At the onset of the COVID pandemic, the U.S. economy suddenly and swiftly lost 20 million jobs. Over the next two years, the economy has been on the recovery path. We assess the labor market two years into the COVID crisis. We show that early employment dynamics were almost entirely driven by...

We develop a dynamic macroeconomic framework with worker heterogeneity, putty-clay adjustment frictions, and firm monopsony power to study the distributional impact of labor market policies over time. Our framework reconciles the well-known tension between low short-run and high long-run...

We examine changes in the spatial distribution of good jobs across US commuting zones over 1980-2000 and 2000-2021. We define good jobs as those in industries in which full-time workers attain high wages, accounting for individual and regional characteristics. The share of good jobs in...

The process of development is accompanied by marked changes in the structure of the labor market. We lay out a broad set of stylized features that distinguish developing country labor markets from those in richer countries. We organize our review around one particularly striking difference: in...

What is the effect of immigration on native labor-market outcomes? An extensive literature identifies the differential impact of immigration on natives employed in jobs that are more exposed to immigrant labor (supply exposure). But immigrants consume in addition to producing output. Despite...

We study the role of job transitions and firm pay policies in the Black-White earnings gap in the US. We use administrative data for the universe of employer-employee matches from 2005-2019 to analyze worker mobility in a general but tractable framework, which allows for firm effects that depend...

There is a consensus that there is an earnings premium for licensed workers relative to unlicensed workers. However, little is known about how occupational licensing affects earnings inequality. In this paper, we study dynamic, heterogeneous earnings effects of occupational licensing and draw...

We introduce aggregate shocks to workers' value of job amenities in a frictional equilibrium model of the labor market with on-the-job search, where the job creation cost is sunk and quits trigger vacancies. We examine how key labor market indicators respond to this shock: when the valuation of...

We develop a procedure for adjudicating between models of firm wage-setting conduct. Using data from a U.S. job search platform, we propose a methodology to aggregate workers' choices over menus of jobs into rankings of firms' non-wage amenities. We use these estimates to formulate a test of...

Most S&P 500 corporations disclose that their profits depend on non-wage competition for worker talent via workplace amenities like work-life balance. We quantify this dependence using a labor market matching model with endogenous amenities. When productive (unproductive) firms provide the...