Benjamin Schoefer

Interesting discussion with German-speaking economists about monetary policy, financial stability risks from AI, oil markets, the inflationary impact of fiscal policy, central bank communication and the ability of economies to adapt to shocks.

Nächste Woche soll das große #Reformpaket kommen – und es könnte ein Element enthalten, was viele jetzt noch gar nicht auf dem Zettel haben: Nach @handelsblatt-Infos öffnet sich die #SPD für eine Aufweichung beim #Kündigungsschutz. 🧵1/12

2. Auf Seiten der CDU wird zudem diskutiert, die Aufweichung des Kündigungsschutzes um eine „#Flexibilitätsprämie“ zu ergänzen. Diesen hatten @MarkusEconomist, @simon_jaeger & @Schoefer_B kürzlich in einem @handelsblatt-Gastbeitrag ins Spiel gebracht. 5/12

Flexibilitätsprämie: Beschäftigte sollen künftig selbst wählen können – Kündigungsschutz behalten oder gegen Kompensation flexibler arbeiten. Mehr Wahlfreiheit statt weniger Schutz. Unser Gastbeitrag mit @MarkusEconomist und @Schoefer_B heute im @handelsblatt 👇

Vorschlag mit @simon_jaeger und @Schoefer_B um Job-Matching und Arbeitsmarktresilienz zu verbessern: Jeder sollte den Arbeitsplatz haben, der für ihr/n am besten passt. Mehr Gehalt statt Kündigungsschutz handelsblatt.com/100233654.html…

🎉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.

New CEPR Discussion Paper - DP21569 Off the Labor Supply Curve: The Zero Employer Size Wage Effect Within Large Firms Andre Diegmann, Steffen Müller @IWH_Halle, Benjamin Schoefer @Schoefer_B @UCBerkeley @berkeleyecon ow.ly/E8PO50Z6ItB #CEPR_LE #CEPR_MG #CEPR_OE #EconTwitter

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_B nber.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

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…

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.

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!

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/scho…

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_B nber.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/behaviora… Deadline: Jan 31, 2026

Conflict in dismissals: Evidence from ‘separations by mutual agreement’ in France Pauline Carry @PaulineCarry @PrincetonSPIA, Benjamin Schoefer @Schoefer_B @UCBerkeley @berkeleyecon @sffed ow.ly/paSp50Xux8H

Nicola Fuchs-Schündeln & ich im Wirtschaftsdienst @Zeitschrift_WD: "Dynamik statt Stillstand: Arbeitsmarkt­institutionen als Schlüssel für Wachstum" Wie könnte "Dynamisierung" des Arbeitsmarkts Europas Wachstums förden? PDF wirtschaftsdienst.eu/pdf-download/j… Web wirtschaftsdienst.eu/inhalt/jahr/20…