Finance & Economics

Testing vs. Discretion: How Should Firms Hire Their Employees?

New research analyzes how hiring decisions made using job assessments versus manager discretion impact employee retention and productivity.

The Interaction between Family Networks and Labor Markets: Evidence from West Africa

Research exposes the significant impact of family networks on labor market dynamics in developing countries.

Spend or Save? What to Decide When Faced with Financial Emergencies

Behavioral interventions aimed at promoting savings may lead to counterproductive consequences. Researchers find that consumers may borrow high-interest debt in favor of preserving low-interest savings. Policies encouraging savings should be coupled with efforts that promote education on appropriate spending of savings.

How Does Consumption Spending Respond to Housing Prices?

New research explores the complex relationship between housing prices and consumer spending. The magnitude of this relationship can vary considerably over time and across households.

Higher Savings, Lower Returns: The Unacknowledged Externalities of Financial Innovation

New research shows how innovation in finance may increase the aggregate demand for investments over time, yet lower the expected return on assets.

China’s Official Unemployment Rate: An Unusual Outlier or a Lie?

As a result of mismeasurement, the official unemployment rate series for China is implausible and is an outlier in the distribution of unemployment rates across countries ranked by their stages of development.

Getting a Job: How Certain Characteristics Do (or Don’t) Influence Receiving a Callback

How does unemployment duration, age, or holding a low-level “interim” job affect the likelihood of receiving a callback from a potential employer?

Does Merit-Based Financial Aid Reduce the Number of STEM Graduates?

Although ensuring access of talented individuals to higher education is of great importance, there is evidence that suggests that merit-based financial aid reduces the number of graduates in STEM fields, one of the main drivers of innovation and, thus, of economic growth.

Economic downturns: Bad for your wallet, good for your health?

A recent study confirms the finding that mortality rates decrease during recessions and that severe recessions produce even larger reductions in mortality rates.

Social Skills: The New Employment Requirement?

Deming theorizes that, as manufacturing and other jobs have become more easily automated, the human ability to empathize and to be an effective “team player” has become more essential.

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