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Subsidizing Job Creation In The Great Recession
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Book Synopsis Subsidizing Job Creation in the Great Recession by : Sagiri Kitao
Download or read book Subsidizing Job Creation in the Great Recession written by Sagiri Kitao and published by DIANE Publishing. This book was released on 2010-10 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: Analyzes the effects of various labor market policies on job creation, job destruction, and employment. The equilibrium model is calibrated to capture labor market conditions at the end of 2009, including the unemployment, inflow, and outflow rates by workers of different educational attainment. The authors consider the equilibrium effects of a hiring subsidy, a payroll tax reduction, and an employment subsidy. They find that a hiring subsidy and a payroll tax deduction, as in the Hiring Incentives to Restore Employment Act, can stimulate job creation in the short term, but can cause a higher equilibrium unemployment rate in the long term. Employment subsidies succeed in lowering the unemploy. rate permanently, but the policy entails high fiscal costs. Illus.
Book Synopsis Working Through the Crisis by : Arup Banerji
Download or read book Working Through the Crisis written by Arup Banerji and published by World Bank Publications. This book was released on 2013-12-18 with total page 242 pages. Available in PDF, EPUB and Kindle. Book excerpt: Working through the Crisis documents how the Great Recession affected employment outcomes in developing countries and how those countries' governments responded. The chapters comprise a unique compilation of data and analysis from different sources, including an inventory of policies implemented during the crisis, among countries in Latin America, Eastern Europe, Asia, and Africa. The effects of the crisis depended on the size of the shock, the channels through which it was manifested, the structure of institutions in the country--especially labor institutions--and the specific policy responses undertaken. Although these factors resulted in differing outcomes among the countries studied, common patterns emerge. In terms of impacts, overall adjustments involved reductions in earnings growth rather than in employment growth, although the quality of employment was also affected. Youth were doubly affected, being more likely to experience unemployment and reduced wages. Men seemed to have been more severely affected than women. In most countries where data are available, there were no major differences between skilled and unskilled workers or between those living in urban and rural areas. In terms of policy responses, this crisis was characterized by a high prevalence of active interventions in the labor market and the expansion of income protection systems, as well as countercyclical stimulus measures. When timed well and sufficiently large, these stimulus measures were effective in reducing adverse employment effects. Specific sectoral stimulus policies also had beneficial effects when they were well targeted. However, social protection and labor market policy responses were often ad hoc, and not in line with the types of adjustments workers experienced. As a result, these policies and programs were typically biased toward formal sector workers and did not necessarily reach those who needed them the most. In retrospect, there is a sense that developing countries were not well prepared to deal with the effects of the Great Recession, and that the further development of social protection systems is crucial to better protect workers and their families from the next crisis.
Book Synopsis The Challenge of Creating Jobs in the Aftermath of "the Great Recession" by : United States. Congress. Joint Economic Committee
Download or read book The Challenge of Creating Jobs in the Aftermath of "the Great Recession" written by United States. Congress. Joint Economic Committee and published by . This book was released on 2010 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Redistribution Recession by : Casey B. Mulligan
Download or read book The Redistribution Recession written by Casey B. Mulligan and published by Oxford University Press. This book was released on 2012-11-02 with total page 368 pages. Available in PDF, EPUB and Kindle. Book excerpt: Redistribution, or subsidies and regulations intended to help the poor, unemployed, and financially distressed, have changed in many ways since the onset of the recent financial crisis. The unemployed, for instance, can collect benefits longer and can receive bonuses, health subsidies, and tax deductions, and millions more people have became eligible for food stamps. Economist Casey B. Mulligan argues that while many of these changes were intended to help people endure economic events and boost the economy, they had the unintended consequence of deepening-if not causing-the recession. By dulling incentives for people to maintain their own living standards, redistribution created employment losses according to age, skill, and family composition. Mulligan explains how elevated tax rates and binding minimum-wage laws reduced labor usage, consumption, and investment, and how they increased labor productivity. He points to entire industries that slashed payrolls while experiencing little or no decline in production or revenue, documenting the disconnect between employment and production that occurred during the recession. The book provides an authoritative, comprehensive economic analysis of the marginal tax rates implicit in public and private sector subsidy programs, and uses quantitative measures of incentives to work and their changes over time since 2007 to illustrate production and employment patterns. It reveals the startling amount of work incentives eroded by the labyrinth of new and existing social safety net program rules, and, using prior results from labor economics and public finance, estimates that the labor market contracted two to three times more than it would have if redistribution policies had remained constant. In The Redistribution Recession, Casey B. Mulligan offers hard evidence to contradict the notion that work incentives suddenly stop mattering during a recession or when interest rates approach zero, and offers groundbreaking interpretations and precise explanations of the interplay between unemployment and financial markets.
Book Synopsis To Fire or to Hoard? Explaining Japan’s Labor Market Response in the Great Recession by : Mr.Masato Nakane
Download or read book To Fire or to Hoard? Explaining Japan’s Labor Market Response in the Great Recession written by Mr.Masato Nakane and published by International Monetary Fund. This book was released on 2011-01-01 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Great Recession pushed Japan’s unemployment rate to historic highs, but the increase has been small by international standards and small relative to the large output shock. This paper explores Japan’s cyclical labor market response to the global financial crisis. Our findings suggest that: (i) employment responsiveness has been historically low but rising over time with the increasing importance of the non-regular workforce; (ii) the labor market response was consistent with historical patterns once we control for the size of the output shock; and (iii) the comparatively lower employment response vis-à-vis other countries can in part be explained by the quick implementation of an employment subsidy program, a more flexible wage system, and a corporate governance structure that places workers rights above shareholders.
Book Synopsis The Great Recession by : David B. Grusky
Download or read book The Great Recession written by David B. Grusky and published by Russell Sage Foundation. This book was released on 2011-10-01 with total page 342 pages. Available in PDF, EPUB and Kindle. Book excerpt: Officially over in 2009, the Great Recession is now generally acknowledged to be the most devastating global economic crisis since the Great Depression. As a result of the crisis, the United States lost more than 7.5 million jobs, and the unemployment rate doubled—peaking at more than 10 percent. The collapse of the housing market and subsequent equity market fluctuations delivered a one-two punch that destroyed trillions of dollars in personal wealth and made many Americans far less financially secure. Still reeling from these early shocks, the U.S. economy will undoubtedly take years to recover. Less clear, however, are the social effects of such economic hardship on a U.S. population accustomed to long periods of prosperity. How are Americans responding to these hard times? The Great Recession is the first authoritative assessment of how the aftershocks of the recession are affecting individuals and families, jobs, earnings and poverty, political and social attitudes, lifestyle and consumption practices, and charitable giving. Focused on individual-level effects rather than institutional causes, The Great Recession turns to leading experts to examine whether the economic aftermath caused by the recession is transforming how Americans live their lives, what they believe in, and the institutions they rely on. Contributors Michael Hout, Asaf Levanon, and Erin Cumberworth show how job loss during the recession—the worst since the 1980s—hit less-educated workers, men, immigrants, and factory and construction workers the hardest. Millions of lost industrial jobs are likely never to be recovered and where new jobs are appearing, they tend to be either high-skill positions or low-wage employment—offering few opportunities for the middle-class. Edward Wolff, Lindsay Owens, and Esra Burak examine the effects of the recession on housing and wealth for the very poor and the very rich. They find that while the richest Americans experienced the greatest absolute wealth loss, their resources enabled them to weather the crisis better than the young families, African Americans, and the middle class, who experienced the most disproportionate loss—including mortgage delinquencies, home foreclosures, and personal bankruptcies. Lane Kenworthy and Lindsay Owens ask whether this recession is producing enduring shifts in public opinion akin to those that followed the Great Depression. Surprisingly, they find no evidence of recession-induced attitude changes toward corporations, the government, perceptions of social justice, or policies aimed at aiding the poor. Similarly, Philip Morgan, Erin Cumberworth, and Christopher Wimer find no major recession effects on marriage, divorce, or cohabitation rates. They do find a decline in fertility rates, as well as increasing numbers of adult children returning home to the family nest—evidence that suggests deep pessimism about recovery. This protracted slump—marked by steep unemployment, profound destruction of wealth, and sluggish consumer activity—will likely continue for years to come, and more pronounced effects may surface down the road. The contributors note that, to date, this crisis has not yet generated broad shifts in lifestyle and attitudes. But by clarifying how the recession’s early impacts have—and have not—influenced our current economic and social landscape, The Great Recession establishes an important benchmark against which to measure future change.
Book Synopsis Confronting Policy Challenges of the Great Recession by : Eskander Alvi
Download or read book Confronting Policy Challenges of the Great Recession written by Eskander Alvi and published by W.E. Upjohn Institute. This book was released on 2017-11-20 with total page 152 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents a notable group of macroeconomists who describe the unprecedented events and often extraordinary policies put in place to limit the economic damage suffered during the Great Recession and then to put the economy back on track. Contributers include Barry Eichengreen; Gary Burtless; Donald Kohn; Laurence Ball, J. Bradford DeLong, and Lawrence H. Summers; and Kathryn M.E. Dominguez.
Book Synopsis Growing Business in Delaware by : William W. Boyer
Download or read book Growing Business in Delaware written by William W. Boyer and published by . This book was released on 2015 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Contemporary public policy analysis in response to the Great Recession, suitable for the study of economic development and public policy courses in higher education, focuses preponderantly on the national government. This book provides a unique case study of how one small state has employed strategies to grow business and jobs with mixed results, relevant for the study of such policies in other states.
Book Synopsis How the Financial Crisis and Great Recession Affected Higher Education by : Jeffrey R. Brown
Download or read book How the Financial Crisis and Great Recession Affected Higher Education written by Jeffrey R. Brown and published by University of Chicago Press. This book was released on 2015-01-08 with total page 343 pages. Available in PDF, EPUB and Kindle. Book excerpt: The recent financial crisis had a profound effect on both public and private universities. Universities responded to these stresses in different ways. This volume presents new evidence on the nature of these responses and how the incentives and constraints facing different institutions affected their behavior.
Author :United States. Congress. House. Committee on Banking, Finance, and Urban Affairs. Subcommittee on International Trade, Investment, and Monetary Policy Publisher : ISBN 13 : Total Pages :336 pages Book Rating :4.:/5 (327 download)
Book Synopsis Foreign Exchange Value of the Dollar by : United States. Congress. House. Committee on Banking, Finance, and Urban Affairs. Subcommittee on International Trade, Investment, and Monetary Policy
Download or read book Foreign Exchange Value of the Dollar written by United States. Congress. House. Committee on Banking, Finance, and Urban Affairs. Subcommittee on International Trade, Investment, and Monetary Policy and published by . This book was released on 1984 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Age of Oversupply by : Daniel Alpert
Download or read book The Age of Oversupply written by Daniel Alpert and published by Penguin. This book was released on 2014-08-26 with total page 302 pages. Available in PDF, EPUB and Kindle. Book excerpt: Governments and central banks across the developed world have tried every policy tool imaginable, yet our economies remain sluggish or worse. How did we get here, and how can we compete and prosper once more? Daniel Alpert argues that a global labor glut, excess productive capacity, and a rising ocean of cheap capital have kept the Western economies mired in underemployment and anemic growth. We failed to anticipate the impact of the torrent of labor and capital unleashed by formerly socialist economies. Many policymakers miss the connection between global oversupply and the lack of domestic investment and growth. But Alpert shows how they are intertwined and offers a bold, fresh approach to fixing our economic woes. Twitter: @DanielAlpert
Book Synopsis An Employment Policy to Fight Recession and Inflation by : National Council on Employment Policy
Download or read book An Employment Policy to Fight Recession and Inflation written by National Council on Employment Policy and published by . This book was released on 1980 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Jobs for the Poor by : Timothy J. Bartik
Download or read book Jobs for the Poor written by Timothy J. Bartik and published by Russell Sage Foundation. This book was released on 2001-06-11 with total page 486 pages. Available in PDF, EPUB and Kindle. Book excerpt: Even as the United States enjoys a booming economy and historically low levels of unemployment, millions of Americans remain out of work or underemployed, and joblessness continues to plague many urban communities, racial minorities, and people with little education. In Jobs for the Poor, Timothy Bartik calls for a dramatic shift in the way the United States confronts this problem. Today, most efforts to address this problem focus on ways to make workers more employable, such as job training and welfare reform. But Bartik argues that the United States should put more emphasis on ways to increase the interest of employers in creating jobs for the poor—or the labor demand side of the labor market. Bartik's bases his case for labor demand policies on a comprehensive review of the low-wage labor market. He examines the effectiveness of government interventions in the labor market, such as Welfare Reform, the Earned Income Tax Credit, and Welfare-to-Work programs, and asks if having a job makes a person more employable. Bartik finds that public service employment and targeted employer wage subsidies can increase employment among the poor. In turn, job experience significantly increases the poor's long-run earnings by enhancing their skills and reputation with employers. And labor demand policies can avoid causing inflation or displacing other workers by targeting high-unemployment labor markets and persons who would otherwise be unemployed. Bartik concludes by proposing a large-scale labor demand program. One component of the program would give a tax credit to employers in areas of high unemployment. To provide disadvantaged workers with more targeted help, Bartik also recommends offering short-term subsidies to employers—particularly small businesses and nonprofit organizations—that hire people who otherwise would be unlikely to find jobs. With experience from subsidized jobs, the new workers should find it easier to obtain future year-round employment. Although these efforts would not catapult poor families into the middle class overnight, Bartik offers a powerful argument that having a full-time worker in every household would help improve the lives of millions. Jobs for the Poor makes a compelling case that full employment can be achieved if the country has the political will and adopts policies that address both sides of the labor market. Copublished with the W. E. Upjohn Institute for Economic Research
Book Synopsis Creating Jobs by : John Logan Palmer
Download or read book Creating Jobs written by John Logan Palmer and published by Brookings Institution Press. This book was released on 1978 with total page 408 pages. Available in PDF, EPUB and Kindle. Book excerpt: Collection of conference papers examining the effects of public service employment programmes and state aid for wages subsidies for the private sector on employment creation policies in the USA - discusses consequences of employment policies to combat inflation and unemployment (incl. Structural unemployment) and considers work relief programmes of the economic recession of the 1930's, the social employment programme of the Netherlands and the economic efficiency of programmes in general, etc. Graphs and statistical tables. Conference held in Washington 1977 April 7 and 8.
Book Synopsis The Financial Crisis Inquiry Report by : Financial Crisis Inquiry Commission
Download or read book The Financial Crisis Inquiry Report written by Financial Crisis Inquiry Commission and published by Cosimo, Inc.. This book was released on 2011-05-01 with total page 692 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Financial Crisis Inquiry Report, published by the U.S. Government and the Financial Crisis Inquiry Commission in early 2011, is the official government report on the United States financial collapse and the review of major financial institutions that bankrupted and failed, or would have without help from the government. The commission and the report were implemented after Congress passed an act in 2009 to review and prevent fraudulent activity. The report details, among other things, the periods before, during, and after the crisis, what led up to it, and analyses of subprime mortgage lending, credit expansion and banking policies, the collapse of companies like Fannie Mae and Freddie Mac, and the federal bailouts of Lehman and AIG. It also discusses the aftermath of the fallout and our current state. This report should be of interest to anyone concerned about the financial situation in the U.S. and around the world.THE FINANCIAL CRISIS INQUIRY COMMISSION is an independent, bi-partisan, government-appointed panel of 10 people that was created to "examine the causes, domestic and global, of the current financial and economic crisis in the United States." It was established as part of the Fraud Enforcement and Recovery Act of 2009. The commission consisted of private citizens with expertise in economics and finance, banking, housing, market regulation, and consumer protection. They examined and reported on "the collapse of major financial institutions that failed or would have failed if not for exceptional assistance from the government."News Dissector DANNY SCHECHTER is a journalist, blogger and filmmaker. He has been reporting on economic crises since the 1980's when he was with ABC News. His film In Debt We Trust warned of the economic meltdown in 2006. He has since written three books on the subject including Plunder: Investigating Our Economic Calamity (Cosimo Books, 2008), and The Crime Of Our Time: Why Wall Street Is Not Too Big to Jail (Disinfo Books, 2011), a companion to his latest film Plunder The Crime Of Our Time. He can be reached online at www.newsdissector.com.
Book Synopsis Children of the Great Recession by : Irwin Garfinkel
Download or read book Children of the Great Recession written by Irwin Garfinkel and published by Russell Sage Foundation. This book was released on 2016-08-21 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many working families continue to struggle in the aftermath of the Great Recession, the deepest and longest economic downturn since the Great Depression. In Children of the Great Recession, a group of leading scholars draw from a unique study of nearly 5,000 economically and ethnically diverse families in twenty cities to analyze the effects of the Great Recession on parents and young children. By exploring the discrepancies in outcomes between these families—particularly between those headed by parents with college degrees and those without—this timely book shows how the most disadvantaged families have continued to suffer as a result of the Great Recession. Several contributors examine the recession’s impact on the economic well-being of families, including changes to income, poverty levels, and economic insecurity. Irwin Garfinkel and Natasha Pilkauskas find that in cities with high unemployment rates during the recession, incomes for families with a college-educated mother fell by only about 5 percent, whereas families without college degrees experienced income losses three to four times greater. Garfinkel and Pilkauskas also show that the number of non-college-educated families enrolled in federal safety net programs—including Medicaid, the Earned Income Tax Credit, and the Supplemental Nutrition Assistance Program (or food stamps)—grew rapidly in response to the Great Recession. Other researchers examine how parents’ physical and emotional health, relationship stability, and parenting behavior changed over the course of the recession. Janet Currie and Valentina Duque find that while mothers and fathers across all education groups experienced more health problems as a result of the downturn, health disparities by education widened. Daniel Schneider, Sara McLanahan and Kristin Harknett find decreases in marriage and cohabitation rates among less-educated families, and Ronald Mincy and Elia de la Cruz-Toledo show that as unemployment rates increased, nonresident fathers’ child support payments decreased. William Schneider, Jeanne Brooks-Gunn, and Jane Waldfogel show that fluctuations in unemployment rates negatively affected parenting quality and child well-being, particularly for families where the mother did not have a four-year college degree. Although the recession affected most Americans, Children of the Great Recession reveals how vulnerable parents and children paid a higher price. The research in this volume suggests that policies that boost college access and reinforce the safety net could help protect disadvantaged families in times of economic crisis.
Book Synopsis Creating an Opportunity Society by : Ron Haskins
Download or read book Creating an Opportunity Society written by Ron Haskins and published by Rowman & Littlefield. This book was released on 2009-10-01 with total page 367 pages. Available in PDF, EPUB and Kindle. Book excerpt: Americans believe economic opportunity is as fundamental a right as life, liberty, and the pursuit of happiness. More concerned about a level playing field for all, they worry less about the growing income and wealth disparity in our country. Creating an Opportunity Society examines economic opportunity in the United States and explores how to create more of it, particularly for those on the bottom rungs of the economic ladder. Ron Haskins and Isabel Sawhill propose a concrete agenda for increasing opportunity that is cost effective, consistent with American values, and focuses on improving the lives of the young and the disadvantaged. They emphasize individual responsibility as an indispensable basis for successful policies and programs. The authors recommend a three-pronged approach to create more opportunity in America: • Increase education for children and youth at the preschool, K–12, and postsecondary levels • Encourage and support work among adults • Reduce the number of out-of-wedlock births while increasing the share of children reared by their married parents With concern for the federal deficit in mind, Haskins and Sawhill argue for reallocating existing resources, especially from the affluent elderly to disadvantaged children and their families. The authors are optimistic that a judicious use of the nation's resources can level the playing field and produce more opportunity for all. Creating an Opportunity Society offers the most complete summary available of the facts and the factors that contribute to economic opportunity. It looks at the poor, the middle class, and the rich, providing deep background data on how each group has fared in recent decades. Unfortunately, only the rich have made substantial progress, making this book a timely guide forward for anyone interested in what we can do as a society to improve the prospects for our less-advantaged families and fellow citizens.
