🎉A big thank you to everyone who participated in the PhD Workshop in Labor and Behavioral Economics 2026, hosted at @CEBI_UCPH, University of Copenhagen! The workshop brought together amazing researchers for talks and discussions - and we couldn't have asked for a better crowd.
Larger employers pay more: the canonical "size wage effect."
Monopsony: To be larger, they *must* pay more<=>labor supply is finitely elastic.
Tension: *No* size wage effect w/in multi-unit firms.
=>Hiring off, not along, LS curve?
New paper w/@AndreDiegmann & Steffen Müller:
The employer size wage effect disappears completely across establishments within the same firm, even though they operate in different local labor markets, from @AndreDiegmann, Steffen Müller, and @Schoefer_Bnber.org/papers/w35265
The employer size wage effect disappears completely across establishments within the same firm, even though they operate in different local labor markets, from @AndreDiegmann, Steffen Müller, and @Schoefer_Bnber.org/papers/w35265
This was a fantastic conference structured around how labor markets function and policies for maximum employment. Many thanks to all the presenters. Thanks to @JeffHorwich for taking the time (on the weekend!) to speak to our presenters and digest all their papers!
"Almost all of the leading, serious quantitative labor economists--in one room." Solid review from our recent "Micro & Macro Foundations of Labor Markets" conf., assembled by our @Simon_Mongey & Patrick Kehoe w/ Elena Pastorino, Magne Mogstad & Erik Hurst. bit.ly/4v86Qp6
ALT A person is giving a presentation using a slide that shows a 3D graph with colorful, triangular sections labeled "Step 2: Surplus S_{x,y}" on a large screen. Several people are seated and attentively watching in the foreground.
"Almost all of the leading, serious quantitative labor economists--in one room." Solid review from our recent "Micro & Macro Foundations of Labor Markets" conf., assembled by our @Simon_Mongey & Patrick Kehoe w/ Elena Pastorino, Magne Mogstad & Erik Hurst. bit.ly/4v86Qp6
ALT A person is giving a presentation using a slide that shows a 3D graph with colorful, triangular sections labeled "Step 2: Surplus S_{x,y}" on a large screen. Several people are seated and attentively watching in the foreground.
Forthcoming in AEJ: Applied Economics: "Deadwood Labor? The Effects of Eliminating Employment Protection for Older Workers" by Emmanuel Saez, Benjamin Schoefer, and David Seim. aeaweb.org/articles?id=10.12…
To all young PhD students in econ & finance: Please make sure you apply for the #YoungEconomistPrize at our #ECBForum at Sintra. This is a once-in-a-lifetime experience where all finalists can present their work and interact with distinguished researchers and policymakers.
📣 Eager to help shape Europe’s economic future? 🇪🇺
Are you a PhD student in economics or finance? Why not share your research with us? Apply for the Young Economist Prize to join us in Sintra 🇵🇹 for the #ECBForum on Central Banking!
Apply by 2 March ➡️ link.europa.eu/WFFQJq
Another great round of discussions with German-speaking economists, today on productivity, defense, financial stability, exchange rates, geopolitical risks and the future of Europe. Thanks for joining!
New paper:
"Monopsony, Markdowns, and Minimum Wages"
w/ E. Faia & B. Lochner
First direct test of influential idea:
Employers exploit monopsony (wage setting) power to "mark down" wages<MRPL.
=>Minimum wages make firms "wage takers" & curb markdowns.
Puzzle: hard to see in data!
Examining whether measured wage markdowns reflect monopsony power by studying the minimum wage introduction in Germany, from Ester Faia, Benjamin Lochner, and @Schoefer_Bnber.org/papers/w34699
Raises question: what is the weak link? Monopsony model? Markdown measurement? Research design (theory-model link, empirical implementation),...?
Ungated PDF here:
eml.berkeley.edu/~schoefer/s…
Examining whether measured wage markdowns reflect monopsony power by studying the minimum wage introduction in Germany, from Ester Faia, Benjamin Lochner, and @Schoefer_Bnber.org/papers/w34699
📢 PhD Workshop in Labor and Behavioral Economics 2026 📢
The next edition will take place at @CEBI_UCPH , Copenhagen (June 8–9, 2026).
Keynote speakers: Ingar Haaland (NHH) & Benjamin Schoefer (UC Berkeley).
Call for Papers: sites.google.com/view/behavi…
Deadline: Jan 31, 2026
📢 Come work with us - we are hiring!
@Princeton Industrial Relations Section is hiring Senior Research Specialists!
Work directly with faculty, dive into labor economics research, and prep for grad school.
Apply 👉 irs.princeton.edu/senior-res…
Please spread the word!
@econ_ra
We are delighted to conclude the RFBerlin Conference on Worker Co-Determination and Governance with a keynote lecture on “Eurosclerosis at 40: Labor Market Institutions, Dynamism, and European Competitiveness” by @Schoefer_B.
8/10
What worries me is that Europe lagged badly in adopting information technology (ICT). As Benjamin Schoefer (2025) argued in Sintra, rigid labor markets and high failure costs discouraged firms from disruptive tech. ecb.europa.eu/pub/pdf/sintra…
We’re proud to host Benjamin Schoefer, Professor at UC Berkeley and expert in unemployment, labor market institutions, and policy reform. His work has informed labor policy in the US and Europe.