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Beyond the pandemic: From life support to structural change

Beyond the pandemic: From life support to structural change
voxeu.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from voxeu.org Daily Mail and Mail on Sunday newspapers.

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Human capital, working time flexibility and discrimination in the gender wage gap

Claudia Hupkau, Barbara Petrongolo
Despite changes in social norms and policy reforms over recent decades, gaps in hourly wages between similarly qualified women and men remain significant, ranging between 10% and 20% in most OECD countries (OECD 2018). The ongoing COVID-19 crisis has made the issue of addressing gender wage gaps even more pressing, as most of the increased household responsibilities fall to women, which may further reduce their earnings in the long term (Fabrizio et al. 2020, Queisser et al. 2020, Sun and Russell 2021).
In order to devise effective policies to narrow gender wage gaps, we first need to understand what their drivers are. In a new paper (Ciminelli et al. 2021), we source data on earnings, hours worked, and many other labour market and demographic characteristics for over 33 million individuals in 25 European countries to analyse the role of social norms and discrimination (‘sticky floors’) as well as the wage penalty related to childbirt ....

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India's Sustained Economic Recovery Will Require Changes to Its Bankruptcy Law - Carnegie India - Carnegie Endowment for International Peace

Summary
One of the key drivers of economic recovery in India will be the efficient movement of capital from inefficient firms to efficient ones. The economic downturn caused by the coronavirus pandemic has been severe, and India’s economy was one of the worst affected in 2020–2021. Though the economy is recovering faster than initial estimates, sustained economic recovery will not take place if stressed businesses cannot restructure their debts properly or if failing firms cannot be resolved efficiently. India’s bankruptcy law is key to solving these challenges.
In 2016 India enacted the Insolvency and Bankruptcy Code, 2016 (IBC), which was a landmark reform to the nation’s financial system and the first comprehensive law to regulate insolvency. ....

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Boosting women's labour-force participation to lift long-term growth

Boosting women's labour-force participation to lift long-term growth
voxeu.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from voxeu.org Daily Mail and Mail on Sunday newspapers.

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Survival of the Biggest

December 13, 2020 | Survival of the Biggest
John Mauldin
John Mauldin is a renowned financial expert, a
New York Times best-selling author, and a pioneering online commentator. Each week, over 1 million readers turn to Mauldin for his penetrating view on Wall Street, global markets, and economic history.
The essential point to grasp is that in dealing with capitalism we are dealing with an evolutionary process… At the heart of capitalism is creative destruction.
…Situations emerge in the process of creative destruction in which many firms may have to perish that nevertheless would be able to live on vigorously and usefully if they could weather a particular storm. ....

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