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S.C. Tsiang Macroeconomics Workshop: Gregor Jarosch

Thursday, April 8, 2021 at 11:15am to 12:45pm

Virtual Event

Gregor Jarosch, Princeton University

Granular Search, Market Structure, and Wages (joint w/Jan Sebastian Nimczik, and Isaac Sorkin)

AbstractWe develop a model where labor market structure affects the division of surplus between firms and workers. Using Austrian data we show that in more concentrated labor markets, workers are more likely to return to past employers. In our model, the possibility of these re- encounters endows firms with size-based market power since outside options are truly outside the firm: firms do not compete with their own vacancies. Hence, a worker’s outside option is worse when bargaining with a larger firm, and wages depend on market structure. The quantified model suggests that such size-based market power could substantially reduce wages.

Dial-In Information

If you are interested participating in this seminar, please email Ulrike Kroeller at uab1@cornell.edu for Zoom information.

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Event Type

Seminar, Class/ Workshop

Departments

Economics

Tags

economics, EconSeminar, EconMacro

Contact E-Mail

uab1@cornell.edu

Contact Name

Ulrike Kroeller

Speaker

Gregor Jarosch

Speaker Affiliation

Princeton University

Open To

Cornell Economics Community - List Serve Members