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Institute of Economics

Institute of Economics. 520 G. Labour Economics Prof. Dr. Thomas Beißinger. . Team. Prof. Dr. Thomas Beißinger C hair of Labour and Service Economics Lectures in: Labour Economics 1: Topics in Advanced Labour Economics Labour Economics 2: Labour Markets and the Macroeconomy

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Institute of Economics

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  1. Institute of Economics 520 G

  2. Labour Economics Prof. Dr. Thomas Beißinger 

  3. Team • Prof.Dr. Thomas Beißinger • Chair of Labour and Service Economics • Lectures in: • Labour Economics 1: Topics in Advanced Labour Economics • Labour Economics 2: Labour Markets and the Macroeconomy • Supervision of seminar papers and master theses • MartynaMarczak • Research assistant • Tutorials in: • Labour Economics 1: Topics in Advanced Labour Economics • Labour Economics 2: Labour Markets and the Macroeconomy • Supervision of seminar papers and master theses TEAM  OBJECTIVES  LABOUR ECONOMICS 1 LABOUR ECONOMICS 2  SEMINAR 

  4. Objectives of the module • An application of microeconomics, macroeconomics and econometrics to labour market issues • The module creates a strong link to the recent research in the field of labour economics • Students acquire the ability to understand and interpret labour market models and empirical approaches in labour economics. • The curriculum combines the analysis of theoretical concepts with the possibility of an empirical application in the seminar papers or master theses • „Labour Economics“ is an ideal complement to such courses as: „Money and Employment“, „International Trade“, „Public Finance“ and „Econometrics“ TEAM  OBJECTIVES  LABOUR ECONOMICS 1 LABOUR ECONOMICS 2  SEMINAR 

  5. Labour Economics 1: Topics in Advanced Labour Economics • The Theory of Labour Supply • The basic model: budget constraint; preferences; analysis of the labour supply decision; labour market participation; reservation wage; supplied working hours • Effect of unemployment insurance, taxes or wage subsidies on labour supply • Extensions: household production, family models and intertemporal labour supply • The Econometrics of Labour Supply • Ingredients of a labour supply equation • Guide to estimating labour supply • Measurement problems • Nonlinear budget constraints • Natural experiments TEAM  OBJECTIVES  LABOUR ECONOMICS 1  LABOUR ECONOMICS 2  SEMINAR 

  6. Labour Economics 1: Topics in Advanced Labour Economics (cont´d) • Job Search • Basic job search theory: search process and reservation wage; comparative statics of the • basic model; choice among nonparticipation, job-seeking and employment • Extensions: eligibility and unemployment; on-the-job-search; endogeneous search effort • The equilibrium search model and the theory of optimal unemployment insurance • Empirical aspects of job search: hazard function; measuring unemployment insurance benefits; • the determinants of unemployment duration • Literature: Cahuc, P., and Zylberberg, A. (2004), Labor Economics, MIT Press, Chapters 1 and 3 • Type of examination: written exam • Points: 6 EP TEAM  OBJECTIVES  LABOUR ECONOMICS 1  LABOUR ECONOMICS 2  SEMINAR 

  7. Labour Economics 2: Labour Markets and the Macroeconomy • Job Reallocations and Unemployment • Empirical evidence on job flows and worker flows • The matching model: the matching function; the Beveridge curve; behaviour of firms; behaviour of workers; labour market equilibrium; out-of-stationary-state dynamics • Labour Unions • Utility function and behaviour of labour unions • General equilibrium: explanation of unemployment • Extensions: Nash bargaining; the impact of taxes on collective bargaining • Degree of centralization of wage bargaining: the Calmfors-Driffill hypothesis • Insiders and Outsiders: insiders and the persistence of unemployment; labour market segmentation • Empirical evidence regarding the consequences of collective bargaining TEAM  OBJECTIVES  LABOUR ECONOMICS 1 LABOUR ECONOMICS 2  SEMINAR 

  8. Labour Economics 2: Labour Markets and the Macroeconomy (cont´d) • Efficiency Wages • Partial equilibrium: a simple model • The causes of efficiency wages • Empirical evidence • Efficiency wages in a macroeconomic framework: explanation of involuntary unemployment • Literature: • Cahuc P., and Zylberberg A. (2004), ), Labor Economics, MIT Press, Chapter 9; some parts of Chapter 7 • Sorensen P. B., and Whitta-Jacobsen, H. (2005), Introducing Advanced Macroeconomics, • Chapters 12 and 13 • Type of examination: written exam • Points: 6 EP TEAM  OBJECTIVES  LABOUR ECONOMICS 1  LABOUR ECONOMICS 2  SEMINAR 

  9. Seminar • Examples of topics in previous seminars and master theses: • Adverse selection and the labour market • Efficiency wages and dual labour markets • The relationship between inequality and economic growth • Optimal contracting and CEO compensation • The labour market consequences of immigration: theory and empirical evidence for Germany • Health, health insurance and the labour market • The economic analysis of labour market discrimination • Participants are also encouraged to make their own suggestions on the preferred topic, upon consultation with the supervisor • Schedule: presentations take place as a block seminar • Points: 6 EP TEAM  OBJECTIVES  LABOUR ECONOMICS 1  LABOUR ECONOMICS 2  SEMINAR 

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