Inequality & Distribution
Nov 15, 2018
Until 2008, rising home values gave the middle class a cushion amid growing income inequality. But following the financial crisis, that wealth has failed to return.
Oct 29, 2018
The Rise of China and the Future of WorkArtificial intelligence could replace routine jobs but allow us to “pursue dreams”
Oct 24, 2018
Donald Trump, democracy, and how the wealthy crush the American Dream
1st GLOBELICS pre-Conference for Young Scholars
Workshop Series on Financing of Innovation and Infrastructure for Development
Oct 23, 2018
The YSI Economics of Innovation, Economic Development and Africa Working Groups, in partnership with Global Network for Economics of Learning, Innovation and Competence Building Systems (GLOBELICS), Globelics Alumni, are organizing the 1st GLOBELICS Pre-Conference for Young Scholars entitled ‘Financing of Innovation and Infrastructure for Development’.
Oct 19, 2018
William Lazonick has shown how the doctrine of “shareholder value” has hurt wages in the United States. But in Latin America, where family corporations dominate, the story is more complicated.
Oct 10, 2018
Artificial intelligence (AI) is poised to replace routine jobs, says Dr. Kai-Fu Lee. But done right, that process could allow us to “pursue dreams, spend time with our loved ones and find out why we exist as humans”
Oct 4, 2018
Economists who dismiss inequality as a problem secondary to poverty miss the point: Inequality is part of what drives poverty
Oct 3, 2018
“We don’t look after each other at all,” says Jeffrey Sachs on America today
Working Paper Series
This paper examines the relationship between placement of publications in Top Five (T5) journals and receipt of tenure in academic economics departments.
Oct 2, 2018
Getting published in a top five economics journal is a near-requirement for tenure. But it’s a poor measure of research quality within a system that punishes creativity.
Sep 20–21, 2018
The Young Scholars Initiative (YSI) is supporting the conference “Hello, Can You Hear Me? Added Value and Inequalities in a Global Market,” that will be held at La Sapienza University of Rome (Italy), on September 20th and 21st. The event is promoted by CEST and funded by the Young Scholars Initiative – INET and by the “Luigi Einaudi” Research Centre.
Sep 4, 2018
In Europe and the United States, stock-based compensation discourages long-term corporate sustainability
Working Paper Series
This paper adds to the empirical evidence on the extent to which stock-based pay incentivizes and rewards European corporate executives. It shows that the actual realized gains (that is, take-home compensation) from stock-based pay of CEOs in European publicly-listed firms may be underestimated by the use of “estimated fair value” measures. The paper also documents the heterogeneity among countries in terms of the levels and components of CEO take-home pay. We base our work on a sample of 301 large, publicly-traded companies listed in the S&P Europe 350 index from 11 EU countries: Belgium, Denmark, Finland, France, Germany, Ireland, Italy, Netherlands, Spain, Sweden and United Kingdom for the fiscal year 2015. Through analyzing companies’ annual reports, we have hand-collected data on various elements of compensation of the company’s CEO in 2015, including the gains that executives realize from stock-based pay. We document that on average half of the total compensation of the European CEOs in our sample is stock-based, measured by actual realized gains, with large differences among countries. Although in some European countries the majority of total compensation is stock-based, the proportions are still well below those that prevail in the
Sep 2, 2018
When a small group of companies can dominate a labor market, wages—and workers—suffer
Aug 29, 2018
Winnie Byanyima shows how we all suffer when corporations evade taxes