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Asset Prices and Unemployment Fluctuations : A Resolution of the Unemployment Volatility Puzzle
Kehoe, Patrick J.; Lopez, Pierlauro; Midrigan, Virgiliu; … - National Bureau of Economic Research - 2022
Recent work has demonstrated that existing solutions of the unemployment volatility puzzle are at odds with the …. Our model reproduces the observed fluctuations in unemployment because hiring a worker is a risky investment with long … therefore greatly declines, leading to a large decrease in job vacancies and an increase in unemployment of the same magnitude …
Persistent link: https://www.econbiz.de/10012938763
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The Role of Childcare Challenges in the US Jobs Market Recovery During the COVID-19 Pandemic
Furman, Jason; Kearney, Melissa Schettini; Powell, Wilson - National Bureau of Economic Research - 2021
We examine how much of the overall decline in employment between the beginning of 2020 and 2021 can be explained by excess job loss among parents of young children, and mothers specifically. Using data from the Current Population Survey (CPS), we confirm that, in general, mothers with young...
Persistent link: https://www.econbiz.de/10012585418
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Work Incentive Effects of Taxing Unemployment Benefits
Solon, Gary - 1984
Before 1979, unemployment insurance (UI) benefits were not treated as taxable income in the United States. Several … has had the predicted effect of reducing unemployment duration.The study uses data on a sample of persons that filed for … presents persuasive evidence of a tax effect on unemployment duration. The 1979 policy change is estimated to have reduced …
Persistent link: https://www.econbiz.de/10012477837
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The Added-Worker Effect : A Reappraisal
Lundberg, Shelly J. - 1981
states of employment, unemployment, and non-participation. The determinants of actual household transitions are then … functions show that increased unemployment among married men has a sizeable short-run effect on both participation and …
Persistent link: https://www.econbiz.de/10012478409
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Does Labor Supply Matter During a Recession? Evidence from the Seasonal Cycle
Mulligan, Casey B. - 2010
Every year has large demand and supply shifts associated with the seasons, regardless of the phase of the business cycle. Based on measures dating back to the 1940s, the seasonal shifts reject the hypotheses that demand shifts affect employment outcomes significantly more in recession years than...
Persistent link: https://www.econbiz.de/10012462299
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A Patchwork Safety Net : A Survey of Cliometric Studies of Income Maintenance Programs in the United States in the First Half of the Twentieth Century
Fishback, Price V. - 2010
Social welfare programs in the United States are designed to serve as safety nets for people in hard times, in contrast with the universal approach found in many other developed western nations. In a survey of Cliometric studies of social welfare programs in the U.S., we examine the variation in...
Persistent link: https://www.econbiz.de/10012462956
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Aggregate Implications of Labor Market Distortions : The Recession of 2008-9 and Beyond
Mulligan, Casey B. - 2010
The aggregate neoclassical growth model - with a labor income tax or "labor market distortion" that began growing at the end of 2007 as its only impulse - produces time series for aggregate labor usage, consumption, investment, and real GDP that closely resemble actual U.S. time series. Of...
Persistent link: https://www.econbiz.de/10012462971
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A Three State Model of Worker Flows in General Equilibrium
Krusell, Per - 2009
We develop a simple model featuring search frictions and a nondegenerate labor supply decision along the extensive margin. The model is a standard version of the neoclassical growth model with indivisible labor with idiosyncratic shocks and frictions characterized by employment loss and...
Persistent link: https://www.econbiz.de/10012463398
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Wage Risk and Employment Risk over the Life Cycle
Low, Hamish - 2009
productivity risk is greater than the value of unemployment insurance which provides (partial) insurance against employment risk …
Persistent link: https://www.econbiz.de/10012463747
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Minimally Altruistic Wages and Unemployment in a Matching Model
Rotemberg, Julio J. - 2008
This paper presents a model in which firms recruit both unemployed and employed workers by posting vacancies. Firms act monopsonistically and set wages to retain their existing workers as well as to attract new ones. The model differs from Burdett and Mortensen (1998) in that its assumptions...
Persistent link: https://www.econbiz.de/10012464892