U.S. CPS gross flows data indicate that in recessions firms actually increase their hiring rates from the pools of the unemployed and out of the labor force. Why so? The paper provides an explanation by studying the optimal recruiting behavior of the representative firm. This behavior is a...

Ethnic minority men find it harder to obtain good jobs in the UK labour market than White British men. Over time, while the very high unemployment rates experienced by some non-white ethnic groups have significantly declined and their share of good jobs has grown, their share of bad jobs has...

Remarks at the Quarterly Regional Economic Press Briefing, New York City.

Remarks at the Quarterly Regional Economic Press Briefing, New York City.

We show that the inability of a standardly-calibrated stochastic labor search-and-matching model to account for the observed volatility of unemployment and vacancies extends beyond U.S. data to a set of OECD countries. We also argue that using cross-country data is helpful in evaluating the...

Using a large panel of administrative records this study confirms the predictions of the ranking model of Blanchard and Diamond (1994) that an individual?s probability of leaving unemployment decreases with unemployment duration and increases with economic growth. However, the ranking model of...

This study examines individuals? unemployment experiences from the age of 18 up to the age of 35 using a large panel of administrative records on unemployment related benefit claims of men in the United Kingdom over the past two decades. The main focus is on the extent to which individuals?...

This paper estimates the effects of tax changes on the U.K. economy. Identification is achieved by isolating the 'exogenous' tax policy shocks in the post-war U.K. economy using a narrative strategy as in Romer and Romer (2010). The resulting tax changes are shown to be unforecastable on the...

We study individual job-separations and their associated destination states for all individuals in the private sector in Denmark for the period 1980 to 1995 and account for the cyclical flows. We find that individual and workplace characteristics as well as business cycle effects are important...

We apply Diebold-Yilmaz spillover index methodology to monthly industrial production indices to study business cycle interdependence among G-6 industrialized countries since 1958. The business cycle spillover index fluctuates substantially over time, increasing especially after the 1973-75,...