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Journal Article
Evaluating the role of labor market mismatch in rising unemployment
Barlevy, Gadi (2011-07)
Recent labor market trends have raised concerns that the unemployment rate is high not because employers are reluctant to hire but because they are unable to hire. These concerns, if true, would cast doubt on using monetary policy to stimulate the labor market, since it works by encouraging firms to hire more. Using a matching function approach, the author finds that a shock that makes it more difficult for firms to hire qualified applicants would by itself imply an unemployment rate of no more than 7.1 percent, much below the actual unemployment rate during the past two years. Hence, the ...
Economic Perspectives , Volume 35 , Issue Q III , Pages 82-96

Journal Article
A burden to America? immigration and the economy
Zaretsky, Adam M. (1997-10)
Conventional wisdom maintains that immigrants take out of an economy more than they put in. Conventional wisdom, in this case, may not be so wise.
The Regional Economist , Issue Oct , Pages 5-9

Working Paper
Amenities and the returns to human capital
Beeson, Patricia E. (1987)
A demonstration that regional differences in the returns to human capital do not necessarily imply structural differences in regional labor markets, but could be reflecting compensation for regional differences in amenities.
Working Papers (Old Series) , Paper 8709

Working Paper
Which industries are shifting the Beveridge curve?
Sahin, Aysegul; Hobijn, Bart; Barnichon, Regis (2010)
The negative relationship between the unemployment rate and the job openings rate, known as the Beveridge curve, has been relatively stable in the U.S. over the last decade. Since the summer of 2009, however, the U.S. unemployment rate has hovered between 9.4 and 10.1 percent in spite of firms reporting more job openings. We decompose the recent deviation from the Beveridge curve into different parts using data from the Job Openings and Labor Turnover Survey (JOLTS). We find that most of the current deviation from the Beveridge curve can be attributed to a shortfall in the vacancy yield, ...
Working Paper Series , Paper 2010-32

Journal Article
Job polarization leaves middle-skilled workers out in the cold
Marifian, Elise; Canon, Maria E. (2013-01)
The economy has increased its demand for high-skilled (high-wage) workers, while opportunities for middle-skilled (middle-wage) jobs have declined. This ?job polarization? may require a shift in the sort of training that is encouraged for American workers.
The Regional Economist , Issue Jan

Working Paper
Technological adaptation, cities and new work
Lin, Jeffrey (2009)
Where does adaptation to innovation take place? The author presents evidence on the role of agglomeration economies in the application of new knowledge to production. All else equal, workers are more likely to be observed in new work in locations that are initially dense in both college graduates and industry variety. This pattern is consistent with economies of density from the geographic concentration of factors and markets related to technological adaptation. A main contribution is to use a new measure, based on revisions to occupation classifications, to closely characterize ...
Working Papers , Paper 09-17

Working Paper
Asymmetric information in the labor market: new evidence on layoffs, recalls, and unemployment
Rodriguez-Planas, Nuria (1999)
In the United States, many laid-off workers are recalled to their former employer. I develop an asymmetric information model of layoffs in which high-productivity workers are more likely to be recalled and may choose to remain unemployed rather than accept a low-wage job. In this case, unemployment can serve as a signal of productivity, and unemployment duration may be positively related to post-layoff wages even among workers who are not recalled. In contrast, since workers whose plant closed cannot be recalled, longer unemployment duration should not have a positive signaling benefit for ...
Finance and Economics Discussion Series , Paper 1999-09

Speech
The national and regional economic outlook
Dudley, William (2012)
Remarks at the Center for Economic Development, Syracuse, New York.
Speech , Paper 79

Conference Paper
Mismatch
Shimer, Robert (2006)
This paper develops a dynamic model of mismatch. Workers and jobs are randomly assigned to labor markets. Each labor market clears at each instant but some labor markets have more workers than jobs, hence unemployment, and some have more jobs than workers, hence vacancies. As workers and jobs move between labor markets, some unemployed workers find vacant jobs and some employed workers lose or leave their job and become unemployed. The model is quantitatively consistent with the comovement of unemployment, job vacancies, and the rate at which unemployed workers find jobs over the business ...
Proceedings

Working Paper
Phillips curves, monetary policy, and a labor market transmission mechanism
Reed, Robert R.; Schreft, Stacey L. (2007)
This paper develops a general equilibrium monetary model with performance incentives to study the inflation-unemployment relationship. A long-run downward-sloping Phillips curve can exist with perfectly anticipated inflation because workers? incentive to exert effort depend on financial market returns. Consequently, higher inflation rates can reduce wages and stimulate employment. An upward-sloping or vertical Phillips Curve can arise instead, depending on agents? risk aversion and the possibility of capital formation. Welfare might be higher away from the Friedman rule and with a central ...
Research Working Paper , Paper RWP 07-12

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