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Newsletter
How does labor adjustment in this recession compare with the past?
Brave, Scott; Aaronson, Daniel (2009-06)
The authors examine how firms are adjusting their work force during the current recession in comparison with other recessions over the past 40 years.
Chicago Fed Letter , Issue Jun

Working Paper
Downward Nominal Wage Rigidity in the United States During and After the Great Recession
Wascher, William L.; Fallick, Bruce; Villar Vallenas, Daniel (2020-05-15)
Rigidity in wages has long been thought to impede the functioning of labor markets. In this paper, we investigate the extent of downward nominal wage rigidity in US labor markets using job-level data from a nationally representative establishment-based compensation survey collected by the Bureau of Labor Statistics. We use several distinct methods to test for downward nominal wage rigidity and to assess whether such rigidity is less or more severe in the presence of negative economic shocks than in more normal economic times. We find a significant amount of downward nominal wage rigidity in ...
Finance and Economics Discussion Series , Paper 2016-001r1

Journal Article
Recession year
Levy, Yvonne; Burke, William (1981)
FRBSF Economic Letter

Journal Article
Recovery isn't as easy as in the past
Kliesen, Kevin L. (2002-07)
The Regional Economist , Issue Jul. , Pages 19-19

Journal Article
Earnings losses of job losers during the 2001 economic downturn
Rao, Vilas; Fujita, Shigeru (2009-10)
Job losses may involve not only lost earnings during unemployment but also declines in earnings at subsequent jobs. After a time consuming job search, workers may need to restart their careers from scratch, accepting a lower wage. Workers may also need time to acquire new skills, and total earnings lost during such a period of re-adjustment can be considerable. But experiences may vary widely. In this article, using a novel data set, Shigeru Fujita and Vilas Rao provide evidence on earnings losses after unemployment. Although the usefulness of the evidence is limited by the short sample ...
Business Review , Issue Q4 , Pages 1-9

Journal Article
1975 - year of economic turmoil
Bowsher, Norman N. (1976-01)
Review , Volume 58 , Issue Jan , Pages 2-8

Speech
The current state of the economy and a look to the future (with reference to William 'Sidestroke' Miles, W. Somerset Maugham, Don Ameche and Kenneth Arrow)
Fisher, Richard W. (2009)
Remarks before the Austin Headliners Club, Austin, Texas, November 10, 2009 ; "The Federal Reserve has done what it can to prevent Depression 2.0 and the deflation that one would have expected might accompany economic collapse. It will take some time, in my opinion, to get back on a steady pathway to a pace of growth that will result in significant job creation. We are in for a long slog. We had a snapback in growth in the third quarter and can expect that will continue in the current quarter. But looking into 2010 and perhaps to 2011, the most likely outcome is for growth to be suboptimal, ...
Speeches and Essays , Paper 3

Speech
Macro overview of the United States
Cumming, Christine M. (2011)
Remarks at the European Economics and Financial Centre, London, England.
Speech , Paper 44

Journal Article
When the Economy Goes South
Katz, Jane (1999-07)
Regional Review , Volume 9 , Issue Q3 , Pages 24-31

Journal Article
The recession, the recovery, and the productivity slowdown
Cogley, Timothy (1993)
FRBSF Economic Letter

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