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Author:Wascher, William L. 

Working Paper
The causes and consequences of economic restructuring: evidence from the early 21st century

A number of industries underwent large and permanent reductions in employment growth at the beginning of this decade, a process we label as restructuring. We describe how restructuring occurred and what its consequences were for the economy. In particular, we find that restructuring stemmed largely from relative demand shocks (though technology shocks were important in some industries) and that elevated levels of permanent job destruction and permanent layoffs were distinguishing features of industries subject to restructuring. In addition, most workers displaced in restructuring industries ...
Finance and Economics Discussion Series , Paper 2008-41

Conference Paper
Regional house price dispersion and interregional migration

Proceedings , Issue Nov

Working Paper
Reconciling the evidence on employment effects of minimum wages: a review of our research findings

Finance and Economics Discussion Series , Paper 95-53

Working Paper
Some direct evidence on the importance of borrowing constraints to the labor force participation of married women

Working Paper Series / Economic Activity Section , Paper 63

Working Paper
Aggregate supply in the United States: recent developments and implications for the conduct of monetary policy

The recent financial crisis and ensuing recession appear to have put the productive capacity of the economy on a lower and shallower trajectory than the one that seemed to be in place prior to 2007. Using a version of an unobserved components model introduced by Fleischman and Roberts (2011), we estimate that potential GDP is currently about 7 percent below the trajectory it appeared to be on prior to 2007. We also examine the recent performance of the labor market. While the available indicators are still inconclusive, some indicators suggest that hysteresis should be a more present concern ...
Finance and Economics Discussion Series , Paper 2013-77

Working Paper
Downward Nominal Wage Rigidity in the United States during and after the Great Recession

Rigidity in wages has long been thought to impede the functioning of labor markets. In this paper, we investigate the extent of downward nominal wage rigidity in US labor markets using job-level data from a nationally representative establishment-based compensation survey collected by the Bureau of Labor Statistics. We use several distinct methods to test for downward nominal wage rigidity and to assess whether such rigidity is less or more severe in the presence of negative economic shocks than in more normal economic times. We find a significant amount of downward nominal wage rigidity in ...
Working Papers , Paper 16-02R

Working Paper
Persistence effects in labor force participation

Working Paper Series / Economic Activity Section , Paper 44

Working Paper
Can we improve preliminary estimates of payroll employment growth?

Working Paper Series / Economic Activity Section , Paper 97

Working Paper
Labor Force Participation: Recent Developments and Future Prospects

Since 2007, the labor force participation rate has fallen from about 66 percent to about 63 percent. The sources of this decline have been widely debated among academics and policymakers, with some arguing that the participation rate is depressed due to weak labor demand while others argue that the decline was inevitable due to structural forces such as the aging of the population. In this paper, we use a variety of approaches to assess reasons for the decline in participation. Although these approaches yield somewhat different estimates of the extent to which the recent decline in ...
Working Papers (Old Series) , Paper 1410

Working Paper
Cross-industry differences in race and gender wage differentials

Working Paper Series / Economic Activity Section , Paper 59

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