Job loss comes with large present value earnings losses which elude workhorse models of unemployment and labor market policy. I propose a parsimonious model of a frictional labor market in which jobs differ in terms of unemployment risk and workers search off- and on-the-job. This gives rise to...

Does the COVID-19 pandemic cause people unhappy? In this study, we use a recent survey from China, Japan, South Korea, Italy, the United Kingdom and the United States to explore this question. We find a relatively large effect: a one per-mille point increase in the incidence of the COVID-19...

Die Arbeit setzt sich mit den Möglichkeiten kausaler Inferenz in Beobachtungsstudien auseinander. Als Anwendungsfall gilt die Schätzung des Effekts von Arbeitslosigkeit auf die Löhne bei Wiederbeschäftigung. In der Arbeit werden alle wesentlichen Identifikationsbedingungen herausgearbeitet...

Germany and the United States pursued different economic strategies to minimise the impact of the Coronavirus Crisis on the labour market. Germany focused on safeguarding existing jobs through the use of internal flexibility measures, especially short-time work (STW). The United States relied on...