Do We Know Why Earnings Fall with Job Displacement?

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

The Impact of Welfare Reform on Leaver Characteristics, Employment and Recidivism

Welfare reform has transformed the U.S. cash assistance program for single parents and their children. Although there remains substantial uncertainty about the importance of reform in producing the subsequent decline in the welfare caseload, even less is known about its impact on the experiences and well being of former welfare recipients. The analysis here focuses on the characteristics and employment of welfare recipients in the state of Missouri over the period 1990-1999. We find that there has been little change in the observable characteristics of those entering, on, or leaving welfare, but there has been a dramatic growth in the importance of employment for all these groups. We also examine the dynamics of employment and welfare recidivism comparing cohorts of leavers prior to and after welfare reform. We find that after welfare reform leavers are much more likely to be working, have higher total earnings, work for employers with similar characteristics, and are less likely to return to welfare. These results suggest that welfare reform has not materially harmed welfare recipients.

Do We Know Why Earnings Fall with Job Displacement?

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

The Impact of Welfare Reform on Leaver Characteristics, Employment and Recidivism

Welfare reform has transformed the U.S. cash assistance program for single parents and their children. Although there remains substantial uncertainty about the importance of reform in producing the subsequent decline in the welfare caseload, even less is known about its impact on the experiences and well being of former welfare recipients. The analysis here focuses on the characteristics and employment of welfare recipients in the state of Missouri over the period 1990-1999. We find that there has been little change in the observable characteristics of those entering, on, or leaving welfare, but there has been a dramatic growth in the importance of employment for all these groups. We also examine the dynamics of employment and welfare recidivism comparing cohorts of leavers prior to and after welfare reform. We find that after welfare reform leavers are much more likely to be working, have higher total earnings, work for employers with similar characteristics, and are less likely to return to welfare. These results suggest that welfare reform has not materially harmed welfare recipients

The Impact of Welfare Reform on Leaver Characteristics, Employment and Recidivism

Welfare reform has transformed the U.S. cash assistance program for single parents and their children. Although there remains substantial uncertainty about the importance of reform in producing the subsequent decline in the welfare caseload, even less is known about its impact on the experiences and well being of former welfare recipients. The analysis here focuses on the characteristics and employment of welfare recipients in the state of Missouri over the period 1990-1999. We find that there has been little change in the observable characteristics of those entering, on, or leaving welfare, but there has been a dramatic growth in the importance of employment for all these groups. We also examine the dynamics of employment and welfare recidivism comparing cohorts of leavers prior to and after welfare reform. We find that after welfare reform leavers are much more likely to be working, have higher total earnings, work for employers with similar characteristics, and are less likely to return to welfare. These results suggest that welfare reform has not materially harmed welfare recipients

Conspecific chemical cues facilitate mate trailing by invasive Argentine black and white tegus

Squamate reptiles (snakes and lizards) rely on chemical cues from conspecifics to search the environment for potential mates. How such cues are used by invasive species to facilitate reproduction, especially seasonally, is a key question that can inform management practices. The Argentine black and white tegu (Salvator merianae) is an invasive reptile species in south Florida threatening native fauna in biodiverse regions such as Everglades National Park. While some information exists on the reproductive ecology of this species in its native range in South America, the chemical ecology of S. merianae is unclear especially in its invasive range. By testing both male (n = 7) and female (n = 7) tegus in a Y-maze apparatus, we assessed if either sex follows chemical trails left by conspecifics and if behaviors were sex- or season-specific. We conducted three types of trials where conspecifics created odor trails: Male-only (male scent only in base and one arm of Y), Female-only, and Male vs. female. Males did not preferentially follow scent trails from either sex, but they did differentially investigate conspecific scent from both sexes. Seasonally, males showed increased rates of chemosensory sampling (rates of tongue-flicking) during the spring (breeding season; March-May) compared to fall (non-breeding season; September-November). Males also had reduced turning and pausing behavior while trailing in the spring. Female tegus exhibited stronger conspecific trailing abilities than males, following both male and female scent trails, and they explored the maze less before making an arm choice. Females also investigated the scent trails intensely compared to males (more passes in scented arms, more time with scent trails). Our results demonstrate for the first time that females of an invasive reptile species can follow conspecific scent trails. Given the strong female responses to odor, sex-specific targeting of tegus via application of a conspecific chemical cue in traps could enhance removal rates of females during the breeding season

Ernst Freund as Precursor of the Rational Study of Corporate Law

Gindis, David, Ernst Freund as Precursor of the Rational Study of Corporate Law (October 27, 2017). Journal of Institutional Economics, Forthcoming. Available at SSRN: https://ssrn.com/abstract=2905547, doi: https://dx.doi.org/10.2139/ssrn.2905547The rise of large business corporations in the late 19th century compelled many American observers to admit that the nature of the corporation had yet to be understood. Published in this context, Ernst Freund's little-known The Legal Nature of Corporations (1897) was an original attempt to come to terms with a new legal and economic reality. But it can also be described, to paraphrase Oliver Wendell Holmes, as the earliest example of the rational study of corporate law. The paper shows that Freund had the intuitions of an institutional economist, and engaged in what today would be called comparative institutional analysis. Remarkably, his argument that the corporate form secures property against insider defection and against outsiders anticipated recent work on entity shielding and capital lock-in, and can be read as an early contribution to what today would be called the theory of the firm.Peer reviewe

Establishing a Pragmatic Framework to Optimise Health Outcomes in Heart Failure and Multimorbidity (ARISE-HF): A Multidisciplinary Position Statement

Background Multimorbidity in heart failure (HF), defined as HF of any aetiology and multiple concurrent conditions that require active management, represents an emerging problem within the ageing HF patient population worldwide. Methods To inform this position paper, we performed: 1) an initial review of the literature identifying the ten most common conditions, other than hypertension and ischaemic heart disease, complicating the management of HF (anaemia, arrhythmias, cognitive dysfunction, depression, diabetes, musculoskeletal disorders, renal dysfunction, respiratory disease, sleep disorders and thyroid disease) and then 2) a review of the published literature describing the association between HF with each of the ten conditions. From these data we describe a clinical framework, comprising five key steps, to potentially improve historically poor health outcomes in this patient population. Results We identified five key steps (ARISE-HF) that could potentially improve clinical outcomes if applied in a systematic manner: 1) Acknowledge multimorbidity as a clinical syndrome that is associated with poor health outcomes, 2) Routinely profile (using a standardised protocol — adapted to the local health care system) all patients hospitalised with HF to determine the extent of concurrent multimorbidity, 3) Identify individualised priorities and person-centred goals based on the extent and nature of multimorbidity, 4) Support individualised, home-based, multidisciplinary, case management to supplement standard HF management, and 5) Evaluate health outcomes well beyond acute hospitalisation and encompass all-cause events and a person-centred perspective in affected individuals. Conclusions We propose ARISE-HF as a framework for improving typically poor health outcomes in those affected by multimorbidity in HF

Private Computation of Polynomials over Networks

This study concentrates on preserving privacy in a network of agents where each agent seeks to evaluate a general polynomial function over the private values of her immediate neighbors. We provide an algorithm for the exact evaluation of such functions while preserving privacy of the involved agents. The solution is based on a reformulation of polynomials and adoption of two cryptographic primitives: Paillier as a Partially Homomorphic Encryption scheme and multiplicative-additive secret sharing. The provided algorithm is fully distributed, lightweight in communication, robust to dropout of agents, and can accommodate a wide class of functions. Moreover, system theoretic and secure multi-party conditions guaranteeing the privacy preservation of an agent's private values against a set of colluding agents are established. The theoretical developments are complemented by numerical investigations illustrating the accuracy of the algorithm and the resulting computational cost.Comment: 11 pages, 2 figure