This paper provides revealed-preference estimates of the monetary value of avoiding job search in a high-unemployment labor market by examining the behavior of military servicemembers deciding between reenlisting and exiting the military. We find that servicemembers would sacrifice 1.5-2% in...

This paper provides revealed-preference estimates of the monetary value of avoiding job search in a high-unemployment labor market by examining the behavior of military servicemembers deciding between reenlisting and exiting the military. We find that servicemembers would sacrifice 1.5-2% in...

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...

Using data from the 1984 to 1992 Displaced Worker Surveys, we find that black men fared much worse than white men at every stage of job displacement. For the period 1982 to 1991, black men experienced rates of job displacement that were 30 percent higher, reemployment rates that were 30 percent...

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...

We document the sources behind the costs of job loss over the business cycle using administrative data from Germany. Losses in annual earnings after displacement are large, persistent, and highly cyclical, nearly doubling in size during downturns. A large part of the long-term earnings losses...

The large-scale unemployment caused by the Great Recession has necessitated unprecedented increases in the duration of unemployment insurance (UI). While it is clear that the weekly payments are beneficial to recipients, workers receiving benefits have less incentive to engage in job search and...

This paper uses data from the General Customer Survey (GCS) to examine patterns of movement off the benefit system among recipients of Newstart Allowance and Parenting Payment. The analysis covers the first three waves of the GCS, which commenced in March 2000 and follows recipients after they...

The nexus between income and happiness is very much disputed. Many cross-sectional studies see a positive relationship, most longitudinal studies don't. Starting from the fact that the theoretical basis in happiness research has been comparatively weak, we develop a model that identifies...

A widely spread belief among economists is that monetary policy has relatively short-lived effects on real variables such as unemployment. Previous studies indicate that monetary policy affects the output gap only at business cycle frequencies, but the effects on unemployment may well be more...