Advances in the relative labor market position of black men stagnated in the 1980s, after nearly four decades of steady improvement. The structural change of the early 1980s was particularly costly for black men. Past research shows that black men faced a substantially higher risk of job...

Advances in the relative labor market position of black men stagnated in the 1980s, after nearly four decades of steady improvement. The structural change of the early 1980s was particularly costly for black men. Past research shows that black men faced a substantially higher risk of job...

This paper demonstrates the important role of job displacement in the household bankruptcy decision. I develop a dynamic, forward-looking model of unemployment and bankruptcy where persistent negative income shocks increase a household's likelihood of filing for bankruptcy both immediately and...

Does household leverage matter for worker job search, matching in the labor market, and wages? Theoretically, household leverage can have opposing effects on the labor market through debt-overhang and liquidity constraint channels. To test which channel dominates empirically, we exploit the...