Thursday , June 17 2021
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Tag Archives: Data Source

Workers aren’t coming back

Data released by the Labor Department this morning show that last month, 61.6 percent of the working-age population were active in the labor force, either working in jobs or looking for them. That is essentially unchanged from the summer of 2020. The second most significant statistic is that wages are soaring. In May, average wages grew at a 6.1 percent annual rate. In April, they grew at an 8.7 percent annual rate. Combined, these two statistics tell much of the story of the economy this...

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Whose big business? (Europe fact of the day)

In 2000 nearly a third of the combined value of the world’s 1,000 biggest listed firms was in Europe, and a quarter of their profits. In just 20 years those figures have fallen by almost half. Europe is a place for companies such as Amazon and TikTok to find customers, not a base for local firms to conquer the world… Of the world’s 142 listed firms worth over $100bn, 43 were set up from scratch in the past half-century, 27 in America and ten in China. Only one was in Europe: sap, a...

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The age of reason is fifth grade?

Finally, the proportion of equilibrium play increases significantly until fifth grade and stabilizes afterward, suggesting that the contribution of age to equilibrium play vanishes early in life. Here is more from Isabelle Brocas and Juan D. Carrillo, forthcoming in the JPE. The post The age of reason is fifth grade? appeared first on Marginal REVOLUTION.

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Population predicts regulation — but why?

We found that across states, a doubling of population size is associated with a 22 to 33 percent increase in regulation. The relationship between regulation and population is surprisingly robust- it also holds for Australian states and Canadian provinces, and based on the limited data we have seems to hold across countries too (for instance, the “free market” United States has 10 times as many regulations as Canada- just as it has 10 times the population). What is less clear is why this...

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The relationship between religious, civil, and economic freedoms

From Christos Makridis: This paper studies the relationship between religious liberty and economic freedom. First, three new facts emerge: (a) religious liberty has increased since 1960, but has slipped substantially over the past decade; (b) the countries that experienced the largest declines in religious liberty tend to have greater economic freedom, especially property rights; (c) changes in religious liberty are associated with changes in the allocation of time to religious activities....

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Born to be Managers?

The paper’s subtitle is “Genetic Links between Risk-Taking and the Likelihood of Holding Managerial Positions.”  It is hard for me to verify or assess this kind of result, but I pass it along for its interest: Do genes determine who will become managers? Using the UK Biobank data, we study the phenotypic and genetic correlations between the likelihood of holding managerial positions and physical, cognitive, and mental health traits (n = 297,591). Among all traits we examine,...

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From the Department of Underappreciated Facts

Career earnings growth in the U.S. more than doubled between 1960 and 2017, and the age of peak earnings increased from the late 30s to the mid-50s. I show that a substantial share of this shift is explained by increased employment in decision-intensive occupations, which have longer and more gradual periods of earnings growth…Experience takes longer to accumulate in high variance, non-routine jobs. That is from a new working paper by David J. Deming.  One implication is that AI leads...

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The gender confidence gap in economics

From Heather Sarsons and Guo Xu, in the new AEA Papers and Proceedings: Women are 7.3 percentage points less likely to provide extreme judgments (column 1). In terms of magnitude, this gap is economically large. Compared to the mean of the dependent vari-able (19.8 percent), this corresponds to a gap of 36 percent. The gap is somewhat smaller for the self-reported confidence level but still nontrivial (column 3). On average, women tend to report a confidence score that is 0.221 points lower...

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Where Next? Forecasting COVID in India

The Development Data Lab has put together a real-time forecast of COVID by district in India. The underlying dataset of the portal is open-access and has information on total cases, deaths, estimated reproductive rate, total clinics and hospitals at the district level. Our hope is that residents of high-risk district will adjust behavior if their area has a precariously increasing reproduction rate over time. Even better if aid and medical support that many organizations are mobilizing at an...

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Bangladesh fact of the day

A randomized-trial of community-level mask promotion in rural Bangladesh during COVID-19 shows that the intervention tripled mask usage and is a cost-effective means of promoting public health. Here is the underlying NBER working paper. The post Bangladesh fact of the day appeared first on Marginal REVOLUTION.

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