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Michaillat, Pascal; Saez, Emmanuel - National Bureau of Economic Research - 2022

Most governments are mandated to maintain their economies at full employment. We propose that the best marker of full employment is the efficient unemployment rate, u*. We define u* as the unemployment rate that minimizes the nonproductive use of labor--both jobseeking and recruiting. The...

Persistent link: https://www.econbiz.de/10013334429

The Costs of Job Displacement over the Business Cycle and Its Sources : Evidence from Germany

Schmieder, Johannes; Wachter, Till von; Heining, Jörg - National Bureau of Economic Research - 2022

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

The Active Role of the Natural Rate of Unemployment during Cyclical Recoveries

Hall, Robert Ernest; Kudlyak, Marianna - National Bureau of Economic Research - 2023

We propose that the natural rate of unemployment has an active role in the business cycle, in contrast to the prevailing view that the rate is essentially constant. We demonstrate that this tendency to treat the natural rate as near-constant would explain the surprisingly low slope of the...

Persistent link: https://www.econbiz.de/10014436979

When Institutions Interact : How the Effects of Unemployment Insurance are Shaped by Retirement Policies

Gudgeon, Matthew; Guzman, Pablo; Schmieder, Johannes; … - National Bureau of Economic Research - 2023

This paper shows empirically that the non-employment effects of unemployment insurance (UI) for older workers depend in a first-order way on the structure of retirement policies. Using German data, we first present reduced-form evidence of these interactions, documenting large bunching in UI...

Persistent link: https://www.econbiz.de/10014421233

Of Markets and Marriages : A Multidisciplinary, Multibook Review Essay of Recent Work on the Causes of U.S. Poverty

Ananat, Elizabeth Oltmans - National Bureau of Economic Research - 2024

I discuss recent books offering differing explanations for persistent U.S. poverty. Desmond (2023) argues that aid to low-income Americans is captured by more powerful market actors. I contextualize this concern as about incidence and consider both policies for changing incidence (by changing...

Persistent link: https://www.econbiz.de/10015072908

Moral Hazard and Unemployment in Competitive Equilibrium

Rey, Patrick; Stiglitz, Joseph E. - National Bureau of Economic Research - 2024

Principal-agent models take outside options, determining participation and incentive constraints, as given. We construct a general equilibrium model where workers' reservation wages and the maximum punishment acceptable before workers quit are instead determined endogenously. We simultaneously...

Persistent link: https://www.econbiz.de/10014635663

A Theory of Labor Markets with Inefficient Turnover

Blanco, Andres; Drenik, Andres; Moser, Christian; … - National Bureau of Economic Research - 2024

We develop a theory of labor markets with four features: search frictions, worker productivity shocks, wage rigidity, and two-sided lack of commitment. Inefficient job separations occur in the form of endogenous quits and layoffs that are unilaterally initiated whenever a worker's...

Persistent link: https://www.econbiz.de/10014544688

The Search for Good Jobs : Evidence from a Six-year Field Experiment in Uganda

Bandiera, Oriana; Bassi, Vittorio; Burgess, Robin; … - National Bureau of Economic Research - 2023

: vocational training, vocational training combined with matching youth to firms, and matching only. Training is offered in sectors … with high quality firms. The matching intervention assigns workers for interviews with such firms. At baseline, unskilled … firms. However, youth additionally offered matching become discouraged because call back rates from firm owners are far …

Persistent link: https://www.econbiz.de/10014337802

The Unexpected Compression : Competition at Work in the Low Wage Labor Market

Autor, David H.; Dube, Arindrajit; McGrew, Annie - National Bureau of Economic Research - 2023

Labor market tightness following the height of the Covid-19 pandemic led to an unexpected compression in the US wage distribution that reflects, in part, an increase in labor market competition. Rapid relative wage growth at the bottom of the distribution reduced the college wage premium and...

Persistent link: https://www.econbiz.de/10014247930

Worker Representatives

Budde, Julian; Dohmen, Thomas; Jäger, Simon; Trenkle, Simon - National Bureau of Economic Research - 2024

We study the descriptive and substantive representation of workers through worker representatives, focusing on the selection of German works council representatives and their impact on worker outcomes. Becoming a professional representative leads to substantial wage gains for the elected,...

Persistent link: https://www.econbiz.de/10014635703

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