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Working Paper
Consumer Bankruptcy, Mortgage Default and Labor Supply
Li, Wenli; Meghir, Costas; Oswald, Florian (2022-08-30)
We specify and estimate a lifecycle model of consumption, housing demand and labor supply in an environment where individuals may file for bankruptcy or default on their mortgage. Uncertainty in the model is driven by house price shocks, education specific productivity shocks, and catastrophic consumption events, while bankruptcy is governed by the basic institutional framework in the U.S. as implied by Chapter 7 and Chapter 13. The model is estimated using micro data on credit reports and mortgages combined with data from the American Community Survey. We use the model to understand the ...
Working Papers , Paper 22-26

Working Paper
The Intensity of Job Search and Search Duration
Kudlyak, Marianna; Faberman, R. Jason (2014-05-15)
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
Heterogeneity and the Effects of Aggregation on Wage Growth
Rich, Robert W.; Tracy, Joseph (2022-08-02)
This paper focuses on the implications of alternative methods of aggregating individual wage data for the behavior of economy-wide wage growth. The analysis is motivated by evidence of significant heterogeneity in individual wage growth and its cyclicality. Because of this heterogeneity, the choice of aggregation will affect the properties of economy-wide wage growth measures. To assess the importance of this consideration, we provide a decomposition of wage growth into aggregation effects and composition effects and use the decomposition to compare growth in an average wage—specifically ...
Working Papers , Paper 2211

Working Paper
Impact of first-birth career interruption on earnings: evidence from administrative data
Walker, Mary Beth; Pitts, M. Melinda; Hotchkiss, Julie L. (2014-11-01)
This paper uses unique administrative data to expand the understanding of the role women's intermittency decisions play in the determination of their wages. We demonstrate that treating intermittency as exogenous significantly overstates its impact. The intermittency penalty also increases in the education level of the woman. The penalty for a woman with a high school degree with an average amount of intermittency during six years after giving birth to her first child is roughly half the penalty for a college graduate. We also demonstrate the value of using an index to capture multiple ...
FRB Atlanta Working Paper , Paper 2014-23

Discussion Paper
Wage Growth over Unemployment Spells
Silos, Pedro; Fang, Lei (2020-07-13)
This article looks at the wage growth associated with a spell of unemployment during the past three recessions. Our main findings are threefold. First, half of all unemployed workers experience a lower hourly wage once they regain employment. Second, afteran unemployment spell, older workers and those without a college degree experience lower wage growth. Third, workers who regain employment in a different industry than they were in previously tend to experience a substantial wage decline. The analysis suggests that the COVID-19 pandemic not only led to unprecedented job losses, but it could ...
Policy Hub , Paper 2020-9

Working Paper
Subjective Earnings Risk
Caplin, Andrew; Gregory, Victoria; Lee, Eungik; Leth-Petersen, Soren; Sæverud, Johan (2023-08-11)
While earnings risk is essentially subjective, it is typically inferred from administrative data. We introduce a survey to measure subjective earnings risk, paying particular attention to the expected impacts of job transitions on earnings. Linking with administrative data provides multiple credibility checks. Subjective expectations about earnings growth and job transitions are consistent with actual realizations when appropriately aggregated. We also find subjective earnings risk is lower than risk inferred from administrative data because expected earnings growth is heterogeneous, even ...
Working Papers , Paper 2023-003

Journal Article
Lifetime Earnings Differences across Black and White Individuals: Years Worked Matter
Glover, Andrew; Mustre-del-Rio, Jose; Pollard, Emily (2022-12-01)
In this article, Andrew Glover, José Mustre-del-Río, and Emily Pollard go beyond point-in-time measures of earnings and examine lifetime earnings differences between Black and white individuals. They find that, on average, Black individuals earn about one-third less than white individuals over the course of their lifetimes (a difference equivalent to about $550,000), though the size of this gap varies by sex and education level. In addition, they find that differences in years worked, which are not captured by point-in-time measures, contribute substantially to earnings differences between ...
Economic Review , Volume 108 , Issue no.1

Working Paper
Lifetime Work Hours and the Evolution of the Gender Wage Gap
Leukhina, Oksana; Vandenbroucke, Guillaume (2025-02-03)
The gender wage gap expanded between 1940 and 1975 but narrowed sharply between 1980 and 1995. We use a human capital accumulation model introduced in Ben-Porath (1967) to assess the role of gender differences in life-cycle profiles of market time and occupation sorting in explaining the gender wage gap dynamics over the long run. Men’s aggregate hours profiles changed little across cohorts, but women’s profiles converged to those of men, and especially so in higher-paying occupations. We calibrate the model to wage data by age, year, gender and occupation, and find that changing time ...
Working Papers , Paper 2022-025

Discussion Paper
How Do Firms Respond to Hiring Difficulties?
Terry, Ellyn; de Zeeuw, Mels (2018-03-01)
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
The impact of temporary protected status on immigrants’ labor market outcomes
Zavodny, Madeline; Orrenius, Pia M. (2014-12-01)
The United States currently provides Temporary Protected Status (TPS) to more than 300,000 immigrants from selected countries. TPS is typically granted if dangerous conditions prevail in the home country due to armed conflict or a natural disaster. Individuals with TPS cannot be deported and are allowed to stay and work in the United States temporarily. Despite the increased use of TPS in recent years, little is known about how TPS affects labor market outcomes for beneficiaries, most of whom are unauthorized prior to receiving TPS. This study examines how migrants from El Salvador who are ...
Working Papers , Paper 1415

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