Christian Moser - Columbia

Abstract

We develop a theory of labor markets with four features: search frictions, worker productivity shocks, wage rigidity, and two-sided lack of commitment. Inefficient job separations occur in the form of endogenous quits and layoffs that are unilaterally initiated whenever a worker’s wage-to-productivity ration moves outside an inaction region. We derive sufficient statistics for the labor market response to aggregates shocks based on the distribution of workers’ wage-to-productivity ratios. These statistics depend on the incidence of inefficient job separations and are linked to readily available microdata on wage changes and worker flows between jobs.

Additional information:

• Speaker: Christian Moser 
• Time: Wednesday, 21.05.2025, 14:45 - 16:00
• Location: Faculty Lounge, Room 0.036
• Further links:
  • Christian Moser 's webpage¹
• Organizer: Finance Group
• Contact:
  • Almut Lunkenheimer
  • +49 228 73-9228
  • ifs@uni-bonn.de