Universität Wien

390030 SE PhD-VGSE: Macroeconomics course (2017S)

Topics in open-economy macroeconomics

5.00 ECTS (2.00 SWS), SPL 39 - Doktoratsstudium Wirtschaftswissenschaften
Continuous assessment of course work
Moodle

Registration/Deregistration

Note: The time of your registration within the registration period has no effect on the allocation of places (no first come, first served).

Details

max. 24 participants
Language: English

Lecturers

Classes

Monday, 15.00 - 16.30 h, VGSE Seminarroom, 3rd floor

Information

Aims, contents and method of the course

This course is aimed at doctoral students with a special research interest in macroeconomics. Papers and models covered in this course have in common that they introduce models of firm dynamics and worker turnover that allow for interactions between the two in an environment where firms and/or workers are heterogeneous. A particular focus will lie on models that try to explain the empirically observed link between firm size and workers' wages - a phenomenon that has received much attention from theorists as well as applied economists.
Students are equipped with the tools needed to fully understand these articles, and encouraged to formulate their own research question(s). The ultimate goal is to help students take off on an independent research project.

COURSE REQUIREMENTS
Following a thorough introduction of the underlying theories of firm turnover, worker
turnover and wage-determination schemes, each student is expected to present at least one of the papers assigned from the reading list. The presentation should last for about 40 minutes, leaving time for discussion. All other students are required to have carefully read these papers in advance and to participate in the discussion. There is a final exam on the last day of class.

COURSE MATERIAL
Required readings, notes, and announcements will be made available via Moodle.

Assessment and permitted materials

The course grade will be based on in-class presentation (40%), participation during class
hours (30%), and a final exam (30%).

Minimum requirements and assessment criteria

Examination topics

Reading list

II Theories of Firm and Worker Dynamics
1a. HOPENHAYN, H. 1992. "Entry, exit and firm dynamics in long-run equilibrium,"
Econometrica 101:915-938.
1b. HOPENHAYN, H., R. ROGERSON 1993. "Job turnover and policy evaluation. A general
equilibrium analysis," Journal of Political Economy 101:915-938.
2a. BURDETT, K., K. JUDD 1983. "Equilibrium price dispersion," Econometrica 51:955-969.
2b. BURDETT, K., D. MORTENSEN 1998. "Wage differentials, employer size and
unemployment," International Economic Review 39:257-273.
3. MORTENSEN, D. 2003. Wage dispersion: Why are similar workers paid differently? MITPress: Cambridge, chs. 2 and 3.
4. MOEN, E. 1997. "Competitive search equilibrium," Journal of Political Economy 105:384-
411.
5. STOLE, L, J. ZWIEBEL 1996. "Intra-firm bargaining under nonbinding contracts," Review of Economic Studies 63:375-410.
6. GARIBALDI, P., E. MOEN 2010. "Job-to-job movements in a simple search model,"
American Economic Review, P&P 100:343-347.

III Recent Applications to Macroeconomic Questions
1. KAAS, L., P. KIRCHER 2015. "Efficient firm dynamics in a frictional labor market,"
American Economic Review 105:3030-3060.
2. CLEMENTI, G. L., B. PALAZZO 2016. "Entry, exit, firm dynamics, and aggregate
fluctuations," American Economic Journal: Macroeconomics, forthcoming.
3. SEDLÁCEK, P., V. STERK 2016. "The growth potential of start-ups over the business cycle,"working paper, University of Bonn and UCL.
4. SEDLÁCEK, P. 2015. "Lost generations of firms and aggregate labor market dynamics,"
working paper, University of Bonn.
5. MOSCARINI, G., F. POSTEL-VINAY 2012."The contribution of large and small employers
to job creation in times of high and low unemployment," American Economic Review
102:2509-2539.
6. ELSBY, M., R. MICHAELS 2013. "Marginal jobs, heterogeneous firms and unemployment
flows," American Economic Journal: Macroeconomics 5:1-48.
7. SCHAAL, E. 2015. "Uncertainty and unemployment," working paper, New York University.
8. RENDAHL, P. 2016. "Fiscal Policy in an Unemployment Crisis,"Review of Economic
Studies, forthcoming.
9. JOLIVET, G., F. POSTEL-VINAY, JEAN-MARC ROBIN 2006. "The empirical content of
the job search model: Labor mobility and wage distributions in Europe and the US," European Economic Review 50:877-907.
10. COLES, M., D. MORTENSEN 2013. "Equilibrium labor turnover, heterogeneity and
unemployment" working paper, University of Essex and Northwestern University.

Association in the course directory

Last modified: Mo 07.09.2020 15:46