In 2003–05, Germany undertook extensive labor market reforms which were followed by a large and persistent decline in unemployment. Key elements of the reforms were a drastic cut in benefits for the long-term unemployed and tighter job search and acceptance obligations. Using a large confidential data set from the German social security administration, we find that the reforms were associated with a fall in the earnings of workers returning to work from short-term unemployment relative to workers in long-term employment of about 10 percent. We interpret this as evidence that the reforms strengthened incentives to return to work but, in doing so, they adversely affected post re-entry earnings.
We document a large decrease in earnings inequality in Brazil between 1996 and 2012. Using administrative linked employer-employee data, we fit high-dimensional worker and firm fixed effects models to understand the sources of this decrease. Firm effects account for 40 percent of the total decrease and worker effects for 29 percent. Changes in observable worker and firm characteristics contributed little to these trends. Instead, the decrease is primarily due to a compression of returns to these characteristics, particularly a declining firm productivity pay premium. Our results shed light on potential drivers of earnings inequality dynamics.
In 2003–05, Germany undertook extensive labor market reforms which were followed by a large and persistent decline in unemployment. Key elements of the reforms were a drastic cut in benefits for the long-term unemployed and tighter job search and acceptance obligations. Using a large confidential data set from the German social security administration, we find that the reforms were associated with a fall in the earnings of workers returning to work from short-term unemployment relative to workers in long-term employment of about 10 percent. We interpret this as evidence that the reforms strengthened incentives to return to work but, in doing so, they adversely affected post re-entry earnings.
We document a large decrease in earnings inequality in Brazil between 1996 and 2012. Using administrative linked employer-employee data, we fit high-dimensional worker and firm fixed effects models to understand the sources of this decrease. Firm effects account for 40 percent of the total decrease and worker effects for 29 percent. Changes in observable worker and firm characteristics contributed little to these trends. Instead, the decrease is primarily due to a compression of returns to these characteristics, particularly a declining firm productivity pay premium. Our results shed light on potential drivers of earnings inequality dynamics.
A #1 international bestseller, this atmospheric and breathtaking sequel to the “cerebral, immersive page-turner” (The Washington Post) The Wolf and the Watchman explores the darkness hidden beneath the splendor of 18th-century Stockholm. Stockholm, 1794: A young nobleman, Eric Three Roses, languishes in a hospital as the rest of the city claims that he belongs in a madhouse. Riddled with guilt, he writes down the memories of his lost love—his beautiful wife who died on their wedding night. The young woman’s mother also mourns her death and, desperate for justice, begs for help from the only person who will listen to her: Jean Mickel Cardell, the one-armed watchman. But she isn’t the only person seeking him out. Emil, younger brother to the brilliant lawyer and detective Cecil Winge, finds the watchman to demand his late brother’s pocket watch back. Instead, Cardell enlists Emil’s help to discover what really happened at the Three Roses estate that dreaded wedding night. The City Between the Bridges: 1794 is a suspenseful race for the truth before it’s too late from an author with a “thrilling, unnerving, clever, and beautiful” (Fredrik Backman, #1 New York Times bestselling author) voice.
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