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Author:Kudlyak, Marianna 

Journal Article
Is involuntary part-time employment different after the great recession?

The unemployment rate has been declining significantly since the Great Recession ended; however, the ranks of those involuntarily working part time have been declining at a slower pace. How does this situation compare with what happened after previous recessions?
The Regional Economist

Working Paper
Revisiting the Behavior of Small and Large Firms during the 2008 Financial Crisis

Gertler and Gilchrist (1994) provide evidence for the prevailing view that adverse shocks are propagated via credit constraints of small firms. We revisit the behavior of small versus large firms during the episodes of credit disruption and recessions in the sample extended to cover the 2007-09 economic crisis. We find that large firms? short-term debt and sales contracted relatively more than those of small firms during the 2007-09 episode. Furthermore, the short-term debt of large firms also contracted relatively more in the previous tight money episodes if one takes into account the longer ...
Working Paper Series , Paper 2016-22

Working Paper
Productivity insurance: the role of unemployment benefits in a multi-sector model

We construct a multi-sector search and matching model where the unemployed receive idiosyncratic productivity shocks that make working in certain sectors more productive than in the others. Agents must decide which sector to search in and face moving costs when leaving their current sector for another. In this environment, unemployment is associated with an additional risk: low future wages if mobility costs preclude search in the appropriate sector. This introduces a new role for unemployment benefits?productivity insurance while unemployed. Analytically, we characterize two competing ...
Working Paper , Paper 13-11

Journal Article
Who from Out of the Labor Force Is Most Likely to Find a Job?

The best predictor of someone from outside the labor force finding a job is how recently the person was employed, rather than their self-reported desire to work as is conventionally thought. Between 1999 and 2019, the composition of the out of the labor force group shifted towards people out of work for longer. Consequently, the pool has become less employable. This indicates that, even though the out of the labor force pool is larger, it does not signify additional labor market slack beyond that accounted for by the standard unemployment rate.
FRBSF Economic Letter , Volume 2020 , Issue 02 , Pages 05

Journal Article
Aging and the Economy: The Japanese Experience

Because of its unusually high percentage of older people, Japan is heavily analyzed by other developed economies for studying the impact of aging on a macroeconomy. Does a large older population affect such things as output, inflation and labor force participation?
The Regional Economist , Issue Oct

Working Paper
The Intensity of Job Search and Search Duration

We use micro data on applications to job openings by individuals on a job search website to study the relationship between search intensity and search duration. Our data allow us to control for several factors that can affect the measured relationship between intensity and duration, including the composition of job seekers and changes in the number of available job openings over the duration of search. We find that a job seeker sends fewer applications per week as search continues. We also find that job seekers who search on the website longer tend to send more applications in every period. ...
Working Paper , Paper 14-12

Working Paper
Revisiting Gertler-Gilchrist Evidence on the Behavior of Small and Large Firms

Gertler and Gilchrist (1994) provide evidence for the prevailing view that adverse shocks are propagated via credit constraints of small firms. We revisit the behavior of small versus large firms during the episodes of credit disruption andrecessions in the sample extended to cover the 2007-09 economic crisis. We find that large firms' short-term debt and sales contracted relatively more than those of small firms during the 2007-09 episode. Furthermore, the short-term debt of large firms also contracted relatively more in the previous tight money episodes if one takes into account the longer ...
Working Paper , Paper 16-5

Briefing
Why Are Women Leaving the Labor Force?

The female labor force participation (LFP) rate has dropped steadily since 2000, especially among single women. At the same time, the percentage of single women has grown as a share of the female population, a trend that has increased the impact of the single women's LFP rate on the aggregate women's LFP rate. An analysis of data from the Current Population Survey shows that a growing percentage of single women who are not in the labor force are going to school. Meanwhile, an increasing share of married women list retirement as the reason for no longer participating in the labor force.
Richmond Fed Economic Brief , Issue Nov

Journal Article
Flows To and From Working Part Time for Economic Reasons and the Labor Market Aggregates During and After the 2007-09 Recession

Using counterfactual exercises for the transition probabilities between full-time employment, part-time employment for economic reasons (PTER), part-time employment for noneconomic reasons (PTNER), unemployment, and out-of-the-labor-force similar to Shimer (2012), we find that, ceteris paribus, changes in the transition probabilities to and from PTER in the aftermath of the 2007-09 recession were mainly associated with changes in the composition of employment (full- versus part time, and PTER versus PTNER) instead of with changes in the distribution of individuals between employment and ...
Economic Quarterly , Issue 2Q , Pages 87-111

Briefing
Job search behavior: lessons from online job search

While there is a large body of theoretical work about the job search process, there is relatively little empirical evidence about important aspects of workers? search behavior. A new database of online job posting data sheds light on how workers search for jobs.
Richmond Fed Economic Brief , Issue Apr , Pages 1-4

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