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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

Conference Paper
Hysteresis in unemployment - comments
Chari, V. V. (2008)
Larry Ball's paper contains two basic ideas. The first is a second generation Phillips Curve which relates changes in inflation to the level of the unemployment rate and the second is the idea that monetary policy has extremely persistent effects on the unemployment rate, well beyond effects over the business cycle.
Conference Series ; [Proceedings]

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

Working Paper
U. S. regional business cycles and the natural rate of unemployment
Wall, Howard J.; Zoega, Gylfi (2003)
Estimates of the natural rate of unemployment are important in many macroeconomic models used by economists and policy advisors. This paper shows how such estimates might benefit from closer attention to regional developments. Regional business cycles do not move in lockstep and greater dispersion among regions can affect estimates of the natural rate of unemployment. There is microeconomic evidence that employers are more reluctant to cut wages than they are to raise them. Accordingly, this means that the relationship between wage inflation and vacancies is convex: an increase in vacancies ...
Working Papers , Paper 2003-030

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

Working Paper
Income in the Off-Season: Household Adaptation to Yearly Work Interruptions
Price, Brendan M.; Coglianese, John M. (2020-10-07)
Joblessness is highly seasonal. To analyze how households adapt to seasonal joblessness, we introduce a measure of seasonal work interruptions premised on the idea that a seasonal worker will tend to exit employment around the same time each year. We show that an excess share of prime-age US workers experience recurrent separations spaced exactly 12 months apart. These separations coincide with aggregate seasonal downturns and are concentrated in seasonally volatile industries. Examining workers most prone to seasonal work interruptions, we find that these workers incur large earnings losses ...
Finance and Economics Discussion Series , Paper 2020-084

Journal Article
Employment forecasts using initial claims for unemployment
Price, Cynthia; Kessler, Marla L. (1993-04)
Cross Sections , Issue Spr , Pages 4-5

Journal Article
Unemployment and its measurement : implications from a survey of long-term unemployment in Baltimore City
Cullison, William E. (1981-09)
An abstract for this article is not available.
Economic Review , Volume 67 , Issue Sep , Pages 6-18

Journal Article
Parental Proximity and the Earnings Consequences of Job Loss
Krolikowski, Pawel; Coate, Patrick; Zabek, Mike (2017-02)
We find post-job-loss earnings recovery is faster for young adults who live near their parents than for young adults who live farther away. This positive effect diminishes gradually as the distance to one?s parents increases. Most of the effect is driven by higher wages after job displacement, not by differences in the number of hours worked. The effect is not present for older workers, who may be caring for elderly parents.
Economic Commentary , Issue February

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

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