US Private Sector Research Articles

Do pay secrecy policies prevent voluntary turnover?

AbstractPay secrecy (PS) policies, commonly found in the US private sector, restrict pay communication among employees. Previous research suggests that these policies help prevent pay dissatisfaction and attrition among low earners by limiting salary comparisons. However, by exploiting the staggered adoption of PS bans across US states as a negative shock to PS, I find no causal relationship between PS and voluntary turnover. This suggests that workers' reluctance to ask others about their pay renders PS policies irrelevant for retention purposes. This, in turn, highlights the need for organizations to consider alternative approaches to enhance employee retention and commitment.

Utilization of antiobesity medications within the Military Health System.

The prevalence of overweight and obesity among beneficiaries of the Military Health System (MHS) is 41.6% and 30.5%, respectively. This incurs significant medical, fiscal, and military readiness costs. It is not currently known how the utilization of antiobesity medications (AOMs) within the MHS compares with that in the Veterans Health Administration or the private sector. Our aim was to assess the utilization of AOMs within the MHS. A cross-sectional study was conducted using data gathered from the MHS Data Repository and the inclusion of all adult TRICARE Prime and Plus beneficiaries ages 18 to 64 years who were prescribed at least one TRICARE-approved AOM during the years 2018 to 2022. The total study population included 4,414,127 beneficiaries, of whom 1,871,780 were active-duty service members. The utilization of AOMs among the eligible population was 0.56% (0.44% among active-duty personnel). Liraglutide was the most-prescribed AOM (36% of the total). Female sex, age greater than or equal to 30 but less than 60 years, and enlisted or warrant officer rank were all associated with statistically significant higher odds of receiving AOMs. Comparable with the US private sector, the MHS significantly underutilizes AOMs, including among active-duty service members, despite coverage of AOMs since 2018.

What Can Unions Do? An Impact Estimate for an Increase in the US Private-Sector Unionization Rate on Workers’ Earnings

Unions are known to increase earnings and wage equality. Therefore, indications for recent union revitalization provoke the question of what unions would do today were they to restore their union density and hence power to the level of the early 1980s (about 20%). This article presents wage estimates for 1983 to 2020, assuming a 20% union density from 1983 onward, revealing higher earnings and lower wage inequality. However, since union membership today typifies low-wage workers with weaker bargaining power than formerly, the benefits from restoring union density and power will likely be lower today than in the past.

Forex market as the best possible way of investing money during an economic boom and recession

Abstract Since the beginning of the 1980s, a continuous process of integration of national and regional markets into one global market for goods, services and capital can be noticed. Both economic theory and market practice indicate that the level of the exchange rate primarily depends on macroeconomic variables (such as interest rates or the number of new jobs in the non-agricultural sector). The results of the research presented in the article regard the importance of US macroeconomic data publications for the short-term volatility of EUR/USD exchange rate. The main purpose of the study was to show whether macroeconomic data from the United States affects the short-term development of the EUR/USD exchange rate and whether the Forex market is a good way to multiply capital. The following research questions have been posed: does the EUR/USD exchange rate react to the published macroeconomic data from the American economy? Second, is whether investing in the Forex market could be a way to multiply capital in times of economic boom and recession. This paper presents the effects of my own research and observations in terms of the impact of US macroeconomic data, on shaping exchange rates of the Forex market. Based on my own investment experience my goal is to prove, that Forex market is a perfect way to multiply capital. My investment decisions regarding future exchange rate fluctuations, were based on the presented macroeconomic data from the US economy, as well as on the basis of important leading economic indicators. The position was opened and closed on the same day. The trading contracts have been made throughout 7 working days. The underlying financial instruments were EUR/USD and OIL. The conclusions of this study are as follows. The USD/PLN exchange rate reacted to the published macroeconomic data from USA. The strongest exchange rate reaction was noticed after publications of data regarding US Non-farm Payrolls (NFP), Initial Jobless Claims and ISM Services PMI. Strong exchange rate reaction was recorded after ADP US Private Sector Jobs and Factory orders report. When taking described investment examples into account, it can be clearly stated that investing in the Forex market is an excellent alternative to stock investments.

Динамика финансовой хрупкости компаний нефинансового частного сектора США

The purpose of this article is to test the hypothesis that the share of financially fragile firms in the US is growing along with the approaching macroeconomic or financial crisis. Two criteria were used to measu­re financial fragility. According to the Mulligan criterion, the speculative financing regime dominated the US private sector, and according to the Davis with coauthors criterion, it was the hedge regime. The low share of Ponzi firms — compared to countries that implemented austerity policies (e. g. Greece, Portugal and the Netherlands) — could be explained by the US government’s expansionary fiscal and monetary policies, which sought to maintain the revenue of the US private sector at an ‘acceptable level’ in the times of crisis. The most fragi­le industry was consumer cyclicals, and the least fragile, healthcare. Our econometric analysis, based on panel-based fixed-effects logistic regression, demonstrated that the probability of becoming a Ponzi-financed firm — according to the Mulligan criterion — is affected by the amount of its debt, the presence or absence of a crisis in a particular year, its total capital stock, and net income after tax. Thus, the financial instability hypothesis — tested against the Mulligan criterion in the form of the interest coverage ratio — is confirmed for private US firms: for several years, before the onset of both crises considered, the number and share of Ponzi firms grew steadily. The accumulation of financial fragility before, during, and after the Great Recession — measured according to the criterion described in Davis et al. — does not fit the logic of the financial instability hypothesis: the dynamics of the number and share of Ponzi firms is not related to cyclical fluctuations in GDP.

Labor-Market Concentration and Labor Compensation

This article estimates the effect of labor-market concentration on labor compensation across the US private sector since 2000. The authors distinguish between concentration in local labor markets and local product markets while guarding against bias from confounded product-market concentration. The analysis extends beyond wages to rates of employment-based health insurance coverage. Reported results suggest negative effects of labor-market concentration on labor compensation. These effects are exacerbated when product-market concentration is higher or when workers are older.

Paid sick leave among USprivate sector employees.

Inequities in USemployees' access to paid sick leave are known, but it is not clear whether they are increasing or decreasing over time. More than two dozen state and local paid sick leave laws were recently enacted, many with the stated goal of reducing inequities in access to paid sick leave. We examined how inequities in access to paid sick leave have changed over time, focusing on the years when these laws were coming into effect. Private sector employees participating in the National Health Interview Survey between 2006 (before laws came into effect) and 2018 (after most came into effect) reported if they had paid sick leave in their main job. We examined how differences in access to paid sick leave by Census region, race/ethnicity, work hours, and educational attainment changed over time. The percentage of employees with access to paid sick leave increased from 56% in 2006 to 61% in 2018, with most of the increases in access occurring in the West. Inequities by race/ethnicity decreased substantially between 2015 and 2018, the years when most paid sick leave laws came into effect. This change was driven by Hispanic and Latino workers rapidly gaining access to paid sick leave during this time. Differences in access to paid sick leave by work hours and education attainment remained stable over time. Inequities in access to paid sick leave remain. Paid sick leave laws could be effective means to increase access to paid sick leave and equalize access.

Accomplishing SDG 5 in the Labor Market: A Framework to Advance Gender Equality in Corporate America

In 2015, United Nations Member States adopted 17 goals - referred to as the Sustainable Development Goals (SDGs) - to create a more sustainable and prosperous world for future generations. One of these goals, SDG 5, focuses on achieving gender equality by 2030. Despite the commitment made to advance the gender equality agenda, not enough progress has been made to date. The lack of progress is significant across many spheres, such as in corporate America. Gender inequality can be observed in the American private sector through gender pay gaps, the underrepresentation of women in the workplace, and gender bias in recruitment and promotion processes. Although there is vast scholarly literature on how gender imparity can be observed in the America labor market, there is not enough academic literature on how gender inequality can efficiently be eliminated in the US private sector. The following paper examines available tools, strategies, and resources that companies can employ to overcome gender imparity, and offers readers an original framework that American companies can refer to annually to improve their gender performance and advance SDG 5. The paper also outlines the benefits that closing the gender gap in corporate America offers to both, civil society, and private enterprises.

Planning and Responding to a Petrochemical Disaster in the North American Inland Seas

The Great Lakes represent the largest group of freshwater lakes in the world along a 1,500 mile international boundary between the United States and Canada. A source of drinking water for 35 million people and a hub of unique biodiversity, a major petrochemical spill would be devastating. With the increase in pipeline activity due to regional tar sands drilling and the navigationally challenging waterways hosting an increasing stream of petrochemical commerce, risk to the Lakes is higher than ever. Given the Lake's closed-system nature and their geographic remoteness relative to current US and Canadian government and private sector assets, the current response posture is inadequate. As the primary maritime spill response agency in the United States, the US Coast Guard retains the mantle of prevention and planning for a Great Lakes petrochemical disaster. This paper seeks to examine the historic, current, and future states of the Great Lakes' oil-spill risk, in light of increased maritime commerce and recent spill “near-misses” regarding submerged pipelines in the Straits of Mackinac. The US Congress and the US Coast Guard have identified that the Great Lakes are not prepared for a large scale spill. Current resourcing levels and technology are insufficient, especially given the challenge of responding while the Lakes are frozen for a substantial portion of the year. With resources focused on the prospect of disaster in salt water regions, the “inland seas” of the Great Lakes receive too little attention. After identifying the evolution of Great Lakes spill prevention and response policy, this paper will apply the Gulf of Mexico Deepwater Horizon spill as a case study into what spill response would look like on the Great Lakes. Given the authors' expansive experience as an operator during that historic spill and current commander of one of two US oil spill response assets in the Great Lakes, this paper will also identify remaining challenges to an effective spill response policy, and conclude with recommendations on how to tackle the response issues identified. The US Congress recently established the US Coast Guard's National Center of Expertise for the Great Lakes and one of their primary tasks is to analyze the effect of a spill in freshwater and develop an appropriate response plan. By attempting to identify critical gaps, this paper seeks to advance government and industry's ability to posture the region swiftly in the face of a growing threat and assist in the Center's work.

Bringing drug production home: how the US is rebuilding the drug supply chain after covid-19

The US government and private sector are committing billions of dollars to create more secure supply chains and bring a portion of that manufacturing capacity back home. <b>Bob Roehr</b> reports.

Psychology, market pressures, and pricing decisions in higher education: the case of the US private sector

We examine listed tuition and institutional aid practices within the US private sector, a sector where market pressures are relatively strong and consequently influence organizational behavior. We present a conceptual framework that highlights three psychological aspects of pricing—the price-quality heuristic, ego-expressive aspects of aid, and the silver lining effect—that can influence the attractiveness of specific pricing strategies to prospective students. We review relevant literature from psychology, marketing, and behavioral economics to illustrate that these three psychological aspects should be especially important in higher education. Furthermore, we identify pricing strategies that could position colleges and universities advantageously within market-based competition due to these aspects. The key elements of the strategy include high listed tuition, widespread institutional aid awards, and aid awards that are framed in a manner that confers distinction upon the recipient. We use data from a range of sources to describe the nuanced ways in which these pricing strategies are used within the US private sector. Our empirical analysis reveals that many schools, especially those in the middle of the prestige hierarchy, provide institutional aid to all or almost all of their incoming students, which allows them to set listed tuition prices well above the demonstrated willingness to pay of students. We also present evidence that aid awards are named in a manner that exaggerates the distinction conferred by the award. Our conclusion highlights implications of our work for students, organizations, policymakers, and future research.

Economic factors affecting Thailand’s frozen shrimp export volume to the United States and Japan

A Study of Economic Factors Affecting Thailand’s Frozen Shrimp Export Volume to the United States and Japan which hypothesized that there are economic factors that affect the quantity of frozen shrimp exports from Thailand to the United States, namely the Manufacturing Production Index classified by production activity, Frozen Seafood (MPI), Domestic Wholesale Shrimp Price (PRIshrimp), United States Gross Domestic Product (GDPU.S.A.), Per Capita Income of US Population (PCIU.S.A.), Rate Of Change In Private Consumption And Consumption Expenditures Of The US Private Sector (PCEU.S.A.) and assumed that there are economic factors affecting the quantity of frozen shrimp exports to Japan, namely the Manufacturing Production Index classified by production activity, Frozen Seafood Category (MPI), Domestic Wholesale Shrimp Price (PRIshrimp) , Japan Gross Domestic Product (GDPJapan), Per Capita Income Of Japanese Population (PCIJapan), Rate Of Change In Private Consumption And Consumption Expenditures Of The Japanese Private Sector (PCEJapan) which are consistent with the research of Pathumnakul, S., Khamjan, S., &amp; Piewthongngam, K. (2007). Will use secondary data by collecting data on a monthly basis from January 2017 to December 2019 with the analysis of complex regression equations. By the least-squares estimation method, the study found that the economic factors affecting frozen shrimp export volume of Thailand to the United States in the same direction are manufacturing production index classified by production activity, frozen seafood category, wholesale shrimp prices in the country, the gross domestic product of USA, income per capita of the United States population and rate of change in US private consumption expenditure has no effect on the export volume of frozen shrimp from Thailand to the United States. For economic factors affecting the frozen shrimp export volume of Thailand to Japan in the same direction is statistically significant, the manufacturing production index classified by production activity, frozen seafood category, wholesale shrimp prices in the country, the gross domestic product of Japan, income per capita of the Japanese population and the rate of change in Japanese private consumption expenditure has no effect on the export volume of frozen shrimp from Thailand to Japan. Keywords: economic factors, frozen shrimp, export volume.

Can COVID-19 Accelerate Technologicaltransformations?

In this paper, we present evidence about the short-term impact of COVID-19 on the labor market in the United States. During the second quarter of 2020, the pandemic destroyed 18 million jobs in the US private sector. For economics policies we inquire as to why some sectors, occupations, and demographic groups are more affected than others. We find that factors directly related to the epidemic are essential. Employees in occupations working in proximity to others are more affected, while occupations able to work remotely are less affected. We would expect that employment in these occupations should recover rapidly post-pandemic. But, we also find that sectors with a large fraction of occupations at risk of automation present a significantly higher contraction on employment. The contraction is mainly driven by sectors that underwent a capital deepening process in ICT and Software previous to the pandemic. A sector with one standard deviation higher in the share of employment in occupation at risk of automation cuts around 5 percentage points more employment during the second quarter of 2020. The same sector, but with one standard deviation higher increase in technology capital, cuts employment by around 7 percent. This evidence is in line with the similar cleansing process during the Great Recession. COVID-19 is catalyzing the automation process, and employment losses related to this phenomenon could be permanent.

Нормативно-правове супроводження процесу створення об’єктів права інтелектуальної власності в США

В статті міститься аналіз чинних в США стратегічних підходів та порядку функціонування процесу захисту об’єктів права інтелектуальної власності. Розглянуті спільні скоординовані зусилля Конгресу, Адміністрації Президента та інших гілок влади, приватного сектору США щодо інтелектуальної власності з метою досягнення успіху інноваційної політики цієї країни. В статі також наведені результати досліджень Інституту оборонного аналізу США щодо врахування в політиці оборонних закупівель вимог стосовно охорони інтелектуальної власності.

Comparing US public university and US private sector project costs

PurposeThis study aims to focus on the factors influencing project cost at US public universities and compares them to similar projects in the US private sector. It also presents an analysis of the potential reasons for the difference or similarities in the two sectors.Design/methodology/approachThis study utilized an exploratory, comparative case study methodology performed on a small sample of public university projects and two sources of private sector cost data.FindingsThe results infer that most of the US public projects have comparable costs to that of their US private sector counterparts. The cost data from the university projects were further examined to explore if there were any possible relationships between the types of delivery methods used, sustainability certifications achieved and two project performance indexes – cost and duration.Research limitations/implicationsA more thorough analysis with a larger dataset is required to make generalizable conclusions. However, the process used in this study does provide a good overview of how facility managers could organize their own cost comparison study to evaluate their project expenditures.Practical implicationsThis research provides a starting point for future research into the topic of US public sector project costs when compared to US private sector counterparts and the impact of delivery system and sustainability on cost of US public sector projects.Originality/valueResearch on this topic is scant; as such, this paper provides a starting point for future research and offers insights into the potential impacts of project delivery method and choice of following a sustainability certification option.

Hierarchy and the power-law income distribution tail

What explains the power-law distribution of top incomes? This paper tests the hypothesis that it is firm hierarchy that creates the power-law income distribution tail. Using the available case-study evidence on firm hierarchy, I create the first large-scale simulation of the hierarchical structure of the US private sector. Although not tuned to do so, this model reproduces the power-law scaling of top US incomes. I show that this is purely an effect of firm hierarchy. This raises the possibility that the ubiquity of power-law income distribution tails is due to the ubiquity of hierarchical organization in human societies.

Predictors of latent tuberculosis infection treatment completion in the US private sector: an analysis of administrative claims data

BackgroundFactors that affect latent tuberculosis infection (LTBI) treatment completion in the US have not been well studied beyond public health settings. This gap was highlighted by recent health insurance-related regulatory changes that are likely to increase LTBI treatment by private sector healthcare providers. We analyzed LTBI treatment completion in the private healthcare setting to facilitate planning around this important opportunity for tuberculosis (TB) control in the US.MethodsWe analyzed a national sample of commercial insurance medical and pharmacy claims data for people ages 0 to 64 years who initiated daily dose isoniazid treatment between July 2011 and March 2014 and who had complete data. All individuals resided in the US. Factors associated with treatment completion were examined using multivariable generalized ordered logit models and bivariate Kruskal-Wallis tests or Spearman correlations.ResultsWe identified 1072 individuals with complete data who initiated isoniazid LTBI treatment. Treatment completion was significantly associated with less restrictive health insurance, age < 15 years, patient location, use of interferon-gamma release assays, non-poverty, HIV diagnosis, immunosuppressive drug therapy, and higher cumulative counts of clinical risk factors.ConclusionsPrivate sector healthcare claims data provide insights into LTBI treatment completion patterns and patient/provider behaviors. Such information is critical to understanding the opportunities and limitations of private healthcare in the US to support treatment completion as this sector’s role in protecting against and eliminating TB grows.

Sustainable Financial Obligations and Crisis Cycles

The ability to distinguish between sustainable and excessive debt developments is crucial for securing economic stability. By studying US private sector credit loss dynamics, we show that this distinction can be made based on a measure of the incipient aggregate liquidity constraint, the financial obligations ratio. Specifically, as this variable rises, the interaction between credit losses and the business cycle increases, albeit with different intensity depending on whether the problems originate in the household or the business sector. This occurs 1–2 years before each recession in the sample. Our results have implications for macroprudential policy and countercyclical capital-buffers.

Private firm pricing and propensity to go public: evidence from mutual funds holdings

Purpose The purpose of this study is to focus on mutual funds’ valuations of their US private firm holdings. According to extant academic literature, mutual funds’ boards of directors should assign prices to their private firm stocks based on their own determination of fair value. Design/methodology/approach This study investigates fluctuations in valuations of mutual funds holdings of private firms, and whether or not mutual funds managers are able to pick privately held firms that eventually undergo an initial public offer. Findings The study shows that private firm common stocks’ prices fluctuate much more than preferred stocks’; however, as expected, preferred stock is the most selected security type. This study also investigates these firms’ propensity to undergo an initial public offering (IPO). Results show that mutual funds allocated most of their capital to US private sector firms that underwent an initial public offering. Logit model results reveal that fund managers are able to pick privately held firms that will go public. Research limitations/implications Due to data limitations, the authors’ analysis does not control for venture capital ownership; an issue the authors plan to address in the future. Originality/value Though, research in this area may exist, the authors have not found academic literature related to holdings of private firms by mutual funds, pricing by funds’ boards of directors or the motives for such investments.

Job Creation, Job Destruction, and Productivity Growth: The Role of Young Businesses

Recent improvements in the data infrastructure at US statistical agencies have dramatically enhanced the ability to measure and study job creation and job destruction. The longitudinal data now permit the tracking of all firms and establishments in the US private sector in a comprehensive and integrated manner. This allows researchers to distinguish between the contribution of new firms and that of new establishments. In addition, firm entry, growth, and survival dynamics can be tracked in terms of organic changes instead of changes associated with mergers and acquisitions or other forms of business ownership changes. These new developments have led to a burgeoning literature on US firm dynamics. The recent literature has especially focused on the role of young businesses for job and productivity growth. The findings from that literature are the focus of the current article. The recent developments are discussed in light of the large literature on firm dynamics (in terms of both theory and empirics) that has developed over the past few decades.