PALESTRANTE:
Esra Ugurlu
FILIAÇÃO INSTITUCIONAL: Lecturer at the University of Leeds.

ABSTRACT: This paper examines the effects of labour shortages on investment rates in the European Union using three distinct datasets at different levels of aggregation. From a theoretical perspective, labour shortages can constrain firms’ ability to invest, as a higher rate of accumulation without sufficient personnel to utilise the expanded capital stock could prove inefficient. Conversely, labour scarcity may stimulate investment by incentivizing a shift toward more capital-intensive production techniques. Moreover, labour shortages could influence investment through its effect on workers’ bargaining power and hence profitability. Our aggregate findings, based on a cross-country and industry-level data, suggest a positive relationship between labour shortages and the investment rate. However, we find that the aggregate data mask important differences across firms and sectors. Using a unique firm-level dataset, constructed by merging the European Investment Bank Investment Survey with Orbis, we find that the effects of labour shortages on investment differ across sectors. While the relationship is positive for the service sector firms, investment rates tend to be lower in manufacturing and construction firms.

DATA: 14/04/2025
HORA: 16h40
SALA: 203

INFORMAÇÕES GERAIS.
Os seminários ocorrerão às segundas-feiras na sala 203. A sala tem que ser liberada até 18:15, pois à noite ela é utilizada pelo curso noturno.

Os alunos de mestrado e doutorado em tempo integral têm que obter uma frequência mínima de 75% nos seminários e os demais uma frequência mínima de 50%.
Haverá lista de assinatura recolhida no evento presencial

PALESTRANTE:
Adam Aboobaker
FILIAÇÃO INSTITUCIONAL: Global Development Institute - University of Manchester; University of the Witwatersrand; Paris School of Economics..

LEIA AQUI!

ABSTRACT: Expansionary fiscal policy and a corresponding tightening in labour markets has been seen as a corrective to decades of macro-policy that may have contributed to rising wage inequality. Reviewing the evidence for and against this perspective, we use US Current Population Survey (CPS) data to construct measures of wage inequality and Bureau of Labour Statistics measures of labour market conditions from which we estimate wage-Phillips curves that control for individual characteristics, along with time and state fixed effects. Our empirical findings accord with studies that find labour market conditions an important determinant of nominal wage dynamics. However, our findings point in a direction emphasising that the dramatic compression of wage inequality during the recent pandemic and its aftermath were plausibly driven by special circumstances, including power-biased policy intervention. We do not find evidence in line with a generalised cyclical movement in wage inequality. Moreover, we caution against interpretations that extend the cyclical relationship between labour market tightness and wage inequality to the long run.

DATA: 17/04/2025
HORA: 13h30
SALA: 203