Job Market Candidates 2023/24
Ph.D. Program in Economics
Ph.D., Economics, Goethe University Frankfurt, GSEFM program, 2024 (expected)
M.Sc., Economics, Vienna University of Economics and Business, 2019
B.Sc., Economics and Social Sciences, Vienna University of Economics and Business, 2016
Fields of Specialization
Macroeconomics: Monetary Policy, Labour Economics, Environmental Economics
Macroeconomics, Monetary Economics, (applied) Econometrics
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Equalizing Monetary Policy - the Earnings Heterogeneity Channel in Action
Abstract: This paper studies the effects of conventional and unconventional monetary policy measures on the wage distribution. Using administrative labour market data from Germany, I construct quarterly inequality measures, which allow me to analyse the effects of policy rate and QE shocks over the period 1999 to 2019. The results show that wages increase across the whole wage distribution three to six quarters after expansionary policy rate or balance sheet shocks. QE affects wages at the bottom
of the distribution more than at the top leading to significant and persistent equalizing effects. Policy rate cuts also tend to decrease wage inequality, but their effect is less pronounced. These equalizing dynamics stem from the fact that low-income workers, especially young men, benefit more from finding or switching a job after a policy shock compared to high-income workers.
Environmental Regulation and Productivity Growth in the Euro Area - Testing the Porter Hypothesis
Abstract: This paper analyses the impact of changes in environmental regulations on productivity growth at country- and firm-level. We exploit several data sources and the environmental policy stringency index, to evaluate the Porter hypothesis, according to which firms’ productivity can benefit from more stringent environmental policies. We estimate the regulatory impact over a five-year horizon using panel local projections. To identify the direction of the effects, we estimate firms' CO2 emissions via a machine learning algorithm. At country- and firm-level, policy tightening affects high-polluters’ productivity negatively and stronger than their less-polluting peers. However, among high-polluting firms, large ones experience positive total factor productivity growth due to easier access to finance and greater innovativeness. Hence, we do not find support for the Porter hypothesis in general. However, for technology support policies and firms with the required resources, policy tightening can enhance productivity.
The impact of Environmental Regulation on Clean Innovation: Are There Crowding Out Effects?
Abstract: We examine the extent to which environmental regulation affects innovation and whether specific policies provide a stronger incentive to innovate relative to others. We rely on green-house gas emissions as a proxy for exposure to environmental policy. Using a local projection framework, we estimate the regulatory impact on innovation over a five-year horizon. At the country-level, policy tightening largely does not yield a statistically significant change in environment-related technology innovation. At the firm-level, however, we find that environmental policy tightening leads to higher innovation activity in technologies mitigating climate change, while we largely find no significant change with respect to innovation in other technologies. This would suggest that that environmental regulation does not lead to a crowding-out of non-clean innovations. Increasing the stringency of technology support policies and non-market based policies leads to increases in clean technology patenting while we do not find a statistically significant impact of market-based policies.
Help Wanted: Drivers and Implications of Labour Shortages
Abstract: Labour shortages have become prevalent across advanced economies. Yet, little is known about which firms are more likely to face them and the impact they have on the labour market. We create a firm-level dataset spanning 28 EU countries, 283 regions and 18 sectors, contributing to close this gap. We find that structural factors play the dominant role. Firms in regions with limited labour supply as well as innovative and fast-growing firms are particularly prone to face labour shortages. Moreover, shortages tend to aggravate at business cycle peaks. Linking labour shortages to labour market tightness and matching efficiency, in the spirit of search and matching models, we empirically determine their impact on wages and hiring. Firms with higher shortages pay a wage growth premium to keep and attract workers, increasingly so if they face excess demand. At the same time, those are the firms that hire less than the average.