To test the predictions of this model, we use data from 13 US states who passed pay transparency laws protecting the “right of workers to talk” (ROWTT) about wages prior to federal policies extending these rights to all government contract workers in 2016. Using a multi-period difference-in-differences (“event study”) design, we find that ROWTT laws decrease the average wages of full-time workers by roughly 2% over the three years following enactment.
The size of this effect is mediated by the degree of individual bargaining power that workers have before the enactment of these laws. We find a negligible impact on the wages of unionized occupations and a bigger impact on wages of college-educated workers with higher individual bargaining power, whose wages decline on average by 4%
To test the predictions of this model, we use data from 13 US states who passed pay transparency laws protecting the “right of workers to talk” (ROWTT) about wages prior to federal policies extending these rights to all government contract workers in 2016. Using a multi-period difference-in-differences (“event study”) design, we find that ROWTT laws decrease the average wages of full-time workers by roughly 2% over the three years following enactment.
The size of this effect is mediated by the degree of individual bargaining power that workers have before the enactment of these laws. We find a negligible impact on the wages of unionized occupations and a bigger impact on wages of college-educated workers with higher individual bargaining power, whose wages decline on average by 4%
Pavel Durov, a billionaire who embraces an all-black wardrobe and is often compared to the character Neo from "the Matrix," funds Telegram through his personal wealth and debt financing. And despite being one of the world's most popular tech companies, Telegram reportedly has only about 30 employees who defer to Durov for most major decisions about the platform. You may recall that, back when Facebook started changing WhatsApp’s terms of service, a number of news outlets reported on, and even recommended, switching to Telegram. Pavel Durov even said that users should delete WhatsApp “unless you are cool with all of your photos and messages becoming public one day.” But Telegram can’t be described as a more-secure version of WhatsApp. Telegram, which does little policing of its content, has also became a hub for Russian propaganda and misinformation. Many pro-Kremlin channels have become popular, alongside accounts of journalists and other independent observers. The S&P 500 fell 1.3% to 4,204.36, and the Dow Jones Industrial Average was down 0.7% to 32,943.33. The Dow posted a fifth straight weekly loss — its longest losing streak since 2019. The Nasdaq Composite tumbled 2.2% to 12,843.81. Though all three indexes opened in the green, stocks took a turn after a new report showed U.S. consumer sentiment deteriorated more than expected in early March as consumers' inflation expectations soared to the highest since 1981. For example, WhatsApp restricted the number of times a user could forward something, and developed automated systems that detect and flag objectionable content.
from ms
