Tag Archives: Jobs

Tax Cuts for Whom? Do tax changes for high income taxpayers generate more growth than similarly sized tax changes for lower income taxpayers?

        This figure, which is from a recently revised and submitted paper of mine, shows how the multiplier varies across the income distribution. It shows that equivalently sized tax changes for lower income groups have larger macroeconomic impacts on … Continue reading

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A Painfully Slow Recovery for America’s Workers: Causes, Implications, and the Federal Reserve’s Response

A new speech from Janet Yellen is worth reading. Here are some figures from the speech on the slow response relative to other recessions and the contribution of fiscal support (or lack thereof) for this recession. Premature fiscal contraction is … Continue reading

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The Economics of Immigration

Given the interest and policy relevance (as well as Miles Kimball’s immigration tweet day), I thought I’d write a post on the theory and empirics of the effects of immigration in the labor market. A simple starting point for thinking … Continue reading

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4 Ways Persistently High Unemployment Could Ossify – the Human Capital Channel

Brad Plumer has a post today on rough projections that we will not reach full employment until 2022. Here are four ways that failing to address the unemployment problem today could lead to long-lasting (and potentially permanent) reductions in human capital, employment, and social … Continue reading

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Do Dividend Tax Cuts Increase Investment and Hiring?

Abstract: Policymakers frequently propose to use capital tax reform to stimulate investment and increase labor earnings. This paper tests for such real impacts of the 2003 dividend tax cut – one of the largest reforms ever to a U.S. capital … Continue reading

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Hysteresis & the Unemployment Problem

Summers and Blanchard have a paper on Hysteresis in Europe in the 1980s in which they discuss three main potential causes of hysteresis, which is a very high dependence of current employment on past unemployment. The three causes are (1) physical … Continue reading

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The Employment Effects of Credit Market Disruptions: Firm-level Evidence from the 2008-09 Financial Crisis

Gabe Chodorow-Reich, who is also a coauthor on one of the more compelling studies showing that the stimulus was effective at creating jobs, has a job market paper on the link between conditions on wall street and employment on main street. When … Continue reading

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