Welcome to the Chair of Econometrics

Our homepage offers you information about the teaching and research activities of the Chair of Econometrics.

The research focuses on microeconometrics, labor economics and econometrics of ultra-high frequent financial data.

We offer theoretical and applied econometrics and statistics courses for Bachelor, Master and doctoral students in economics and mathematical finance.

For more details please check the links at the top.

Seminar in Macroeconomics - Job Ladder and Wealth Dynamics in General Equilibrium

Monday, 29. April 2024
12:00 - 13:15



Nawid Siassi (TU Vienna)

Job Ladder and Wealth Dynamics in General Equilibrium

(joint with L. Kaas und E. Lalé)

Abstract: This paper develops a macroeconomic model that combines an incomplete-markets overlapping-generations economy with a job ladder featuring sequential wage bargaining, endogenous search effort of employed and non-employed workers, and differences in match quality. The calibrated model offers a good fit to the empirical age profiles of search activity, job-finding rates, wages and savings, so that we use the model to examine the role of age and wealth for worker flows and for the consequences of job loss. We further analyze the impact of unemployment insurance and progressive taxation for labor market dynamics and aggregate economic activity via capital, employment and labor efficiency channels. Lower unemployment benefits or a less progressive tax schedule bring about welfare losses for a newborn worker household.