increase in economic policy uncertainty on unemployment in recessions and expansions. We find the response of unemployment to … be statistically and economically larger in recessions. A state-contingent forecast error variance decomposition analysis … in recessions. …

Although the adverse labor market effects of economic recessions have been well documented, a notable omission in the … literature is how recessions impact workers’ job match quality. This paper considers the short and longer-term losses in … productivity associated with the job changing brought in train by the two most recent recessions. Changes in match quality are the …

employer discrimination. In the presence of market frictions, however, recessions create excess labor supply and thus generate … recessions? We focus on age discrimination and test this hypothesis in two ways. We first use employee discrimination charges …

In recessions, unemployment increases despite the—perhaps counterintuitive—fact that the number of unemployed workers … unemployment fluctuations resting on this countercyclicality of gross flows from unemployment into employment. In recessions, the … losses from job displacement and from graduating during recessions, and the insensitivity of unemployment to labor market …

analytically and using a real-life empirical example of yield spread as a predictor of recessions. We show that false alarm rate in … quantify the extent to which ROC could be exaggerating the true predictive value of the yield curve in predicting recessions. …

which are typically followed by deeper recessions and slower recoveries. Housing finance has come to play a central role in …