and payroll in nontradable industries and in total, while having no effect on employment in tradable industries. In a model with consumption wealth effects and geographic…
| Boris Groysberg | Colleen Ammerman
May/June 2021, Opinion: "Most companies say they’re committed to advancing women into leadership roles. What they may fail to recognize, though, is that systemic barriers are holding women back. As a result, women remain disadvantaged at every stage of their employment and underrepresented in positions of power. Drawing on their own research and the scholarship of others, the authors describe common forms of gender discrimination in seven key…
| George Borjas
April 2021, Paper: "Immigrant supply shocks are typically expected to reduce the wage of comparable workers. Natives may respond to the lower wage by moving to markets that were not directly targeted by immigrants and where presumably the wage did not drop. This paper argues that the wage change observed in the targeted market depends not only on the size of the native response, but also on which natives choose to respond. A non-random response…