This article studies simultaneous changes in four labor market variables: the unemployment rates for college and high-school graduates, the education wage premium, and the level of college participation. It develops an equilibrium search and matching model of the labor market where education is...

Our answer: not so well. We reach that conclusion after reviewing recent research on the role of technology as a source of economic fluctuations. The bulk of the evidence suggests a limited role for aggregate technology shocks, pointing instead to demand factors as the main force behind the...

I analyze how visa policies affect international students' transition to the U.S. labor market. The Optional Practical Training (OPT) program permits international students to work via a student visa for a limited period after graduation before obtaining a work visa—an uncertain process due to...