Archive: Benjamin Schoefer

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Abstract Nonemployment is often posited as a worker’s outside option in wage setting models such as bargaining and wage posting.  The value of nonemployment is therefore a key determinant of wages.  We measure the wage effect of changes in the value of nonemployment among initially employed workers.  Our quasi-experimental variation in the value of nonemployment…

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Abstract This paper examines the labor market effects of unemployment insurance extensions.  It uses administrative Social Security matched employer-employee data from Austria.  Critical components of the analysis are effects on wages as well as retirement/job separation effects. The paper found that: Older workers are very responsive to unemployment insurance benefit extensions, which in our setting…