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207 records from EconBiz based on author Name
1. Why firms lay off workers instead of cutting wages : evidence from linked survey-administrative data
Bertheau, Antoine; Kudlyak, Marianna; Larsen, Birthe; Bennedsen, Morten;2025
Type: Graue Literatur; Non-commercial literature; Arbeitspapier; Working Paper;
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Link 2. Why firms lay off workers instead of cutting wages : evidence from linked survey-administrative data
abstractWe use a novel large-scale survey of firms, implemented in Denmark in 2021 and linked to administrative data, to study why firms lay off workers instead of cutting wages. Our questions on layoffs, wage cuts, and the link between them provide new insights into firms' strategies for adjusting labor in response to adverse shocks. We find that layoffs are more prevalent than wage cuts, but wage cuts are not rare in firms experiencing revenue reduction and were used by 15% of such firms. Employers are hesitant to cut wages in many instances because they see wage cuts as a poor substitute for layoffs. First, firms report that lowering wages triggers costs through the impact on morale and quits. Comparing these costs with potential savings from wage cuts, most employers in the survey agree that a wage reduction would not have saved jobs. Second, firms report that a crisis is an opportune time for layoffs because of lower opportunity costs of restructuring and because layoffs during a crisis are perceived by workers as more fair. We find that firms that report such opportunistic layoffs are less likely to implement wage cuts.
Bertheau, Antoine; Kudlyak, Marianna; Larsen, Birthe; Bennedsen, Morten;2025
Type: Graue Literatur; Non-commercial literature; Arbeitspapier; Working Paper;
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Link 3. How cyclical is the user cost of labor?
abstractIn employment relationships, a wage is an installment payment on an implicit long-term agreement between a worker and a firm. The price of labor that impacts firm's hiring decisions, instead, reflects the hiring wage as well as the impact of economic conditions at the time of hiring on future wages. Measured by the labor's user cost, the price of labor is substantially more pro-cyclical than the new-hire wage or the average wage. The strong procyclicality of the price of labor calls for other forces for cyclical labor demand to explain employment fluctuations.
Kudlyak, Marianna;2024
Type: Graue Literatur; Non-commercial literature; Arbeitspapier; Working Paper;
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Link Link 4. House price responses to monetary policy surprises : evidence from US listings data
Gorea, Denis; Kryvtsov, Oleksiy; Kudlyak, Marianna;2024
Type: Graue Literatur; Non-commercial literature; Arbeitspapier; Working Paper;
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Link Link Link 5. Pandemic layoffs and the role of stay-at-home orders
Kudlyak, Marianna; Wolcott, Erin L.;2024
Type: Aufsatz in Zeitschrift; Article in journal;
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Link 6. Consumer and firm perceptions of the aggregate labor market conditions
Kudlyak, Marianna; Miskanic, Brandon;2024
Type: Graue Literatur; Non-commercial literature; Arbeitspapier; Working Paper;
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Link 7. Pandemic layoffs and the role of stay-at-home orders
Kudlyak, Marianna; Wolcott, Erin L.;2024
Type: Graue Literatur; Non-commercial literature; Arbeitspapier; Working Paper;
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Link 8. Pandemic layoffs and the role of stay-at-home orders
abstractWe compile a novel high-frequency, detailed geographic dataset on mass layoffs from U.S. state labor departments. Using recent advances in difference-in-difference estimation with staggered treatment, we find that locally-mandated stay-at-home orders issued March 16–22, 2020 triggered mass layoffs equal to half a percent of the population in just one week. Our findings contribute to explanations for why job loss in 2020 was catastrophic, yet temporary.
Kudlyak, Marianna; Wolcott, Erin L.;2024
Type: Graue Literatur; Non-commercial literature; Arbeitspapier; Working Paper;
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Link Link 9. How cyclical Is the user cost of labor?
Kudlyak, Marianna;2024
Type: Graue Literatur; Non-commercial literature; Arbeitspapier; Working Paper;
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Link 10. The active role of the natural rate of unemployment during cyclical recoveries
Hall, Robert E.; Kudlyak, Marianna;2023
Type: Graue Literatur; Non-commercial literature; Arbeitspapier; Working Paper;
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