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  1. What do firm managers tell us about the transmission channels of oil price shocks?
    Autor*in: Drechsel, Dirk; Mikosch, Heiner; Sarferaz, Samad; Bannert, Matthias
    Erschienen: 2022-11-28
    Verlag:  KOF, Zurich, Switzerland

    In this paper, we investigate the transmission channels of oil price shocks using a factorial survey. We confront CEOs and CFOs of a representative sample of firms with a hypothetical vignette in which the oil price rises exogenously above managers'... mehr

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DS 297
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    In this paper, we investigate the transmission channels of oil price shocks using a factorial survey. We confront CEOs and CFOs of a representative sample of firms with a hypothetical vignette in which the oil price rises exogenously above managers' baseline expectations. The managers then estimate the short- and medium-term cost, price, and output effects of the shock on their firms. We find that the managers expect the shock to have very different effects on their firms: the cross-sectional distributions of the responses are large, skewed, and have fat tails. Higher firm-specific energy input costs lead managers to expect greater output losses and sales price increases. Higher market power accelerates this input cost effect. Another important determinant is managers' pre-shock uncertainty about business prospects. The importance of the three channels varies considerably across industries.

     
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 20.500.11850/584846
    hdl: 10419/278237
    Schriftenreihe: KOF working papers ; no. 507 (November 2022)
    Schlagworte: Oil price shocks; transmission channels; firms; expectations; surveys; vignettes
    Umfang: 1 Online-Ressource (circa 59 Seiten), Illustrationen
  2. A poisoned gift?
    the hireability signals of an income-support program for the senior unemployed
    Autor*in: Dalle, Axana; Sterkens, Philippe; Baert, Stijn
    Erschienen: April 2023
    Verlag:  IZA - Institute of Labor Economics, Bonn, Germany

    Many OECD countries invest heavily in labour-market programs to prolong careers. Although active labour-market programs designed for this purpose have frequently been evaluated, less is known about the employment impact of more passive regimes that... mehr

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    Many OECD countries invest heavily in labour-market programs to prolong careers. Although active labour-market programs designed for this purpose have frequently been evaluated, less is known about the employment impact of more passive regimes that make labour-market participation later in life feasible. This study focuses on the latter by investigating the hiring opportunities of senior job candidates who partake in a system that ensures older labour-market participants a company supplement in addition to unemployment benefits when they are dismissed. Therefore, we conduct a state-of-the-art scenario experiment in which 360 genuine recruiters evaluate fictitious job candidates who have spent varying durations unemployed in regimes with and without the company supplement. Because they evaluate candidates with respect to both hireability and productivity perceptions, we can identify the mechanisms at play. Overall, we find no evidence of employer-side stigma hindering the re-employment of older unemployed in the program. On the contrary, the longer-term unemployed even benefit - in terms of hiring chances - from partaking in this regime because it seemingly mitigates the regular stigmatisation of long-term unemployment, especially for men. More concretely, recruiters judge the long-term unemployed more mildly, especially with respect to perceived flexibility, when they receive the company supplement and still apply.

     
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    Sprache: Englisch
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    Weitere Identifier:
    hdl: 10419/272684
    Schriftenreihe: Discussion paper series / IZA ; no. 16057
    Schlagworte: hiring discrimination; signalling effect; income support; labour market program; vignettes
    Umfang: 1 Online-Ressource (circa 71 Seiten)
  3. Fairness of the first-come, first-served rule on the rental housing market
    answers from a hypothetical survey experiment
    Autor*in: Bunel, Mathieu; Tovar, Élisabeth
    Erschienen: [2023]
    Verlag:  EconomiX - UMR 7235, Université Paris Nanterre, Nanterre

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    Schriftenreihe: Working paper / EconomiX ; 2023, 31
    Schlagworte: discrimination; fairness; first-come first-served rule; hypothetical survey experiment; rental housing market; vignettes
    Umfang: 1 Online-Ressource (circa 33 Seiten), Illustrationen
  4. The subsidy trap
    explaining the unsatisfactory effectiveness of hiring subsidies for the senior unemployed
    Autor*in: Dalle, Axana; Verhofstadt, Elsy; Baert, Stijn
    Erschienen: February 2024
    Verlag:  IZA - Institute of Labor Economics, Bonn, Germany

    To extend the labour market participation of seniors, numerous countries provide subsidies to incentivise their recruitment or employment. Prior research demonstrates that the effectiveness of such subsidies is rather unsatisfactory, although the... mehr

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    To extend the labour market participation of seniors, numerous countries provide subsidies to incentivise their recruitment or employment. Prior research demonstrates that the effectiveness of such subsidies is rather unsatisfactory, although the reasons for this inadequacy remain unclear. Therefore, we examined negative employer perceptions triggered by eligibility for such subsidies that might explain this disappointing effectiveness. To this end, we set up a vignette experiment in which 292 genuine recruiters assessed fictitious candidates on their hireability and underlying productivity estimations. These candidates differed experimentally in their eligibility for a hiring subsidy targeted at the unemployed aged 58 or over. Our results indicate that the subsidy has a negative effect on their hiring outcomes. This adverse effect is explained by negative perceptions that counteract the financial incentive. Specifically, the subsidised candidates signal lower physical and technological skills along with an augmented difficulty in hiring and labour inspection.

     
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    Schriftenreihe: Discussion paper series / IZA ; no. 16804
    Schlagworte: hiring discrimination; senior workers; labour market programmes; hiring subsidy; signalling effect; vignettes
    Umfang: 1 Online-Ressource (circa 37 Seiten), Illustrationen