2016

It’s Where You Work: Increases in the Dispersion of Earnings across Establishments and Individuals in the United States.
Erling Barth, Alex Bryson, James C. Davis, and Richard B. Freeman. 2016. “It’s Where You Work: Increases in the Dispersion of Earnings across Establishments and Individuals in the United States.” Journal of Labor Economics, Special Issue dedicated to Edward Lazear, 34, S2, Pp. S67-S97. Publisher's VersionAbstract

This paper analyzes the role of establishments in the upward trend in dispersion of earnings that has become a central topic in economic analysis and policy debate. It decomposes changes in the variance of log earnings among individuals into the part due to changes in earnings among establishments and the part due to changes in earnings within establishments. The main finding is that much of the 1970s–2010s increase in earnings inequality results from increased dispersion of the earnings among the establishments where individuals work. Our results direct attention to the role of establishment-level pay setting and economic adjustments in earnings inequality.

GETTING REAL ABOUT ISLAMIC FINANCE
Larry W. Beeferman and Dr Allan Wain. 5/2016. GETTING REAL ABOUT ISLAMIC FINANCE. Publisher's VersionAbstract
Despite the size of what has been termed the “Islamic Finance market” – currently in the range of $2 Trillion – and the expectation that it will, in coming years, continue to grow rapidly, many investors have little or no familiarity with it. Precisely what is meant by the phrase varies. It might be cast as finance, the understanding and practice of which is informed in some measure by “the Islamic narrative”; that is, accounts of the world and the place of people within and their relations to it drawn from the constellation of beliefs, commitments, and practices associated with Islam. The paper seeks to introduce investors to the potential relevance and significance of Islamic Finance for the decisions that they make. It does so through an exploration of views about the “real” in three related senses: prominent efforts, within the context of Western finance, to promote investment in so-called “real assets”; especially in the wake of the Global Financial Crisis, concern about “financialization,” particularly as it pertains to ideas about and the relationships between a so-called “real economy” and a/the financial sector or sphere; and the importance of notions of the “real” which are quite prominent in characterizations of the conceptual underpinnings for and the practice of Islamic finance.
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Congratulations to HTUP Graduate

August 18, 2016
Congratulations to Edward A. Kelly, on becoming the General Secretary Treasurer of the International Association of Fire Fighters (IAFF). Mr. Kelly, graduate of the Harvard Trade Union Program class of 2015, was recently elected in 2016 at the IAFF 53rd Convention.