Publications

October 2021 (Revised November 2022)
Case

The 2012 Spanish Labor Reform: Lifting All Boats, or Leveling Down?

By: Vincent Pons, Rafael Di Tella, Santiago Botella and Elena Corsi

Since 1978, Spain had struggled to control unemployment. The country’s labor law was protective of employees hired long-term and companies used temporary contracts as buffers. In 2012, amid economic recession and a 23.6% unemployment rate, a center-right government of... View Details

Keywords: COVID-19 Pandemic; Labor Market; Unemployment; Recession; Globalized Markets and Industries; Government Legislation; International Relations; Working Conditions; Employment; Labor Unions; Contracts; Social Issues; Public Opinion; Governing Rules, Regulations, and Reforms; Spain; European Union

April–May 2021
Article

The Effect of Retaliation Costs on Employee Whistleblowing

By: Jonas Heese and Gerardo Pérez Cavazos

We use large increases in unemployment insurance (UI) benefits to study the effects of expected retaliation costs on employee whistleblowing. Increases in UI benefits reduce the costs that arise from a job loss, one of the costliest forms of retaliation. We find that... View Details

Keywords: Employee Whistleblowing; Retaliation Costs; Labor Unemployment Insurance; Workplace Safety Inspections

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November 2021 (Revised January 2024)
Case

The Global Great Depression, 1929-1939

By: Alberto Cavallo, Sophus A. Reinert and Federica Gabrieli

The Great Depression was, by far, the worst economic contraction of the twentieth century, and some of the most important ideas about both fiscal and monetary policy in the second half of the century were developed in response to it. The economic collapse, which... View Details

Keywords: Great Depression; Economic Conditions; Unemployment; Homelessness; Financial Crisis; History; Economy; Policy; Poverty; Social Issues; Economic Slowdown and Stagnation

December 2017
Case

International Institute of Tropical Agriculture

By: Jose B. Alvarez and Sarah Mehta

It is July 2017, and Dr. Nteranya Sanginga, the director general of the Nigeria-based International Institute of Tropical Agriculture (IITA), is making progress toward two of his primary strategic objectives for the nonprofit research Institute: 1) to scale the impact... View Details

Keywords: Scaling Technologies; Youth Unemployment; Innovation In Nonprofits; Agribusiness; Plant-Based Agribusiness; Cash Flow; Labor; Employment; Commercialization; Problems and Challenges; Agriculture and Agribusiness Industry; Africa; Nigeria

April 2015
Teaching Note

International Macroeconomics — An Online Tutorial

By: Laura Alfaro and Elizabeth A. Meyer

This is the Teaching Note to accompany "International Macroeconomics", HBS Tutorial 715-702. View Details

Keywords: International Macroeconomics; International Economy; Current Account; Unemployment; Inflation; Monetary Policy; Fiscal Policy; Gdp; Macroeconomics; Money; Business Cycles; Inflation and Deflation; Trade

April 2015
Tutorial

Introduction to International Macroeconomics

By: Laura Alfaro and Elizabeth A. Meyer

This tutorial is a web-based, interactive program which will provide students with an introduction to the basic principles of macroeconomics and international macroeconomics. View Details

Keywords: International Macroeconomics; International Economy; Current Account; Unemployment; Inflation; Monetary Policy; Fiscal Policy; Gdp; Macroeconomics; Money; Business Cycles; Inflation and Deflation; Trade

01 Feb 2021
What Do You Think?

Has the New Economy Finally Arrived?

pandemic) that challenge traditional economic theory centered on the so-called Phillips curve. It’s a simple economic model named after the economist who explored the positive relationship between low unemployment and higher wage rates.... View Details

Keywords: by James Heskett

22 Apr 2022
Research & Ideas

Companies Can Expand Their Talent Pool by Giving Ex-Convicts a Second Chance

Employers looking to fill critical job vacancies may want to turn to a largely untapped pool of willing workers: people with criminal records. Employers are often wary of hiring workers with past convictions, leading to double-digit View Details

Keywords: by Jay Fitzgerald

23 Nov 2020
Research & Ideas

COVID Was Supposed to Increase Bankruptcies. Instead, They've Gone Down.

Consumer bankruptcies usually climb alongside unemployment rates as filers seek to discharge debt and get a fresh start, write the authors of the new working paper Bankruptcy and the COVID-19 Crisis. “Historically, the number one cause of... View Details

Keywords: by Rachel Layne

1998
Working Paper

Some Evidence on the Optimal Welfare State Based on Subjective Data

By: Rafael Di Tella and Robert MacCulloch

It is often difficult to evaluate all the costs and benefits of the welfare state. This paper suggests an alternative approach based on surveys of citizen satisfaction with welfare programs. In the first part of the paper we estimate the level of unemployment benefits... View Details

Keywords: Personal Characteristics; Employment; Surveys; Programs; Government and Politics; Age; Income; Residency; Welfare; Governing Rules, Regulations, and Reforms; Cost vs Benefits; Satisfaction; United Kingdom

24 Mar 2022
Research & Ideas

Why Cutting Jobless Aid Isn't the Answer to Worker Shortages

About half of US states—mostly run by Republican governors—cut off extended unemployment benefits months before the federal government was planning to end them on Labor Day last year, convinced workers would flood back to employers who... View Details

Keywords: by Rachel Layne

2017
Working Paper

The Decline of Big-Bank Lending to Small Business: Dynamic Impacts on Local Credit and Labor Markets

By: Brian S. Chen, Samuel G. Hanson and Jeremy C. Stein

Small business lending by the four largest banks fell sharply relative to others in 2008 and remained depressed through 2014. We explore the dynamic adjustment process following this credit supply shock. In counties where the largest banks had a high market share, the... View Details

Keywords: Small Business; Financing and Loans; Banks and Banking; System Shocks; Credit; Labor; United States

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20 May 2011
News

R.I. near top of foreclosure rates

March 2004 (Revised November 2004)
Case

Great Depression, Mass Unemployment, and Business Leadership, The

Explores the texture of mass unemployment during the Great Depression in the United States. Business leaders offer assessments of the Great Depression and the New Deal. View Details

Keywords: History; Employment; Financial Crisis; United States

10 Apr 2020
News

Why Atlanta apartment landlords are faring better than others in many U.S. metros

30 May 2017
News

Latest College Graduates Enter A More Optimistic Economy

2023
Other Unpublished Work

Unprecedented: Remote Work and the Strange Economy of 2023

By: Randolph B. Cohen

The low unemployment rate which suggests a strong economy and the low productivity and GDP growth that seems more consistent with less robust conditions sit uneasily together. It's a mystery! But it may be that societal changes like remote work can reconcile the... View Details

Keywords: Economy; Economic Growth; Economic Slowdown and Stagnation; Employment; Working Conditions

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14 Feb 2023
Blog Post

Recruiting During Uncertainty: How to Meet Students Where They Are

The early 2023 job market is a story of mixed signals. Scrolling their LinkedIn newsfeed, students are seeing a sea of layoffs. Yet at the same time the unemployment rate has hit a 53-year low. Some companies are proactively seeking more... View Details

Keywords: All Industries

2016
Report

The New Role of Business in Global Education

By: Mark R. Kramer, Greg Hills, Kate Tallant, Matt Wilka and Anjali Bhatt

Shared value defines a new role for business in helping to overcome the global education and unemployment crisis. By aligning profit with purpose, companies can become essential partners for schools, nonprofits, and governments while simultaneously discovering new ways... View Details

Keywords: Shared Value; Education; Employment; Global Range; Business Ventures