Researcher in Economics

University of Edinburgh


Research interests

  • Labour Economics
  • Macroeconomics

daniel.schaefer@ed.ac.uk


Curriculum Vitae

You can also find me at: GitHub, IDEAS/RePEc, ORCiD, Twitter

JOB MARKET PAPER

(with Carl Singleton), January 2019, R&R at European Economic Review

Abstract: Using UK employer-employee panel data, we present novel facts on how wages and working hours respond to the business cycle within jobs. Firms reacted to the Great Recession with substantial real wage cuts and by recruiting more part-time workers. A one percentage point increase in the unemployment rate led to an average decline in real hourly wages of 2.8 percent for new hires and 2.6 percent for job stayers. Hiring hours worked were substantially procyclical, while job-stayer hours were acyclical. These results show that real wages are not rigid and that the labor costs of new hires are especially flexible.