Search Results
Working Paper
Job flows, jobless recoveries, and the Great Moderation
This paper uses new data on job creation and job destruction to find evidence of a link between the jobless recoveries of the last two recessions and the recent decline in aggregate volatility known as the Great Moderation. The author finds that the last two recessions are characterized by jobless recoveries that came about through contrasting margins of employment adjustment?a relatively slow decline in job destruction in 1991-92 and persistently low job creation in 2002-03. In manufacturing, he finds that these patterns followed a secular decline in the magnitude of job flows and an abrupt ...
Working Paper
An experimental study of comparable worth
Journal Article
What do expected changes in U.S. job structure mean for states and workers in the Tenth District?
Public interest in the future structure of the U.S. labor market has been understandably high in recent years, for several reasons. Some types of manufacturing and service jobs are going offshore. The recovery in employment from the 2001 recession has been sluggish. And the quality of job creation has been called into question. Against this backdrop, policymakers, businesses, workers, and students in the Tenth Federal Reserve District are asking difficult questions about the future of jobs in their area. Will local industries increase or decrease employment in the years ahead? What types of ...
Working Paper
Gross job flows and firms
This paper extends the work of Dunne, Roberts, and Samuelson [3] and Davis, Haltiwanger, and Schuh [2] on gross job flows among manufacturing plants. Gross job creation, destruction, and reallocation have been shown to be important in understanding the birth, growth, and death of plants, and the relation of plant life cycles to the business cycle. However, little is known about job flows between firms or how job flows among plants occur within firms (corporate restructuring). We use information on company organization from the Longitudinal Research Database (LRD) to investigate the ...
Journal Article
Jobs after the war
Conference Paper
Job reallocation and the business cycle: new facts for an old debate
Journal Article
What's wrong with Houston's job market?
Working Paper
Job creation, job destruction, and the real exchange rate
This paper contributes to an understanding of internationally generated adjustment costs by demonstrating a statistically significant and economically relevant effect of the real exchange rate on job creation and job destruction in U.S. manufacturing industries over the period 1973 to 1993. The responsiveness of these gross job flows to the real exchange rate reflects pervasive heterogeneity with respect to international conditions across firms, even within narrowly defined industries. We document this heterogeneity and show that the responsiveness of job flows to movements in the real ...
Working Paper
Testing optimality in job search models
This paper uses Bayesian techniques to compare three definitions of optimality for the basic job search model: the standard income-maximizing definition, an approximation to the standard definition, and a simple alternative. The important role of prior choice in these comparisons is illustrated. Using natural conjugate priors to represent hypothetical samples of data, we find that the simple alternative is preferred to the standard definition of optimality. However, using priors constructed from findings in the literature, we are able to find some evidence in favor of the standard definition ...