Casey B Mulligan

The Redistribution Recession

• Gebundenes Buch

Produktbeschreibung

The Redistribution Recession is a controversial, clear-cut, and thoroughly researched analysis of the effects of various government policies on the labor market during the recent recession.

Produktdetails

• Verlag: Oxford University Press, USA
• Seitenzahl: 351
• Erscheinungstermin: 2. November 2012
• Englisch
• Abmessung: 241mm x 161mm x 27mm
• Gewicht: 760g
• ISBN-13: 9780199942213
• ISBN-10: 0199942218
• Artikelnr.: 35940432

Autorenporträt

Professor of Economics, University of Chicago, author of Parental Priorities and Economic Inequality, weekly contributor to Economix blog for the New York Times

Inhaltsangabe

* Preface
* Chapter 1 Introduction
* Chapter 2 The Rise of Labor Productivity
* Quarterly Indicators of Aggregate Economic Quantities
* Movements Along an Aggregate Marginal Productivity Schedule
* On Average, Real Wages did not Fall
* Was It Customer Demand? Factor Reduction and Factor Substitution by
Industry
* Neither Wealth Effects nor Intertemporal Substitution Effects Explain
the "Supply " Shift
* Labor Market Distortions since 2007
* Conclusion: Productivity Patterns Begin to Reveal the Recession's
Causes
* Appendix 2.1: Productivity, Labor, and Residuals in Prior Downturns
* Appendix 2.2: Sensitivity Analysis
* Chapter 3 The Expanding Social Safety Net
* A Framework for Quantifying the Generosity of the Safety Net as a
Whole
* Legislation Made the Safety Net Available to Millions More
* Legislation Increased the Amount of Benefits Received per Program
Participant
* Most of the Increase in Government Safety Net Expenditure is the
Direct Result of Program Rule Changes
* Safety Net Rule Changes and Assistance for the Unemployed
* Means-tested Loan Forgiveness
* Conclusion: Replacement Rates for Aggregate Analysis
* Appendix 3.1: Calculation and Aggregation of Statutory Eligibility
and Benefit Indices
* Appendix 3.2: Sensitivity Analysis
* Appendix 3.3: The Self-Reliance Rate Outlook
* Appendix 3.4: The Making Work Pay Tax Credit
* Chapter 4 Supply and Demand: Labor Market Consequences of Safety Net
Expansions
* The Income-Maximization Fallacy
* Labor and Output Effects of Safety Net Expansions
* Predictions for Consumption and Investment
* Calibrating the Wage Elasticity of Aggregate Labor Supply
* Conclusions and Interpretation
* Appendix 4.1: Comparative Advantage with Heterogeneous Effects of the
Safety Net Expansions
* Appendix 4.2: Calibrating the Supply Elasticity from Unemployment
Duration Studies
* Appendix 4.3: Safety Net Distortions Measured in Dollars per Year
* Chapter 5 Means-Tested Subsidies and Economic Dynamics since 2007
* The Neoclassical Growth Model with Targeted Means-Tested Subsidies
* Data and Simulation Results
* Effects of the Safety Net Expansion
* Interpreting the Residual Labor Market Distortions
* An Investment Distortion by Itself does not Fit Actual Behavior
* Conclusions
* Appendix 5.1: Calibration, Simulation, and Additional Sensitivity
Analysis
* Chapter 6 Cross-Sectional Patterns of Employment and Hours Changes
* Cross-sectional Patterns of Self-Reliance Rate Changes
* Work Hours Changes by Demographic Group and Region
* Program Participation Changes by Demographic Group
* Conclusion: The Cross-Sectional Patterns of Employment and Hours
Changes are as Expected from a Large Safety Net Expansion
* Appendix: Summary Statistics and Additional Results
* Chapter 7 Keynesian and Other Models of Safety Net Stimulus
* The Safety Net and Consumer Spending
* Transfers and Government Purchases are not the Same
* Labor Market Slack and the Marginal Effects of Supply
* Sticky Prices, the Wage Elasticity of Labor Demand, and the Zero
Lower Bound
* An Econometric Model that Nests My Approach with the Slack Market and
Sticky Price Hypotheses
* Conclusion: Whether Labor Supply Matters More, or Less, during a
Recession is an Empirical Question
* Appendix: The Safety Net, Sticky Prices, and Monetary Policy
* Chapter 8 Recession-Era Effects of Factor Supply and Demand: Evidence
from the Seasonal Cycle, the Construction Market, and Minimum Wage
Hikes
* The Christmas and the Academic Seasons as Demand and Supply Shifts
* Christmas Demand in Recessions and Booms
* The Summer Seasonal for Employment and Unemployment
* Housing Investment Crowds Out Non-Residential Construction
* The Employment Effects of Recent Minimum Wage Hikes Were No Less than
Before
* The Federal Minimum Wage Hikes Likely Reduced National Employment by
Hundreds of Thousands, Especially Among the Young and Unskilled
* Conclusion: Labor Supply Still Matters, About as Much as It Did in
the Past
* Chapter 9 Incentives and Compliance under the Federal Mortgage
Modification Guidelines
* The Budget Set of a Borrower Facing the FDIC-HAMP Modification
Guidelines
* Borrower Reactions under Full Information and Full Compliance: Spend
More and Work Less
* Lender Incentives to Expand Modification Capacity
* Conclusions
* Appendix 9.1: Principal Modifications and the Eligible Income Range
* Appendix 9.2: Marginal Tax Rates with Various Horizons and Discount
Rates
* Chapter 10 Uncertainty, Redistribution, and the Labor Market
* A Model of the Equity-Efficiency Tradeoff
* Possible Changes in the Equity-Efficiency Tradeoff, and the Optimal
Degree of Social Insurance
* The Cost-Benefit Analysis of Safety Net Expansions: Necessary
Ingredients
* Conclusions
* Chapter 11 Conclusions
* Incentives Matter
* Was the Financial Collapse a Cause, or Effect?
* Labor Supply and Demand Help Explain an Unhappy Situation
* Bibliography