LOCAL LABOR MARKETS AND NATURAL RESOURCES: A SYNTHESIS OF THE LITERATURE

A primary way that natural resources affect a locality is through the demand for labor, with greater extraction requiring more workers. Shifts in labor demand can be measured through changes in employment and earnings, the main labor market outcomes, or through changes in the population and income, more generally. These changes may spillover into the nonresource economy, leading to greater overall effects or possibly crowd out; be spread unequally across the population, thereby altering the distribution of income and the poverty rate; or influence educational attainment, as people choose between additional schooling and work. In this review, the literature linking natural resources to local labor markets is synthesized by organizing existing studies according to their resource measurement and the outcomes that they consider. This synthesis provides an accessible guide to a literature that has boomed in recent years. It also identifies promising avenues for future research and lays a foundation to further generalize the evidence through an eventual meta‐analysis.     

Oh the places they’ll go. Examining the early career path of hospitality alumni

ABSTRACT

This research adds to the overall literature and academic understanding of early career progression of hospitality professionals. The results of an analysis of the career profiles of graduates of an undergraduate business school majoring in Hospitality and Tourism Management indicate that there are five potential career paths for hospitality professionals graduating from this program. The groups are (1) Traditional Hospitality; (2) Stallers; (3) Nonhospitality; (4) Loyalists; and (5) Entrepreneurs. The findings indicate that there is substantial job movement in the first three years after graduation. Further, if promotion happens within the first 6 months to a year, graduates are more likely to stay with the organization. Finally, those that leave hospitality are likely to go into highly related fields such as health care and real estate.     

DATA‐DRIVEN DRAFTING: APPLYING ECONOMETRICS TO EMPLOY QUARTERBACKS

We show that firms can employ data‐driven methods to improve their hiring decisions. Specifically, we use data available to National Football League (NFL) teams prior to the NFL draft to estimate econometric models that predict the future performance of drafted quarterbacks. As our methods are replicable, stakeholders can use them to improve the draft's efficiency and help it accomplish its mission to promote competitive balance. Furthermore, data‐driven methods such as ours can help firms avoid biases against employee characteristics that do not affect future job performance. (JEL L83)     

Narcissistic rhetoric and crowdfunding performance: A social role theory perspective

Drawing from clinical and organizational narcissism research, we develop a novel measure of narcissistic rhetoric, investigating its prevalence in a sample of 1863 crowdfunding campaigns. An experiment using 1800 observations further validates our measure and confirms our hypothesized inverted-U relationship between narcissistic rhetoric and crowdfunding performance. Leveraging social role theory, we explore sex, sexual orientation, and race as potential moderators of this relationship. Moderation tests reveal LGBTQ entrepreneurs generally yield greater performance when using narcissistic rhetoric than heterosexuals while racial minorities underperform Caucasians using narcissistic rhetoric. Our findings suggest successful crowdfunding campaigns must balance narcissistic rhetoric with entrepreneurs' perceived social roles.     

Expectations,the exchange rate,and the current account

A critical examination is undertaken of the relationship between the exchange rate and the current account in a small open economy. Theoretically, the correlation between the exchange rate and the current account seems to be ambiguous. In particular, the association between movements in the exchange rate and the current account is likely to depend in an essential manner on the nature of exogenous disturbances affecting the two variables simultaneously. Lastly, the question of the role of an optimal monetary policy and the choice of an exchange rate regime in an uncertain environment is raised.     

Energy conservation — what price a local initiative?

With the collapse of oil prices, shortages and long term increases in energy prices seem far away, and conservation is the last thing on our minds. Thus, national energy supply monopolies encourage the use rather than conservation of energy, whilst the alleged prospect of a long-term increase in electricity demand is used to justify investment in nuclear power. This article examines how decentralisation and a greater local involvement in national energy policy could overcome this contradiction. It also finds that the conservation strategies developed, after the oil crisis of the 1970's, in several other countries have, surprisingly, no British equivalent.     

A Dynamic Analysis of University Agricultural Biotechnology Patent Production

This article examines the factors that account for agricultural biotechnology patenting success among universities using a dynamic count data model. It builds a theoretical and econometric model to capture the inherently dynamic and nonlinear process of technological innovation, wherein a feedback mechanism from previous success partially determines current patent counts. The econometric estimates reveal the importance to agricultural biotechnology patent production of land grant infrastructure, quality faculty, patent-oriented technology transfer offices, as well as dynamic feedback effects.