We provide evidence on household and market production in 36 countries since 1960. On average the household sector accounts for almost half of total hours worked. As GDP per capita increases, the employment share of household production in total hours worked initially declines and then hardly...

Aggregate productivity growth in the EU14 has slowed significantly in recent decades. Structural change toward services has contributed significantly to the growth slowdown. Future growth is projected to decline further due to the rise of sectors with stagnant productivity. Europe is projected...

In this paper, we propose a novel approach to the study of international trade that leads to a measure of country openness that is quite different from the various alternatives proposed by the received literature. In contrast to these, our measure does not use indicators of aggregate trade...

We use census data to show that structural transformation reflects a fundamental reallocation of labor from goods to services, instead of a relabelling that occurs when goods-producing firms outsource their in-house service production. The novelty of our approach is that it categorizes labor by...

Idiosyncratic labor risk is a prevalent phenomenon with important implications for individual choices. In labor market research it is commonly assumed that agents have rational expectations and therefore correctly assess the risk they face in the labor market. We analyse survey data for the U.S....

We use census data to show that structural transformation reflects a fundamental reallocation of labour from goods to services, instead of a relabelling that occurs when goods‐producing firms outsource their in‐house service production. The novelty of our approach is that it categorizes...

We propose a novel approach to the study of international trade based on a theory of country integration that embodies a broad systemic viewpoint on the relationship between trade and growth. Our model leads to an indicator of country openness that measures a country's level of integration...

We measure individual bias in labor market expectations in German survey data and find that workers on average significantly overestimate their individual probabilities to separate from their job when employed as well to find a job when unemployed. These biases vary significantly between...

Recent research documents mounting evidence for sizable and persistent biases in individual labor market expectations. This paper incorporates subjective expectations into a general equilibrium labor market model and studies the implications of biased expectations for wage bargaining, vacancy...

Anhand von Umfragedaten des Sozio-oekonomischen Panels (SOEP) analysieren wir subjektive und objektive Wahrscheinlichkeiten von Arbeitsmarktänderungen und zeigen, dass Arbeitnehmer*innen in Deutschland im Durchschnitt pessimistisch sind, innerhalb von zwei Jahren ihren Arbeitsplatz zu...