IWH Research Seminar

National Industry Trade Shocks, Local Labor Markets, and Agglomeration Spillovers

Using a broad set of national industry trade shocks, I employ a novel approach to estimate agglomeration effects by exploiting within industry variation in indirect exposure to the other local industries’ (national) trade shocks across local labor markets.

IWH Research Seminar

Is Cash Still King: Why Firms Offer Non-Wage Compensation and the Implications for Shareholder Value

Over the past 40 years, the share of non-wage benefits in employee compensation grew from 5% to 30%. Using disaggregated data from Glassdoor, we first document a series of stylized facts about the availability of non-wage benefits and how these benefits are correlated with firm characteristics.

IWH Research Seminar

A Time to Print, a Time to Reform

The public mechanical clock and the movable type printing press were two of the most important and complex general purpose technologies of the late medieval period.

IWH Research Seminar

Adjusting to Robots: Worker-Level Evidence

We estimate the effect of industrial robots on employment, wages, and the composition of jobs in German labor markets between 1994 and 2014. We find that the adoption of industrial robots had no effect on total employment in local labor markets specializing in industries with high robot usage.

IWH Research Seminar

Financial Constraints and the Propagation of Shocks in Production Networks

IWH Research Seminar

Credit Supply and Human Capital: Evidence from Bank Pension Liabilities

We identify the effects of exogenous credit constraints on firm ability to attract and retain skilled workers. To do so, we exploit a shock to the value of the pension obligations of Portuguese banks resulting from a change in accounting norms.

IWH Research Seminar

The Market for SME Bonds - The German Experiment

IWH Research Seminar

The Impact of the Opioid Crisis on Firm Value and Investment

The increasing rates of opioid abuse has had a significant impact on the United States. This paper shows that the opioid epidemic has implications for firms which must now contend with a lower pool of available and productive workers.

IWH Research Seminar

Handling Spillover Effects in Empirical Research: An Application using Credit Supply Shocks

Despite their importance, the discussion of spillover effects in empirical research misses the rigor dedicated to endogeneity concerns.

IWH Research Seminar

Access to Finance and Technological Innovation: Evidence from Antebellum America

Using a unique setting in Antebellum America, this paper provides new evidence on how access to finance impacts technological innovation.