Dear colleagues, The Department of Economics cordially invites you to the WU Economics Research Seminar on Wednesday, April 12th, with Georg Gebhardt (University of Ulm) on "Do Public Bank Guarantees Affect Labor Market Outcomes? Evidence from Individual Employment and Wages" Abstract: We investigate whether employees in Germany benefit from public bank guarantees in terms of employment probability and wages. Our analysis is based on the combination of two data sets matching firms' dependence on public bank loans with detailed biography data of their employees. For identification, we exploit the natural experiment of the removal of public bank guarantees in 2001. Using a triple difference approach with placebo data as additional interaction we are able to identify a causal effect. We find that public bank guarantees contrary to their purpose lead to lower income prospects for employees after working in affected establishments. This effect is driven by a higher non-employment probability rather than lower wages. The results suggest that the employees do not benefit from public bank guarantees. Date: Wednesday, April 12th Time: 4.30 to 6 pm (CET) Location: building D4, ground floor, room D4.0.144 With best regards, Harald Oberhofer --- Univ.-Prof. Dr. Harald Oberhofer Department of Economics WU Vienna University of Economics and Business Phone: +43/1/31336-4984 Email: harald.oberhofer@wu.ac.at<mailto:harald.oberhofer@wu.ac.at> Webpage: https://www.wu.ac.at/ie/mitarbeiter/harald-oberhofer/ Austrian Institute of Economic Research (WIFO) Phone: +43/1/7982601-468 Email: harald.oberhofer@wifo.ac.at<mailto:harald.oberhofer@wifo.ac.at> Webpage: http://www.wifo.ac.at/harald_oberhofer