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Journal Article
Is umemployment too low? How welfare reform and technology are creating a new employment standard

Southwest Economy , Issue Nov , Pages 5-8

Will the financial crisis have a lasting effect on unemployment?

To understand Fed policy at this point, you have to look at this whole picture. We have good GDP growth, but a yawning shortfall of employment and output from potential levels. ; Presentation to the Chicago Booth Graduate School of Business Alumni Club of San Francisco, San Francisco, Ca, February 22, 2011
Speech , Paper 83

Working Paper
What drives movements in the unemployment rate? a decomposition of the Beveridge curve

This paper presents a framework to interpret movements in the Beveridge curve and analyze unemployment fluctuations. We decompose the unemployment rate into three main components: (1) a component driven by changes in labor demand--movements along the Beveridge curve and shifts in the Beveridge curve due to layoffs--(2) a component driven by changes in labor supply--shifts in the Beveridge curve due to quits, movements in-and-out of the labor force and demographics--and (3) a component driven by changes in the efficiency of matching unemployed workers to jobs. We find that cyclical movements ...
Finance and Economics Discussion Series , Paper 2010-48

Journal Article
Youth unemployment and the transition from school to work: programs in Boston, Frankfurt, and London

New England Economic Review , Issue Mar , Pages 3-16

Have a nice day! The American journey to better working conditions

Annual Report

Journal Article
Extended unemployment in California

FRBSF Economic Letter

Assessing the impact of job loss on workers and firms

Many economists agree that the United States? openness to competition and technological change raises our living standards, but sometimes results in job losses. This article summarizes ?Job Loss: Causes, Consequences, and Policy Responses,? a conference which was cosponsored by the Federal Reserve Bank of Chicago and the Joyce Foundation.
Chicago Fed Letter , Issue Apr

Working Paper
Search, self-insurance and job-security provisions

We construct a general equilibrium model to evaluate the quantitative effects of severance payments in the presence of contracting and reallocational frictions. Key elements of the model are: 1) establishment level dynamics, 2) imperfect insurance markets, and 3) variable search decisions. Contrary to previous studies that analyzed severance payments in frictionless environments, we find that severance payments reduce unemployment, produce negative insurance effects and improve levels.
Working Paper Series , Paper WP-98-2

Discussion Paper
Skills Mismatch, Construction Workers and the Labor Market

Recessions and recoveries typically have been times of substantial reallocation in the economy and the labor market, and the current cycle does not appear to be an exception. The speed and smoothness of reallocation depend in part on the structure of the labor market, particularly the degree of mismatch between the characteristics of available workers and newly available jobs. Such mismatches could occur because of differences in skills between workers and jobs (skills mismatch) or because of differences in the location of the available jobs and available workers (geographic mismatch). In ...
Liberty Street Economics , Paper 20120329

Journal Article
A closer look at the German labor market 'miracle'

Compared with the steep, persistent increase in unemployment that the Great Recession triggered in the United States, its effect on unemployment in Germany was surprisingly mild. While U.S. unemployment soared from 4.8 percent to 9.5 percent between the fourth quarter of 2007 and the fourth quarter of 2010, the German unemployment rate actually fell from 7.6 percent to 6.4 percent over the same period (Figure 1).1 The marked contrast may make one wonder whether the magnitude of the recession itself was smaller in Germany. Actually, the severity of the recession as measured by the drop in ...
Business Review , Issue Q4 , Pages 16-24



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