Finance Seminar with Vyacheslav Fos, Boston College, Carroll School of Management
The Department of Finance is proud to announce the upcoming seminar with Vyacheslav Fos, Boston College, Carroll School of Management.
Vyacheslav Fos will present:
Gig-Labor: Trading Safety Nets for Steering Wheels
This paper shows that the introduction of the “gig-economy” changes the way employees respond to job loss. Using a comprehensive set of Uber product launch dates and employee-level data on job separations, we show that laid-oﬀ employees with access to Uber are less likely to apply for UI beneﬁts, rely less on household debt, and experience fewer delinquencies. Our empirical strategy is based on a triple diﬀerence-in-diﬀerence empirical model, comparing the diﬀerence in outcome variables 1) pre- and post-layoﬀ, 2) before and after Uber enters a market, and 3) between workers with and without the ability to participate on the ride-sharing platform (car-owners inferred from auto credit histories). In support of our identiﬁcation strategy, we ﬁnd no apparent pre-existing diﬀerence in outcomes in the months leading up to Uber’s entry into a market. Moreover, the eﬀects are severely attenuated for workers with an auto lease, for whom the viability of participating on the ride-sharing platform is signiﬁcantly reduced. Overall, our ﬁndings show that the introduction Uber had a profound eﬀect on labor markets.
Solbjerg Plads 3,