Labour
BoE paper tests optimal policy when workers lose skills
Working paper asks how optimal monetary policy is affected by ‘human capital depreciation’; finds strict inflation targeting can be improved upon
PBoC chief economist sees ‘very low’ risk of hard landing
Ma Jun argues slowdown in investment will be offset by services and health care spending; describes Hong Kong-Shanghai ‘stock connect' programme as 'major breakthrough'
BoJ paper studies factors holding workers back from switching industries
Researchers find that differences in required tasks aggravate earnings gaps and encourage workers not to move, creating frictions in the Japanese labour market
Korea needs more women and young people in work, paper finds
Labour market ‘duality' and low youth and female employment are holding back growth, according to paper written by Bank of Korea and IMF economists
New York Fed study finds Puerto Rico emigration has not led to 'brain drain'
Island's population has been falling for a decade due to emigration, but share of college graduates has increased as low-skilled workers are leaving in greater numbers
Redistribution can boost demand but cut output, warns Fed working paper
Richmond Fed working paper points out that although taking from the rich to give to the poor can boost aggregate demand, it may also disincentivise work
Policy must do more to get women and low-skilled into work, paper finds
Slovak economists analyse the elasticity of labour supply and find that changes in the tax and benefits system could entice women in particular into the workforce
Fed's Bullard wants more research into what drives labour market participation
St Louis Fed president concludes the existing literature suggests demographics are behind most of the decline in participation, but calls for more detailed work on household participation decisions
San Fran economists suggest labour market leading indicators
Economists identify the six best indicators for assessing the degree to which labour market conditions are improving; find the existing rate of recovery will continue ‘if not accelerate’ in coming months
Financial crisis caused significant shift in the euro area Beveridge curve
ECB paper finds that labour market consequences of the crisis have been heterogeneous across countries, with Spain and Germany diverging the most
Fed paper investigates decline in US labour market mobility
Study identifies drop in interstate migration since 1980s; attributes fall to stronger internal labour markets rather than demographic or sociological factors
Mexican deputy targets productivity obstacles
Bank of Mexico’s Manuel Sánchez attributes low GDP per capita to ‘stagnant’ productivity; urges structural reform
Finland paper recommends ‘unpleasant reforms’
Research published by the Bank of Finland advocates slowing public sector growth and lowering taxes; will boost labour supply and competition
Sarb deputy says domestic woes are impacting growth
South African Reserve Bank deputy governor says domestic issues, including labour strikes, are dictating price and exchange rate concerns; growth rate likely to need downward revision
National Bank of Hungary paper surveys wage rigidities
Paper presents findings of large European survey conducted by central banks; finds wages are more rigid than prices, but various factors determine the frequency of adjustment
Kansas Fed Economic Review discusses barriers to mobile payments in US
Kansas Fed’s latest economic review discusses supply- and demand-side issues limiting the use of mobile payments in the US
Curacao and Sint Maarten governor discusses benefits of more women in labour force
Greater female participation in labour market key to meeting demographic challenges of the future, says Emsley Tromp
Households hedge labour risk: Riksbank paper
Riksbank study shows households hedge labour income risk in more volatile jobs market
Bank of Israel paper on increasing Palestinian employment
Bank of Israel study quantifies effects of an increase in work permits to the Palestinian labour force
Labour distribution affected by firing costs: Bank of Canada paper
Bank of Canada study shows wage inequality rises as employers face higher firing costs
Wage contract negotiations often sparked by high inflation: NY Fed paper
New York Federal Reserve study says large deviations from expected inflation levels often trigger new labour contract renegotiations
RBA paper on lessons from Australia's labour market since 2000
Reserve Bank of Australia study says evidence from labour market since 2000 shows decline in number of hours worked can prove an effective adjustment mechanism during downturns
Bank of Finland reviews policy implications of labour immobility
Bank of Finland research newsletter discusses the effects of resource mobility on monetary policy
Bank of Italy paper on impact of conservative central banking
Bank of Italy study identifies three strategic channels through which central bank conservatism influences wages