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Michaillat, Pascal; Saez, Emmanuel - National Bureau of Economic Research - 2022

vacancies, u + v. Through the Beveridge curve, the number of vacancies is inversely related to the number of jobseekers. With … such symmetry, the labor market is efficient when there are as many jobseekers as vacancies (u = v), too tight when there … are more vacancies than jobseekers (v > u), and too slack when there are more jobseekers than vacancies (u > v …

Persistent link: https://www.econbiz.de/10013334429

Firms with Benefits? Nonwage Compensation and Implications for Firms and Labor Markets

Ouimet, Paige; Tate, Geoffrey - National Bureau of Economic Research - 2023

disproportionately matter for worker-firm matching and, hence, compensation inequality …

Persistent link: https://www.econbiz.de/10014322850

Sticky Wages on the Layoff Margin

Davis, Steven J.; Krolikowski, Pawel - National Bureau of Economic Research - 2023

We design and field an innovative survey of unemployment insurance (UI) recipients that yields new insights about wage stickiness on the layoff margin. Most UI recipients express a willingness to accept wage cuts of 5-10 percent to save their jobs, and one third would accept a 25 percent cut....

Persistent link: https://www.econbiz.de/10014337762

Where Have All the Workers Gone? Recalls, Retirements, and Reallocation in the COVID Recovery

Forsythe, Eliza; Kahn, Lisa B.; Lange, Fabian; Wiczer, … - National Bureau of Economic Research - 2022

At the onset of the COVID pandemic, the U.S. economy suddenly and swiftly lost 20 million jobs. Over the next two years, the economy has been on the recovery path. We assess the labor market two years into the COVID crisis. We show that early employment dynamics were almost entirely driven by...

Persistent link: https://www.econbiz.de/10013362041

Spending and Job-Finding Impacts of Expanded Unemployment Benefits : Evidence from Administrative Micro Data

Ganong, Peter; Greig, Fiona E.; Noel, Pascal J.; … - National Bureau of Economic Research - 2022

We show that the largest increase in unemployment benefits in U.S. history had large spending impacts and small job-finding impacts. This finding has three implications. First, increased benefits were important for explaining aggregate spending dynamics--but not employment dynamics--during the...

Persistent link: https://www.econbiz.de/10013361970

The Gender Pay Gap : Micro Sources and Macro Consequences

Morchio, Iacopo; Moser, Christian - National Bureau of Economic Research - 2024

-paying employers with better nonpay attributes. To interpret these facts, we develop an equilibrium search model with endogenous firm …

Persistent link: https://www.econbiz.de/10014544687

The Health Wedge and Labor Market Inequality

Finkelstein, Amy; McQuillan, Casey C.; Zidar, Owen M.; … - National Bureau of Economic Research - 2023

Over half of the U.S. population receives health insurance through an employer, with employer premium contributions creating a flat "head tax" per worker, independent of their earnings. This paper develops and calibrates a stylized model of the labor market to explore how this uniquely American...

Persistent link: https://www.econbiz.de/10014248009

Firm Sorting and Spatial Inequality

Lindenlaub, Ilse; Oh, Ryungha; Peters, Michael - National Bureau of Economic Research - 2022

We study the importance of firm sorting for spatial inequality. If productive locations are able to attract the most productive firms, then firm sorting acts as an amplifier of spatial inequality. We develop a novel model of spatial firm sorting, in which heterogeneous firms first choose a...

Persistent link: https://www.econbiz.de/10013462686

When Institutions Interact : How the Effects of Unemployment Insurance are Shaped by Retirement Policies

Gudgeon, Matthew; Guzman, Pablo; Schmieder, Johannes; … - National Bureau of Economic Research - 2023

This paper shows empirically that the non-employment effects of unemployment insurance (UI) for older workers depend in a first-order way on the structure of retirement policies. Using German data, we first present reduced-form evidence of these interactions, documenting large bunching in UI...

Persistent link: https://www.econbiz.de/10014421233

Moral Hazard and Unemployment in Competitive Equilibrium

Rey, Patrick; Stiglitz, Joseph E. - National Bureau of Economic Research - 2024

Principal-agent models take outside options, determining participation and incentive constraints, as given. We construct a general equilibrium model where workers' reservation wages and the maximum punishment acceptable before workers quit are instead determined endogenously. We simultaneously...

Persistent link: https://www.econbiz.de/10014635663

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