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Carrillo-Tudela, Carlos; Kaas, Leo; Lochner, Benjamin - 2023

) low-wage firms and low-wage workers are more likely to match via networks or the public agency, while high-wage firms and … high-wage workers succeed more often via job postings; (ii) job postings help firms the most in poaching and attracting … high-wage workers and help workers the most in climbing the job ladder. To evaluate the implications of these findings for …

Persistent link: https://www.econbiz.de/10014469418

Land Collateral and Labor Market Dynamics in France

Kaas, Leo; Pintus, Patrick A.; Ray, Simon - 2014

The value of land in the balance sheet of French firms correlates positively with their hiring and investment flows. To explore the relationship between these variables, we develop a macroeconomic model with firms that are subject to both credit and labor market frictions. The value of...

Persistent link: https://www.econbiz.de/10010420682

Efficient firm dynamics in a frictional labor market

Kaas, Leo; Kircher, Philipp - 2011

The introduction of firm size into labor search models raises the question how wages are set when average and marginal product differ. We develop and analyze an alternative to the existing bargaining framework: Firms compete for labor by publicly posting long-term contracts. In such a...

Persistent link: https://www.econbiz.de/10010274866

Recruitment Policies, Job-Filling Rates and Matching Efficiency

Carrillo-Tudela, Carlos; Gartner, Hermann; Kaas, Leo - 2020

search eﬀort and wage policies play only a minor role. …

Persistent link: https://www.econbiz.de/10012227639

Job Ladder and Wealth Dynamics in General Equilibrium

Kaas, Leo; Lalé, Etienne; Siassi, Nawid - 2023

job ladder featuring sequential wage bargaining, endogenous search effort of employed and non-employed workers, and …

Persistent link: https://www.econbiz.de/10014469868

Recruitment Policies, Job-Filling Rates and Matching Efficiency

Carrillo-Tudela, Carlos - 2020

search effort and wage policies play only a minor role …

Persistent link: https://www.econbiz.de/10012833745

How Do Expectations About the Macroeconomy Affect Personal Expectations and Behavior?

Roth, Christopher; Wohlfart, Johannes - 2018

Using a representative online panel from the US, we examine how individuals’ macroeconomic expectations causally affect their personal economic prospects and their behavior. To exogenously vary respondents’ expectations we provide them with different professional forecasts about the...

Persistent link: https://www.econbiz.de/10011887414

Risk Exposure and Acquisition of Macroeconomic Information

Roth, Christopher; Settele, Sonja; Wohlfart, Johannes - 2020

We conduct an experiment with a representative sample from the US to study households' demand for macroeconomic information. Respondents who learn of a higher personal exposure to unemployment risk during recessions increase their demand for an expert forecast about the likelihood of a...

Persistent link: https://www.econbiz.de/10012314921

Block-Recursive Equilibria in Heterogenous-Agent Models

Kaas, Leo - 2020

Equilibrium models with heterogeneous agents and aggregate uncertainty are difficult to analyze since policy functions and market prices depend on the cross-sectional distribution over agents’ state variables which is generally a high-dimensional object. This paper develops and applies a...

Persistent link: https://www.econbiz.de/10012425643

Uncertainty and Information Acquisition: Evidence from Firms and Households

Mikosch, Heiner; Roth, Christopher; Sarferaz, Samad; … - 2021

We leverage the small open economy Switzerland as a testing ground for basic premises of macroeconomic models of endogenous information acquisition, using tailored surveys of firms and households. First, we show that firms perceive a greater exposure to exchange rate movements than households,...

Persistent link: https://www.econbiz.de/10012799762