Using Compustat, we present a surprising empirical fact: that at the firm level, the capital stock is at least as volatile as labor if not more. Given both recent research which has found unexpected large labor movements at the micro-level, and the standard textbook assumption that the capital stock is fixed in the short run, this finding seems even more unforeseen. This result holds for a wide...

This paper represents the latest installment in a highly influential series of papers in which Paul Beaudry and Franck Portier shed light on the empirics and theory of demand shocks. The present paper makes two contributions. One is to show that a standard neoclassical model augmented to allow for labor market segmentation can produce comovement in output, consumption, investment, hours, and th...

In protest of the COVID-19 lockdowns, crowds gathered in downtown Chicago to “Re-Open Illinois” during May 2020. One sign particular, held by a white woman an American flag mask, drew particular attention: “ARBEIT MACHT FREI, JB,” invoking German phrase hung above Nazi concentration camps taunt then governor Illinois, J.B. Pritzker. Reactions this anonymous were swift, but critics missed that J...

I find John Taylor’s review of the mistakes of the past very inspiring, but I am not willing to write off time-consistency problems as easily as he does. In some European countries, strong labor movements seem to have imposed unrealistically high employment goals on fiscal and monetary policy. These movements seem to have done their best to block any reform and deregulation of labor markets and...

Fixed-term contract employment has increasingly replaced regular open-ended employment as the predominant form of employment notably in developing countries. Guided by factory-level evidence showing nuanced patterns of co-movements of regular and contract wages, we propose a two-tiered task based model with self-enforcing contracts in which firms allocate complex tasks to long term employees at...

Standard methods of monitoring the fetus and maternal health during labor are cardiotocogram, tocography, ultrasound and magnetocardiograpghy. These methods have some limitations in real time continuous monitoring and cause some degree of inconvenience to the patient and demand special attendance of the obstetrician also these methods cannot be used for continuous monitoring of the fetal well b...

INSTITUTIONALIZING SOCIAL MOVEMENTS: THE SPREAD OF U.S. RECYCLING ADVOCACY GROUPS Michael Lounsbury Cornell University School of Industrial & Labor Relations and Department of Sociology In this paper, I study how social movements become institutionalized through an examination of the diffusion of U.S. recycling advocacy groups. While the literature on social movements has interpreted social mov...

Much of what we know about strikes is grounded in the context of postwar Fordism, a unique historical moment of relatively institutionalized labor-management relations. Yet the resurgence of corporate resistance over the past quarter century, coupled with an increasingly hostile political and economic climate, has fundamentally transformed the American industrial landscape. Drawing from this re...