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

In recessions, unemployment increases despite the - perhaps counterintuitive - fact that the number of unemployed … recessions, the abundance of new hires "congests" the jobs the unemployed fill, diminishes their marginal product and discourages … excess earnings losses from job displacement and from graduating during recessions, and the insensitivity of unemployment to …

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 …

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. …

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. …