The impact of energy prices on employment and environmental performance : Evidence from french manufacturing establishments

This paper evaluates the historical influence of energy prices on a series of measures of environmental and economic performance for a panel of French manufacturing establishments over the period 1997-2010. The focus on energy prices is motivated by the fact that changes in environmental and energy policies have been dominated by substantial reductions in discounts for large consumers, making the evaluation of each policy in isolation exceedingly difficult. To identify price effects, we construct a shift-share instrument that captures only the exogenous variation in establishmentspecific energy prices. Our results highlight a trade-off between environmental and economic goals: although a 10 percent increase in energy prices brings about a 6 percent reduction in energy consumption and to a 11 percent reduction in CO2 emissions, such an increase also has a modestly negative impact on employment (-2.6 percent) and very small impact on wages and productivity. The negative employment effects are mostly concentrated in energyintensive and trade-exposed sectors. Simulating the effect of a carbon tax, we show that job losses for the most exposed sectors can be quite large. However, these effects are upper bounds and we show that they are significantly mitigated in multi-plant firms by labor reallocation across establishments

Climate policies and Skill-biased employment dynamics : evidence from EU countries

The political acceptability of climate policies is undermined by job-killing arguments, especially for the least-skilled workers. However, evidence for distributional impacts for different workers remains scant. We examine the associations between climate policies, proxied by energy prices and a stringency index, and workforce skills for 14 European countries and 15 industrial sectors over the period of 1995-2011. We find that, while the long-term decline in employment in most carbon-intensive sectors is unrelated to policy stringency, climate policies have been skill biased against manual workers and have favoured technicians and professionals. This skill bias is confirmed using a shift-share instrumental variable estimato

Finance and the Misallocation of Scientific, Engineering and Mathematical Talent

The US financial sector has become a magnet for the brightest graduates in the science, technology, engineering and mathematical fields (STEM). We provide quantitative bases for this well-known fact and illustrate its consequences for the productivity growth in other sectors over the period 1980-2014. First, we find that the share of STEM talents grew significantly faster in finance than in other key STEM sectors such as high-tech, and this divergent pattern has been more evident for STEM than for general skills and more pronounced for investment banking. Second, this trend did not reverse after the Great Recession, and a persistent wage premium is found for STEM graduates working in finance and especially in typical financial jobs at the top of the wage distribution. Third, the brain drain of STEM talents into finance has been associated with a cumulative loss of labor productivity growth of 6.6% in the manufacturing sectors. Our results suggest that increasing the number of STEM graduates may not be enough to reignite sluggish economic growth without making their employment in finance more costly

Chaotically spiking canards in an excitable system with 2D inertial fast manifolds

PACS:05.45.−a, 42.65.−k, 42.65.SfWe introduce a new class of excitable systems with two-dimensional fast dynamics that includes inertia. A novel transition from excitability to relaxation oscillations is discovered where the usual Hopf bifurcation is followed by a cascade of period doubled and chaotic small excitable attractors and, as they grow, by a new type of canard explosion where a small chaotic background erratically but deterministically triggers excitable spikes. This scenario is also found in a model for a nonlinear Fabry-Perot cavity with one pendular mirror.This work was partially funded by the European Union ILIAS Project (No. RII3-CT-2003-506222), the CSIC— Spain Grant HIELOCRIS (No. 200530F0052).Peer reviewe

Routinization, within-occupation task changes and long-run employment dynamics

The present study adds to the literature on routinization and employment by capturing within-occupation task changes over the period 1980–2010. The main contributions are the measurement of such changes and the combination of two data sources on occupational task content for the United States: the Dictionary of Occupational Titles (DOT) and the Occupational Information Network (O*NET). We show that within-occupation reorientation away from routine tasks: i) accounts for 1/3 of the decline in routine-task use; ii) accelerated in the 1990s, decelerated in the 2000s but with significant convergence across occupations; and iii) allowed workers to escape the employment and wage decline, conditional on the initial level of routine-task intensity. The latter finding suggests that task reorientation is a key channel through which labour markets adapt to various forms of labour-saving technological change

What are green jobs and where are they?

An exploratory study on the magnitude, geographical distribution and effects of green employment in the United States from Francesco Vona, Giovanni Marin, and Davide Consoli