Wage developments in the aftermath of the crisis

12th joint ECB/CEPR Labour Market Workshop

Tuesday, 13 and Wednesday, 14 December 2016
ECB Eurotower building, Room C2.03, Frankfurt am Main

Programme

Tuesday, 13 December 2016

* indicates the presenter

8:30
Registration and coffee
9:00

Welcome

Luc Laeven (European Central Bank and CEPR)

9:15

Keynote address
Income Inequality and Income Risk: Old Myths vs New Facts Presentation
Fatih Guvenen (University of Minnesota)

Chair: Juan F. Jimeno (Banco de España and CEPR)

10:30
Coffee break
10:45

Session I
Policies, labour market institutions and employment adjustment

The Fiscal Multiplier

Marcus Hagedorn (University of Oslo and CEPR)*
Iourii Manovskii (University of Pennsylvania and CEPR)
Kurt Mitman (IIES Stockholm University, University of Oslo and CEPR)

Discussant: Tommaso Monacelli (IGIER, Bocconi University and CEPR) Presentation


No Extension without Representation? Evidence from a Natural Experiment in Collective Bargaining
Paper, Presentation

Alexander Hijzen (OECD)*
Pedro S. Martins (Queen Mary University of London)

Discussant: Andrea Weber (Vienna University of Economics and Business and CEPR) Presentation

12:15
Lunch
13:30

Session II
Reservation wages

Unemployment Insurance and Reservation Wages
Paper, Presentation

Thomas Le Barbanchon (IGIER, Bocconi University, J-PAL and CEPR)*
Roland Rathelot (University of Warwick, J-PAL, CReAM and CEPR)
Alexandra Roulet (Harvard University)

Discussant: Patrick Arni (University of Bristol and IZA) Presentation


Reservation wages and the wage flexibility puzzle
Paper, Presentation

Felix Koenig* and Alan Manning (both London School of Economics)
Barbara Petrongolo (Queen Mary University of London and CEPR)

Discussant: Thijs van Rens (University of Warwick and CEPR) Presentation

15:00
Coffee break
13:30

Session III
Reservation wages

How do regulated and unregulated labour markets respond to shocks?
Paper

Michele Tuccio (University of Southampton)*
Sergei Guriev (European Bank for Reconstruction and Development and CEPR)
Biagio Speciale (Paris School of Economics)

Discussant: Marco Manacorda (Queen Mary University of London and CEPR) Presentation


Economic Shocks and Internal Migration
Paper, Presentation

Joan Monras (CEMFI)*

Discussant: Anna Rosso (University of Milan) Presentation

17:00
Coffee break
17:15

Evidence form the Wage Dynamics Network
Paper

Juan F. Jimeno (Banco de España and CEPR)
Mario Izquierdo (Banco de España)
Dora Kosma (Bank of Greece)
Ana Lamo (European Central Bank)
Stephen Millard (Bank of England)
Tairi Rõõm (Eesti Pank)
Eliana Viviano (Banca d’Italia)

Discussant: Julián Messina (Inter-American Development Bank) Presentation

19:30
Dinner

Wednesday, 14 December 2016

* indicates the presenter

8:30

Registration and coffee

9:00

Session IV
Explaining wages: the role of flexible pay and hours

Revisiting the Relationship Between Unemployment and Wages
Paper, Presentation

Giovanni Gallipoli*
João Alfredo Galindo da Fonseca
Yaniv Yedid-Levi (all Vancouver School of Economics, University of British Columbia)

Discussant: Axel Gottfries (University of Cambridge) Presentation


Downward Wage Rigidity in the United States: New Evidence from Worker-Firm Linked Data
Paper, Presentation

André Kurmann (Drexel University)*
Erika McEntarfer and James Spletzer (both US Census Bureau)

Discussant: Salomé Baslandze (Einaudi Institute for Economics and Finance) Presentation

10:30
Coffee break
11:00

Since you’re so rich, you must be really smart: Talent and the Finance Wage Premium
Presentation

Michael Böhm (University of Bonn)*
Daniel Metzger (Stockholm School of Economics)
Per Strömberg (Stockholm School of Economics and CEPR)

Discussant: Giovanni Pica (University of Milan) Presentation


Policy Shocks and Wage Rigidity: Empirical Evidence From Regional Effects of National Shocks
Paper, Presentation

Damjan Pfajfar (Board of Governors of the Federal Reserve System)*
Maarten de Ridder (University of Cambridge)

Discussant: Davide Furceri (International Monetary Fund) Presentation

12:30
Lunch
14:00
End of workshop

General information

Transfers

Participants are requested to arrange their own transfers, unless indicated otherwise

Workshop language

English

Session timings

30 mins presenter, 10 mins discussant, 5 mins discussion
Key note address: 60 mins presentation, 15 mins general discussion

Workshop organisers

Styliani Christodoulopoulou, European Central Bank
Ana Lamo, European Central Bank
Marco Manacorda, Queen Mary University of London and CEPR
Claudio Michelacci, Einaudi Institute for Economics and Finance and CEPR
Sebastian Weber, European Central Bank

Contact

Margareth Tai
Directorate General Economics
Country Surveillance Division

Phone: +49 69 1344 6618

Email: margareth.tai@ecb.europa.eu

Website CEPR