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on Microeconomic European Issues |
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Issue of 2022‒11‒21
twenty papers chosen by Giuseppe Marotta Università degli Studi di Modena e Reggio Emilia |
| By: | Eve Caroli (LEDa - Laboratoire d'Economie de Dauphine - IRD - Institut de Recherche pour le Développement - Université Paris Dauphine-PSL - PSL - Université Paris sciences et lettres - CNRS - Centre National de la Recherche Scientifique, IZA - Forschungsinstitut zur Zukunft der Arbeit - Institute of Labor Economics); Catherine Pollak (DREES - Centre de Recherche du DREES - Ministère de l'Emploi et de la Solidarité, LEDa - Laboratoire d'Economie de Dauphine - IRD - Institut de Recherche pour le Développement - Université Paris Dauphine-PSL - PSL - Université Paris sciences et lettres - CNRS - Centre National de la Recherche Scientifique); Muriel Roger (CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique, LIEPP - Laboratoire interdisciplinaire d'évaluation des politiques publiques (Sciences Po) - Sciences Po - Sciences Po) |
| Abstract: | Using the differentiated increase in retirement age across cohorts introduced by the 2010 French pension reform, we estimate the health-consumption effects of a 4-month increase in retirement age. We focus on individuals who were close to retirement age but not retired yet by the time the reform was passed. Using administrative data on individual sick-leave claims and nonhospital health-care expenses, we show that the probability of having at least one sickness absence increases for all treated groups, while the duration of sick leaves remains unchanged. Delaying retirement does not increase the probability of seeing a GP, except for men in the younger cohorts. In contrast, it raises the probability of having a visit with a specialist physician for all individuals, except men in the older cohorts. Delaying retirement also increases the probability of seeing a physiotherapist among women from the older cohorts. Overall, it increases health expense claims, in particular in the lower part of the expenditure distribution. |
| Keywords: | pension reform,retirement age,health,health-care consumption |
| Date: | 2022–10 |
| URL: | http://d.repec.org/n?u=RePEc:hal:cesptp:halshs-03815505&r=eur |
| By: | Orsatti, Gianluca; Quatraro, Francesco (University of Turin) |
| Abstract: | Based on the established literature about substitution and compensation effects, this paper provides one of the first analyses of the relationship between digital technologies and employment at the regional level in Europe. We posit that idiosyncratic factors of local labor markets are likely to generate place- specific responses to the introduction of new technologies. Spatial spillovers are also likely to emerge. The geographical level of analysis is therefore the most appropriate. Our analysis confirms that there is a significant relationship between the local specialization in advanced manufacturing technologies and employment. Mainly driven by automation-related technologies, we indeed estimate negative effects of advanced manufacturing technologies on local employment creation. Conversely, digital technologies play a positive role in enhancing local labor productivity. Finally, technological performances of neighbour regions play a significant role in shaping local labor productivity, while not significantly affecting local employment creation. |
| Date: | 2020–11 |
| URL: | http://d.repec.org/n?u=RePEc:uto:labeco:202006&r=eur |
| By: | Xavier Flawinne (Université de Liège); Mathieu Lefebvre (AMSE - Aix-Marseille Sciences Economiques - EHESS - École des hautes études en sciences sociales - AMU - Aix Marseille Université - ECM - École Centrale de Marseille - CNRS - Centre National de la Recherche Scientifique); Sergio Perelman (Université de Liège); Pierre Pestieau (Université de Liège, PSE - Paris School of Economics - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris sciences et lettres - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Jérôme Schoenmaeckers (Université de Liège, CIRIEC-Belgium) |
| Abstract: | The current health crisis has particularly affected the elderly population. Nursing homes have unfortunately experienced a relatively large number of deaths. On the basis of this observation and working with European data (from SHARE), we want to check whether nursing homes were lending themselves to excess mortality even before the pandemic. Controlling for a number of important characteristics of the elderly population in and outside nursing homes, we conjecture that the difference in mortality between those two samples is to be attributed to the way nursing homes are designed and organized. Using matching methods, we observe excess mortality in Sweden, Belgium, Germany, Switzerland, Czech Republic and Estonia but not in the Netherlands, Denmark, Austria, France, Luxembourg, Italy and Spain. This raises the question of the organization and management of these nursing homes, but also of their design and financing. |
| Keywords: | mortality,nursing homes,propensity score matching,SHARE |
| Date: | 2022 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03807685&r=eur |
| By: | Bachmann, Ronald; Demir, Gökay; Green, Colin; Uhlendorff, Arne |
| Abstract: | We examine how changes in task content over time condition occupational wage development. Using survey data from Germany, we document substantial heterogeneity in within-occupational changes in task content. Combining this evidence with administrative data on individual employment outcomes over a 25-year period, we find important heterogeneity in wage penalties amongst initially routine intensive jobs. While occupations that remain (relatively) routine intensive generate substantial wage penalties, occupations with a decreasing routine intensity experience stable or even increasing wages. These findings cannot be explained by composition or cohort effects. |
| Keywords: | Technological progress,polarization,tasks,routine workers,training |
| JEL: | J31 J24 E24 |
| Date: | 2022 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:rwirep:975&r=eur |
| By: | Clara Kögel (OECD Directorate for Science, Technology and Innovation and Centre d'Economie de la Sorbonne - Université Paris 1 Panthéon-Sorbonne) |
| Abstract: | This paper investigates the effect of air pollution on labour productivity in French establishments in both manufacturing and non-financial market services sectors from 2001 to 2018. An instrumental variable approach based on planetary boundary layer height and wind speed allows identifying the causal effect of air pollution on labour productivity. The finding shows that a 10% increase in fine particulate matter leads, on average, to a 1.5% decrease in labour productivity, controlling for firm-specific characteristics and other confounding factors. The analysis also considers different dimensions of heterogeneity driving this adverse effect. The negative effect of pollution is mainly driven by service-intensive firms and sectors with a high share of highly skilled workers. This finding is in line with the expectation that air pollution affects cognitive skills, concentration, headache, and fatigue in non-routine cognitive tasks. Compared to an estimation of the marginal abatement cost of PM 2.5 reductions by the Air Quality Directive 2008/50/EC, gains only from the labour productivity channel are equivalent to one-third of the abatement cost over the implementation period. All in all, these estimates suggest that the negative impact of air pollution is much larger than previously documented in the literature |
| Keywords: | air pollution; labour productivity; planetary boundary layer height |
| JEL: | J24 O13 Q53 Q51 Q52 |
| Date: | 2022–10 |
| URL: | http://d.repec.org/n?u=RePEc:mse:cesdoc:22020&r=eur |
| By: | Pierre Cahuc (ECON - Département d'économie (Sciences Po) - Sciences Po - Sciences Po - CNRS - Centre National de la Recherche Scientifique, IZA - Forschungsinstitut zur Zukunft der Arbeit - Institute of Labor Economics, CEPR - Center for Economic Policy Research - CEPR); Pauline Carry (CREST - Centre de Recherche en Économie et Statistique - ENSAI - Ecole Nationale de la Statistique et de l'Analyse de l'Information [Bruz] - X - École polytechnique - ENSAE Paris - École Nationale de la Statistique et de l'Administration Économique - CNRS - Centre National de la Recherche Scientifique, X - École polytechnique); Franck Malherbet (CREST - Centre de Recherche en Économie et Statistique - ENSAI - Ecole Nationale de la Statistique et de l'Analyse de l'Information [Bruz] - X - École polytechnique - ENSAE Paris - École Nationale de la Statistique et de l'Administration Économique - CNRS - Centre National de la Recherche Scientifique, X - École polytechnique); Pedro S Martins (NOVA SBE - NOVA - School of Business and Economics - NOVA - Universidade Nova de Lisboa = NOVA University Lisbon) |
| Abstract: | This paper examines a labor law reform implemented in Portugal in 2009 which restricted the use of fixed-term contracts to reduce labor market segmentation. The reform targeted establishments created by large firms above a specific size threshold, covering about 15% of total employment. Drawing on linked employer-employee longitudinal data and regression discontinuity methods, we find that, while the reform was successful in reducing the number of fixed-term jobs, it did not increase the number of permanent contracts and decreased employment in large firms. However, we find evidence of positive spillovers to small firms that may bias reduced form estimates. To evaluate general equilibrium effects, we build and estimate a directed search and matching model with endogenous number of establishments and jobs. We find spillover effects that induce small biases on reduced form estimates but that significantly change the evaluation of the overall impact of the reform because they diffuse to the whole economy. We estimate that the reform slightly reduced aggregate employment and had negative effects on the welfare of employees and unemployed workers. |
| Keywords: | Directed search and matching,Labor market segmentation,Regression discontinuity |
| Date: | 2022–01–05 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpspec:hal-03812811&r=eur |
| By: | Shala, Iliriana; Schumacher, Benno |
| Abstract: | Climate change causes natural disasters to occur at higher frequency and increased severity. Using a unique dataset on German banks, this paper explores how regionally less diversified banks in Germany adjusted their loan loss provisioning following the severe summer flood of 2013, which affected widespread regions mostly in Eastern Germany. The analysis uses a difference-in-differences estimation with banks being allocated to the treatment and control group based on the region of their primary operational activities. This paper yields various results: German savings and cooperative banks located in the affected regions experienced a significantly higher, but ephemeral, impairment flow in the years following the flood. Impairments were mostly driven by corporate loans concentrated in specific sectors, such as agriculture and manufacturing, and to some extent by retail mortgage loans. While results suggest that the profitability of banks is impacted by additional factors, we do not find evidence that banks suffered from damages to their own property. The results are robust to various model specifications. |
| Keywords: | Natural disaster,climate change,credit risk,profitability,difference-in-differences |
| JEL: | C12 C21 C23 G21 Q54 |
| Date: | 2022 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:bubdps:362022&r=eur |
| By: | Cindy Biesenbeek |
| Abstract: | Using administrative data between 2006 and 2020, I analyze interregional migration in the Netherlands. In theory, individuals move out of regions with high unemployment rates, but most empirical research does not strongly support this prediction. Likewise, I only ï¬ nd a small effect of regional unemployment on interregional migration. Furthermore, I ï¬ nd that the unemployed are more mobile during the ï¬ rst three months of unemployment. In addition, my results suggest that renters in the private sector are much more mobile than homeowners or renters in the social housing sector. Finally, I ï¬ nd that commuters are much more likely to migrate, despite good infrastructure and relative short distances in The Netherlands. |
| Keywords: | Migration; Regional Labor Markets; Unemployment; Commuting; Duration; Cox; Nether-lands |
| JEL: | J61 R23 |
| Date: | 2022–10 |
| URL: | http://d.repec.org/n?u=RePEc:dnb:dnbwpp:753&r=eur |
| By: | Gustave Kenedi (ECON - Département d'économie (Sciences Po) - Sciences Po - Sciences Po - CNRS - Centre National de la Recherche Scientifique); Louis Sirugue (PSE - Paris School of Economics - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris sciences et lettres - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement) |
| Abstract: | We provide new estimates of intergenerational income mobility in France for children born in the 1970s using rich administrative data. Since parents' incomes are not observed, we employ a two-sample two-stage least squares estimation procedure. At the national level, every measure of intergenerational income persistence (intergenerational elasticities, rank-rank correlations, and transition matrices) suggests that France is characterized by relatively strong persistence relative to other developed countries. Children born to parents in the bottom 20% of their income distribution have a 10.1% probability of reaching the top 20% as adults. This probability is of 39.1% for children born to parents in the top 20%. At the local level, we find substantial spatial variations in intergenerational mobility. It is higher in the West of France and particularly low in the North and in the South. We uncover significant relationships between absolute upward mobility and characteristics of the environment an individual grew up in, such as the unemployment rate, population density, and income inequality. |
| Keywords: | Intergenerational mobility,Measurement,Spatial variations,France |
| Date: | 2021–11 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpspec:hal-03812824&r=eur |
| By: | Jean-Charles Bricongne (Centre de recherche de la Banque de France - Banque de France); Samuel Delpeuch (ECON - Département d'économie (Sciences Po) - Sciences Po - Sciences Po - CNRS - Centre National de la Recherche Scientifique); Margarita Lopez Forero (Université Paris-Saclay) |
| Abstract: | Based on French firm-level data over 15 years we evaluate the contribution of the microlevel profit-shifting-through tax haven foreign direct investments to the aggregate productivity slowdown measured in France. We show that firm measured productivity in France declines over the immediate years following the establishment in a tax haven, with an average estimated around 3.5% in labor apparent productivity. To isolate the contribution of multinationals' tax optimization to this decline of apparent productivity, we then exploit the 2006 Cadbury-Schweppes decision of the European Court of Justice limiting the extent to which member States can counter European MNEs' tax planning strategies. We find that multinational groups benefiting from that loosening of the legal constraints do exhibit lower apparent productivity in France following that ruling. Our results moreover suggest that this bias is bigger when firms rely more intensively on intangible capital. Finally, given these firms' weight in the economy, our results imply an annual loss of 9.7% in terms of the aggregate annual labor productivity growth. |
| Keywords: | Profit-shifting FDI,Productivity slowdown,Productivity mismeasurement,Intangible capital,Tax Havens |
| Date: | 2022–04–15 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpspec:hal-03811359&r=eur |
| By: | Jeanne Bomare (PSE - Paris School of Economics - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris sciences et lettres - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Ségal Le Guern Herry (ECON - Département d'économie (Sciences Po) - Sciences Po - Sciences Po - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | This paper provides evidence of the growing importance of real estate assets in offshore portfolios. We study the implementation of the first multilateral automatic exchange of information norm, the Common Reporting Standard (CRS), which introduces cross-border reporting requirements for financial assets but not for real estate assets. Exploiting administrative data on property purchases made by foreign companies in the UK, we show that the implementation of the CRS led to a significant increase of real estate investments from companies incorporated in the tax havens that were the most exposed to the policy. We confirm that this increase comes from company owners of countries committing to the new standard by identifying the residence country of a sub-sample of buyers using the Panama Papers and other leaked datasets. We estimate that between £16 and £19 billion have been invested in the UK real estate market between 2013 and 2016 in reaction to the CRS, suggesting that at the global scale between 24% and 27% of the money that fled tax havens following this policy were ultimately invested in properties. |
| Date: | 2022–06–05 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-03811306&r=eur |
| By: | Bénédicte Apouey (PSE - Paris School of Economics - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris sciences et lettres - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, PJSE - Paris Jourdan Sciences Economiques - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris sciences et lettres - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Rémi Yin (University of Luxembourg [Luxembourg]); Fabrice Etilé (PSE - Paris School of Economics - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris sciences et lettres - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, PJSE - Paris Jourdan Sciences Economiques - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris sciences et lettres - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Alan Piper (Leeds University Business School - University of Leeds); Claus Vögele (University of Luxembourg [Luxembourg]) |
| Abstract: | Using nationally representative panel data on 7,766 individuals (22,878 observations), we investigate the association between several well-being indicators (depression, anxiety, stress, and loneliness) and the general tendency to follow official recommendations regarding selfprotection against COVID-19, in France, Germany, Italy, Spain, and Sweden over the course of four data collection waves. Employing a flexible specification that allows the correlation to be non-monotonic, we find a U-shaped relationship, in which transitions to low and high levels of psychological well-being are associated with higher overall compliance, while transitions to medium levels of psychological well-being are associated with less compliance. Moreover, anxiety, stress, and loneliness levels at baseline also have a U-shaped effect on following the recommendations later (i.e., recommendations are followed best by those with lowest and highest levels of anxiety, stress, and loneliness at baseline, while following the recommendations is lowest for those with moderate levels of these variables). These U shapes are in contrast to previous studies which report monotonic relationships between various measures of mental health and compliance, or ambiguous results. Additionally, we observe a U-shaped correlation between the well-being indicators and a number of specific behaviours (including washing hands and mask wearing). Importantly, most of these specific behaviours play a role in the general tendency to follow recommendations. Finally, we uncover the role of gender composition effects in some of our results. While variations in depression and stress are negatively correlated with variations in overall compliance for males, the association is positive for females. The relation in the full sample (composed of males and females) will reflect first the negative slope for males and then the positive slope for females, explaining the U shape |
| Keywords: | Psychological well-being,Adherence,Compliance,COVID-19,Longitudinal research design,Europe |
| Date: | 2022–10 |
| URL: | http://d.repec.org/n?u=RePEc:hal:psewpa:halshs-03828081&r=eur |
| By: | Francesco Zezza; Dario Guarascio |
| Abstract: | This work analyses the regional impact of public investments focusing on three domains that are key for the Italian National Recovery and Resilience Plan (NRRP): green, digital and education/knowledge. Relying on a unique database ('Conti Pubblici Territoriali'), we perform a P-SVAR model showing that fiscal policy shocks have positive and long-lasting effects on GDP and private investments. A relevant heterogeneity is detected, though. In particular, shocks to digital spending only timidly crowd-in private investment while a stronger effect is found concerning the green sector. Second, public investments have a significant impact on regions' ‘structural upgrading’, i.e., export competitiveness and share of high-tech manufacturing. Third, confirming previous findings, shocks to public spending are found to have larger effects in centre-north regions, in terms of both GDP and private investments. Nevertheless, public spending turns out to have a stronger structural effect in the south than in the centre-north, highlighting the relevant role that the NRRP may play in reducing the Italian north-south divide |
| Keywords: | Fiscal multipliers; Panel SVAR; Italian regions; North-South divide |
| JEL: | C33 E62 H70 R58 |
| Date: | 2022–09 |
| URL: | http://d.repec.org/n?u=RePEc:sap:wpaper:wp226_0&r=eur |
| By: | Taruttis, Lisa; Weber, Christoph |
| JEL: | C21 Q40 R21 R31 |
| Date: | 2022 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:vfsc22:264056&r=eur |
| By: | Petra Gram Cavalca (Danish Ministry of Finance); Mette Ejrnæs (University of Copenhagen and CEBI, Department of Economics); Mette Gørtz (University of Copenhagen and CEBI, Department of Economics) |
| Abstract: | We investigate the short-term impact of out-of-home care on child health, schooling and juvenile crime. Using an event study to examine the dynamics around the time of placement, we document a clear deterioration of mental health and increasing crime rates before placement. After placement, we find a decrease in hospitalizations and an improvement in schooling outcomes. For a sub-sample, we use caseworkers’ risk-assessment to form a control group of children who were at risk of a placement. For the marginal child, we find little evidence of a causal effect of placement, as we also see improvements for the control group. |
| Keywords: | Child protection, health, schooling, crime, event study |
| JEL: | H75 I14 I21 I38 J12 J13 |
| Date: | 2022–11–04 |
| URL: | http://d.repec.org/n?u=RePEc:kud:kucebi:2222&r=eur |
| By: | Yannic Rehm (PSE - Paris School of Economics - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris sciences et lettres - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Lucas Chancel (PSE - Paris School of Economics - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris sciences et lettres - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, PJSE - Paris Jourdan Sciences Economiques - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris sciences et lettres - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, WIL - World Inequality Lab) |
| Abstract: | This paper estimates the distribution of annual wealth-related greenhouse gas (GHG) emissions in France and Germany, using a novel method to combine newly released air emission accounts, national accounts, and survey data on wealth. In our proposed framework, wealth holders are responsible for the emissions that occur in production processes they implicitly control. Our findings suggest that wealth-related emissions are at least as much concentrated at the very top than wealth itself, possibly even more. In addition, wealth-related emissions appear to be more even more concentrated in Germany than in France. Large emissions inequalities persist even when individuals are attributed a combination of direct and indirect GHG emissions. Wealth-related emissions of the average top 10% wealth holder exceed total emissions (including direct and indirect emissions from consumption) of the average individual in the bottom 50% in France and Germany. All emissions considered, the life of the average top 10% wealth holder appears to be 3-5 times more carbon-intensive than the average individual in the bottom 50%. Finally, we discuss the paper's findings implications for a per-ton tax on the carbon content of wealth. |
| Keywords: | Capital,Carbon tax,Emissions,Inequality,National accounts,Survey,Taxation,Wealth |
| Date: | 2022–09 |
| URL: | http://d.repec.org/n?u=RePEc:hal:psewpa:halshs-03828939&r=eur |
| By: | Johannes Koeckeis (Fraunhofer Institute for Applied Information Technology FIT; FAU Erlangen-Nuernberg) |
| Abstract: | In this paper, I present differences in income, intra-household inequality and tax planning between mixed and same-sex couples. By using unique administrative tax data, I find that household incomes of same-sex couples are significantly higher than those of heterosexual couples. While there is no difference in intra-household inequality between heterosexual couples and male same-sex couples, lesbian couples have significantly lower intra-couple income inequality. This is in line with previous research. When it comes to tax planning, there are major differences between heterosexual couples and homosexual couples. While tax planning in heterosexual couples often leads to a high marginal tax burden for the secondary earner, this is not the case for same-sex couples. |
| Keywords: | Economics of Gender, Household Income Gap, Sexual Orientation, Tax Planning |
| JEL: | D13 H24 H31 J12 J16 |
| Date: | 2022 |
| URL: | http://d.repec.org/n?u=RePEc:fme:wpaper:73&r=eur |
| By: | Lisauskaite, Elena (University of Portsmouth) |
| Abstract: | The matching efficiency of the standard matching function is known to follow a pro-cyclical pattern. An observed rightward shift in the UK's Beveridge Curve after the Great Recession, suggests a decrease in the matching efficiency between vacancies and unemployed workers. This paper studies the changes in the labour market's efficiency over the period between 2001 and 2015 in the UK, and decomposes various factors behind it, such as industrial labour market segmentation and characteristics of unemployed, using the standard aggregate matching function. Consistent with the findings for the US (Barnichon and Figura (2015), Hall and Schulhofer-Wohl (2018)), I find that the UK labour market experienced a decrease in the matching efficiency during the Great Recession. However, contrary to what Barnichon & Figura (2015) observed in the US, composition of the labour market did not account for much of this decrease, leaving labour market tightness as the main factor for the decline in efficiency in matching unemployed workers and available vacancies. Accounting for labour market segmentation and worker heterogeneity, can explain 24% of movements in the matching efficiency over the period between 2001Q3 and 2014Q3. |
| Keywords: | unemployment, mismatch, matching efficiency |
| JEL: | J6 J41 J42 |
| Date: | 2022–09 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp15610&r=eur |
| By: | Anne Duquerroy (Centre de recherche de la Banque de France - Banque de France); Clément Mazet-Sonilhac (Centre de recherche de la Banque de France - Banque de France, ECON - Département d'économie (Sciences Po) - Sciences Po - Sciences Po - CNRS - Centre National de la Recherche Scientifique); Jean-Stéphane Mésonnier (Centre de recherche de la Banque de France - Banque de France, ECON - Département d'économie (Sciences Po) - Sciences Po - Sciences Po - CNRS - Centre National de la Recherche Scientifique); Daniel Paravisini (LSE - London School of Economics and Political Science, CEPR - Center for Economic Policy Research - CEPR) |
| Abstract: | Using micro-data of the universe of bank-SME relationships in France, we show that banks specialize locally (at the branch level) by industry, and that this specialization shapes the equilibrium amount of borrowing by small firms. For identification, we exploit the reallocation of local clients from closed down branches to nearby branches of the same bank, which induced quasi-random variation in the match between a firm's industry and the industry of specialization of the lending branch. We show that branch reallocation leads, on average, to a substantial and permanent decline in small firm borrowing. This decline is twice larger for firms whose accounts are reallocated from branches less specialized in their industry than the original one. |
| Keywords: | Bank specialization,SMEs,Relationship banking,Branch closures |
| Date: | 2022–02–03 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-03812807&r=eur |
| By: | Rud, Juan Pablo (Royal Holloway, University of London); Simmons, Michael (Umeå University); Toews, Gerhard (University of Orléans); Aragon, Fernando (Simon Fraser University) |
| Abstract: | The reduction of carbon emissions will require a rapid phasing out of coal and the displacement of millions of coal miners. How much could this energy transition cost mining workers? We use the dramatic collapse of the UK coal industry to estimate the long-term impact on displaced miners. We find evidence of substantial losses: wages fell by 40% and earnings fell by 80% to 90% one year after job loss. These losses are persistent and remain significantly depressed fifteen years later, amounting to present discounted value earnings losses of between four and six times the miners pre-displacement earnings. |
| Keywords: | labor displacement, energy transition, coal mines |
| Date: | 2022–09 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp15581&r=eur |