NBER Working Papers and Publications
|February 2013||Fluctuations in Weekly Hours and Total Hours Worked Over the Past 90 Years and the Importance of Changes in Federal Policy Toward Job Sharing|
with Jason Taylor, Price Fishback: w18816
During the Great Depression of 1930s, changes in the workweek drove a larger portion of changes in total labor input than in other decades. Work-sharing policies appear to be responsible. Hoover created various work-sharing committees lead by key industrialists, which pushed for shorter workweeks and Roosevelt's President's Reemployment Agreement called for sharp cuts in weekly hours. The hope was to spread available work amongst more people. While between 50 and 90 percent of declines in labor input were accommodated by falling hours during these periods, in recent decades employers have primarily relied on layoffs to achieve the same end. During the Great Depression of 1930s, changes in the workweek drove a larger portion of changes in total labor input than in other decades. Work-sha...
|July 2012||The Effect of Institutional Regime Change Within the New Deal on Industrial Output and Labor Markets|
with Jason E. Taylor
in The Microeconomics of New Deal Policy, Price Fishback, organizer
|December 2007||The Dynamics of Relief Spending and the Private Urban Labor Market During the New Deal|
with Price V. Fishback, Shawn Kantor: w13692
During the New Deal the Roosevelt Administration dramatically expanded relief spending to combat extraordinarily high rates of unemployment. We examine the dynamic relationships between relief spending and local private labor markets using a new panel data set of monthly relief, private employment and private earnings for major U.S. cities in the 1930s. Impulse response functions derived from a panel VAR model that controls for time and city fixed effects show that a work relief shock in period t-1 led to a decline in private employment and a rise in private monthly earnings. The finding offers evidence consistent with contemporary employers' complaints that work relief made it more difficult to hire, even though work relief officials followed their stated policies to avoid affecting priva...
Published: Neumann, Todd C. & Fishback, Price V. & Kantor, Shawn, 2010.
"The Dynamics of Relief Spending and the Private Urban Labor Market During the New Deal,"
The Journal of Economic History,
Cambridge University Press, vol. 70(01), pages 195-220, March.
citation courtesy of
|June 2001||Does Participating in a 401(k) Raise Your Lifetime Taxes?|
with Jagadeesh Gokhale, Laurence J. Kotlikoff: w8341
Contributing to 401(k)s and similar tax-deferred retirement accounts certainly lowers current taxes. But does it lower your lifetime taxes? If average and marginal tax rates were independent of income and didn't change through time, the answer would be an unambiguous yes. The reduction in current taxes would exceed the increase in future taxes when measured in present value. But tax rates may be higher when retirement account withdrawals occur, either because one moves into higher marginal federal and state tax brackets or because the government raises tax rates. In addition, reducing tax brackets when young, at the price of higher tax brackets when old, may reduce the value of mortgage deductions. Finally, and very importantly, shifting taxable income from youth to old age can substantial...