Social and Behavioral Sciences | Open Access Articles

Between 1970 and 2007, Missouri’s growth in income per capita was 41st in the nation. This dismal outcome is largely a function of its educational system. Its schools have not been competitive, either among the U.S. states or internationally. Lifting the quality of schools will by the historical evidence presented here produce large long-run gains for Missouri’s economy. Even though many youth have in the past migrated to other parts of the country, the strength of the Missouri economy will continue to rest mainly on those current students who will become the backbone of the future labor force. Improving the …

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Recent Research On The Minimum Wage: Implications For Missouri, Jonathan Meer Jan 2018

Recent Research On The Minimum Wage: Implications For Missouri, Jonathan Meer

Center for Applied Economics

The minimum wage has long been a contentious policy issue, but particularly so in Missouri in recent years. When St. Louis raised its city minimum wage in 2015, with increases planned to $11 per hour by 2018, legal battles held up implementation and a state law eventually overrode the local ordinance. This essay delves into the sources of this policy dispute, first by examining the theoretical issues involved, then focusing on recent research, particularly regarding outcomes other than the traditional focus on employment outcomes. Using minimum wage increases as an anti-poverty policy is not likely to succeed. While the empirical …

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Labor Market Freedom And Economic Prosperity: How Does Missouri Compare?, Dean Stansel Jan 2018

Labor Market Freedom And Economic Prosperity: How Does Missouri Compare?, Dean Stansel

Center for Applied Economics

Government restrictions on workers and employers tend to have a dampening effect on their ability to thrive. There have been numerous studies of the relationship between state labor market restrictions and labor market outcomes (as well as economic outcomes in general). As theory would imply, that literature generally has found a positive relationship between labor market freedom and various measures of positive economic outcomes. After a discussion of the concept of economic freedom and how it is measured in labor markets, this paper briefly reviews that literature. It also provides a detailed examination of how Missouri compares to its neighboring …

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Reforming Educator Compensation, Michael Podgursky Jan 2018

Reforming Educator Compensation, Michael Podgursky

Center for Applied Economics

While compensation accounts for roughly 90 percent of K-12 instructional costs, there is little evidence of efficient or strategic design in these systems. Rigid salary schedules reward factors generally unrelated to effectiveness, induce field shortages, and encourage inequitable allocation of professional staff. Deferred compensation systems impose sharp penalties on mobility, promote early retirement and generate large unfunded liabilities. Serious attempts to bring greater efficiencies to K-12 spending and raising teacher quality must confront the dysfunctional compensation system.

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Measuring Human Capital Across Countries: Iq And The Human Capital Index, Gail Heyne Hafer, R. W. Hafer Jan 2018

Measuring Human Capital Across Countries: Iq And The Human Capital Index, Gail Heyne Hafer, R. W. Hafer

Center for Applied Economics

It has been shown that country-level IQ and aggregated performance by school-age children on international assessment tests in math and science are by-in-large capturing analogous indicators of the cognitive human capital. We expand that analysis by comparing country-level IQ to the World Economic Forum’s Human Capital Index (HCI). This index, comprised of several dozen separate indicators, accounts for inputs and outcomes to measure human capital, across age profiles and gender. Two outcomes are of note. First, there is a positive, significant correlation between IQ and the vast majority of the component indicators in the HCI across all age cohorts. Second, …

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The State Of The Missouri Economy And Workforce, Timothy J. Gronberg, Dennis W. Jansen, Lori L. Taylor Jan 2018

The State Of The Missouri Economy And Workforce, Timothy J. Gronberg, Dennis W. Jansen, Lori L. Taylor

Center for Applied Economics

This article presents an overview of the state of the Missouri economy. We begin by assessing measures of economic output. Compared to the nation and to neighboring states, Missouri’s economy has hardly grown over the past 20 years. We identify several sources for this lackluster record. Perhaps one of the most important is the observation is that productivity in Missouri—output per worker—is lower than the national average. This poor productivity record quite possibly stems from two sources. One is problematic trends in labor force quality. A key factor here is a lack of commitment by the state to a higher …

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City-County Consolidation In St. Louis: An Analysis, Joshua Hall, Josh Matti Jan 2018

City-County Consolidation In St. Louis: An Analysis, Joshua Hall, Josh Matti

Center for Applied Economics

This report provides an analysis and evaluation of the proposed city-county consolidation in St. Louis. The report draws upon theoretical research considering the impact of local government consolidations on efficiency, equity, spillovers, and development. Where possible, we connect the ideas from the academic literature to arguments made regarding the situation in St. Louis. After exploring both the theoretical reasons for and against consolidation, we consider the real-world empirical evidence. Although city-county consolidations sometimes lead to positive outcomes, often they do not. Importantly, the context of consolidation matters. By understanding the importance of context with consolidations, we conclude with five lessons …

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Missouri's Economic Future Lies With School Reform, Eric A. Hanushek

Center for Applied Economics

Recent Research On The Minimum Wage: Implications For Missouri, Jonathan Meer

Center for Applied Economics

Labor Market Freedom And Economic Prosperity: How Does Missouri Compare?, Dean Stansel

Center for Applied Economics

Reforming Educator Compensation, Michael Podgursky

Center for Applied Economics

Measuring Human Capital Across Countries: Iq And The Human Capital Index, Gail Heyne Hafer, R. W. Hafer

Center for Applied Economics

The State Of The Missouri Economy And Workforce, Timothy J. Gronberg, Dennis W. Jansen, Lori L. Taylor

Center for Applied Economics

City-County Consolidation In St. Louis: An Analysis, Joshua Hall, Josh Matti

Center for Applied Economics