Nittai Bergman
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View article: The Distributional Impact of Sectoral Supply and Demand Shifts: A Unified Framework
The Distributional Impact of Sectoral Supply and Demand Shifts: A Unified Framework Open
Economies routinely experience a variety of sector-specific supply and demand shifts.Yet, the distributional welfare consequences of these shifts are not well understood.We address this gap by developing an analytical framework that jointl…
View article: Correlations of mobility and Covid-19 transmission in global data
Correlations of mobility and Covid-19 transmission in global data Open
Assessing the contribution of mobility declines to the control of Covid-19 diffusion is an urgent challenge of global import. We analyze the temporal correlation between transmission rates and societal mobility levels using daily mobility …
View article: Inclusive Monetary Policy: How Tight Labor Markets Facilitate Broad-Based Employment Growth
Inclusive Monetary Policy: How Tight Labor Markets Facilitate Broad-Based Employment Growth Open
This paper analyzes the heterogeneous effects of monetary policy on workers with differing levels of labor force attachment.Exploiting variation in labor market tightness across metropolitan areas, we show that the employment of population…
View article: Financing Labor
Financing Labor Open
Financial market imperfections can have significant impact on employment decisions of firms. We illustrate the economic importance of this channel by showing that employment decisions are constrained by firms’ financial health and liquidit…
View article: Strong Employers and Weak Employees
Strong Employers and Weak Employees Open
Efraim Benmelech⇑, Nittai K. Bergman and Hyunseob Kim Harold L. Stuart Professor of Finance at the Kellogg School of Management, Northwestern University. Professor of Economics at the Berglas School of Economics and Coller School of Manage…
View article: Mobility Reduction and Covid-19 Transmission Rates
Mobility Reduction and Covid-19 Transmission Rates Open
Assessing the contribution of mobility restrictions to the control of Covid-19 diffusion is an urgent challenge of global import. We analyze the relation between transmission rates (estimated effective reproduction numbers) and societal mo…
View article: Debt, Information, and Illiquidity
Debt, Information, and Illiquidity Open
We analyze the empirical determinants of liquidity in debt markets in light of predictions stemming from debt-based information theories. We conduct a battery of tests confirming predictions of asymmetric information models of bond liquidi…
View article: Strong Employers and Weak Employees: How Does Employer Concentration Affect Wages?
Strong Employers and Weak Employees: How Does Employer Concentration Affect Wages? Open
We analyze the effect of local-level labor market concentration on wages.Using Census data over the period 1977-2009, we find that: (1) local-level employer concentration exhibits substantial cross-sectional and time-series variation and i…
View article: The Effect of Cash Injections: Evidence from the 1980s Farm Debt Crisis
The Effect of Cash Injections: Evidence from the 1980s Farm Debt Crisis Open
What is the effect of cash injections during financial crises?Exploiting county-level variation arising from random weather shocks during the 1980s Farm Debt Crisis, we analyze and measure the effect of local cash flow shocks on the real a…
View article: Credit Market Freezes
Credit Market Freezes Open
Credit market freezes in which debt issuance declines dramatically and market liquidity evaporates are typically observed during financial crises.In the financial crisis of 2008-09, the structured credit market froze, issuance of corporate…