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Marginal Jobs and Job Surplus: A Test of the Efficiency of Separations

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  • Simon Jäger
  • Benjamin Schoefer
  • Josef Zweimüller

Abstract

We present a test of Coasean theories of efficient separations. We study a cohort of jobs from the introduction through the repeal of a large, age- and region-specific unemployment benefit extension in Austria. In the treatment group, 18% fewer jobs survive. According to the Coasean view, the destroyed marginal jobs had low joint surplus. Hence, after the repeal, the treatment survivors should be dramatically more resilient than the ineligible control group survivors. Strikingly, the two groups instead exhibit identical post-repeal separation behavior. We provide and empirically support an alternative model in which wage rigidity drives the inefficient separation dynamics.

Suggested Citation

  • Simon Jäger & Benjamin Schoefer & Josef Zweimüller, 2019. "Marginal Jobs and Job Surplus: A Test of the Efficiency of Separations," NBER Working Papers 25492, National Bureau of Economic Research, Inc.
    • Handle: RePEc:nbr:nberwo:25492
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    10. Mosquera, Roberto, 2022. "The long-term effect of resource booms on human capital," Labour Economics, Elsevier, vol. 74(C).
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    More about this item

    JEL classification:

    • E2 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • H0 - Public Economics - - General
    • H3 - Public Economics - - Fiscal Policies and Behavior of Economic Agents
    • J0 - Labor and Demographic Economics - - General
    • J01 - Labor and Demographic Economics - - General - - - Labor Economics: General
    • J18 - Labor and Demographic Economics - - Demographic Economics - - - Public Policy
    • J23 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Demand
    • J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials
    • J63 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Turnover; Vacancies; Layoffs
    • J64 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Unemployment: Models, Duration, Incidence, and Job Search
    • J65 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Unemployment Insurance; Severance Pay; Plant Closings

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