Search Results
Showing results 1 to 10 of approximately 106.
(refine search)
Working Paper
Vacancy Chains
Elsby, Michael; Michaels, Ryan; Gottfries, Axel; Ratner, David
(2022-08-19)
Replacement hiring—recruitment that seeks to replace positions vacated by workers who quit—plays a central role in establishment dynamics. We document this phenomenon using rich microdata on U.S. establishments, which frequently report no net change in their employment, often for years at a time, despite facing substantial gross turnover in the form of quits. We devise a tractable model in which replacement hiring is driven by a novel structure of frictions, combining firm dynamics, on-the-job search, and investments into job creation that are sunk at the point of replacement. A key ...
Working Papers
, Paper 22-23
Report
Do informal referrals lead to better matches? Evidence from a firm's employee referral system
Topa, Giorgio; Brown, Meta; Setren, Elizabeth
(2012)
The limited nature of data on employment referrals in large business and household surveys has so far limited our understanding of the relationships among employment referrals, match quality, wage trajectories, and turnover. Using a new, firm-level data set that includes explicit information on whether a worker was referred by a current employee of the company, we are able to provide rich detail on these empirical relationships for a single U.S. corporation, and to test various predictions of theoretical models of labor market referrals. Predictions with which our results align include: 1) ...
Staff Reports
, Paper 568
Journal Article
A Slowdown in Job Vacancies Is Likely to Coincide with Higher Unemployment and Slower Wage Growth
Bi, Huixin; Gulati, Chaitri; Mustre-del-Rio, Jose
(2022-08-10)
Recently, some market observers have proposed that job vacancies could decline, and ease wage growth, without a commensurate increase in the unemployment rate. However, we find that the typical relationship of declining job vacancies and higher unemployment holds even at exceptionally low levels of the unemployment rate. A notable decline in job postings will likely coincide with an easing of tightness in the labor market, a higher unemployment rate, and slowing wage growth.
Economic Bulletin
, Issue August 10, 2022
, Pages 4
Working Paper
Employment Dynamics in a Signaling Model with Workers' Incentives
Weingarden, Alison E.
(2017-04)
Many firms adjust employment in a "lumpy" manner -- infrequently and in large bursts. In this paper, I show that lumpy adjustments can arise from concerns about the incentives of remaining workers. Specifically, I develop a model in which a firm's productivity depends on its workers' effort and workers' income prospects depend on the firm's profitability. I use this model to analyze the consequences of demand shocks that are observed by the firm but not by its workers, who can only try to infer the firm's profitability from its employment decisions. I show that the resulting signaling model ...
Finance and Economics Discussion Series
, Paper 2017-040
Working Paper
The Dual Beveridge Curve
Cheremukhin, Anton A.; Restrepo-Echavarria, Paulina
(2023-09-13)
This study introduces a dual vacancy model to explain the recent anomalous behavior of the Beveridge curve. The model proposes that job vacancies are partitioned into two categories, one for the unemployed and the other for job-to-job transitions, and that they function in separate markets. We estimate the monthly numbers of both job vacancy types for the U.S. economy and its subsectors starting from 2000 and find a significant surge in poaching vacancies in the mid-2010s. Our analysis indicates that the dual vacancy model provides a better fit to the data than traditional models. These ...
Working Papers
, Paper 2022-021
Working Paper
Estimating Matching Efficiency with Variable Search Effort
Hornstein, Andreas; Kudlyak, Marianna
(2015-05-21)
We introduce a simple representation of endogenous search effort into the standard matching function with job-seeker heterogeneity. Using the estimated augmented matching function, we study the sources of changes in the average employment transition rate. In the standard matching function the contribution of market tightness (matching efficiency) is increasing (decreasing) in the matching function elasticity. For our augmented matching function search effort is pro-cyclical for small matching elasticity and accounts for most of the transition rate volatility, with small contributions from ...
Working Paper Series
, Paper 2016-24
Working Paper
The Hedgehog’s Curse: Knowledge Specialization and Displacement Loss
Hernandez Martinez, Victor; Holter, Hans; Pinheiro, Roberto
(2022-11-09)
This paper studies the impact of knowledge specialization on earnings losses following displacement. We develop a novel measure of the specialization of human capital, based on how concentrated the knowledge used in an occupation is. Combining our measure with individual labor histories from the NLSY 79-97 and Norway’s LEED, we show that workers with more specialized human capital suffer larger earnings losses following exogenous displacement. A one standard deviation increase in pre-displacement knowledge specialization increases the earnings losses post-displacement by 3 to 4 pp per year ...
Working Papers
, Paper 22-31
Working Paper
Competitors' Stock Price Reaction to Mass Layoff Announcements
Pinheiro, Roberto; Bordeman, Adam; Kannan, Bharadwaj
(2016-04-18)
Using data on layoff announcements by S&P 500 firms, we show that layoff announcements mostly contain industrywide news. Competitors? stock price reactions are positively correlated with the announcer?s returns. This contagion effect is stronger for competitors whose values depend on growth opportunities. When layoff announcements induce positive stock returns to announcers, competitors with positive R&D see a 1.15% increase in their returns. Conversely, when announcements induce negative reactions to announcers, competitors with high sales growth see a reduction of 1.09% in returns. Our ...
Working Papers (Old Series)
, Paper 1610
Working Paper
The Evolution of Regional Beveridge Curves
Owyang, Michael T.; Shell, Hannah; Soques, Daniel
(2022-11-23)
The slow recovery of the labor market in the aftermath of the Great Recession highlighted mismatch, the misallocation of workers across space or across industries. We consider the historical evolution of regional mismatch. We construct MSA-level unemployment rates and vacancy data using techniques similar to Barnichon (2010) and a new dataset of online help-wanted ads by MSA. We estimate regional Beveridge curves, identifying the slopes by restricting them to be equal across locations with similar labor market characteristics. We find that the 51 U.S. cities in our sample have four groupings ...
Working Papers
, Paper 2022-037
Report
Unemployment Benefits and Unemployment in the Great Recession: The Role of Equilibrium Effects
Mitman, Kurt; Karahan, Fatih; Manovskii, Iourii; Hagedorn, Marcus
(2013-10-01)
Equilibrium labor market theory suggests that unemployment benefit extensions affect unemployment by impacting both job search decisions by the unemployed and job creation decisions by employers. The existing empirical literature focused on the former effect only. We develop a new methodology necessary to incorporate the measurement of the latter effect. Implementing this methodology in the data, we find that benefit extensions raise equilibrium wages and lead to a sharp contraction in vacancy creation and employment and a rise in unemployment.
Staff Reports
, Paper 646
FILTER BY year
FILTER BY Bank
Federal Reserve Bank of San Francisco 17 items
Federal Reserve Bank of St. Louis 16 items
Board of Governors of the Federal Reserve System (U.S.) 14 items
Federal Reserve Bank of Cleveland 13 items
Federal Reserve Bank of Dallas 8 items
Federal Reserve Bank of Minneapolis 8 items
Federal Reserve Bank of Boston 7 items
Federal Reserve Bank of New York 7 items
Federal Reserve Bank of Philadelphia 5 items
Federal Reserve Bank of Atlanta 3 items
Federal Reserve Bank of Chicago 3 items
Federal Reserve Bank of Kansas City 3 items
Federal Reserve Bank of Richmond 2 items
show more (8)
show less
FILTER BY Series
Working Papers 43 items
Working Paper Series 18 items
Finance and Economics Discussion Series 13 items
Staff Reports 7 items
Opportunity and Inclusive Growth Institute Working Papers 4 items
Working Papers (Old Series) 4 items
Staff Report 3 items
Chicago Fed Letter 2 items
FRB Atlanta Working Paper 2 items
Research Working Paper 2 items
Working Paper 2 items
Current Policy Perspectives 1 items
Economic Bulletin 1 items
International Finance Discussion Papers 1 items
New England Public Policy Center Research Report 1 items
Policy Hub 1 items
Review 1 items
show more (12)
show less
FILTER BY Content Type
Working Paper 89 items
Report 12 items
Journal Article 2 items
Newsletter 2 items
Discussion Paper 1 items
FILTER BY Author
Kudlyak, Marianna 16 items
Birinci, Serdar 8 items
See, Kurt 8 items
Wee, Shu Lin 8 items
Hall, Robert E. 7 items
Bernstein, Joshua 6 items
Richter, Alexander W. 6 items
Throckmorton, Nathaniel A. 6 items
Cheremukhin, Anton A. 5 items
Restrepo-Echavarria, Paulina 5 items
Tasci, Murat 5 items
Doniger, Cynthia L. 4 items
Hornstein, Andreas 4 items
Jackson, Osborne 4 items
Krolikowski, Pawel 4 items
Aizenman, Anbar 3 items
Brennan, Connor M. 3 items
Cajner, Tomaz 3 items
Elsby, Michael 3 items
Fallick, Bruce 3 items
Glover, Andrew 3 items
Haltiwanger, John 3 items
Michaels, Ryan 3 items
Pinheiro, Roberto 3 items
Ratner, David 3 items
Tuzemen, Didem 3 items
Williams, Jacob 3 items
Acharya, Sushant 2 items
Ballance, Joshua 2 items
Bordeman, Adam 2 items
Cortes, Kristle Romero 2 items
Gayle, George-Levi 2 items
Hobijn, Bart 2 items
Kannan, Bharadwaj 2 items
Karahan, Fatih 2 items
Lange, Fabian 2 items
Leduc, Sylvain 2 items
Liu, Zheng 2 items
Manovskii, Iourii 2 items
McEntarfer, Erika 2 items
Mitman, Kurt 2 items
Modestino, Alicia Sasser 2 items
Molloy, Raven S. 2 items
Park, Youngmin 2 items
Pugh, Thomas 2 items
Shoag, Daniel 2 items
Smith, Christopher L. 2 items
Topa, Giorgio 2 items
Violante, Giovanni L. 2 items
Weingarden, Alison E. 2 items
Wozniak, Abigail 2 items
http://fedora:8080/fcrepo/rest/objects/authors/ 2 items
Aaronson, Daniel 1 items
Abbott, Graham J. 1 items
Ahn, Hie Joo 1 items
Amornsiripanitch, Natee 1 items
Anderson, Haelim 1 items
Balsvik, Ragnhild 1 items
Barrero, Jose Maria 1 items
Bi, Huixin 1 items
Bick, Alexander 1 items
Bils, Mark 1 items
Blandin, Adam 1 items
Bloom, Nicholas 1 items
Brown, Meta 1 items
Carrillo-Tudela, Carlos 1 items
Carrington, William J. 1 items
Chang, Jin-Wook 1 items
Coglianese, John M. 1 items
Cox, Catherine 1 items
David, Joel M. 1 items
Davis, Steven J. 1 items
Decker, Ryan A. 1 items
Ferraro, Domenico 1 items
Fiori, Giuseppe 1 items
Fitzgerald, Doireann 1 items
Flaaen, Aaron 1 items
Flores, Andrea 1 items
Foote, Christopher L. 1 items
Fujita, Shigeru 1 items
Gavazza, Alessandro 1 items
Golan, Limor 1 items
Gompers, Paul 1 items
Goodman, Lucas 1 items
Gottfries, Axel 1 items
Gulati, Chaitri 1 items
Hagedorn, Marcus 1 items
Haller, Stephanie 1 items
Heathcote, Jonathan 1 items
Hernandez Martinez, Victor 1 items
Holter, Hans 1 items
Hu, George 1 items
Jarmin, Ron S. 1 items
Kaila, Martti 1 items
Kehoe, Patrick J. 1 items
Koşar, Gizem 1 items
Krueger, Dirk 1 items
Kuhn, Moritz 1 items
Kurmann, Andre 1 items
Lentz, Rasmus 1 items
Levinson, Will 1 items
Lewers, Riley 1 items
Lins, Paulo 1 items
Lopez, Pierlauro 1 items
Lunsford, Kurt Graden 1 items
Meyer, Brent 1 items
Midrigan, Virgiliu 1 items
Miller, Robert A. 1 items
Miranda, Javier 1 items
Mitra, Indrajit 1 items
Mongey, Simon 1 items
Moore, Brendan 1 items
Morales-Jimenez, Camilo 1 items
Mukharlyamov, Vladimir 1 items
Mukherjee, Anita 1 items
Mustre-del-Rio, Jose 1 items
Nakajima, Makoto 1 items
Nix, Emily 1 items
Owyang, Michael T. 1 items
Pastorino, Elena 1 items
Pessoa de Araujo, Ana Luisa 1 items
Petrosky-Nadeau, Nicolas 1 items
Potter, Tristan 1 items
Price, Brendan M. 1 items
Qiu, Xincheng 1 items
Ramnath, Shanthi 1 items
Rios-Rull, Jose-Victor 1 items
Riukula, Krista 1 items
Roys, Nicolas 1 items
Ryan, Richard W. 1 items
Sahin, Aysegul 1 items
Schulhofer-Wohl, Sam 1 items
Seo, Taeuk 1 items
Setren, Elizabeth 1 items
Shao, Ling 1 items
Shapiro, Matthew D. 1 items
She, Powen 1 items
Shell, Hannah 1 items
Song, Joseph 1 items
Soques, Daniel 1 items
Sorkin, Isaac 1 items
Sullivan, Daniel G. 1 items
Van der Klaauw, Wilbert 1 items
Visschers, Ludo 1 items
Wall, Larry D. 1 items
Wasmer, Etienne 1 items
Weil, Philippe 1 items
Xu, Yu 1 items
show more (143)
show less
FILTER BY Jel Classification
J64 58 items
E24 57 items
E32 38 items
J23 15 items
J24 11 items
J31 11 items
J41 10 items
J62 9 items
J30 8 items
J65 7 items
E52 6 items
J21 6 items
E37 5 items
D83 3 items
L11 3 items
D22 2 items
D82 2 items
D84 2 items
E23 2 items
E27 2 items
E44 2 items
G14 2 items
J00 2 items
J08 2 items
J11 2 items
J22 2 items
J33 2 items
J44 2 items
J60 2 items
J78 2 items
C13 1 items
C23 1 items
C32 1 items
C33 1 items
C81 1 items
C83 1 items
D10 1 items
D12 1 items
D13 1 items
D21 1 items
D43 1 items
D8 1 items
D81 1 items
E0 1 items
E20 1 items
E61 1 items
E65 1 items
F23 1 items
F66 1 items
G00 1 items
G01 1 items
G10 1 items
G31 1 items
G32 1 items
G34 1 items
G38 1 items
H24 1 items
H25 1 items
H31 1 items
I18 1 items
I20 1 items
I38 1 items
J14 1 items
J26 1 items
J3 1 items
J32 1 items
J6 1 items
L22 1 items
M12 1 items
M51 1 items
M52 1 items
O47 1 items
R13 1 items
show more (69)
show less
FILTER BY Keywords
Unemployment 42 items
vacancies 23 items
COVID-19 8 items
Beveridge curve 6 items
Costly Information 6 items
Inflows 6 items
Multiple Applications 6 items
Outflows 6 items
Job Loss 6 items
Employment 5 items
business cycles 5 items
layoffs 5 items
Search and Matching 5 items
Business cycle 4 items
Current Population Survey 4 items
Recession 4 items
Recovery 4 items
Quits 4 items
Firm Dynamics 4 items
Displacement 3 items
Hiring 3 items
Minimum Wage 3 items
Natural Language Processing 3 items
Neural Networks 3 items
Nonlinear 3 items
job displacement 3 items
replacement hiring 3 items
search 3 items
wages 3 items
Mass Layoffs 3 items
Pandemic 3 items
Turnover 3 items
earnings losses 3 items
human capital 3 items
labor demand 3 items
unemployment insurance 3 items
Downsizing 2 items
Firm characteristics 2 items
Job tenure 2 items
Labor market 2 items
Matching Elasticity 2 items
Matching Function 2 items
Separation Rate 2 items
Skewness 2 items
earnings 2 items
employer effects 2 items
job-finding rates 2 items
match-quality 2 items
matching 2 items
mismatch 2 items
mobility 2 items
sectoral mobility 2 items
Credit check 2 items
Displaced workers 2 items
Earnings Loss 2 items
Firm heterogeneity 2 items
Inflation 2 items
Matching efficiency 2 items
Productivity 2 items
Unemployment Rate 2 items
Wage Rigidity 2 items
Aggregate matching efficiency 1 items
Asymmetric business cycles 1 items
Asymmetric information 1 items
Competitors 1 items
Credit score 1 items
Diamond-Mortenson-Pissarides model 1 items
Displaced Worker Survey 1 items
Diversity 1 items
Earnings inequality 1 items
Economic policy 1 items
Education and Wage Differentials 1 items
Employer Reallocation 1 items
Employer Separations 1 items
Employment adjustment costs 1 items
Employment stability 1 items
Equilibrium search model 1 items
Estimation 1 items
Finding Rate 1 items
Household income 1 items
Household labor dynamics 1 items
Implicit Contracts 1 items
Information Frictions 1 items
Intergenerational mobility 1 items
Job flows 1 items
Job ladder 1 items
Job reallocation 1 items
Job to job transitions 1 items
Jobs 1 items
Knowledge Specialization 1 items
Labor Market Dynamics 1 items
Labor Search 1 items
Labor flows 1 items
Labor force participation rate 1 items
Labor market dynamism 1 items
Labor market fluidity 1 items
Labor market frictions 1 items
Labor supply 1 items
Labor supply and demand 1 items
Labor-Market Uncertainty 1 items
Layoff rates 1 items
Local labor markets 1 items
Long tenure 1 items
Macroeconomic shocks 1 items
Matched employer-employee data 1 items
Moral hazard 1 items
Multinationals 1 items
Multiple-worker firm 1 items
NAIRU 1 items
NEPPC 1 items
New England 1 items
New hires 1 items
Non-compete agreements 1 items
Nonlinear Solution 1 items
On-the-job search 1 items
Online Survey 1 items
Real Business Cycles 1 items
Reallocation 1 items
Recall 1 items
Recession of 1920-1921 1 items
Recruiting intensity 1 items
Redistribution 1 items
Retention 1 items
Rivals 1 items
Search frictions 1 items
Search model 1 items
Seasonal employment 1 items
Seasonality 1 items
Shimer puzzle 1 items
Shutdowns 1 items
Signaling 1 items
Survey of Business Uncertainty 1 items
Tail Risk 1 items
Tenure and Turnover 1 items
Tenure distribution 1 items
Time use 1 items
Uncertainty 1 items
Unemployment volatility puzzle 1 items
User Cost of Labor 1 items
WARN Act 1 items
Wage Differentials (Education and Tenure Based) 1 items
Wage contracts 1 items
Wage differentials 1 items
Wages and compensation 1 items
Worker flows 1 items
adjustment costs 1 items
aggregate demand 1 items
amplification 1 items
anchor 1 items
automation 1 items
bargaining power 1 items
beliefs 1 items
business expectations 1 items
career progression 1 items
clustering 1 items
complementarity 1 items
composition of unemployed 1 items
constrained efficiency 1 items
control group 1 items
corporate financial policy 1 items
credit scores 1 items
cyclicality 1 items
defaults 1 items
dynamic factor models 1 items
efficiency 1 items
employer search 1 items
entrepreneurship 1 items
escheatment 1 items
expectations data 1 items
firm behavior 1 items
frictional labor markets 1 items
fundamental surplus 1 items
government bailouts 1 items
hiring behavior 1 items
household consumption 1 items
household surveys 1 items
job destruction 1 items
job ladders 1 items
job mobility 1 items
job separation rate 1 items
labor market turnover 1 items
labor share 1 items
licensing 1 items
low-wage labor markets 1 items
market power 1 items
middle skills 1 items
minimum wages 1 items
monetary policy 1 items
natural rate of unemployment 1 items
networks 1 items
occupational and industry mobility 1 items
occupations 1 items
optimal contract design 1 items
personnel 1 items
productivity-wage gap 1 items
rational inattention 1 items
reallocation shock 1 items
recessions 1 items
recoveries 1 items
referrals 1 items
retirement savings 1 items
risk premia 1 items
search and matching frictions 1 items
search and matching models 1 items
skills 1 items
sorting 1 items
time-varying discounts 1 items
training 1 items
treatment event 1 items
unemployment fluctuations 1 items
upskilling 1 items
venture capital 1 items
wage dispersion 1 items
wage growth 1 items
wage mobility 1 items
wage-inflation Phillips curve 1 items
work from home 1 items
show more (240)
show less