underestimate wages elsewhere. We document this anchoring bias by eliciting workers' beliefs in a representative survey in Germany …Workers wrongly anchor their beliefs about outside options on their current wage. In particular, low-paid workers … model, such anchoring can give rise to monopsony and labor market segmentation. In line with the model, misperceptions are …

restrictions on employment opportunities help explain why immigrants have lower employment and wages than native citizens. To test … prioritizing residents over refugees. Consistent with an effect of outside options on wages, removing 10% of jobs reduces refugees …' hourly wages by 2.8% and increases the wage gap to similar host-country citizens in similar jobs by 2.2%. Furthermore, we …

restrictions on employment opportunities help explain why immigrants have lower employment and wages than native citizens. To test … prioritizing residents over refugees. Consistent with an effect of outside options on wages, removing 10% of jobs reduces refugees …' hourly wages by 2.8% and increases the wage gap to similar host-country citizens in similar jobs by 2.2%. Furthermore, we …

Central banks need to be concerned about wages since they are a major driver of inflation. Rising wages are needed to … expectations about inflation and future growth. Migration plays a significant role to balance wages across regions and countries …. Wage growth has been low in most developed economies because of underutilized labor if properly measured. Germany seems to …

underestimate wages elsewhere. We document this anchoring bias by eliciting workers' beliefs in a representative survey in Germany …Workers wrongly anchor their beliefs about outside options on their current wage. In particular, low-paid workers … model, such anchoring can give rise to monopsony and labor market segmentation. In line with the model, misperceptions are …

We document the sources behind the costs of job loss over the business cycle using administrative data from Germany … downturns. A large part of the long-term earnings losses and their cyclicality is driven by declines in wages. Key to these long …Unter Verwendung von administrativen Daten für Deutschland dokumentieren wir die Ursachen hinter den Kosten des …

expectations and wages, and a significantly positive relationship between optimistic bias in job finding expectations and …We measure individual bias in labor market expectations in German survey data and find that workers on average … pessimistic than West Germans. We find a significantly negative relationship between the pessimistic bias in job separation …

expectations and wages, and a significantly positive relationship between optimistic bias in job finding expectations and … income in East Germany. The bias difference in labor market expectations explains part of the East-West German wage gap. …We measure individual bias in labor market expectations in German survey data and find that workers on average …