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582. Why too few students do maths and science
- Author:
- Ilaria Maselli and Miroslav Beblavý
- Publication Date:
- 01-2014
- Content Type:
- Policy Brief
- Institution:
- Centre for European Policy Studies (CEPS)
- Abstract:
- Tackling the high and increasing unemployment rate ranks at the top of the EU policy agenda, especially with regard to young people. There is a general consensus that to achieve employment growth, especially for vulnerable groups, it is not enough to kick-start economic growth - skills among both the high-and low-skilled population also need to be improved. However, we need to move beyond simplified narratives and generic policies in order to better understand a much-debated and lamented phenomenon : the lack of graduates in subjects related to science, technology, engineering and mathematics (STEM).
- Topic:
- Education, Science and Technology, and Labor Issues
- Political Geography:
- Europe
583. The Crowding-out Effect of Mandatory Labour Market Pension Schemes on Private Savings: Evidence from renters in Denmark
- Author:
- Mikkel Barslund and Søren Arnberg
- Publication Date:
- 02-2014
- Content Type:
- Working Paper
- Institution:
- Centre for European Policy Studies (CEPS)
- Abstract:
- This paper aims to estimate the crowding-out effect of the Danish mandatory labour market pension reforms begun in 1993 on the level of total household savings for renters. The effect is identified via a large panel of individual administrative records utilising the differences in speed, timing and sectoral coverage of the implementation of the reform in the period 1997 to 2005. Little substitutability was found between current mandatory labour market pension savings and private voluntary savings. Each euro paid into mandatory labour market pension accounts results in a reduction in private savings of approximately 0 to 30 cents, depending on age. This low rate of substitution is only, to a minor extent, explained by liquidity constraints. The results point to mandatory pension savings having a large effect on total household savings. Thus, pension reforms that introduce mandatory savings have macroeconomic implications.
- Topic:
- Economics, Labor Issues, and Reform
- Political Geography:
- Denmark
584. Future of Skills in Europe: Convergence or polarisation?
- Author:
- Miroslav Beblavý and Marcela Veselkova
- Publication Date:
- 02-2014
- Content Type:
- Working Paper
- Institution:
- Centre for European Policy Studies (CEPS)
- Abstract:
- In this Working Paper, based on nearly 20 papers produced by the Centre for European Policy Studies, Slovak Governance Institute and the Conference Board Europe, we examine whether the current trends in the areas of education and skills are pushing the European Union, towards convergence or polarisation. We cover a wide range of questions related to this main issue. No easy answers, but several cross-cutting messages emerged from the research. We demonstrated that there is increasing complexity in what a 'low-skilled' person is and how well (or poorly) s/he fares in the labour market. There are undoubtedly powerful forces pushing for more polarisation, particularly in the labour market. Our research confirmed that early childhood education plays an important role, and it also appears to be increasingly uncontested as a policy prescription. However, the other frequently emphasised remedy to inequality - less selection in secondary education, particularly later division of children into separate tracks - is more problematic. Its effectiveness depends on the country in question and the target group, while education systems are extremely difficult to shift even on a long-term basis. A different, more-nuanced type of warning to policy-makers is delivered in our research on returns to higher education by field of study, which showed hidden rationality in how students choose their major.
- Topic:
- Economics, Education, and Labor Issues
- Political Geography:
- Europe
585. The G20 Needs A Growth Strategy
- Author:
- Mike Callaghan
- Publication Date:
- 02-2014
- Content Type:
- Policy Brief
- Institution:
- Lowy Institute for International Policy
- Abstract:
- Restoring global economic growth and creating jobs has been an objective of successive G20 summits. Australia has also made it a priority for the G20 in 2014. To achieve such an outcome requires a comprehensive and agreed growth strategy. The G20 lacks such a strategy and has failed to provide a clear and consistent message about how members can or are working together to achieve such an outcome.
- Topic:
- Economics, International Cooperation, International Organization, International Trade and Finance, Markets, and Labor Issues
- Political Geography:
- Australia
586. Labour Market Reforms and Current Account Imbalances: Beggar-thy-neighbour policies in a currency union?
- Author:
- Ansgar Belke and Timo Baas
- Publication Date:
- 09-2014
- Content Type:
- Working Paper
- Institution:
- Centre for European Policy Studies (CEPS)
- Abstract:
- Member countries of the Economic and Monetary Union (EMU) initiated wide-ranging labour market reforms in the last decade. This process is ongoing as countries that are faced with serious labour market imbalances perceive reforms as the fastest way to restore competitiveness within a currency union. This fosters fears among observers about a beggar-thy-neighbour policy that leaves non-reforming countries with a loss in competitiveness and an increase in foreign debt. Using a two-country, two-sector search and matching DSGE model, we analyse the impact of labour market reforms on the transmission of macroeconomic shocks in both non-reforming and reforming countries. By analysing the impact of reforms on foreign debt, we contribute to the debate on whether labour market reforms increase or reduce current account imbalances.
- Topic:
- Debt, Economics, Politics, Labor Issues, and Reform
587. The G20 and Gender Equality: How the G20 can advance women's rights in employment, social protection and fiscal policies
- Author:
- Wakefield Shawna
- Publication Date:
- 07-2014
- Content Type:
- Policy Brief
- Institution:
- Oxfam Publishing
- Abstract:
- In its 'World Development Report 2012: Gender Equality and Development', the World Bank asserted that gender equality was a core development objective in its own right and also 'smart economics' The same year, in their Los Cabos Declaration, G20 leaders committed to tackling the barriers to women's full economic and social participation and to expanding opportunities for women in their countries. Oxfam supports this commitment, and calls on the G20 to go further and assess the entirety of their agenda and actions in the light of development and rights-based commitments to women's rights and gender equality.
- Topic:
- Economics, Gender Issues, Politics, Labor Issues, and Sociology
588. What Goes into a Medal: Women's Inclusion and Success at the Olympic Games
- Author:
- Marcus Noland and Kevin Stahler
- Publication Date:
- 10-2014
- Content Type:
- Working Paper
- Institution:
- Peterson Institute for International Economics (PIIE)
- Abstract:
- This paper examines determinants of women's participation and performance in the Olympics. Female inclusion and success are not merely functions of size, wealth, and host advantage, but a more complex process involving the socio-economic status of women and, more weakly, broad societal attitudes on gender issues. Female labor force participation and educational attainment in particular are tightly correlated with both participation and outcomes, even controlling for per capita income. Female educational attainment is strongly correlated with both the breadth of participation across sporting events and success in those events. Host countries and socialist states also are associated with unusually high levels of participation and medaling by female athletes. Medal performance is affected by large-scale boycotts. Opening competition to professionals may have leveled the playing field for poorer countries. But the historical record for women's medal achievement is utterly distorted by the doping program in the former East Germany, which specifically targeted women. At its peak in the 1970s and 1980s, the program was responsible for 17 percent of the medals awarded to women, equivalent to the medal hauls of the Soviet or American team in 1972, the last Olympics not marred by widespread abuse of performance-enhancing drugs.
- Topic:
- Education, Gender Issues, Human Rights, and Labor Issues
- Political Geography:
- America and Germany
589. Wages and Labor Market Slack: Making the Dual Mandate Operational
- Author:
- Adam S. Posen and David G. Blanchflower
- Publication Date:
- 09-2014
- Content Type:
- Working Paper
- Institution:
- Oxfam Publishing
- Abstract:
- In this paper we examine the impact of rises in inactivity on wages in the US economy and find evidence of a statistically significant negative effect. These nonparticipants exert additional downward pressure on wages over and above the impact of the unemployment rate itself. This pattern holds across recent decades in the US data, and the relationship strengthens in recent years when variation in participation increases. We also examine the impact of long-term unemployment on wages and find it has no different effect from that of short-term unemployment. Our analysis provides strong empirical support, we argue, for the assessment that continuing labor market slack is a key reason for the persistent shortfall in inflation relative to the Federal Open Market Committee's (FOMC) 2 percent inflation goal. Further, we suggest our results point towards using wage inflation as an additional intermediate target for monetary policy by the FOMC.
- Topic:
- Economics, Markets, and Labor Issues
- Political Geography:
- United States and Middle East
590. The Trans-Atlantic Trade and Investment Partnership:European Disintegration, Unemployment and Instability
- Author:
- Jeronim Capaldo
- Publication Date:
- 10-2014
- Content Type:
- Working Paper
- Institution:
- Global Development and Environment Institute at Tufts University
- Abstract:
- According to its proponents, the Trans-Atlantic Trade and Investment Partnership will stimulate growth in Europe and in the US. Projections endorsed by the European Commission point to positive, although negligible, gains in terms of GDP and personal incomes. In a paradox, these projections also show that any gains in Trans-Atlantic trade would happen at the expense of intra-EU trade reversing the process of European economic integration. Furthermore, recent literature has pointed out several problems in the most influential assessment of the TTIP's effects. Projections by different institutions have been shown to rely on the same Computable General Equilibrium model that has proven inadequate as a tool for trade policy analysis. In this paper we assess the effects of TTIP using the United Nations Global Policy Model, which incorporates more sensible assumptions on macroeconomic adjustment, employment dynamics, and global trade. We project that TTIP will lead to a contraction of GDP, personal incomes and employment. We also project an increase in financial instability and a continuing downward trend in the labor share of GDP. Evaluated with the United Nations model, TTIP appears to favor economic dis-integration, rather than integration, in Europe. At a minimum, this shows that official studies do not offer a solid basis for an informed decision on TTIP.
- Topic:
- Economics, Globalization, International Trade and Finance, and Labor Issues
- Political Geography:
- United States, Europe, and United Nations