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  1. How broadband Internet affects labor market matching
    Autor*in: Bhuller, Manudeep; Kostøl, Andreas R.; Vigtel, Trond C.
    Erschienen: [2019]
    Verlag:  CESifo, Center for Economic Studies & Ifo Institute, Munich, Germany

    How the internet affects job matching is not well understood due to a lack of data on job vacancies and quasi-experimental variation in internet use. This paper helps fill this gap using plausibly exogenous roll-out of broadband infrastructure in... mehr

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    How the internet affects job matching is not well understood due to a lack of data on job vacancies and quasi-experimental variation in internet use. This paper helps fill this gap using plausibly exogenous roll-out of broadband infrastructure in Norway, and comprehensive data on recruiters, vacancies and job seekers. We document that broadband expansions increased online vacancy-postings and lowered the average duration of a vacancy and the share of establishments with unfilled vacancies. These changes led to higher job-finding rates and starting wages and more stable employment relationships after an unemployment-spell. Consequently, our calculations suggest that the steady-state unemployment rate fell by as much as one-fifth.

     
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    Quelle: Verbundkataloge
    Sprache: Englisch
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    Weitere Identifier:
    hdl: 10419/215024
    Auflage/Ausgabe: This version: December 19, 2019
    Schriftenreihe: Array ; no. 8022 (December 2019)
    Umfang: 1 Online-Ressource (circa 63 Seiten), Illustrationen
  2. How broadband internet affects labor market matching
    Autor*in: Bhuller, Manudeep; Kostøl, Andreas R.; Vigtel, Trond C.
    Erschienen: January 2020
    Verlag:  IZA - Institute of Labor Economics, Bonn, Germany

    How the internet affects job matching is not well understood due to a lack of data on job vacancies and quasi-experimental variation in internet use. This paper helps fill this gap using plausibly exogenous roll-out of broadband infrastructure in... mehr

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    How the internet affects job matching is not well understood due to a lack of data on job vacancies and quasi-experimental variation in internet use. This paper helps fill this gap using plausibly exogenous roll-out of broadband infrastructure in Norway, and comprehensive data on recruiters, vacancies and job seekers. We document that broadband expansions increased online vacancy-postings and lowered the average duration of a vacancy and the share of establishments with unfilled vacancies. These changes led to higher job-finding rates and starting wages and more stable employment relationships after an unemployment-spell. Consequently, our calculations suggest that the steady-state unemployment rate fell by as much as one-fifth.

     
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    Weitere Identifier:
    hdl: 10419/215291
    Schriftenreihe: Discussion paper series / IZA ; no. 12895
    Umfang: 1 Online-Ressource (circa 63 Seiten), Illustrationen
  3. How broadband internet affects labor market matching
    Autor*in: Bhuller, Manudeep; Kostøl, Andreas R.; Vigtel, Trond C.
    Erschienen: [2020]
    Verlag:  Centre for Research and Analysis of Migration, Department of Economics, University College London, London

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    Schriftenreihe: Discussion paper series / Centre for Research and Analysis of Migration ; CDP 20, 02
    Umfang: 1 Online-Ressource (circa 62 Seiten), Illustrationen
  4. How broadband internet affects labor market matching
    Autor*in: Bhuller, Manudeep; Kostøl, Andreas R.; Vigtel, Trond C.
    Erschienen: [2019]
    Verlag:  Department of Economics, University of Oslo, Oslo, Norway

    How the internet affects job matching is not well understood due to a lack of data on job vacancies and quasi-experimental variation in internet use. This paper helps fill this gap using plausibly exogenous roll-out of broadband infrastructure in... mehr

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    How the internet affects job matching is not well understood due to a lack of data on job vacancies and quasi-experimental variation in internet use. This paper helps fill this gap using plausibly exogenous roll-out of broadband infrastructure in Norway, and comprehensive data on recruiters, vacancies and job seekers. We document that broadband expansions increased online vacancy-postings and lowered the average duration of a vacancy and the share of establishments with unfilled vacancies. These changes led to higher job-finding rates and starting wages and more stable employment relationships after an unemployment-spell. Consequently, our calculations suggest that the steady-state unemployment rate fell by as much as one-fifth.

     
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    hdl: 10419/225051
    Auflage/Ausgabe: This version: December 19, 2019
    Schriftenreihe: Memorandum / Department of Economics, University of Oslo ; no 2019, 10 (December 2019)
    Umfang: 1 Online-Ressource (circa 62 Seiten), Illustrationen
  5. How broadband internet affects labor market matching
    Autor*in: Bhuller, Manudeep; Kostøl, Andreas R.; Vigtel, Trond C.
    Erschienen: [2020]
    Verlag:  Norges Bank, Oslo

    How the internet affects job matching is not well understood due to a lack of data on job vacancies and quasi-experimental variation in internet use. This paper helps fill this gap using plausibly exogenous roll-out of broadband infrastructure in... mehr

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    How the internet affects job matching is not well understood due to a lack of data on job vacancies and quasi-experimental variation in internet use. This paper helps fill this gap using plausibly exogenous roll-out of broadband infrastructure in Norway, and comprehensive data on recruiters, vacancies and job seekers. We document that broadband expansions increased online vacancy-postings and lowered the average duration of a vacancy and the share of establishments with unfilled vacancies. These changes led to higher job-finding rates and starting wages and more stable employment relationships after an unemployment-spell. Consequently, our calculations suggest that the steady-state unemployment rate fell by as much as one-fifth.

     
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    Sprache: Englisch
    Medientyp: Ebook
    Format: Online
    ISBN: 9788283791341
    Weitere Identifier:
    hdl: 11250/2655637
    hdl: 10419/246104
    Schriftenreihe: Working paper / Norges Bank ; 2020, 1
    Umfang: 1 Online-Ressource (circa 62 Seiten), Illustrationen
  6. Work less but stay longer
    Mature worker response to a flexibility reform
    Autor*in: Hernæs, Erik; Jia, Zhiyang; Piggott, John; Vigtel, Trond C.
    Erschienen: [2020]
    Verlag:  CEPAR, ARC Centre of Excellence in Population Ageing Research, [Kensington, NSW]

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    Format: Online
    Schriftenreihe: Working paper / CEPAR, ARC Centre of Excellence in Population Ageing Research ; 2020, 22
    Schlagworte: Retirement; Pension; Flexibility
    Umfang: 1 Online-Ressource (circa 42 Seiten), Illustrationen
  7. Work less but stay longer
    mature worker response to a flexibility reform
    Autor*in: Hernæs, Erik; Jia, Zhiyang; Piggott, John; Vigtel, Trond C.
    Erschienen: August 2020
    Verlag:  Statistics Norway, Research Department, Oslo

    Reducing the eligibility age for pension benefits is considered by many as a policy that will discourage labor supply by mature workers. This paper analyzes a recent Norwegian pension reform which effectively lowered the eligibility age of retirement... mehr

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    Reducing the eligibility age for pension benefits is considered by many as a policy that will discourage labor supply by mature workers. This paper analyzes a recent Norwegian pension reform which effectively lowered the eligibility age of retirement from 67 to 62 for a group of workers. For the individuals we study, the expected present value of benefits was held constant by introducing flexible claiming and actuarially adjusting the periodic pension payment. This provides us with a unique opportunity to study the isolated impact of increased flexibility. As expected, we find that on average workers reduced their earnings and working hours. However, this initial negative effect is partially offset by an increase in labor force participation rate later at age 64 and 65. Our findings suggest that increased flexibility could potentially serve as a policy aimed at increasing the labor supply of older workers through promoting gradual exit from the labor force.

     
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    Sprache: Englisch
    Medientyp: Buch (Monographie)
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    Weitere Identifier:
    hdl: 10419/249127
    Schriftenreihe: Discussion papers / Statistics Norway, Research Department ; no. 937
    Umfang: 1 Online-Ressource (circa 44 Seiten), Illustrationen
  8. Social security pension generosity and the effect on household saving
    Autor*in: Halvorsen, Elin; Jia, Zhiyang; Kruse, Herman; Vigtel, Trond C.
    Erschienen: September 2022
    Verlag:  Statistics Norway, Research Department, Oslo

    This paper examines the substitution between pension wealth and household saving by studying Norway's 2011 pension reform. The analysis identifies the effect of reductions in social security pension generosity on household saving using cohort, time... mehr

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    This paper examines the substitution between pension wealth and household saving by studying Norway's 2011 pension reform. The analysis identifies the effect of reductions in social security pension generosity on household saving using cohort, time and sector variation in pension wealth induced by the reform. Our study focuses on saving behavior between ages 57-61 for the 1954- 1956 birth cohorts, who are the first three birth cohorts affected by a reduction in future pension wealth due to the reform. We find that they increased their saving rate around 1.2 percentage points (annually) after the reform, which corresponds to a five-year increase in household saving of about 27,000 NOK. When taking into account the remaining life-cycle changes to household saving, this corresponds to an offset effect of about 56 percent of the total loss in pension wealth.

     
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    Weitere Identifier:
    hdl: 10419/268065
    Schriftenreihe: Discussion papers / Statistics Norway, Research Department ; 989
    Schlagworte: Pension reform; household saving; difference-in-difference; quasi-natural experiment
    Umfang: 1 Online-Ressource (circa 47 Seiten), Illustrationen
  9. Identifying the elasticity of substitution between capital and labour
    a pooled GMM panel estimator
    Autor*in: Brasch, Thomas von; Raknerud, Arvid; Vigtel, Trond C.
    Erschienen: March 2022
    Verlag:  Statistics Norway, Research Department, Oslo

    Simultaneity represents a fundamental problem when estimating the elasticity of substitution between capital and labour. To overcome this problem, a wide variety of external instruments has been applied in the literature. However, the use of... mehr

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    Simultaneity represents a fundamental problem when estimating the elasticity of substitution between capital and labour. To overcome this problem, a wide variety of external instruments has been applied in the literature. However, the use of instruments may lead to wrong inference if they are either weak, or endogenous to the system being estimated. In this paper, we extend the widely used Feenstra (1994) estimator, which does not depend on external instruments, to make it applicable to the problem of estimating the elasticity of substitution between capital and labour. We propose a pooled GMM (PGMM) estimator, examine its properties in a Monte Carlo study and apply it to a Norwegian sample of manufacturing firms. We identify the conditions under which P-GMM yields unbiased estimates and compare it to a fixed effects estimator which is unbiased when factor prices are exogenous - a typical assumption in the literature. We find that the fixed effects estimator is heavily downward biased in the presence of simultaneity. In contrast, the P-GMM estimator is nearly unbiased provided the number of time periods (T) is not too small (say, more than 10). In our application, with an unbalanced sample and T = 12, we estimate the elasticity of substitution to be 1.8 using P-GMM and 1.0 using a fixed effects estimator. Hence, neglecting simultaneity may lead to the conclusion that capital and labour are complements when, in fact, they are substitutes.

     
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    Weitere Identifier:
    hdl: 10419/268052
    Schriftenreihe: Discussion papers / Statistics Norway, Research Department ; 976
    Schlagworte: Elasticity of Substitution; Simultaneity; Factor Demand; Non-Linear GMM; Pooled Estimator
    Umfang: 1 Online-Ressource (circa 32 Seiten), Illustrationen
  10. Work less but stay longer
    Autor*in: Hernæs, Erik; Jia, Zhiyang; Piggott, John; Vigtel, Trond C.
    Erschienen: [2021]
    Verlag:  CEPAR, ARC Centre of Excellence in Population Ageing Research, [Kensington, NSW]

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    Schriftenreihe: Working paper / CEPAR, ARC Centre of Excellence in Population Ageing Research ; 2021, 30
    Schlagworte: Retirement; Pension; Flexibility
    Umfang: 1 Online-Ressource (circa 50 Seiten), Illustrationen
  11. The Internet, Search Frictions and Aggregate Unemployment
    Autor*in: Bhuller, Manudeep; Ferraro, Domenico; Kostøl, Andreas R.; Vigtel, Trond C.
    Erschienen: February 2023
    Verlag:  National Bureau of Economic Research, Cambridge, Mass

    How has the internet affected search and hiring, and what are the implications for aggregate unemployment? Answering these questions empirically has proven difficult due to selection in internet use and difficulty in measuring the search activities... mehr

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    Sächsische Landesbibliothek - Staats- und Universitätsbibliothek Dresden
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    Universitätsbibliothek Freiburg
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    Helmut-Schmidt-Universität, Universität der Bundeswehr Hamburg, Universitätsbibliothek
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    Staats- und Universitätsbibliothek Hamburg Carl von Ossietzky
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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    How has the internet affected search and hiring, and what are the implications for aggregate unemployment? Answering these questions empirically has proven difficult due to selection in internet use and difficulty in measuring the search activities of both sides of the labor market. This paper overcomes these challenges by combining plausibly exogenous variation in the availability of high-speed internet in Norway with large-scale survey and administrative data on hiring firms, job seekers, and vacancies. Our empirical analysis shows that the internet expansion led more firms to recruit online and caused 9% shorter vacancy durations and 13% fewer unsuccessful hiring attempts. While the expansion increased job-finding rates by 2.4% and starting wages by 6% among the unemployed, we find no evidence of changes in job-to-job mobility or wage growth for employees. To interpret these findings, we develop and calibrate an equilibrium search model with endogenous job creation and destruction where workers decide how much search effort to exert on and off the job. Through the lens of the calibrated model, we find that better search technology is the main driving force behind our quasi-experimental evidence. Our calculations indicate that the steady-state unemployment rate fell by as much as 14% due to the broadband internet expansion

     
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    Sprache: Englisch
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    Format: Online
    Schriftenreihe: NBER working paper series ; no. w30911
    Schlagworte: Arbeitslosigkeit; Arbeitsuche; Personalbeschaffung; Internet; Suchtheorie; Norwegen; Labor Force and Employment, Size, and Structure; Other; Unemployment: Models, Duration, Incidence, and Job Search; Public Policy
    Umfang: 1 Online-Ressource, illustrations (black and white)
    Bemerkung(en):

    Hardcopy version available to institutional subscribers
  12. Fiscal policy, macroeconomic performance and industry structure in a small open economy
    Autor*in: Boug, Pål; Brasch, Thomas von; Cappelen, Ådne; Hammersland, Roger; Hungnes, Håvard; Kolsrud, Dag; Skretting, Julia; Strøm, Birger; Vigtel, Trond C.
    Erschienen: July 2022
    Verlag:  Statistics Norway, Research Department, Oslo

    We analyse how fiscal policy affects both the macroeconomy and the industry structure, using a multi-sector macroeconomic model of the Norwegian economy with an inflation targeting monetary policy. Our simulations show that the government spending... mehr

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    We analyse how fiscal policy affects both the macroeconomy and the industry structure, using a multi-sector macroeconomic model of the Norwegian economy with an inflation targeting monetary policy. Our simulations show that the government spending multiplier in the case of a permanent expansionary fiscal policy coupled with a Taylor-type interest rate rule is around 1 over a ten-year horizon. The corresponding labour tax multiplier is about 0.5. These multipliers are somewhat larger in the case of a transitory fiscal stimulus. The government spending multiplier, in the case of either a permanent or a transitory fiscal stimulus, is considerably larger than 1 when monetary policy is made accommodative by keeping the interest rate fixed. Our simulations also show that the industry structure is substantially affected by an expansionary fiscal policy, as value added in the non-traded goods sector increases at the expense of value added in the traded goods sector. The contraction of activity in the traded goods sector increases when monetary tightening accompanies the fiscal stimulus. Hence, we find that such a policy mix is likely to produce significant de-industrialisation in a small open economy with inflation targeting.

     
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    Weitere Identifier:
    hdl: 10419/268060
    Schriftenreihe: Discussion papers / Statistics Norway, Research Department ; 984
    Schlagworte: Fiscal Policy; Macroeconomy; Industry Structure; Model Simulations
    Umfang: 1 Online-Ressource (circa 47 Seiten), Illustrationen
  13. Drivkrefter bak svak etterspørsel i økonomien
    utredning for Sysselsettingsutvalget
    Autor*in: Berg, Oddmund; Brasch, Thomas von; Cappelen, Ådne; Holm, Martin Blomhoff; Raknerud, Arvid; Tretvoll, Håkon; Vigtel, Trond C.
    Erschienen: 14. september 2020
    Verlag:  Statistisk sentralbyrå, Oslo

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    Quelle: Verbundkataloge
    Sprache: Norwegisch
    Medientyp: Ebook
    Format: Online
    ISBN: 9788258711756
    Schriftenreihe: Rapporter / Statistisk sentralbyrå ; 2020, 32
    Schlagworte: Gesamtwirtschaftliche Nachfrage; Arbeitskosten; Stückkosten; Marktmacht; Norwegen
    Umfang: 1 Online-Ressource (circa 128 Seiten), Illustrationen
  14. An exact additive decomposition of the weighted arithmetic mean
    Autor*in: Brasch, Thomas von; Grini, Håkon; Johnsen, Magnus Berglund; Vigtel, Trond C.
    Erschienen: September 2021
    Verlag:  Statistics Norway, Research Department, Oslo

    The weighted arithmetic mean is used in a wide variety of applications. An infinite number of possible decompositions of the weighted mean are available, and it is therefore an open question which of the possible decompositions should be applied. In... mehr

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    The weighted arithmetic mean is used in a wide variety of applications. An infinite number of possible decompositions of the weighted mean are available, and it is therefore an open question which of the possible decompositions should be applied. In this paper, we derive a decomposition of the weighted mean that is rooted in functional analysis. Our proposed decomposition is easy to employ and interpret, and we show that it satisfies the difference counterpart to the index number time reversal test. We illustrate the framework by decomposing aggregate earnings growth from 2020Q1 to 2021Q1 in Norway and compare it with some of the main decompositions proposed in the literature. We find that the wedge between the identified compositional effects from the proposed decomposition and the Bennet decomposition is substantial, and for some industries, the compositional effects are of opposite signs.

     
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    Weitere Identifier:
    hdl: 10419/249134
    Auflage/Ausgabe: [Updated: 8 September 2021]
    Schriftenreihe: Discussion papers / Statistics Norway, Research Department ; no. 944
    Schlagworte: Weighted Arithmetic Mean; decomposition; index theory
    Umfang: 1 Online-Ressource (circa 22 Seiten)
  15. Utfordringer for lønnsdannelsen og norsk økonomi
    utredning for Frontfagsmodellutvalget
    Autor*in: Bjertnæs, Geir H. M.; Boug, Pål; Brasch, Thomas von; Bye, Brita; Cappelen, Ådne; Fæhn, Taran; Graber, Michael; Gundersen, Thomas Størdal; Hammersland, Roger; Holmøy, Erling; Hungnes, Håvard; Jasinski, Marek; Kaushal, Kevin R.; Kolsrud, Dag; Quaghebeur, Ewoud; Skretting, Julia; Stølen, Nils Martin; Tretvoll, Håkon; Vigtel, Trond C.
    Erschienen: 15. desember 2023
    Verlag:  Statistisk sentralbyrå, [Oslo]

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    Quelle: Verbundkataloge
    Sprache: Norwegisch
    Medientyp: Ebook
    Format: Online
    ISBN: 9788258718694
    Schriftenreihe: Rapporter / Statistisk sentralbyrå ; 2023, 47
    Schlagworte: Lohnbildung; Norwegen
    Umfang: 1 Online-Ressource (circa 340 Seiten), Illustrationen