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AI and Jobs : Evidence from Online Vacancies
Acemoglu, Daron; Autor, David H.; Hazell, Jonathon; … - National Bureau of Economic Research - 2022 - Revised February 2022
We study the impact of AI on labor markets, using establishment level data on vacancies with detailed occupational information comprising the near-universe of online vacancies in the US from 2010 onwards. We classify establishments as "AI exposed" when their workers engage in tasks that are...
Persistent link: https://www.econbiz.de/10012482476
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Contingent Credit Under Stress
Acharya, Viral V.; Jager, Maximilian; Steffen, Sascha - National Bureau of Economic Research - 2023
Over the past two decades, banks have increasingly focused on offering contingent credit in the form of credit lines as a primary means of corporate borrowing. We review the existing body of research regarding the rationales for banks' provision of liquidity insurance in the form of credit...
Persistent link: https://www.econbiz.de/10014437040
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Crisis Risk and Risk Management
Stulz, René M. - National Bureau of Economic Research - 2023
This paper assesses the current state of knowledge about crisis risk and its implications for risk management. Better data that became available since the Global Financial Crisis (GFC) has improved our understanding of crisis risk. These data have been used to show that some types of crises...
Persistent link: https://www.econbiz.de/10014287353
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Debt Relief and Slow Recovery : A Decade after Lehman
Piskorski, Tomasz - 2018
We follow a representative panel of millions of consumers in the U.S. from 2007 to 2017 and document several facts on the long-term effects of the Great Recession. There were about six million foreclosures in the ten-year period after Lehman's collapse. Owners of multiple homes accounted for 25%...
Persistent link: https://www.econbiz.de/10012481050
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Employment Hysteresis from the Great Recession
Yagan, Danny - 2017
This paper uses U.S. local areas as a laboratory to test whether the Great Recession depressed 2015 employment. In full-population longitudinal data, I find that exposure to a 1-percentage-point-larger 2007-2009 local unemployment shock caused working-age individuals to be 0.4 percentage points...
Persistent link: https://www.econbiz.de/10012453867
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Debt Constraints and Employment
Kehoe, Patrick - 2016
During the Great Recession, regions of the United States that experienced the largest declines in household debt also experienced the largest drops in consumption, employment, and wages. Employment declines were larger in the nontradable sector and for firms that were facing the worst credit...
Persistent link: https://www.econbiz.de/10012456065
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Unemployment in the Great Recession : A Comparison of Germany, Canada and the United States
Hoffmann, Florian - 2014
This paper investigates the potential reasons for the surprisingly different labor market performance of the United States, Canada, Germany, and several other OECD countries during and after the Great Recession of 2008-09. Unemployment rates did not change substantially in Germany, increased and...
Persistent link: https://www.econbiz.de/10012457972
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Jobless Recoveries During Financial Crises : Is Inflation the Way Out?
Calvo, Guillermo - 2013
This paper discusses three policy tools to mitigate jobless recoveries during financial crises: inflation, real currency depreciation, and credit-recovery policies. Using a sample of financial crises in Emerging Market economies, we document that large inflationary spikes appear to help...
Persistent link: https://www.econbiz.de/10012458979
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Unemployment Benefits and Unemployment in the Great Recession : The Role of Macro Effects
Hagedorn, Marcus - 2013
Equilibrium labor market theory suggests that unemployment benefit extensions affect unemployment by impacting both job search decisions by the unemployed and job creation decisions by employers. The existing empirical literature focused on the former effect only. We develop a new methodology...
Persistent link: https://www.econbiz.de/10012459133
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The Employment Effects of State Hiring Credits During and After the Great Recession
Neumark, David - 2013
many cases adopting hiring credits to encourage employers to create new jobs. However, there is virtually no evidence on … the federal New Jobs Tax Credit in the 1970s. This paper provides evidence on the effects of state hiring credits on job … credits leading to churning of employees that raises the costs of producing jobs via hiring credits …
Persistent link: https://www.econbiz.de/10012459733