The worrying combination of the labor market tightness and the wage inflation in the US since the pandemic raises a question on how the business closure orders affected the fragile segments of the labor force and contributed to mounting inflationary wage pressure. We develop a macroeconomic...

Research on the consequences of income inequality on subjective well-being has yielded mixed results, including a lack of a statistically significant correlation. We propose that this inconsistency may arise from the failure to differentiate between perceived and actual income inequality....

In this paper we test a new empirical relationship between wage and inflation. We introduce the concept of a cumulative wage gap, meaning the cumulative gap between the current wage and a maximum peak wage value in the past. In a crisis, people relate to their peak gains in the immediate past....

This paper examines the relationship between labour market conditions and wage dynamics by exploiting a unique dataset of 0.8 million online job vacancies. We find a weak trade-off between aggregated national-level wage inflation and unemployment. This link becomes more evident when wage...

The main contribution of this work consist on studying sales behaviour and their relationship with local market conditions like labor market indicators through a time series principal component analysis. We study the correlation structure of a large database on prices and found that all product...

Despite conventional macroeconomic theory is based on the idea that demand shocks can only have temporary effects on unemployment, several European economies display highly persistent unemployment dynamics. The theory of hysteresis challenges this view and points out that, under certain...

We are the first to examine the impact of robotization on work meaningfulness and autonomy, competence, and relatedness, which are key for motivation and human flourishing at work. Using worker-level data from 13 industries in 20 European countries and OLS and instrumental variables estimations,...

We analyse how unemployment affects individuals' social networks, leisure activities, and the related satisfaction measures. Using the LISS panel, a representative longitudinal survey of the Dutch population, we estimate the effects by inverse propensity score weighting in a...

Using survey data from 20 European countries, we construct novel worker-level indices of routine, abstract, social, and physical tasks, which we combine with industry-level robotization exposure. Our conceptual framework builds on the insight that robotization simultaneously replaces, creates,...

Having highly educated workers can be beneficial for organizations in terms of innovation and problem-solving capabilities, however when underpaid and underemployed, overeducated workers may experience feelings of frustration and stagnation as they are unable to fully utilize their skills and...