2024 Price selection in the microdata with P. Karadi and R. Schoenle, Journal of Political Economy Macroeconomics 2.2
We use microdata to estimate the strength of price selection - a key metric for the effect of monetary policy on the real economy. We find that price adjustment pressure at the product level does not significantly influence the probability of price adjustment in response to identified monetary and credit shocks, suggesting price selection is absent. This happens even though prices do respond significantly both to aggregate shocks and product-level adjustment pressure directly. Our results are broadly consistent with second-generation state-dependent pricing models and sizable effects of monetary policy on the real economy.2024 Parental Labor Supply: Evidence from Minimum Wage Changes with A. Godoy, M. Reich and S. Allegretto, Journal of Human Resources, 59 (2)[JHR]
2023 Racial inequality in frictional labor markets: Evidence from minimum wages with M. Reich, Labour Economics 82
EALE Labour Economics Prize 2024
We show that minimum wages benefit all workers (increased earnings, employment stable), but black workers in particular. The difference cannot be explained by lower initial wages only. Rather, we find that higher minimum wages allow black workers to buy a car, which in turn strongly improves their bargaining position on the labor market. We provide counterfactual estimates of racial earnings inequality under different minimum wage policies.2023 Price setting on the two sides of the Atlantic-Evidence from supermarket scanner data with P. Karadi, J. Amann, J. Bachiller and J. Seiler, Journal of Monetary Economics 140
2021 Stata tip 142: joinby is the real merge m:m with Deni Mazrekaj, Stata Journal 21(4)
2018 Testing for serial correlation in fixed-effects panel models, Stata Journal 18(1) [SJ]
This paper illustrates the four tests for serial correlation in panel models I implemented in Stata [Q(p), LM(k) and HR(1) test by Born & Breitung 2016; IS(p) by Inoue & Solon 2006]. It discusses why serial correlation testing can be useful and compares the econometrics behind the tests to highlight their relative strengths and weaknesses. I also provide some practical guidelines on how to use the commands (e.g. syntax and examples), as well as additional Monte Carlo evidence, exploring relevant scenarios not covered by the original authors.2020 Estimating the labour market effects of the minimum wage through differences in exposure across US counties [RG, TT]
I exploit variation in average wages to estimate how vulnerable counties are to minimum wage changes. I compare high and low vulnerability counties within states and find that earnings increase more in vulnerable counties, whereas any disemployment effects are small and generally not significant.Expected return to labour lower than in other projects
The employment elasticity of the Minimum Wage - Is it just politics after all? [RG]
Employment, Turnover and Profitability Effects of the German National Minimum Wage: A Sectoral Analysis with D. Czarnitzki and H. Kreuter
External Validity in Minimum Wage Research