Dangerous liaisons: a social network model for the gender wage gap

We combine stylized facts from social network literature with findings from the literature on the gender wage gap in a formal model. This model is based on employers’ use of social networks in the hiring process in order to assess employee productivity. As a result, there is a persistent gender wage gap, with women being underpaid relative to men after controlling for productivity characteristics. Networks exhibit inbreeding biases by productivity and by gender, which in combination with women’s lower network density cause women to be hired less often through referral, as well as receive a lower average referral wage premium. Finally, we use 2001-2006 UK Labour Force Survey data to test the hypotheses implied by our model. We find that networks do indeed account for a significant part of the gender wage gap for newly hired workers.social networks, gender wage gap, imperfect information

Monetary transmission and equity markets in the EU

We assess the role of equity markets in the transmission of monetary policy in the EU. We use a structural VAR model based upon the models of Kim and Roubini [2000] and Brischetto and Voss [1999] and we find that there are differences in monetary policy transmission across our sample of countries. The largest output losses following a monetary shock are seen in a core of euro area countries: Austria, Belgium, Finland, France, and Germany. Germany also displays the largest response of prices and is followed by Austria and Finland. Variance decompositions also suggest that the bank based core euro area countries are different from market based countries. As regards the channels of transmission we find no evidence to suggest an equity wealth effect channel in the euro area and only circumstantial evidence for the UK. We do, however, find that those countries that use equity finance (the UK and the Netherlands) suffer smaller output losses following a monetary shock indicating that a bank lending channel is less likely to be present in these countries.

Dangerous liaisons: A social network model for the gender wage gap.

We combine stylized facts from social network literature with findings from the literature on the gender wage gap in a formal model. This model is based on employers’ use of social networks in the hiring process in order to assess employee productivity. As a result, there is a persistent gender wage gap, with women being underpaid relative to men after controlling for productivity characteristics. Networks exhibit inbreeding biases by productivity and by gender, which in combination with women’s lower network density cause women to be hired less often through referral, as well as receive a lower average referral wage premium. Finally, we use 2001-2006 UK Labour Force Survey data to test the hypotheses implied by our model. We find that networks do indeed account for a significant part of the gender wage gap for newly hired workers.Investment; Pricing; Decisions; Decision; Transport; Economy; Model;

Review of research in feature-based design

Research in feature-based design is reviewed. Feature-based design is regarded as a key factor towards CAD/CAPP integration from a process planning point of view. From a design point of view, feature-based design offers possibilities for supporting the design process better than current CAD systems do. The evolution of feature definitions is briefly discussed. Features and their role in the design process and as representatives of design-objects and design-object knowledge are discussed. The main research issues related to feature-based design are outlined. These are: feature representation, features and tolerances, feature validation, multiple viewpoints towards features, features and standardization, and features and languages. An overview of some academic feature-based design systems is provided. Future research issues in feature-based design are outlined. The conclusion is that feature-based design is still in its infancy, and that more research is needed for a better support of the design process and better integration with manufacturing, although major advances have already been made

Explaining Job Polarization in Europe: The Roles of Technology, Globalization and Institutions

This paper shows the employment structure of 16 European countries has been polarizing in recent years with the employment shares of managers, professionals and low-paid personal services workers increasing at the expense of the employment shares of middling manufacturing and routine office workers. To explain this job polarization, the paper develops and estimates a simple model to capture the effects of technology, globalization, institutions and product demand effects on the demand for different occupations. The results suggest that the routinization hypothesis of Autor, Levy and Murnane (2003) is the single most important factor behind the observed shifts in employment structure. We find some evidence for offshoring to explain job polarization although its impact is much smaller. We also find that shifts in product demand are acting to attenuate the polarizing impact of routinization and that differences or changes in wage-setting institutions play little role in explaining job polarization in Europe.Labor Demand, Technology, Globalization, Institutions