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Journal Article
Unemployment and its measurement : implications from a survey of long-term unemployment in Baltimore City

An abstract for this article is not available.
Economic Review , Volume 67 , Issue Sep , Pages 6-18

Discussion Paper
How Does Credit Access Affect Job-Search Outcomes and Sorting?

How does access to consumer credit affect the job finding behavior of displaced workers? Are these workers looking for jobs at larger and more productive firms? What is the impact of consumer credit on the amount of time it takes to find a job? In recent work with Ethan Cohen-Cole we explore these questions by building a new data set of individual credit reports (from TransUnion) merged with administrative earnings data. We describe our approach and our results in this post.
Liberty Street Economics , Paper 20200304d

Journal Article
Current labor market trends and inflation

Quarterly Review , Volume 12 , Issue Aut

Journal Article
Unemployment in Canada and the United States: the role of unemployment insurance benefits

Quarterly Review , Volume 14 , Issue Win

Aggregate supply and demand shocks: a natural rate approach.

There is wide agreement that the dynamics of inflation and unemployment are influenced by supply and demand shocks, such as oil price and monetary policy surprises, and by systematic factors such as overlapping contracts. There is less agreement about the relative importance of those determinants. The natural rate model of this paper uses a structural VAR approach to decompose movements in U.S. postwar unemployment and inflation into three orthogonal components. These components correspond, respectively, to systematic or predictable changes, supply shocks, and demand shocks. Orthogonality ...
Research Paper , Paper 9739

Unemployment in Canada and the U.S.: lessons from the 1980's

Research Paper , Paper 8911

Rethinking the role of NAIRU in monetary policy: implications of model formulation and uncertainty

In this paper we rethink the NAIRU concept and examine whether it might have a useful role in monetary policy. We argue that it can, but success depends critically on defining NAIRU as a short-run concept and distinguishing it from a long-run concept like the natural rate of unemployment. We examine what effect uncertainty has on the use of NAIRU in policy. Uncertainty about the level of NAIRU does not imply that monetary policy should react less to the NAIRU gap. However, uncertainty about the effect of the NAIRU gap on inflation does require adjustments to the policy reaction function. ...
Research Paper , Paper 9806

The national and regional economic outlook

Remarks at the University at Albany, Albany, New York.
Speech , Paper 70

Housing and the economic recovery

Remarks at the New Jersey Bankers Association Economic Forum, Iselin, New Jersey.
Speech , Paper 73

The national and regional economic outlook

Remarks at the Long Island Association, Melville, New York.
Speech , Paper 76



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Valletta, Robert G. 19 items

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