This paper establishes a new fact about the compositional changes in the pool of unemployed over the U.S. business cycle and evaluates a number of theories that can potentially explain it. Using micro-data from the Current Population Survey for the years 1962-2011, it documents that in...

This case study analyzes the effectiveness of the downsizing strategy in the Telefonica through the Event Study method. An event study is designed to examine market reactions to excess returns around specific information events. The information events can be market-wide, such as macroeconomic...