Many factors contribute to choice of employment other than compensation. This study extends the current literature by testing whether a compensating differential exists in employment sectors deemed morally satisfying. Data from the 1998 salary survey of the National Association for Business Economics (NABE) and sector rankings addressing moral satisfaction provided by a sample of college students are used in a regression analysis. When we include a self-selection correction in the salary regression, business economists in the for-profit sector earned almost 150 percent more than their nonprofit counterparts, once controlling for the choice of employment sector and human capital variables. Average wages were economically and statistically higher for business economists situated in the mi...
A panel of business economists representing the National Association of Business Economics (NABE) predicts positive movement in the economy and have marked up theft predictions for economic growth in 2010 and expect performance to exceed its long-term trend. After declaring in October that the Great Recession of 2008-2009 was over, the NABE forecast panel is snow boosting its expectations for growth. The fourth quarter of 2009 is now slated far a 3.0% pace of real GDP growth and 2010 is predicted to experience a gain of 3.2% over its four quarters. Business investment will bean engine of growth driving the economic recovery. First, the massive inventory liquidation of 2008-2009 is expected to hit bottom during this year, with restocking slated for 2010. Second, business spending on equi...
, by Marion Fourcade, is reviewed.
WASHINGTON - The best hiring market in five years should limit the damage from inflation and position the economy to thrive in the second half of the year. Higher food and gas prices are threatening to slow growth this spring. However, economists say the drag from inflation will likely be only temporary. Commodity prices are easing. Gas prices could follow in the weeks ahead.
It is pretty much accepted now by economists that monetary policy -- meaning the Federal Reserve's ability to influence interest rates by raising or lowering the borrowing rate offered to banks -- cannot permanently alter the unemployment rate or growth rate of the economy. The Humphrey-Hawkins Act of 1978 explicitly mandated the Federal Reserve to achieve the dual targets of low inflation and maximum employment. A lot of questions have been raised concerning inflation guidelines and flexible targeting. There is not a pressing need to make a decision on guidelines one way or the other. There clearly are many issues regarding guidelines and targeting for researchers, business economists, and policymakers to study and debate. No matter what answers surface, people will learn more about th...
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