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Contribution Details
| Type | Journal Article |
| Scope | Discipline-based scholarship |
| Title | Marginal jobs and job surplus: a test of the efficiency of separations |
| Organization Unit | |
| Authors |
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| Item Subtype | Original Work |
| Refereed | Yes |
| Status | Published in final form |
| Language |
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| Journal Title | Review of Economic Studies |
| Publisher | Oxford University Press |
| Geographical Reach | international |
| ISSN | 0034-6527 |
| Volume | 90 |
| Number | 3 |
| Page Range | 1265 - 1303 |
| Date | 2023 |
| Abstract Text | We present a test of Coasean theories of efficient separations. We study a cohort of jobs from the introduction through the repeal of a large age- and region-specific unemployment benefit extension in Austria. In the treatment group, 18.5% fewer jobs survive the program period. According to the Coasean view, the destroyed marginal jobs had low joint surplus. Hence, after the repeal, the treatment survivors should be more resilient than the ineligible control group survivors. Strikingly, the two groups instead exhibit identical post-repeal separation behaviour. We provide, and find suggestive evidence consistent with, an alternative model in which wage rigidity drives the inefficient separation dynamics. |
| Related URLs | |
| Digital Object Identifier | 10.1093/restud/rdac045 |
| Other Identification Number | merlin-id:23299 |
| PDF File |
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| Keywords | Economics and econometrics, job separations, wage rigidity, wage bargaining, unemployment benefits |
| Additional Information | Earlier published as ECON Working Paper No. 314: https://www.zora.uzh.ch/id/eprint/162794/ |