New firm formation is a critical driver of job creation, and an important contributor to the responsiveness of the economy to aggregate shocks. In this paper we examine the characteristics of the individuals who become entrepreneurs when local opportunities arise due to an increase in local...

This paper uses a life-cycle framework to document new stylized facts about the nexus between job polarization and earnings inequality. Using quarterly labor force data for the UK over the period 2000-2018, we find clear life-cycle profiles in the probability of being employed within each...

While the Korean unemployment rates are currently among the lowest in OECD countries, the labor market duality and the underemployment in some segments of the population are important labor market challenges, and factors contributing to lower potential growth. The paper shows the benefits of...

Uruguay enjoys favorable social outcomes, and its labor indicators are comparable to other Latin American countries, but its youth unemployment is one of the highest in the world. To help understand this duality, we employ synthetic panels from repeated household surveys for LA6 countries from...

This paper examines publicly listed Chilean firms' performance during the 2008-09 crisis. In particular, it studies the effects from changes in external financing conditions, aggregate demand, and international trade on firms' investment, sales, and profits, using firm-specific characteristics...

This paper provides a simple, quantitative, net worth-based, approach to assessing the need for central bank capital. It derives a concept of core capital (a function of the central bank`s operating expenditures and the carrying cost of its international reserves) as the minimum capital needed...