Showing 1 - 10 of 35
Fiscal deficits, elevated debt-to-GDP ratios, and high inflation rates suggest hyperinflation could have potentially emerged in many European countries after World War I. We demonstrate that economic policy uncertainty was instrumental in pushing a subset of European countries into...
Persistent link: https://www.econbiz.de/10012453095
I estimate two factor models of Swiss exchange rates during the FirstWorldWar. I have data for five of the primary belligerents: Britain, France, Italy, Germany, and Austria-Hungary. At the outbreak of the war, these nations suspended convertibility of their currencies into gold with the promise...
Persistent link: https://www.econbiz.de/10012469448
Persistent link: https://www.econbiz.de/10000122609
We document the consequences of losing a job across countries using a harmonized research design. Workers in Denmark and Sweden experience the lowest earnings declines following job displacement, while workers in Italy, Spain, and Portugal experience losses three times as high. French and...
Persistent link: https://www.econbiz.de/10012938696
In spring 2005, Austria launched a campaign to inform employers and newspapers that gender preferences in job advertisements were illegal. At the time over 40% of openings on the nation's largest job-board specified a preferred gender. Over the next year the fraction fell to under 5%. We merge...
Persistent link: https://www.econbiz.de/10012660028
This paper examines the effects of a proportional capital gains tax in an economy with an Austrian sector (with wine and trees) and an ordinary sector. We analyze the effect of capital gains taxation (on both an accrual and a realization basis) on the efficiency with which resources are used...
Persistent link: https://www.econbiz.de/10012478357
The Austrian theory of the "marginal use" is restated and extended. It is found that the Austrian concept of marginal utility (as derived from the marginal use) is not dependent on cardinal utility, and indeed is consistent with "intrinsically ordinal" utility. In this system, diminishing...
Persistent link: https://www.econbiz.de/10012478959
This paper provides evidence on child penalties in female and male earnings in different countries. The estimates are based on event studies around the birth of the first child, using the specification proposed by Kleven et al. (2018). The analysis reveals some striking similarities in the...
Persistent link: https://www.econbiz.de/10012479479
We build a model where firm size is a source of labor market power. The key mechanism is that a granular employer can eliminate its own vacancies from a worker's outside option in the wage bargain. Hence, a granular employer does not compete with itself. We show how wages depend on employment...
Persistent link: https://www.econbiz.de/10012480183
We estimate the causal effect of permanent and premature exits from the labor force on mortality. To overcome the problem of negative health selection into early retirement, we exploit a policy change in unemployment insurance rules in Austria that allowed workers in eligible regions to exit the...
Persistent link: https://www.econbiz.de/10012480776