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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

Labor Market Networks and Recovery from Mass Layoffs : Evidence from the Great Recession Period

Hellerstein, Judith K. - 2015

We measure the impact of labor market referral networks defined by residential neighborhoods on re-employment following … mass layoffs. Because networks can only be effective when hiring is occurring, we focus on a measure of the strength of the … some evidence that local labor market networks are linked to re-employment following mass layoffs for lower-earning workers …

Persistent link: https://www.econbiz.de/10012457405

Firms with Benefits? Nonwage Compensation and Implications for Firms and Labor Markets

Ouimet, Paige; Tate, Geoffrey - National Bureau of Economic Research - 2023

Using administrative data on health insurance, retirement, and leave benefits, we find within-firm variation accounts for a dramatically lower percentage of total variation in benefits than in wages. We also document sharply higher between-firm variation in nonwage benefits than in wages. We...

Persistent link: https://www.econbiz.de/10014322850

Sticky Wages on the Layoff Margin

Davis, Steven J.; Krolikowski, Pawel - National Bureau of Economic Research - 2023

We design and field an innovative survey of unemployment insurance (UI) recipients that yields new insights about wage stickiness on the layoff margin. Most UI recipients express a willingness to accept wage cuts of 5-10 percent to save their jobs, and one third would accept a 25 percent cut....

Persistent link: https://www.econbiz.de/10014337762

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

. Losses in annual earnings after displacement are large, persistent, and highly cyclical, nearly doubling in size during …

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

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

Job Loss, Job Finding, and Unemployment in the U.S. Economy Over the Past Fifty Years

Hall, Robert E. - 2005

New data compel a new view of events in the labor market during a recession. Unemployment rises almost entirely because jobs become harder to find. Recessions involve little increase in the flow of workers out of jobs. Another important finding from new data is that a large fraction of workers...

Persistent link: https://www.econbiz.de/10012466998

Job Security and Work Force Adjustment : How Different are U.S. and Japanese Practices?

Abraham, Katharine G. - 1989

This paper compares employment and hours adjustment in Japanese and U.S. manufacturing. In contrast to some previous work, we find that adjustment of total labor input to demand changes is significantly greater in the United States than in Japan; adjustment of employment is significantly greater...

Persistent link: https://www.econbiz.de/10012475886

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