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Do We Know Why Earnings Fall With Job Displacement
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Book Synopsis Do We Know Why Earnings Fall with Job Displacement? by : Congressional Budget Congressional Budget Office
Download or read book Do We Know Why Earnings Fall with Job Displacement? written by Congressional Budget Congressional Budget Office and published by CreateSpace. This book was released on 2015-03-15 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: After being displaced from their jobs, workers experience reduced earnings for many years and are at greater risks of other problems as well. The ills suffered by displaced workers motivated several recent expansions of government programs, including the unemployment insurance system, and have spurred calls for wage insurance that would provide longer-run earnings replacement. However, while the average size and the individual characteristics associated with the losses are relatively clear, the theory of displacement-induced earnings loss is scattered. Much of the policy discussion appears to interpret displacement-induced losses through the lens of specific human capital theory, in which skills are specific to jobs, locations, industries, or occupations, and that model has considerable empirical support. Assistance for displaced workers may improve well-being in that model since it insures workers against the risk that their consumption of goods and services might fall for idiosyncratic reasons and, as a consequence, allows workers to make more productive but higher-risk career choices. But there are other credible theories of costly job displacement that have different causal mechanisms, different interpretations and different policy implications. This paper reviews theories of costly job displacement and discusses their consistency with the available empirical evidence. We find that while specific human capital is important, we cannot rule out important roles for other theories.
Book Synopsis Do We Know why Earnings Fall with Job Displacement? by : William J. Carrington
Download or read book Do We Know why Earnings Fall with Job Displacement? written by William J. Carrington and published by . This book was released on 2015 with total page 51 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Why Do Earnings Fall with Job Displacement? by : William J. Carrington
Download or read book Why Do Earnings Fall with Job Displacement? written by William J. Carrington and published by . This book was released on 2014-08-07 with total page 53 pages. Available in PDF, EPUB and Kindle. Book excerpt: The earnings of workers are reduced for many years after being displaced from their jobs, and those workers and their families face increased risk of other problems as well. The ills suffered by displaced workers motivated several recent expansions of government programs, including the unemployment insurance system, and have spurred calls for wage insurance that would provide longer-run earnings replacement. However, while the magnitude of the losses is relatively clear, the theory of why displacement matters is scattered and somewhat undeveloped. Much of the policy discussion appears to interpret displacement-induced losses through the lens of specific human capital theory, and there is considerable empirical support for that model. But there are several other theories of why job displacement is costly. This study reviews theories of costly job displacement and discusses their consistency with the available empirical evidence. Figure. This is a print on demand report.
Book Synopsis Why Do Earnings Fall with Job Displacement? by : William Carrington
Download or read book Why Do Earnings Fall with Job Displacement? written by William Carrington and published by . This book was released on 2017 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Displaced workers experience reduced earnings for many years. While this empirical phenomenon is well established, the theory of displacement-induced earnings loss is scattered. Policy discussion often interprets displacement-induced losses through the lens of specific human capital theory but there are other credible theories with different causal mechanisms and different interpretations. This paper reviews theories of costly job displacement and discusses their consistency with the available empirical evidence for the United States. We find that specific human capital theory and matching theory have considerable but far from conclusive empirical support. We suggest avenues for better discriminating among theories.
Book Synopsis Understanding the Sources of Earnings Losses After Job Displacement by : Andreas Gulyas
Download or read book Understanding the Sources of Earnings Losses After Job Displacement written by Andreas Gulyas and published by . This book was released on 2021 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We implement a generalized random forest (Athey et al., 2019) to a differencein-difference setting to identify substantial heterogeneity in earnings losses across displaced workers. Using administrative data from Austria over three decades we document that a quarter of workers face cumulative 11-year losses higher than 2 times their pre-displacement annual income, while almost 10% of individuals experience gains. Our methodology allows us to consider many competing theories of earnings losses. We find that the displacement firm's wage premia and the availability of well paying jobs in the local labor market are the two most important factors. This implies that earnings losses can be understood by mean reversion in firm wage premia and losses in match quality, rather than by a destruction of firm-specific human capital. We further show that 94% of the cyclicality of earnings losses is explained by compositional changes of displaced workers over the business cycle.
Book Synopsis Long-term Effects of Job Displacement by : Ann Huff Stevens
Download or read book Long-term Effects of Job Displacement written by Ann Huff Stevens and published by . This book was released on 1995 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Gender Gap in Earnings Losses After Job Displacement by : Hannah Illing
Download or read book The Gender Gap in Earnings Losses After Job Displacement written by Hannah Illing and published by . This book was released on 2021 with total page 51 pages. Available in PDF, EPUB and Kindle. Book excerpt: Existing research has shown that job displacement leads to large and persistent earnings losses for men, but evidence for women is scarce. Using administrative data from Germany, we apply an event study design in combination with propensity score matching and a reweighting technique to directly compare men and women who are displaced from similar jobs and firms. Our results show that after a mass layoff, women’s earnings losses are about 35% higher than men’s, with the gap persisting five years after job displacement. This is partly explained by a higher propensity of women to take up part-time or marginal employment following job loss, but even full-time wage losses are almost 50% (or 5 percentage points) higher for women than for men. We then show that on the household level there is no evidence of an added worker effect, independent of the gender of the job loser. Finally, we document that parenthood magnifies the gender gap sharply: while fathers of young children have smaller earnings losses than men in general, mothers of young children have much larger earnings losses than other women.
Book Synopsis Heterogeneous Effects of Job Displacement on Earnings by : Afrouz Azadikhah Jahromi
Download or read book Heterogeneous Effects of Job Displacement on Earnings written by Afrouz Azadikhah Jahromi and published by . This book was released on 2019 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper considers how the effect of job displacement varies across different individuals. In particular, our interest centers on features of the distribution of the individual-level effect of job displacement. Identifying features of this distribution is particularly challenging -- e.g., even if we could randomly assign workers to be displaced or not, many of the parameters that we consider would not be point identified. We exploit our access to panel data, and our approach relies on comparing outcomes of displaced workers to outcomes the same workers would have experienced if they had not been displaced and if they maintained the same rank in the distribution of earnings as they had before they were displaced. Using data from the Displaced Workers Survey, we find that displaced workers earn about $157 per week less than they would have earned if they had not been displaced. We also find that there is substantial heterogeneity. We estimate that 42% of workers have higher earnings than they would have had if they had not been displaced and that a large fraction of workers have substantially lower earnings than the average effect of displacement. Finally, we also document major differences in the distribution of the effect of job displacement across education levels, sex, age, and counterfactual earnings levels. Throughout the paper, we rely heavily on quantile regression. First, we use quantile regression as a flexible (yet feasible) first step estimator of conditional distributions and quantile functions that our main results build on. We also use quantile regression to study how covariates affect the distribution of the individual-level effect of job displacement.
Book Synopsis The Effects of Job Displacement on Post-Displacement Earnings by : Thomas N. Daymont
Download or read book The Effects of Job Displacement on Post-Displacement Earnings written by Thomas N. Daymont and published by . This book was released on 2003 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The purpose of this research is to examine the long-term effects of job displacement on the subsequent earnings of displaced workers. Previous empirical research has suggested that job displacement reduces the short-term post-displacement earnings an average of about 15 percent relative to what their earnings would have been had they not been displaced. This research uses a fixed effects model and data over a 22-year period from the PSID to assess the long-term earnings effects of job displacement. The results support and extend previous research in finding that earnings losses due to job displacement are substantial and persist for many years.
Book Synopsis The Disposable Work Force by : Thomas Moore
Download or read book The Disposable Work Force written by Thomas Moore and published by Routledge. This book was released on 2018-02-06 with total page 249 pages. Available in PDF, EPUB and Kindle. Book excerpt: The twenty-first century has witnessed a transformation of the organization, opportunities, and terms of work. Downsizing, restructuring, and outsourcing are the forces altering employment relationships throughout the work force. Those who tend to see the future in a positive light view the evolving role between employer and employee as empowering for the individual. This book examines the consequences of economic instability due to job loss and the displacement of millions of workers. It draws upon case studies of worker displacement as well as national labor force surveys. Thomas S. Moore finds that consequences of economic instability are productivity slowdown, increased disparities in earnings and income, and higher average unemployment. He assesses the extent of job loss nationwide, its costs to the individuals directly affected, and the way in which the incidence of displacement and earnings loss has shifted over time. Although drawn from an earlier period, the data have an obvious relevance to today's labor markets. Moore argues for an employment and training system that gives employers an incentive to invest in the skills of their employees. Federally funded training programs have not improved the earning ability of displaced and disadvantaged workers, and state-sponsored programs tend to exclude those most in need of assistance. Moore suggests direct employer investment in the general skills of employees. Initially published in a different economic downturn, this continues to be a must read book for all economists, sociologists, and policymakers.
Book Synopsis Job Loss from Imports by : Lori G. Kletzer
Download or read book Job Loss from Imports written by Lori G. Kletzer and published by Peterson Institute. This book was released on 2001 with total page 148 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this study of the medium-term effects of trade displacement on American workers, Kletzer uses worker-level data from the US Displaced Worker Surveys to examine the pattern of reemployment following trade-related job loss. She also analyzes regional and local labor market variations, and concludes by exploring the implications of her findings for US policy on linking the labor market and international trade.
Download or read book Beyond Lost Earnings written by Yige Duan and published by . This book was released on 2022 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: We study the long-term impact of job displacement on workers' commuting behavior. Our measures of commuting exploit geo-coordinates of workers' places of residence and places of work, from which we calculate the door-to-door commuting distance and commuting time. Using German employee-employer matched data and an event study design, we identify the causal effect of job loss on workers displaced during a mass layoff. Conditional on finding a new job, workers' commuting distance and commuting time rise sharply after displacement and gradually decline in subsequent years. The recovery is due to employer changes rather than migration, and a larger increase in commuting would mitigate the wage loss due to job displacement. To rationalize our findings, we build an on-the-job search model with heterogeneous firm productivity and commuting distances. Our model predicts a joint recovery of wages and commuting despite a static tradeoff between the two attributes.
Book Synopsis Earnings Losses of Workers Displaced from Manufacturing Industries by : Louis S. Jacobson
Download or read book Earnings Losses of Workers Displaced from Manufacturing Industries written by Louis S. Jacobson and published by . This book was released on 1976 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: A particularly sensitive current policy issue is the effect of changes in tariffs and quotas on employment and earnings. This study examines empirically some of the effects of a permanent labor displacement which might result from changes in international trade policy. Specifically, it presents estimates of how job displacement would change the long-term earnings of workers in 11 industries, and relates the findings to industry characteristics so that they can be projected to industries not directly studied. This study was designed to assist in determining industries in which trade liberalization would impose large losses on workers. Results show that average prime age male workers suffer substantial losses of earnings in industries where the normal rate of labor turnover is low and prime age males make up a high percentage of the total labor force. These industries also tend to be high wage industries. Displacement from the auto and steel industries is estimated to reduce earnings over a 6 year period by about 24%, and by almost as much in several other high wage industries. The estimated loss in low wage industries was much smaller, averaging about 5%, in some cases, such as cotton weaving, no appreciable loss could be detected.
Book Synopsis Job Displacement, Re-employment, and Earnings Loss by : Michael John Podgursky
Download or read book Job Displacement, Re-employment, and Earnings Loss written by Michael John Podgursky and published by . This book was released on 1986 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis What Do We Know about Worker Displacement in the U.S.? by : Daniel S. Hamermesh
Download or read book What Do We Know about Worker Displacement in the U.S.? written by Daniel S. Hamermesh and published by . This book was released on 1987 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the United States roughly one-half million workers with 3+ years on the job have become unemployed each year during the 1980s because of plant closings. There is evidence that this represents an increase over earlier periods of similar macroeconomic conditions. Wage cuts within the observed range lower only slightly the probability that a plant will close. The average loss of earnings, due to long spells of post-displacement unemployment and to subsequent reduced wages, is substantial. While minorities suffer an above-average rate of displacement, the earnings losses they experience upon displacement are not disproportionately high. Women and older workers are no more likely than others to become displaced, and their losses are not disproportionate; but workers who have been on the job longer lose more.
Book Synopsis Job Displacement Risk and Severance Pay by : Marco Cozzi
Download or read book Job Displacement Risk and Severance Pay written by Marco Cozzi and published by . This book was released on 2015 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper is a quantitative, equilibrium study of the insurance role of severance pay when workers face displacement risk and markets are incomplete. A key feature of our model is that, in line with an established empirical literature, job displacement entails a persistent fall in earnings upon reemployment due to the loss of job-specific human capital. The model is solved numerically and calibrated to the US economy. In contrast to previous studies that have analyzed severance payments in the absence of persistent earning losses, we find that the welfare gains from the insurance against job displacement afforded by severance pay are sizable. These gains are higher if, as in most OECD countries, severance pay increases with tenure. The result is a consequence of the higher persistence of earnings losses for workers with a larger stock of job-specific human capital at the time of displacement.
Book Synopsis Essays on Job Displacement and Earnings Volatility by : Kyong Hyun Koo
Download or read book Essays on Job Displacement and Earnings Volatility written by Kyong Hyun Koo and published by . This book was released on 2017 with total page 165 pages. Available in PDF, EPUB and Kindle. Book excerpt:
