Shimer (2005a) argues that the Mortensen-Pissarides equilibrium search model of unemployment explains only about 10% of the response in the job-finding rate to an aggregate productivity shock. Some of the recent papers inspired by his critique are reviewed and commented on here. Specifically, we...

The goal of this article is to summarize the main trends in the earnings and employment distribution in the United States using data drawn from the March Current Population Surveys covering the period between 1961 and 2002. We show that inequality started to increase for men in 1974, and for...

The use of fixed-term contracts has proliferated during the past decade in many European countries due to the relaxation of their regulation. Policymakers aimed to reduce labor-market rigidities by offering to firms these flexible contracts with little or no dismissal costs but with a finite...

Shimer (2005a) argues that the Mortensen-Pissarides equilibrium search model of unemployment explains only about 10% of the response in the job-finding rate to an aggregate productivity shock. Some of the recent papers inspired by his critique are reviewed and commented on here. Specifically, we...

In this report, we use Call Report data since 2015 to study the evolution of banks’ reliance on overdraft and NSF fees. Despite drops in overdraft/NSF fee reliance experienced by most banks during the pandemic, we find that the market for overdraft and NSF has been quite stable. Aggregate and...

This Data Point describes overdraft practices and outcomes at several thousand credit unions and banks in 2014 using data provided by core processors. While the data underlying the report are from a few years ago and may not always reflect current practices and outcomes, to our knowledge, these...

This report is an update to CFPB’s May 2020 report and December 2020 blog regarding the effects of COVID-19 on consumer credit applications, as reflected in credit report inquiries. It examines the different paths of recovery for different types of credit applications.Auto loan applications...