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Extensive literature demonstrates that workers with high tenure suffer large and persistent earnings losses when they are displaced. We study the reasons behind these losses in a tractable search model that includes a lifecycle dimension, endogenous job mobility, and worker- and...
Persistent link: https://www.econbiz.de/10009620943
Extensive literature demonstrates that workers with high tenure suffer large and persistent earnings losses when they are displaced. We study the reasons behind these losses in a tractable search model that includes a lifecycle dimension, endogenous job mobility, and worker- and...
Persistent link: https://www.econbiz.de/10013099734
An extensive empirical literature has documented that workers with high tenure suffer large and persistent earnings losses when they get displaced. We study the reasons behind these losses in a tractable search model with a life-cycle dimension, endogenous job mobility, worker - and match...
Persistent link: https://www.econbiz.de/10013103124
Large and persistent earnings losses following displacement have adverse consequences for the individual worker and the macroeconomy. Leading models cannot explain their size and disagree on their sources. Two mean-reverting forces make earnings losses transitory in these models: search as an...
Persistent link: https://www.econbiz.de/10012951559
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/10012906473
Wages grow but also become more unequal as workers age. Using German administrative data, we largely attribute both life-cycle facts to one driving force: some workers progress in hierarchy to jobs with more responsibility, complexity, and independence. In short, they climb the career ladder....
Persistent link: https://www.econbiz.de/10012910732
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
We provide new estimates on worker flow rates in and out of unemployment for Germany covering the last six decades. In the 1980s, Germany emerged as the sick man of Europe with a labor market characterized by persistently high unemployment rates. We attribute a substantial fraction of the rise...
Persistent link: https://www.econbiz.de/10012979454
Spatial differences in labor market performance are large and highly persistent. Using data from the United States, Germany, and the United Kingdom, we document striking similarities in spatial differences in unemployment, vacancies, job finding, and job filling within each country. This robust...
Persistent link: https://www.econbiz.de/10012660077
Labor markets are characterized by large heterogeneity in job stability. Some workers hold lifetime jobs, whereas others cycle repeatedly in and out of employment. This paper explores the economic consequences of such heterogeneity. Using Survey of Consumer Finances (SCF) data, we document a...
Persistent link: https://www.econbiz.de/10013314915