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We document the sources behind the costs of job loss over the business cycle using administrative data from Germany. Losses in annual earnings after displacement are large, persistent, and highly cyclical, nearly doubling in size during downturns. A large part of the long-term earnings losses...
Persistent link: https://www.econbiz.de/10013334381
workers are unemployed. Both the reemployment hazard rate and reemployment earnings steadily fall with unemployment duration …
Persistent link: https://www.econbiz.de/10014250138
This paper shows empirically that the non-employment effects of unemployment insurance (UI) for older workers depend in … difficult-to-explain trends in the unemployment rate of older German workers …
Persistent link: https://www.econbiz.de/10014421233
Licensed workers could be shielded from unemployment during recession since occupational licensing laws are asymmetric …-in-differences event study research design that exploits cross-state variation in licensing laws to compare the unemployment rate between …, we find that licensing shields workers from a recession-induced increase in the unemployment rate of 0.82 p.p. during …
Persistent link: https://www.econbiz.de/10014544764
We systematically review studies of how unemployment benefits affect unemployment duration. Statistically significant …
Persistent link: https://www.econbiz.de/10015056158
We study asset-pricing implications of innovation in a general-equilibrium overlapping-generations economy. Innovation increases the competitive pressure on existing firms and workers, reducing the profits of existing firms and eroding the human capital of older workers. Due to the lack of...
Persistent link: https://www.econbiz.de/10012463192
In a two-period Lucas tree economy in which ex ante identical, but ex post dissimilar, agents face undiversifiable labor income risk, calibrating a (wrong) representative agent model results in overstating the equilibrium riskfree rate and in understanding the equilibrium equity premium if the...
Persistent link: https://www.econbiz.de/10012475007
technological progress may lead to technological unemployment - via efficiency wage effects and as a transitional phenomenon. Lastly …
Persistent link: https://www.econbiz.de/10012453539
error in unemployment rates as an exogenous variation. Unfortunately, we find that this approach falls prey to the very … the effects of unemployment benefit extensions on the labor market and attempt to reconcile their apparently disparate …
Persistent link: https://www.econbiz.de/10012456395
We study how an economy's production structure determines the response of aggregate output and employment to sectoral financial shocks. In our framework, economic production is organized in an input-output network in which firms face financial constraints on their working capital. We show how...
Persistent link: https://www.econbiz.de/10012456463