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%
Overall, extreme levels of fear in the market seems to have morphed into something more resembling concern. For example, the Cboe Volatility Index fell from its 2022 peak of 36, which it hit Monday, to around 30 on Friday, a sign of easing tensions. Meanwhile, while the price of WTI crude oil slipped from Sunday’s multiyear high $130 of barrel to $109 a pop. Markets have been expecting heavy restrictions on Russian oil, some of which the U.S. has already imposed, and that would reduce the global supply and bring about even more burdensome inflation. Stocks closed in the red Friday as investors weighed upbeat remarks from Russian President Vladimir Putin about diplomatic discussions with Ukraine against a weaker-than-expected print on U.S. consumer sentiment. Investors took profits on Friday while they could ahead of the weekend, explained Tom Essaye, founder of Sevens Report Research. Saturday and Sunday could easily bring unfortunate news on the war front—and traders would rather be able to sell any recent winnings at Friday’s earlier prices than wait for a potentially lower price at Monday’s open. If you initiate a Secret Chat, however, then these communications are end-to-end encrypted and are tied to the device you are using. That means it’s less convenient to access them across multiple platforms, but you are at far less risk of snooping. Back in the day, Secret Chats received some praise from the EFF, but the fact that its standard system isn’t as secure earned it some criticism. If you’re looking for something that is considered more reliable by privacy advocates, then Signal is the EFF’s preferred platform, although that too is not without some caveats. At the start of 2018, the company attempted to launch an Initial Coin Offering (ICO) which would enable it to enable payments (and earn the cash that comes from doing so). The initial signals were promising, especially given Telegram’s user base is already fairly crypto-savvy. It raised an initial tranche of cash – worth more than a billion dollars – to help develop the coin before opening sales to the public. Unfortunately, third-party sales of coins bought in those initial fundraising rounds raised the ire of the SEC, which brought the hammer down on the whole operation. In 2020, officials ordered Telegram to pay a fine of $18.5 million and hand back much of the cash that it had raised.
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