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Working Paper
Uncovering the Differences among Displaced Workers: Evidence from Canadian Job Separation Records
We revisit the measurement of the sources and consequences of job displacement using Canadian job separation records. To circumvent administrative data limitations, conventional approaches address selection by identifying displacement effects through mass-layoff separations, which are interpreted as involuntary. We refine this procedure and find that only a quarter of mass-layoff separations are indeed layoffs. Isolating mass-layoff separations that reflect involuntary displacement, we find twice the earnings losses relative to existing estimates. We uncover heterogeneity in losses for ...
Working Paper
Uncovering the Differences among Displaced Workers: Evidence from Canadian Job Separation Records
Using administrative data from Canada that is unique in providing information on the underlying reasons for and timing of job separations, we document that only 25 percent of mass-layoff separations, as identified through existing methods, are actual layoffs. We uncover significant differences in earnings and employer premium dynamics following layoffs and quits during mass layoffs. We also show that employers undergoing mass layoffs already experience substantial employment contractions prior to the mass layoffs, especially due to early quits. We find that employers lay off less productive ...
Discussion Paper
Assisting Firms during a Crisis: Benefits and Costs
Public and private efforts to reduce COVID-19 infection levels have led to a sharp drop in economic activity around the world. In an attempt to mitigate the damage to businesses, governments around the world have implemented a variety of financial programs to help firms. These programs have been criticized as interfering with markets, providing bailouts, and creating adverse incentives. In this article, I review both the rationale for government-provided assistance and the costs of providing that assistance from the perspective of how that aid effects the likely level and volatility of ...