America’s labor market has entered a “new normal” phrase. Although the unemployment rate has declined after the Great Recession, underemployment remains a major problem and the percentage of workers stuck in part-time jobs is well above historical norms. Yet, at the same time, employers are posting a record number of positions. Professor Joseph Fuller suggests that resolving this paradox will require education institutions and employers to adopt a new approach to skills training.
Professor Michael E. Porter discusses the economic benefits from North America's unconventional oil and gas energy resources. Professor Porter discusses the unconstructive debate around these resources, and what should be done to fully realize their benefits while minimizing environmental and climate impacts.
This paper develops a novel clustering algorithm that systematically generates and assesses sets of cluster definitions (i.e., groups of closely related industries).
By: Christian Ketels
A new framing of competitiveness clarifies the role of regions.
This paper evaluates the role of regional cluster composition in the economic performance of industries, clusters and regions.
Industries located in regions with strong clusters (i.e. a large presence of other related industries) experience higher growth in new business formation and start-up employment.
The performance of regional economies varies markedly in terms of wage, wage growth, employment growth, and patenting rate.
In the modern competitive marketplace, nations have their own competitive advantages. These are investigated and discussed in-depth.