AEI is rereleasing some of its most prescient and groundbreaking works from its earliest thinkers and innovators. These books, part of a series called AEI Classics, are available for download as Adobe Acrobat PDFs.
"Davis, Haltiwanger, and Schuh's book is a wonderfully clear and detailed description of the creation and destruction of jobs. It will be the standard in a rapidly expanding literature in the U.S. and abroad on this subject."
--Bruce Meyer, Professor of Economics, Northwestern University
Job Creation and Destruction is the culmination of a long, ongoing research program at the Center for Economic Studies. Using the most complete plant-level data source currently available--the Longitudinal Research Data constructed by the Census Bureau--it focuses on the U.S. manufacturing sector from 1972 to 1988 and develops a statistical portrait of the microeconomic adjustments to the many economic events that affect businesses and workers. The picture that emerges is one of large, persistent, and highly concentrated gross job flows, with job destruction dominating the cyclical feaures of net job flows.
The authors describe in detail those characteristics that destroy and create jobs over time (including industry of origin, wage payments, international trade exposure, factor intensity, size, age, and productivity performance), while also providing a broader measure of the process that will be directly relevant to macroeconomists and policymakers.
Steven J. Davis is a professor of economics at the University of Chicago, John C. Haltiwanger is a professor of economics at the University of Maryland, and Scott Schuh is an economist at the Federal Reserve Bank of Boston.
What lies ahead for Cuba after Castro? Mark Falcoff writes that an economically unviable and otherwise dysfunctional Cuba could in coming years pose an even bigger threat to the United States than in its communist heyday.
The promise of "healthy aging" offers significant opportunities for economic growth and development for Europe in the decades ahead--if governments and citizens are willing to grasp them.
