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which the labor market is now only slowly recovering. The unemployment rate remains stubbornly high and durations of … unemployment are unprecedentedly long. I use data from the Displaced Workers Survey (DWS) from 1984-2010 to investigate the …
Persistent link: https://www.econbiz.de/10013125172
-displacement earnings if displaced in mass-layoff events that occur when the national unemployment rate is below 6 percent. They lose a … staggering 2.8 years of pre-displacement earnings if displaced when the unemployment rate exceeds 8 percent. These results … opportunities respond to contemporaneous economic conditions. Finally, we confront leading models of unemployment fluctuations with …
Persistent link: https://www.econbiz.de/10013067062
occupations and industries can explain a sizeable portion of the gender, race, and ethnic gaps in recent unemployment. However …
Persistent link: https://www.econbiz.de/10012834460
dynamics in the tradition of Mortensen and Pissarides (1994). Our estimates discern 5 distinct types. Most unemployment comes … from just two of those types. Low employment types frequently circle among unemployment, short-term jobs, and being out of … the labor market. Short-term jobs play a role in the job-finding process related to the role of unemployment. These are …
Persistent link: https://www.econbiz.de/10012891313
Nominal stock prices are arbitrary. Therefore, when evaluating how a piece of news should affect the price of a stock, rational investors should think in percentage rather than dollar terms. However, dollar price changes are ubiquitously reported and discussed. This may both cause and reflect a...
Persistent link: https://www.econbiz.de/10012872301
We propose a new business cycle theory. Firms need to randomize over firing or keeping workers who have performed poorly in the past, in order to give them an ex-ante incentive to exert effort. Firms have an incentive to coordinate the outcome of their randomizations, as coordination allows them...
Persistent link: https://www.econbiz.de/10013011450
accessibility to appropriate jobs should shorten the duration of unemployment. We focus on lower-income workers with strong labor …
Persistent link: https://www.econbiz.de/10013054875
We measure the changing efficacy of neighborhood-based labor market networks, across the business cycle, in helping displaced workers become re-employed, focusing on the periods before, during, and just after the Great Recession. Networks can only be effective when hiring is occurring, and...
Persistent link: https://www.econbiz.de/10013021029
The Great Recession from December 2007 to June 2009 is associated with a dramatic weakening of the labor market from which, by some measures, it has not completely recovered. I use data from the Displaced Workers Survey (DWS) from 1984-2014 to investigate the incidence and consequences of job...
Persistent link: https://www.econbiz.de/10013021879
We argue that firms' balance sheets were instrumental in the propagation of shocks during the Great Recession. Using establishment-level data, we show that firms that tightened their debt capacity in the run-up to the Great Recession (“highleverage firms”) exhibit a significantly larger...
Persistent link: https://www.econbiz.de/10013024499