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Diamond, Peter A.; Sahin, Aysegul - Federal Reserve Bank of New York - 2014

has not been a good predictor of whether the unemployment rate at the end of the expansion following a shift was higher or …

Persistent link: https://www.econbiz.de/10010890134

Why did the average duration of unemployment become so much longer?

Mukoyama, Toshihiko (contributor); … - 2004 - [Elektronische Ressource]

institutional changes can only partially account for the longer duration of unemployment. We construct a job search model and …"This paper examines the causes of the observed increase in the average duration of unemployment over the past thirty … calibrate it to U.S. data. The results indicate that more than 70 percent of the increase in the duration of unemployment over …

Persistent link: https://www.econbiz.de/10002521759

Job search behavior over the business cycle

Mukoyama, Toshihiko; Sahin, Aysegul; Patterson, Christina - Federal Reserve Bank of New York - 2014

We create a novel measure of job search effort starting in 1994 by exploiting the overlap between the Current … Population Survey and the American Time Use Survey. We examine the cyclical behavior of aggregate job search effort using time …

Persistent link: https://www.econbiz.de/10010890133

The over-the-counter theory of the fed funds market: a primer

Afonso, Gara M.; Lagos, Ricardo - Federal Reserve Bank of New York - 2014

We present a dynamic over-the-counter model of the fed funds market, and use it to study the determination of the fed funds rate, the volume of loans traded, and the intraday evolution of the distribution of reserve balances across banks. We also investigate the implications of changes in the...

Persistent link: https://www.econbiz.de/10010751389