Some time ago, the Commerce Department changed the way it calculates real gross domestic product. In response to that change, this paper presents an update of a simple model that is used to predict the growth rate of current quarter real output based on available monthly data. After searching...

Little attention has been given to the link between variation in a firm's circumstances and the resolution of agency problems that pervade the relationship between a firm and its employees. We construct stochastic versions of standard efficiency-wage and performance-bonding models and find that...

An investigation of the 1990-91 recession's impact on blue- versus white-collar workers, showing that although blue-collar workers bore the brunt of the downturn, white-collar employment growth was unusually slow by historical standards.

This paper examines low-frequency movements in employment in a cross-section of industrialized countries for the period 1960–95, using both aggregate and disaggregated data. It documents nine stylized facts about cross-country variations in employment.

An examination of trends in employment and earnings in Ohio and the rest of the country between 1973 and 1984, looking especially at the roles of unionization and the exchange value of the dollar.