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on Labour Economics |
| By: | Amelie Schiprowski; Julia Schmidtke; Johannes Schmieder; Simon Trenkle |
| Abstract: | We combine a high-frequency survey on job search effort with administrative data on caseworker interactions from the German unemployment insurance system to estimate how the dynamics of search effort respond to caseworker meetings and vacancy referrals. Meetings alone do not increase individuals’ time on search beyond a mechanical meeting-day effect; however, we find suggestive evidence that they do when combined with a formal contract on job search obligations. Referrals lead to a modest increase in effort over the three weeks following the event. Our findings leave room for caseworkers affecting employment outcomes through other channels, e.g. by altering search effectiveness. |
| Keywords: | Unemployment insurance, caseworkers, job search |
| JEL: | J64 J65 J68 |
| Date: | 2024–01 |
| URL: | http://d.repec.org/n?u=RePEc:bon:boncrc:crctr224_2024_497&r=lab |
| By: | Yvonne Giesing |
| Abstract: | We study the effects of technological change on immigration flows as well as the labor market outcomes of migrants versus natives. We analyse and compare the effects of two different automation technologies: Industrial robots and artificial intelligence. We exploit data provided by the Industrial Federation of Robotics as well as online job vacancy data on Germany, a highly automated economy and the main destination for migrants in Europe. We apply an instrumental variable strategy and identify how robots decrease the wage of migrants across all skill groups, while neither having a significant impact on the native population nor immigration flows. In the case of AI, we determine an increase in the wage gap as well as the unemployment gap of migrant and native populations. This applies to the low-, medium- and high-skilled and is indicative of migrants facing displacement effects, while natives might benefit from productivity and complementarity effects. In addition, AI leads to a significant inflow of immigrants. Policymakers should devote special attention to the migration population when designing mitigation policies in response to technological change to avoid further increases in inequality between migrants and natives. |
| Keywords: | technological change, AI, robots, immigration |
| JEL: | F22 J15 J61 J78 O15 O33 |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:ces:ceswps:_10876&r=lab |
| By: | Josten, Cecily (London School of Economics); Lordan, Grace (London School of Economics) |
| Abstract: | This study tests whether personality traits are legitimately rewarded in the labour market or whether there are differing rewards across gender that cannot be explained with productivity. We investigate if personality traits affect the likelihood of making it to the top income quintile within an occupation differently by gender using UK Household Longitudinal data. We find that being agreeable hurts men more than women across a majority of occupations, which points at the role of gender norms for wages. Further, female legislators and senior officials who are conscientious, extraverted, neurotic and open are more likely to be among the top earners than men. Other than that, we find small gender differences in personality rewards. |
| Keywords: | personality traits, agreeableness, Big Five, labor market, earnings, gender wage gap |
| JEL: | J16 J24 J31 |
| Date: | 2024–01 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp16754&r=lab |
| By: | Haan, Peter (DIW Berlin); Wnuk, Izabela (DIW Berlin) |
| Abstract: | This paper examines the effect of increasing foreign staffing on the labor market outcomes of native workers in the German long-term care sector. Using administrative social security data covering the universe of long-term care workers and policy-induced exogenous variation, we find that increased foreign staffing reduces labor shortages but has diverging implications for the careers of native workers in the sector. While it causes a transition of those currently employed to jobs with better working conditions, higher wages, and non-manual tasks, it simultaneously diminishes re-employment prospects for the unemployed natives with LTC experience. |
| Keywords: | immigration, shift-share instrument, long-term care, EU enlargement |
| JEL: | J61 I11 |
| Date: | 2024–01 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp16749&r=lab |
| By: | David Escamilla-Guerrero; Andrea Papadia; Ariell Zimran |
| Abstract: | The effects of immigration are reasonably well understood in developed countries, but they are far more poorly understood in developing ones despite the importance of these countries as immigrant destinations. We address this shortcoming by studying the effects of immigration to Brazil during the Age of Mass Migration on its agricultural sector in 1920. This context benefits from the widely recognized value of historical perspective in studies of the effects of immigration. But unlike studies that focus on the United States to understand the effects of migration from poor to rich countries, our context is informative of developing countries' experience because Brazil in this period was unique among major migrant destinations as a low-income country with a large agricultural sector and weak institutions. Instrumenting for a municipality's immigrant share using the interaction of aggregate immigrant inflows and the expansion of Brazil's railway network, we find that a greater immigrant share in a municipality led to an increase in farm values. We show that the bulk of the effect of immigration can be explained by more intense cultivation of land, which we attribute to temporary immigrants exerting greater labor effort than natives. Finally, we find that it is unlikely that immigration's effect on agriculture slowed Brazil's structural transformation. |
| JEL: | F22 J61 N36 N56 O13 O15 Q15 |
| Date: | 2024–01 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:32083&r=lab |
| By: | Figueiredo, Ana (Erasmus School of Economics); Marie, Olivier (Erasmus University Rotterdam); Markiewicz, Agnieszka (Erasmus University Rotterdam) |
| Abstract: | We study changes in job security after displacement and exploit eligibility rules for lump-sum payments in the Netherlands to investigate the role of liquid wealth. Within five years of job loss, the likelihood of being in permanent employment remains 12% lower for displaced workers. Those eligible to a lump-sum transfer experience a significantly smaller negative shock to job security. This effect is driven by workers with low liquid wealth, pointing to liquidity constraints as an important mechanism linking unemployment and job security. Finally, we estimate that losses in job security can explain a fifth of the wage cost associated with job displacement. |
| Keywords: | job loss, liquid and illiquid wealth, job security, severance pay, The Netherlands |
| JEL: | D31 E24 J31 J63 J64 J65 |
| Date: | 2024–01 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp16744&r=lab |
| By: | Lochner, Benjamin (University of Erlangen-Nuremberg); Merkl, Christian (University of Erlangen-Nuremberg) |
| Abstract: | This paper analyzes the relationship between gender-specific application behavior, employer-side flexibility requirements, and the gender earnings gap using a unique combination of the German Job Vacancy Survey (JVS) linked to administrative employment records. We document that women have a substantially lower probability of applying to jobs with high flexibility requirements at high-wage firms than do men but have the same probability of being hired upon application. In our two-stage search model, these empirical patterns are rationalized by firms compensating workers for meeting employer-side flexibility requirements. Consistently, we empirically show that among women, mothers face the largest earnings discounts relative to men in jobs with high flexibility requirements. |
| Keywords: | job search, application behavior, gender earnings gap |
| JEL: | E24 J16 J31 |
| Date: | 2023–12 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp16686&r=lab |
| By: | Esposito, Piero (University of Cassino and Southern Lazio); Mendolia, Silvia (University of Torino); Scicchitano, Sergio (John Cabot University); Tealdi, Cristina (Heriot-Watt University, Edinburgh) |
| Abstract: | In this paper we investigate the effect of working-from home (WFH) on job satisfaction. We use longitudinal data from Italy to estimate a difference-in-differences model, in which the treatment group includes individuals who transitioned to remote work in 2020 due to the COVID-19 pandemic and continued to work from home in 2021. We perform the analysis, which extends to various aspects of self-reported job satisfaction, by gender and personality traits as per the Big-Five framework, encompassing Openness to Experience, Conscientiousness, Extraversion, Agreeableness, and Neuroticism. Our findings reveal that WFH exhibits a positive influence on job satisfaction, albeit exclusively among women, and with some heterogeneity, depending on personal characteristics. Specifically, this effect seems more noticeable in women characterized by elevated Openness to Experience, whereas those with heightened conscientiousness or neuroticism levels tend to experience less satisfaction when working remotely. |
| Keywords: | remote working, difference in differences, longitudinal analysis, gender differences, Big-Five framework |
| JEL: | J28 J81 J16 |
| Date: | 2024–01 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp16751&r=lab |
| By: | Jirjahn, Uwe (University of Trier) |
| Abstract: | This chapter reviews research on the linkages between corporate globalization and worker representation. Studies have identified various transmission channels through which the activities of foreign multinational companies (MNCs) affect host-country institutions of union and non-union representation. First, countries compete for inbound foreign direct investment (FDI) and the ability to attract FDI depends among others on a country's industrial relations system. Second, once foreign MNCs have invested in a host country, they exert an influence on the country's institutions of worker representation through how their affiliates adapt to those institutions or tend to avoid them. Third, the affiliates of foreign MNCs affect the bargaining power of host-country worker organizations. Fourth, foreign affiliates have an impact on labor conflicts and the quality of industrial relations. Altogether, the available evidence provides indications that the activities of foreign MNCs can be a challenge for worker representation within host countries. |
| Keywords: | multinational company, foreign direct investment, union avoidance, bargaining power, labor conflict, centralized bargaining, works council |
| JEL: | F23 F66 J51 J52 J53 J83 |
| Date: | 2024–01 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp16727&r=lab |
| By: | Sari Pekkala Kerr; William R. Kerr; Kendall E. Smith |
| Abstract: | We study the long-run career mobility of young immigrants, mostly refugees, from Vietnam who moved to the United States during 1989-1995. This third and final migration wave of young Vietnamese immigrants was sparked by unexpected events that culminated in the Amerasian Homecoming Act. Characteristics of the wave also minimized selection effects regarding who migrated. Small differences in the age at arrival, specifically being 14-17 years old on entry compared to 18-21, resulted in substantial differences in future economic outcomes. Using Census Bureau data, we characterize the different career profiles of young vs. older immigrants, and we quantify explanatory factors like education, language fluency, and persistence from initial employers. |
| JEL: | F22 J15 J44 J61 J71 L26 M13 M51 |
| Date: | 2024–01 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:32067&r=lab |
| By: | Lalé, Etienne (York University, Canada) |
| Abstract: | We extend Nakamura et al. (2019, 2020)'s approach of using the publicly available microdata files of the Labour Force Survey (LFS) to construct worker transition rates across employment, unemployment, and inactivity. Our approach involves estimating and applying a scaling factor that has been proposed in earlier research as a way of capturing the relative intensity of job search from inactivity compared to unemployment. This factor provides enough structure to prevent arbitrary splitting of unemployment outflows between employment and inactivity. In turn, the estimated job search factor can be used in a few simple step-by-step instructions applied to the LFS public files to assess near real-time labor market conditions in Canada. An analysis of the recent dynamics of worker flows illustrating the practicality of our approach highlights that transition rates: (a) from employment to unemployment have fallen over time (b) from unemployment to employment were unusually high during the pandemic and (c) have regional differences. |
| Keywords: | employment, unemployment, labor force participation, gross worker flows |
| JEL: | E24 J21 J63 |
| Date: | 2024–01 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp16722&r=lab |
| By: | Virtanen, Hanna; Silliman, Mikko; Kuuppelomäki, Tiina; Huttunen, Kristiina |
| Abstract: | Abstract In response to the wide-ranging consequences of falling fertility rates, governments across high-income countries are considering how to increase rates of family formation. Despite significant scientific interest, there remains limited empirical evidence on how education shapes family choices across the life cycle. We study the effect of educational attainment on family formation using regression discontinuity designs generated by centralized admissions processes to both secondary and tertiary education in Finland. At both margins, admission to further education increases the probability that women form families – i.e. have children or find a partner. For men, our point estimates are near zero for all outcomes, and sometimes negative. These results contrast a common perception that educational attainment makes it harder for women to form families and men more attractive as potential partners. The positive effects on female fertility may be attributed to education improving the compatibility of work and family. Additionally, as higher-order skills are increasingly important in the labor market, and parental inputs are important in shaping these skills, these results align with the notion that education may make women more attractive as potential spouses. |
| Keywords: | Education, Gender, Family formation, Fertility, Cohabiting, Marriage |
| JEL: | J13 I26 |
| Date: | 2024–02–06 |
| URL: | http://d.repec.org/n?u=RePEc:rif:wpaper:116&r=lab |
| By: | Monisankar Bishnu; S Chandrasekhar; Srinivasan Murali |
| Abstract: | India, on top of having a large gender gap in labour force participation, also experienced a significant decline in participation rate of women in the recent years. In order to understand, and to decompose the gender gap and the decline in female labour force participation into demand and supply side factors, we present an equilibrium joint search model of couples with gender-specific wage offers and home productivities. In this heterogeneous agents setup, our counterfactual exercises show that, gender disparities in labour demand can account for only 6.4% of the level difference, while the differential trends in labour demand can explain around 35% of the decline in female participation over time. We find that the increase in average household income driven by a large increase in male wages compared to female wages, reduced the need for women to supplement the family income, in turn causing them to drop out of the labour force. |
| Keywords: | labour force participation, gender gap, household search, home production |
| JEL: | E24 J22 J64 |
| Date: | 2024–01 |
| URL: | http://d.repec.org/n?u=RePEc:een:camaaa:2024-08&r=lab |
| By: | Gene Kindberg-Hanlon; Michael Girard |
| Abstract: | The Beveridge curve shifted substantially higher in the United States following the start of the COVID pandemic. In 2022, vacancies reached record highs across all sectors while unemployment fell to pre-pandemic lows. At the same time, the pandemic has resulted in severe labor shortages, and we estimate that the labor force was approximately 2 million below trend at the start of 2023. We exploit state-level data in the United States to find that lower immigration, higher excess mortality due to COVID, and falling older-worker labor force participation were associated with larger upward shifts in the Beveridge curve. We also find that states that had a larger employment concentration in contact-intensive sectors had larger upward shifts in their Beveridge curve. While the effect of sectoral reallocation and rehiring has been shown in theoretical models to lift the Beveridge curve, we show that worker shortages also result in an upward shift in the Beveridge curve if they increase the marginal product of labor. This result holds in a search and matching model with on-the-job search, but does not hold without on-the-job search. |
| Keywords: | Beveridge Curve; COVID |
| Date: | 2024–01–12 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfwpa:2024/008&r=lab |
| By: | Santavirta, Torsten (University of Helsinki); Stuhler, Jan (Universidad Carlos III de Madrid) |
| Abstract: | Recent studies use names - first and surnames - to estimate intergenerational mobility in sources that lack direct family links. While generating novel evidence on intergenerational transmission processes, it remains unclear how different estimators compare and how reliable they are. This paper evaluates the most popular name-based methods, using newly digitised records from Finland and U.S. Census data. We illustrate that their interpretation depends on sampling properties of the data, such as the overlap between the parent and child samples, which differ widely across studies. We correct for the attenuation bias from limited overlap and address other common problems encountered in applications. |
| Keywords: | intergenerational mobility, names, grouping estimator, split-sample IV |
| JEL: | J62 |
| Date: | 2024–01 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp16725&r=lab |
| By: | Valentina Paredes; Francisca Perez; Francisco J. Pino; Patricia Olmedo Cortes |
| Abstract: | In this paper we exploit the introduction in February 2018 of a new paid parental leave program to care for a seriously ill child in Chile (SANNA) to identify the role of both economic incentives and gender norms on families' decisions regarding market versus home production specialization. To measure the impact of economic incentives, we utilize the design of the SANNA program, which covers the beneficiary's wages up to a specific threshold, beyond which the benefit remains fixed. The efficient allocation of this benefit depends on the income levels of family members and whether their income exceeds the threshold. To investigate the role of gender norms, we compare the effect of economic incentives among older, more traditional families and younger families. Our results indicate that both gender norms and economic incentives affect parental leave allocation. We estimate that older families pay a cost of USD 1, 200 for adhering to traditional gender norms compared to younger families. |
| Date: | 2024–01 |
| URL: | http://d.repec.org/n?u=RePEc:udc:wpaper:wp554&r=lab |
| By: | Nicholas Lawson (Department of Economics, University of Quebec in Montreal) |
| Abstract: | In recent decades, there has been a lengthy debate about the fiscal costs or benefits of immigration, and much of the literature has found fiscal impacts that are close to zero. However, these studies have ignored the possibility that immigrants may be victims of wage discrimination in the labour market, despite evidence of such discrimination in various countries. In the presence of such discrimination, existing estimates of the fiscal impact of immigration will be biased: if immigrants are paid less than their marginal products, then someone else is receiving that income ? mostly likely the firm?s owners or other workers ? and paying taxes on it, and that fiscal benefit is ignored by a model that disregards discrimination. In this paper, I evaluate the quantitative importance of this mechanism, by calibrating a search-and-matching model to Canadian data and simulating the fiscal impact of increases in immigration. When the model and calibration omits wage discrimination against immigrants, the average fiscal impact of immigration is negative, but it becomes positive if discrimination explains the wage gaps between natives and immigrant workers: at an economy-wide level, an annual fiscal cost of about $3 billion in the absence of discrimination becomes a fiscal benefit of about $4 billion in the presence of discrimination. My results indicate that wage discrimination against immigrants could significantly affect our estimates of the fiscal impact of immigration. |
| Keywords: | discrimination, immigration, fiscal benefits |
| JEL: | H27 J61 J79 |
| Date: | 2024–01 |
| URL: | http://d.repec.org/n?u=RePEc:grc:wpaper:24-01&r=lab |
| By: | Mangyo, Eiji (Nagoya University); Haapanen, Mika (University of Jyväskylä); Böckerman, Petri (University of Jyväskylä) |
| Abstract: | This paper investigates the effect of a major economic recession on the educational attainment of the next generation. Our analysis is based on nationwide longitudinal registry data on Finland. We focus on the heterogenous effects of the recession on households of different socioeconomic statuses. We find that the effects of the early 1990s recession on the educational attainment of the next generation were more severe for children with nontertiary-educated parents than those with tertiary-educated parents, implying that the recession aggravated the pattern of societal inequality in Finland. Importantly, the deterioration of the home environment was the primary mechanism through which the recession adversely affected the educational attainment of the next generation. |
| Keywords: | early-life events, parental socioeconomic status, intergenerational effects, education, family dissolution, Finland |
| JEL: | I24 J12 O15 |
| Date: | 2024–01 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp16750&r=lab |
| By: | Jana Schuetz (Friedrich Schiller University Jena) |
| Abstract: | I conduct an online survey of 3, 000 respondents in the United States to examine individuals’ beliefs about the gender pension gap. By including an information provision experiment in which treated respondents are informed about the size of the gender pension gap, I examine whether receiving this information causally affects respondents’ perceptions of the fairness and drivers of the gender pension gap and their support for policies aimed at reducing it. I find that most respondents underestimate the gender pension gap and that treated respondents are less likely to perceive the gender pension gap as fair. In addition, treated respondents perceive the unequal distribution of care work and gender differences in wages as more important drivers of the gap, and their demand for remedial policies such as targeted financial education increases significantly. In terms of heterogeneity, I find that female respondents are generally less affected by the treatment than male respondents when asked about their policy views, although the treatment affects male and female respondents’ beliefs and perceptions about the gender pension gap similarly. |
| Keywords: | gender pension gap, survey experiment, information provision, pension reform preferences |
| JEL: | J26 J16 H55 C90 |
| Date: | 2024–01–31 |
| URL: | http://d.repec.org/n?u=RePEc:jrp:jrpwrp:2024-004&r=lab |
| By: | Josten, Cecily (London School of Economics); Krause, Helen (Citi, Citigroup Centre); Lordan, Grace (London School of Economics); Yeung, Brian (Citi, Citigroup Centre) |
| Abstract: | Technology is disrupting labor markets. We analyze the demand and reward for skills at occupation and state level across two time periods using job postings. First, we use principal components analysis to derive nine skills groups: 'collaborative leader', 'interpersonal & organized', 'big data', 'cloud computing', 'programming', 'machine learning', 'research', 'math' and 'analytical'. Second, we comment on changes in the price and demand for skills over time. Third, we analyze non-linear returns to all skills groups and their interactions. We find that 'collaborative leader' skills become significant over time and that legacy data skills are replaced over time by innovative ones. |
| Keywords: | skills, cognitive skills, soft skills, inclusive leadership, wages, demand for skills |
| JEL: | J10 |
| Date: | 2024–01 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp16755&r=lab |
| By: | Mikko Myrskylä (Max Planck Institute for Demographic Research, Rostock, Germany); Julia Hellstrand (Max Planck Institute for Demographic Research, Rostock, Germany); Sampo Lappo; Angelo Lorenti (Max Planck Institute for Demographic Research, Rostock, Germany); Jessica Nisén (Max Planck Institute for Demographic Research, Rostock, Germany); Ziwei Rao; Heikki Tikanmäki |
| Abstract: | Future fertility is a key input when charting the sustainability of social security systems, and declining fertility is often expected to put pressure on economic indicators such as pension burden. Such expectations are based on a narrow view of the impact of fertility on the economy, focusing on age structure. Dynamic impacts – for instance, the potential for increased human capital of smaller cohorts – are mostly ignored. We use a dynamic longitudinal microsimulation model to explore to what extent investments in human capital could offset the adverse economic impact of low fertility. We implement our model in the Finnish context, which is a particularly interesting case as Finland is the fastest-ageing European country and experienced dramatic fertility declines and stagnant education levels in the 2020s. We find that an ambitious but simple human capital investment strategy that keeps the total investment constant despite declining cohort size, thereby increasing per-capita investment, can offset the negative impact of a smaller labor force on pension burden. Human capital investment not only reduces pension burden, but also increases working years, pension income, retirement years, and longevity. Policies focusing on human capital investment are likely to be a viable strategy to maintain economic sustainability. Keywords: low fertility, human capital investment, economic sustainability, Finland, dynamic longitudinal microsimulation model |
| JEL: | J1 Z0 |
| Date: | 2024 |
| URL: | http://d.repec.org/n?u=RePEc:dem:wpaper:wp-2024-002&r=lab |
| By: | Lee Crawfurd (Center for Global Development); Christelle Saintis-Miller (Center for Global Development); Rory Todd (Center for Global Development) |
| Abstract: | Textbooks play a critical role in schooling around the world. Small sample studies show that many books continue to under-represent women and girls, and to portray men and women in stereotypical gendered roles. In this paper, we use quantitative text analysis to assess the degree of gender bias in a newly assembled corpus of 1, 255 English language school textbooks from 34 countries that are publicly available online. We find consistent patterns of under-representation of female characters and portrayal of stereotypical gendered roles. Women and girls occur less frequently, are portrayed as more passive, are less likely to be associated with work or achievement, and are more likely to be associated with the home and traditionally female occupations. Comparing across countries, female representation in books is correlated with higher GDP and more legal rights for women. |
| Keywords: | Gender, Education, Textbooks |
| JEL: | J16 |
| Date: | 2024–02–05 |
| URL: | http://d.repec.org/n?u=RePEc:cgd:wpaper:678&r=lab |
| By: | Shishir Shakya; Tulasiram Nepal; Edward Timmons |
| Abstract: | The Maintenance of Certification (MOC) program of the American Board of Medical Specialties (ABMS) requires physicians to pass the MOC exam every ten years to maintain board certification. Proponents argue that MOC enhances patient care and physician competencies. Critics perceive it as an expensive, burdensome, and time-consuming recertification process that may lead to the departure of elderly physicians from the workforce. Notably, some states are adopting Anti-MOC laws. Our analysis, employing a generalized difference-in-difference method and event-study frameworks, demonstrates a statistically significant 3.5-6% increase in actively practicing physicians aged 60 and above in states implementing Anti-MOC laws, with no impact on physicians aged below 60. Our findings have implications for healthcare, offering the potential to improve access to quality care and tackle physician shortages in the United States. Key Words: Scope of Practice, anti-Maintenance of certification, physicians |
| JEL: | J01 J08 J21 J44 J7 K30 |
| Date: | 2024 |
| URL: | http://d.repec.org/n?u=RePEc:apl:wpaper:24-02&r=lab |
| By: | Bassanini, Andrea (OECD); Caroli, Eve (PSL Université Paris Dauphine); Geay, Kevin (Université Paris 1 Panthéon-Sorbonne); Rebérioux, Antoine (Université de Paris) |
| Abstract: | We develop a theory of non-monetary costs incurred by CEOs when deciding about layoffs and test its predictions on French data. Our results support the idea that, being embedded in their social environment, CEOs find it more difficult to fire employees closer to their own workplace. This effect is stronger whenever social interactions are less anonymous in the CEOs' local environment. It is weaker when CEOs live further away from where they work, because of limited exposure to local discontent. |
| Keywords: | layoffs, non-monetary costs, CEO, social embeddedness |
| JEL: | J63 M12 M51 R12 |
| Date: | 2024–01 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp16748&r=lab |