Economists in the 2008 financial crisis: Slow to see,fast to act

We study the economics- and finance-scholars’ reaction to the 2008 financial crisis using machine learning language analyses methods of Latent Dirichlet Allocation and dynamic topic modelling algorithms, to analyze the texts of 14,270 NBER working papers covering the 1999–2016 period. We find that academic scholars as a group were insufficiently engaged in crises’ studies before 2008. As the crisis unraveled, however, they switched their focus to studying the crisis, its causes, and consequences. Thus, the scholars were “slow-to-see,” but they were “fast-to-act.” Their initial response to the ongoing Covid-19 crisis is consistent with these conclusions.     

Affective commitment,home-based working and the blurring of work–home boundaries: Evidence from Germany

Analysis of data from the representative German Linked Personnel Panel revealed that, overall, the use of home-based working is associated with a higher affective organisational commitment on the part of employees. However, this is less often the case when the use of home-based working involves the blurring of work–home boundaries. Perceived trust and fairness on the part of supervisors mediates the association between employees' experiences with working from home and their affective commitment. These results show that experiences with home-based working shape employees' perceptions of trust and fairness in their exchange relations with supervisors and thus their affective commitment to the organisation. Employees' experiences with home-based working that reflect its supportive implementation by their employers and supervisors are critical for their commitment. Our results provide the first evidence that in exchange relations between employees and supervisors, perceived fairness is as important as perceived trust.