Search Results
Journal Article
Tax credits for job creation and retention: What can we learn from the states?
This Letter describes how state tax credits for job creation and retention are structured in terms of size and function and discusses what lessons from state experiences might be relevant to the public debate over a possible federal credit.
Journal Article
Inner cities offer competitive advantages
More businesses are locating in inner cities, where lower rents and proximity to suppliers, customers, and willing workers are boosting the bottom line. Outside investors who have not caught on will find this article enlightening.
Speech
Job polarization in the region
Remarks at the Quarterly Regional Economic Press Briefing, New York City.
Journal Article
Spotlight: Texas employment : gains aren’t simply a low-wage jobs story
Amid reports of the nation?s weak economic recovery, high unemployment and slow job growth, attention has turned to Texas, the only large state on track to surpass its prerecession peak employment by year-end. Since the U.S. recession concluded in 2009, Texas employment has grown 3.3 percent, compared with 0.6 percent for the rest of the states.[1] Texas added 827,000 jobs, an 8.7 percent increase, between 2001 and 2010 and expanded in every category except manufacturing, information and construction. The nation lost 2.8 million jobs during that period, a 2.3 percent decline.
Journal Article
Why aren't we creating more jobs? Job growth usually rebounds quickly after a severe recession, but this time is different
Related links:> https://www.richmondfed.org/-/media/richmondfedorg/publications/research/econ_focus/2011/q3/cover_weblinks.cfm
Journal Article
Homemade: economic development efforts focus on locals
Journal Article
Job growth and economic growth in California
California job growth over the past two decades has been relatively anemic compared with gains in the rest of the country. Nevertheless, economic output has grown faster in California than in the rest of the United States. One factor underlying this pattern may be the growth of higher-wage jobs in California, which has contributed more to output than to employment growth. This creates relatively few opportunities for low-skilled workers, which may help explain why poverty increased more in California than in most states over the period.
Working Paper
Labor matching: putting the pieces together
The original Mortensen-Pissarides model possesses two elements that are absent from the commonly used simplified version: the job destruction margin and training costs. I find that these two elements enable a model driven by a single aggregate shock to simultaneously explain most movements involving unemployment, vacancies, job destruction, job creation, the job finding rate and wages. The job destruction margin's role in propagating aggregate shocks is to create an additional pool of unemployed at the onset of a recession. The role of training costs is to explain the simultaneous decline in ...
Working Paper
Job matching and propagation
In the U.S. labor market, the vacancy-unemployment ratio and employment react sluggishly to productivity shocks. The authors show that the job matching model in its standard form cannot reproduce these patterns due to excessively rapid vacancy responses. Extending the model to incorporate sunk costs for vacancy creation yields highly realistic dynamics. Creation costs induce entrant firms to smooth the adjustment of new openings following a shock, leading the stock of vacancies to react sluggishly.