Labour turnover is a crucial element of contemporary economic life. It can improve productivity if more productive workers replace less productive ones. However, in the short run, it generates sizeable labour adjustment costs (LACs), including productivity losses. This paper sheds new light on...

The Levy Institute Microsimulation Model (LIMM) is a tool used for policy simulations to estimate ex-ante the employment and income effects of sectoral investments. In Istenes (2023), a simple implementation of the LIMM for New York State initially had difficulty producing realistic conditional...

This study estimates and decomposes recruitment elasticity, a key measure of employer market power, across job-matching stages using data from Japan's largest job-matching intermediary. On average, recruitment elasticity is negative but not statistically significantly different from zero....

Using register data, we document that the average German labor market, defined by hires in combinations of 3-digit occupations, requirement levels, and commuting zones, is highly concentrated (HHI=0.257). By EU antitrust thresholds, 56 percent of these labor markets feature moderate or high...