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Journal Article
There are two sides to every (employment redistribution) story!

The Regional Economist , Issue Jan , Pages 17

Journal Article
Are small businesses the biggest producers of jobs?

It's often said that small businesses generate the most jobs in the U.S. This is true if one looks at the gross number of jobs. But because small businesses have a high failure rate, they are not the largest producer of jobs at the net level.
The Regional Economist , Issue Apr , Pages 8-9

Journal Article
Shocked, only not: false positive cases of employment decline

Fedgazette , Volume 17 , Issue Nov , Pages 8

Learning-by-employing: the value of commitment under uncertainty

We analyze commitment to employment in an environment in which an infinitely lived firm faces a sequence of finitely lived workers who differ in their ability to produce output. The ability of a worker is initially unknown to both the worker and the firm, and a worker's effort affects the information on ability that is conveyed by performance. We characterize equilibria and show that they display commitment to employment only when effort has a persistent but delayed impact on output. In this case, by providing insurance against early termination, commitment encourages workers to exert effort, ...
Staff Report , Paper 475

Working Paper
The dynamic effects of government spending shocks on employment and work hours

In this paper, we analyze the dynamic behavior of employment and hours worked per worker in a stochastic general equilibrium model with a matching mechanism between vacancies and unemployed workers. The model is estimated for the U.S. using the Generalized Methods of Moments (GMM) estimation technique. An increase in government spending raises hours worked per worker, and crowds out private consumption due to a negative wealth effect. On the path converging towards the steady state, private consumption is below its long run average and increases, which implies that the interest rate is above ...
Working Paper , Paper 98-09

Journal Article
County employment: shocks and rebounds

Lots of counties experience major job loss, but why they do and how well they recover is more of a mystery
Fedgazette , Volume 17 , Issue Nov , Pages 2, 4-5

Macro overview of the United States

Remarks at the European Economics and Financial Centre, London, England.
Speech , Paper 44

Challenges and prospects for Midwest manufacturing: report on the 2003–04 Chicago Fed Manufacturing Project

The Chicago Fed convened a series of conferences in 2003?04 to address the following three questions: What are the long-term underlying trends in manufacturing and have they fundamentally changed in recent years? Second, is the poor performance of recent years a transitory phenomenon? And, third, what are the challenges and prospects for Midwest manufacturing going forward?
Chicago Fed Letter , Issue Feb

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 Papers , Paper 1102

Journal Article
Job matching: evidence from the Beveridge curve

This Economic Letter examines the evidence on long-term shifts in the speed and efficiency of job matching in U.S. labor markets by using the so-called Beveridge curve. The Beveridge curve is an empirical measure of the relationship between the job vacancy rate and the unemployment rate. Changes in the job-matching process suggested by movements in the Beveridge curve, and their implications for U.S. labor market performance, have not been extensively analyzed, due in part to the absence of consistent data on job vacancies over a long time period. In this Economic Letter, we utilize new data ...
FRBSF Economic Letter



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Dudley, William 25 items

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