Wage and Employment Effects of Insolvencies
Wage and employment effects of bankruptcies Although the consequences of bankruptcies for affected employees are frequently debated in the public (e.g. due to the bankruptcy of…
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Lecturers
Lecturers at CGDE Institutions Jordan Adamson Assistant Professor at Institute for Empirical Economic Research, Leipzig University. Website Course: Econometrics (winter term…
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People
People Job Market Candidates Doctoral Students PhD Representatives Alumni Supervisors Lecturers Coordinators Job Market Candidates Tommaso Bighelli Job market paper: "The…
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People
People Job Market Candidates Doctoral Students PhD Representatives Alumni Supervisors Lecturers Coordinators Job Market Candidates Tommaso Bighelli Job market paper: "The…
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Lecturers
Lecturers at CGDE Institutions Jordan Adamson Assistant Professor at Institute for Empirical Economic Research, Leipzig University. Website Course: Econometrics (winter term…
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Department Profiles
Research Profiles of the IWH Departments All doctoral students are allocated to one of the four research departments (Financial Markets – Laws, Regulations and Factor Markets –…
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Brown Bag Seminar
Brown Bag Seminar Financial Markets Department The seminar series "Brown Bag Seminar" was offered on a regular basis by members of the Financial Markets department and their…
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Seed Fund
Seed Fund Projects SEED 2022/01 Environmental Macroeconomics: Modelling Regional and Sectoral Heterogeneity IWH-Projektleiter: Gregor von Schweinitz Projektpartner: Martin Quaas…
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Long-run Competitive Spillovers of the Credit Crunch
William McShane
IWH Discussion Papers,
No. 10,
2023
Abstract
Competition in the U.S. appears to have declined. One contributing factor may have been heterogeneity in the availability of credit during the financial crisis. I examine the impact of product market peer credit constraints on long-run competitive outcomes and behavior among non-financial firms. I use measures of lender exposure to the financial crisis to create a plausibly exogenous instrument for product market credit availability. I find that credit constraints of product market peers positively predict growth in sales, market share, profitability, and markups. This is consistent with the notion that firms gained at the expense of their credit constrained peers. The relationship is robust to accounting for other sources of inter-firm spillovers, namely credit access of technology network and supply chain peers. Further, I find evidence of strategic investment, i.e. the idea that firms increase investment in response to peer credit constraints to commit to deter entry mobility. This behavior may explain why temporary heterogeneity in the availability of credit appears to have resulted in a persistent redistribution of output across firms.
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Robots and Female Employment in German Manufacturing
Liuchun Deng, Steffen Müller, Verena Plümpe, Jens Stegmaier
American Economic Association Papers and Proceedings,
May
2023
Abstract
We analyze the impact of robot adoption on female employment. Our analysis is based on novel micro data on robot use by German manufacturing establishments linked with social security records. An event study analysis for robot adoption shows increased churning among female workers. Whereas hiring rises significantly at robot adoption, separations increase with a smaller magnitude one year later. Overall, employment effects are modestly positive and strongest for medium-qualified women. We find no adverse employment effects for female workers in any of our broad qualification groups.
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