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Labor Force Participation and Monetary Policy in the Wake of the Great Recession
Erceg, Christopher J. - 2014
In this paper, we provide compelling evidence that cyclical factors account for the bulk of thepost-2007 decline in the U.S. labor force participation rate. We then proceed to formulate astylized New Keynesian model in which labor force participation is essentially acyclical during“normal...
Persistent link: https://www.econbiz.de/10013061162
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Wage-Price Dynamics and Structural Reforms in Japan
Porcellacchia, Davide - 2016
-play in generating unfavorable wage-price dynamics. The model allows a discussion of whether and in what form structural …
Persistent link: https://www.econbiz.de/10012996094
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Are Labor Market Indicators Telling the Truth? Role of Measurement Error in the U.S. Current Population Survey
Shibata, Ippei - 2019
Labor market indicators are critical for policymakers, but measurement error in labor force survey data is known to be substantial. In this paper, I quantify the implications of classification errors in the U.S. Current Population Survey (CPS), in which respondents misreport their true labor...
Persistent link: https://www.econbiz.de/10012889152
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Market Reforms at the Zero Lower Bound
Cacciatore, Matteo - 2017
the implications of reduced-form modeling of product and labor market reformsas exogenous reductions in price and wage …
Persistent link: https://www.econbiz.de/10012944956
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Output Gap in Presence of Financial Frictions and Monetary Policy Trade-Offs
Furlanetto, Francesco - 2014
-off between nominal and real stabilization; optimal monetary policy significantly reduces fluctuations in price and wage …
Persistent link: https://www.econbiz.de/10013049145
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A New Claims-Based Unemployment Dataset : Application to Postwar Recoveries Across U.S. States
Fieldhouse, Andrew; Howard, Sean; Koch, Christoffer; … - 2022
Using newly digitized unemployment insurance claims data we construct a historical monthly unemployment series for U.S. states going back to January 1947. The constructed series are highly correlated with the Bureau of Labor Statics' state-level unemployment data, which are only available from...
Persistent link: https://www.econbiz.de/10014081630
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Did the COVID-19 Recession Increase the Demand for Digital Occupations in the United States? Evidence from Employment and Vacancies Data
Soh, Jiaming; Oikonomou, Myrto; Pizzinelli, Carlo; … - 2022
This paper investigates whether the COVID-19 recession led to an increase in demand for digital occupations in the United States. Using O*NET to capture the digital content of occupations, we find that regions that were hit harder by the COVID-19 recession experienced a larger increase in the...
Persistent link: https://www.econbiz.de/10014244425
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Understanding U.S. Wage Dynamics
Abdih, Yasser - 2018
In this paper, we undertake empirical analysis to understand U.S. wage behavior since thebeginning of the new …. The modelreveals that the upward pressure on wage growth from recent tightening in the labormarket has been dampened by a … appear to play a role illustrating why it is difficult to single out any oneculprit for the observed wage growth moderation …
Persistent link: https://www.econbiz.de/10012913885
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What's Up with U.S. Wage Growth and Job Mobility?
Danninger, Stephan - 2016
Since the global financial crisis, US wage growth has been sluggish. Drawing on individual earnings data from the 2000 … workers - slowed down real wage growth. There are, however, also signs of structural changes in the labor market affecting … wages: for full-time, full-employed workers, the Wage-Phillips curve - the empirical relationship between wage growth and …
Persistent link: https://www.econbiz.de/10012977830
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Unemployment and endogenous reallocation over the business cycle
Carrillo-Tudela, Carlos; Visschers, Ludo - 2013
We build an analytically and computationally tractable stochastic equilibrium model of unemployment in heterogeneous labor markets. Facing search frictions within markets and reallocation frictions between markets, workers endogenously separate from employment and endogenously reallocate between...
Persistent link: https://www.econbiz.de/10010291522