underestimate wages elsewhere. We document this anchoring bias by eliciting workers' beliefs in a representative survey in Germany …

We model unemployment allowing workers to differ by comparative advantage in market work. Workers with comparative …

act strategically. Workers face unemployment costs, can negotiate for higher wages, are protected by employment … firm's workforce on its capital structure. For instance, high leverage often makes managing labor more difficult by … undermining employees' job security and increasing the need for costly workforce reductions. But firms can also use leverage to …

logistics services in administrative data using the universe of social security records in Germany. We document a dramatic … growth of domestic outsourcing in Germany since the early 1990s. Event-study analyses show that wages in outsourced jobs fall …

administrative data from Germany, we analyze 34,000 unexpected worker deaths, which, on average, raise the remaining workers' wages …

establishments; b) the amplitude and propagation of cyclical fluctuations in flows between employment and unemployment; c) the … negative comovement of unemployment and vacancies in the form of the Beveridge curve; and d) the dynamics of the distribution …

explaining the persistent high unemployment that prevailed in interwar Britain. It develops a new measure of sectoral shifts that … aggregate unemployment during the interwar period, even after controlling for a variety of shocks to aggregate demand, and for … roughly one-half of the variation in unemployment, suggesting an important role for sectoral shifts …

This paper analyzes the effects of demand shifts within and between local labor markets on unemployment and employment … large fractions of the observed variation in unemployment and employment rate levels and changes across markets. Within …-area shifts cause much smaller and insignificant amounts of unemployment if they are between-industry, while shifts within areas …