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Jel Classification:J01 

Journal Article
Women Are Driving the Recent Recovery in Prime-Age Labor Force Participation

The labor force participation rate of prime-age individuals (age 25 to 54) in the United States declined dramatically during and after the Great Recession. While the rate remains below its pre-recession level, it has been increasing steadily since 2015. We examine how different demographic groups have contributed to this rebound and find that college-educated women have made the largest contribution to the recent recovery in the prime-age labor force participation rate.
Economic Bulletin , Issue Dec 18, 2019 , Pages 4

Discussion Paper
Wage Insurance: A Potential Policy for Displaced Workers

Despite the existing safety net, worker displacement continues to have severe consequences that motivate the consideration of new social insurance programs. Wage insurance is a novel policy that temporarily provides additional income to workers who lose their job and become re-employed at a lower wage. In this post, we draw on evidence from our recent working paper analyzing the effects of a U.S. wage insurance program on worker earnings and employment outcomes. Among workers displaced by international trade, we find that eligibility for wage insurance increased the probability of employment ...
Liberty Street Economics , Paper 20240717

Discussion Paper
Searching for Higher Job Satisfaction

Job-to-job transitions—those job moves that occur without an intervening spell of unemployment—have been discussed in the literature as a driver of wage growth. Economists typically describe the labor market as a “job ladder” that workers climb by moving to jobs with higher pay, stronger wage growth, and better benefits. It is important, however, that these transitions not be interspersed with periods of unemployment, both because such downtime could lead to a loss in accumulated human capital and because “on-the-job search” is more effective than searching while unemployed. Yet ...
Liberty Street Economics , Paper 20200304c

Discussion Paper
Women Have Been Hit Hard by the Loss of Routine Jobs, Too

Technological change and globalization have caused a massive transformation in the U.S. economy. While creating new opportunities for many workers, these forces have eliminated millions of good-paying jobs, particularly routine jobs in the manufacturing sector. Indeed, a great deal of attention has focused on the consequences of the loss of blue-collar production jobs for prime‑age men. What is often overlooked, however, is that women have also been hit hard by the loss of routine jobs, particularly administrative support jobs—a type of routine work that has historically been largely ...
Liberty Street Economics , Paper 20200304a

Discussion Paper
Introduction to Heterogeneity Series II: Labor Market Outcomes

While average outcomes serve as important yardsticks for how the economy is doing, understanding heterogeneity—how outcomes vary across a population—is key to understanding both the whole picture and the implications of any given policy. Following our six-part look at heterogeneity in October 2019, we now turn our focus to heterogeneity in the labor market—the subject of four posts set for release tomorrow morning. Average labor market statistics mask a lot of underlying variability—disparities that factor into labor market dynamics. While we have written about labor market ...
Liberty Street Economics , Paper 20200303

Discussion Paper
What Have Workers Done with the Time Freed up by Commuting Less?

The COVID-19 pandemic has dramatically changed the way Americans spend their time. One of the most enduring shifts has occurred in the workplace, with millions of employees making the switch to work from home. Even as the pandemic has waned, more than 15 percent of full-time employees remain fully remote and an additional 30 percent work in hybrid arrangements (Barrero, Bloom, and Davis). These changes have substantially reduced time spent commuting to work; in the aggregate, Americans now spend 60 million fewer hours traveling to work each day. In this post, we investigate how people spend ...
Liberty Street Economics , Paper 20221018

Discussion Paper
How Do Firms Respond to Hiring Difficulties?

Using data from the Federal Reserve Banks' 2017 Small Business Credit Survey (SBCS), this paper investigates the various ways in which different types of firms with less than 500 employees experience and address hiring difficulties, including when they decide to increase compensation.The authors find significant variation in hiring difficulties by type of firm, and a firm's response appears to depend on the nature of the problem. The most common response is to increase compensation, with firms that experience competition from other employers being the most likely to do so. Other common ...
FRB Atlanta Community and Economic Development Discussion Paper , Paper 2018-01

Working Paper
Audit Partners and Loan Loss Provisioning: Evidence from U.S. Bank Holding Companies

This paper uses confidential data on audit engagement partner names from regulatory filings of bank holding companies (BHC) to investigate whether partners display individual style that affects the financial reporting of the BHCs. We focus on loan loss provisioning. We construct an audit partner-BHC matched panel data set that enables us to track different partners across different BHCs over time. We employ two empirical approaches to investigate partner style. The first approach tests whether partner fixed effects are statistically significant in loan loss provisioning models. The second ...
Working Papers , Paper 2209

Discussion Paper
Delaying College During the Pandemic Can Be Costly

Many students are reconsidering their decision to go to college in the fall due to the coronavirus pandemic. Indeed, college enrollment is expected to be down sharply as a growing number of would-be college students consider taking a gap year. In part, this pullback reflects concerns about health and safety if colleges resume in-person classes, or missing out on the “college experience” if classes are held online. In addition, poor labor market prospects due to staggeringly high unemployment may be leading some to conclude that college is no longer worth it in this economic environment. ...
Liberty Street Economics , Paper 20200713

Discussion Paper
Remote Work Is Sticking

When the pandemic hit in early 2020, many businesses quickly and significantly expanded opportunities for their employees to work from home, resulting in a large increase in the share of work being done remotely. Now, more than two years later, how much work is being done from home? In this post, we update our analysis from last year on the extent of remote work in the region. As has been found by others, we find that some of the increase in remote work that began early in the pandemic is sticking. According to firms responding to our August regional business surveys, about 20 percent of all ...
Liberty Street Economics , Paper 20220818

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