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At the onset of the COVID pandemic, the U.S. economy suddenly and swiftly lost 20 million jobs. Over the next two years, the economy has been on the recovery path. We assess the labor market two years into the COVID crisis. We show that early employment dynamics were almost entirely driven by...
Persistent link: https://www.econbiz.de/10013362041
picking up. Unemployment remained high and employment rates were low, especially among women, the young and older workers. The …
Persistent link: https://www.econbiz.de/10012304424
We introduce dynamic incentive contracts into a model of unemployment dynamics and present three results. First, wage … cyclicality from incentives does not dampen unemployment dynamics: the response of unemployment to shocks is first … cyclicality from bargaining dampens unemployment dynamics through the standard mechanism. Third, our calibrated model suggests 46 …
Persistent link: https://www.econbiz.de/10014372479
education are unequally distributed. Adequate funding for education institutions is not assured everywhere while inefficiencies …
Persistent link: https://www.econbiz.de/10011392839
may also help to prevent a larger increase in unemployment during crisis periods. …
Persistent link: https://www.econbiz.de/10009696076
We document a clear downward trend in labor market fluidity that is common across a variety of measures of worker and job turnover. This trend dates to at least the early 1980s if not somewhat earlier. Next we pull together evidence on a variety of hypotheses that might explain this downward...
Persistent link: https://www.econbiz.de/10011499762
cohesive society. In Italy, the various deficiencies of the labour market have resulted in high unemployment, low labour force …-designed institutions, not only labour market policies but also the education system and product market regulation, would encourage higher …
Persistent link: https://www.econbiz.de/10011399701
We develop an equilibrium model of on-the-job search with ex-ante heterogeneous workers and firms, aggregate uncertainty and vacancy creation. The model produces rich dynamics in which the distributions of unemployed workers, vacancies and worker-firm matches evolve stochastically over time. We...
Persistent link: https://www.econbiz.de/10009785890
tracking their job mobility rate, unemployment rate, income growth, population increase, net change in job-to-job mobility and …
Persistent link: https://www.econbiz.de/10012421218
Job mobility is essential for a well-functioning market economy and for individual workers to boost their wages. This paper provides a re-assessment of job mobility in the United States during 2000-2018, based on a novel administrative data source covering almost all workers and job flows....
Persistent link: https://www.econbiz.de/10012421248