How do firms mitigate the impact of rising temperatures on employment? Using establishment-level data, we show that firms operating in multiple counties in the United States respond to heat shocks by reducing employment in the affected locations and increasing it in unaffected locations, whereas...

We explore the extent to which composition, duration dependence, and labor force non-participation can account for the sharp increase in the incidence of long-term unemployment (LTU) during the Great Recession. We first show that compositional shifts in demographics, occupation, industry,...

Over the past three decades, much research has attempted to identify the determinants of the natural rate of unemployment. The authors reach two main conclusions about this body of work. First, there has been considerable theoretical progress over the past thirty years. A framework emerged that...