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Does High Inflation Cause Central Bankers to Lose Their Job? Evidence Based on a New Data Set
Dreher, Axel; Sturm, Jan-Egbert; de Haan, Jakob - 2021
This paper introduces new data on the term in office of central bank governors in 137 countries for 1970-2004. Our panel models show that the probability that a central bank governor is replaced in a particular year is positively related to the share of the term in office elapsed, political and...
Persistent link: https://www.econbiz.de/10013316991
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Discrimination, Managers, and Firm Performance : Evidence from "Aryanizations" in Nazi Germany
Huber, Kilian; Lindenthal, Volker; Waldinger, Fabian - 2021
Large-scale increases in discrimination can lead to dismissals of highly qualified managers. We investigate how … expulsions of senior Jewish managers, due to rising discrimination in Nazi Germany, affected large corporations. Firms that lost … Jewish managers experienced persistent reductions in stock prices, dividends, and returns on assets. Aggregate market value …
Persistent link: https://www.econbiz.de/10013314854
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Unemployment and Endogenous Reallocation Over the Business Cycle
Carrillo-Tudela, Carlos - 2020
This paper studies the extent to which the cyclicality of gross and net occupational mobility shapes that of aggregate unemployment and its duration distribution. Using the SIPP, we document the relation between workers' (gross and net) occupational mobility and unemployment duration over the...
Persistent link: https://www.econbiz.de/10012833736
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What Hides Behind the German Labor Market Miracle? Unemployment Insurance Reforms and Labor Market Dynamics
Hartung, Benjamin - 2019
A key question in labor market research is how the unemployment insurance system affects unemployment rates and labor market dynamics. We revisit this old question studying the German Hartz reforms. On average, lower separation rates explain 76% of declining unemployment after the reform, a fact...
Persistent link: https://www.econbiz.de/10012892207
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Labor Responses, Regulation and Business Churn
Aloi, Marta - 2019
We develop a model of sluggish firm entry to explain short-run labor responses to technology shocks. We show that the labor response to technology and its persistence depend on the degree of returns to labor and the rate of firm entry. Existing empirical results support our theory based on...
Persistent link: https://www.econbiz.de/10012892301
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The Beveridge Curve and Labour Market Flows - a Reinterpretation
Gottfries, Nils - 2019
According to search-matching theory, the Beveridge curve slopes downward because vacancies are filled more quickly when unemployment is high. Using monthly panel data for local labour markets in Sweden we find no (or only weak) evidence that high unemployment makes it easier to fill vacancies....
Persistent link: https://www.econbiz.de/10012867870
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Working Time Accounts and Turnover
Launov, Andrey - 2019
Working time account is an organization tool that allows firms to smooth their demand for hours employed. Descriptive literature suggests that working time accounts are likely to reduce layoffs and inhibit increases in unemployment during recessions. In a model of optimal labour demand I show...
Persistent link: https://www.econbiz.de/10012859602
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Internal Labor Markets : A Worker Flow Approach
Huitfeldt, Ingrid; Kostol, Andreas; Nimczik, Jan; … - 2021
This paper develops a new method to study how workers’ career and wage profiles are shaped by internal labor markets (ILM) and job hierarchies in firms. Our paper tackles the conceptual challenge of organizing jobs within firms into hierarchy levels by proposing a data-driven ranking method...
Persistent link: https://www.econbiz.de/10013216768
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Skill Mismatch and the Costs of Job Displacement
Neffke, Frank; Nedelkoska, Ljubica; Wiederhold, Simon - 2022
When workers are displaced from their jobs in mass layoffs or firm closures, they experience lasting adverse labor market consequences. We study how these consequences vary with the amount of skill mismatch that workers experience when returning to the labor market. Using novel measures of skill...
Persistent link: https://www.econbiz.de/10013290765
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Lockdown Strategies, Mobility Patterns and COVID-19
Askitas, Nikolaos - 2020
We develop a multiple-events model and exploit within and between country variation in the timing, type and level of intensity of various non-pharmaceutical interventions to study their dynamic effects on the daily incidence of COVID-19 and on population mobility patterns across 135 countries....
Persistent link: https://www.econbiz.de/10012832076