Dr. Manfred C. Hettlage, Publizist in München, geht in seinem Kommentar der Frage nach, inwieweit hohe Zuwachsraten des Bruttosozialproduktes und der Löhne der Vergangenheit angehören.

Dr. Manfred C. Hettlage, Publizist in München, geht in seinem Kommentar der Frage nach, inwieweit hohe Zuwachsraten des Bruttosozialproduktes und der Löhne der Vergangenheit angehören.

This paper provides revealed-preference estimates of the monetary value of avoiding job search in a high-unemployment labor market by examining the behavior of military servicemembers deciding between reenlisting and exiting the military. We find that servicemembers would sacrifice 1.5-2% in...

The US economy has endured an exceptionally severe recession caused by the measures put in place to contain the spread of COVID-19. This occasional paper assesses the impact of this crisis on key labour market variables, such as (un-) employment, wages and productivity, and highlights the...

Labour market reforms have been undertaken to eliminate labour market rigidities in European countries since 1970s. The important features of the reforms are the reduction in adjustment costs and the introduction of fixed-term contracts (FTC). Some empirical studies point out that employment...

Average hourly real wage series from the Labor Productivity and Costs (LPC) program and the Current Employment Statistics (CES) program have evolved very differently over the past decades. While the LPC wage has grown consistently over time and become markedly more volatile since the mid-1980s,...

The US economy has endured an exceptionally severe recession caused by the measures put in place to contain the spread of COVID-19. This occasional paper assesses the impact of this crisis on key labour market variables, such as (un-)employment, wages and productivity, and highlights the...

We study how human capital diversification, in the form of double majoring, affects the response of earnings to labor market shocks. Double majors experience substantial protection against earnings shocks, of 56%. This finding holds across different model specifications and data sets....

This paper investigates the behaviour of employers' monopsony power and workers' wages over the business cycle. Using German administrative linked employer--employee data for the years 1985--2010 and an estimation framework based on duration models, we construct a time series of the firm-level...