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Working Paper
Firms as Learning Environments: Implications for Earnings Dynamics and Job Search
Gregory, Victoria (2020-08-14)
This paper demonstrates that heterogeneity in firms’ promotion of human capital accumulation is an important determinant of life-cycle earnings inequality. I use administrative micro data from Germany to show that different establishments offer systematically different earnings growth rates for their workers. This observation suggests that that the increase in inequality over the life cycle reflects not only inherent worker variation, but also differences in the firms that workers happen to match with over their lifetimes. To quantify this channel, I develop a life-cycle search model with ...
Working Papers , Paper 2020-036

Journal Article
The Phillips Curve during the Pandemic: Bringing Regional Data to Bear
Higgins, Patrick C. (2021-09-09)
The Phillips curve appears to have held up well at the regional level during the COVID-19 era. Areas of the country that took relatively large hits to their unemployment rate and employment-population ratio during the pandemic have had lower inflation, on average, than areas that took relatively small hits. And, just as prior to the pandemic, the inverse relationship between inflation and unemployment continues to be statistically stronger for the prices of services than of goods.The Phillips curve appears to have held up well at the regional level during the COVID-19 era. Areas of the ...
Policy Hub , Volume 2021 , Issue 11 , Pages 20

Working Paper
A Quantitative Theory of Time-Consistent Unemployment Insurance
Pei, Yun; Xie, Zoe (2016-11-01)
During recessions, the U.S. government substantially increases the duration of unemployment insurance (UI) benefits through multiple extensions. This paper seeks to understand the incentives driving these increases. Because of the trade-off between insurance and job search incentives, the classic time-inconsistency problem arises. During recessions, the U.S. government substantially increases the duration of unemployment insurance (UI) benefits through multiple extensions. This paper seeks to understand the incentives driving these extensions. Because of the trade-off between insurance and ...
FRB Atlanta Working Paper , Paper 2016-11

Discussion Paper
Some Workers Have Been Hit Much Harder than Others by the Pandemic
Abel, Jaison R.; Deitz, Richard (2021-02-09)
As the COVID-19 pandemic took hold in the United States, in just two months—between February and April 2020—the nation saw well over 20 million workers lose their jobs, an unprecedented 15 percent decline. Since then, substantial progress has been made, but employment still remains 5 percent below its pre-pandemic level. However, not all workers have been affected equally. This post is the first in a three-part series exploring disparities in labor market outcomes during the pandemic—and represents an extension of ongoing research into heterogeneities and inequalities in people’s ...
Liberty Street Economics , Paper 20210209a

Discussion Paper
Do Unemployment Benefits Expirations Help Explain the Surge in Job Openings?
Karahan, Fatih; Kapon, Samuel; Sattar, Kaivan K. (2014-09-30)
Job openings are arguably one of the most important indicators of recovery in the labor market, as they reflect employers? willingness to hire. The number of job openings has recovered steadily since the recession, yet through the end of 2013, the openings rate was still substantially below its pre-recession peak (see chart below). Starting in January 2014, however, the number of job openings increased dramatically, up by 20 percent through June 2014, and job openings relative to employment jumped back to the peak of the previous expansion. In this post, we argue that the expiration of the ...
Liberty Street Economics , Paper 20140930

Journal Article
The Tight Labor Market in the Rocky Mountain Region is Showing Some Signs of Easing
Greene, Bethany; Rodziewicz, David (2024-01-10)
Labor market conditions are showing some early signs of softening, as imbalances between labor demand and supply are improving. While labor markets remain strong in the Rocky Mountain Region, contacts suggest moderating labor market tightness in the coming year. This Rocky Mountain Economist provides an overview of recent regional labor market conditions, and prospects for the regional labor market in 2024 reported by businesses throughout the region.
Rocky Mountain Economist , Volume 2024 , Issue 1

The Current Labor Market for Workers with a Disability
Rodgers, William M.; Ricketts, Lowell R. (2021-11-23)
People with disabilities can be a talent pool if employers reduce recruitment and workplace barriers.
On the Economy

Journal Article
The Employment Effect of an Increase in the National Minimum Wage: Review of International Evidence
Doh, Taeyoung; Van der Meer, Luca (2023-03-09)
Increasing the federal minimum wage gradually and steadily may help minimize negative employment effects.Recent U.S. proposals to increase the federal minimum wage from $7.25 per hour to $15 per hour have not yet come to fruition. One challenge in implementing minimum wage increases is estimating the potential effect on employment. Past increases in the federal minimum wage have been modest and are unlikely to provide much insight into employment effects. International experiences with large minimum wage increases may provide more insight by accounting for greater variation in firm exposure ...
Economic Review , Volume vol. 108 , Issue no. 2 , Pages 15

Journal Article
COVID-19 Containment Measures, Health and the Economy
Famiglietti, Matthew; Leibovici, Fernando (2021-02-19)
While COVID-19-related restrictions in 2020 spurred short-term rises in unemployment, states with stricter measures saw faster labor market recoveries.
The Regional Economist , Volume 29 , Issue 1

Speech
The Right Tools for Our Time
Williams, John C. (2022-05-10)
Remarks at NABE/Bundesbank International Economic Symposium Eltville am Rhein, Germany.
Speech

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