Proceedings of a Conference Cosponsored by the Canadian Consulate General in New York, the Centre for the Study of Living Standards, the Federal Reserve Bank of New York, and the New York Association for Business Economics.

These articles were presented at a conference in December 2004, convened to consider the disparity in job growth between the United States and Canada-namely, while the United States was struggling to create jobs, the number of Canadian jobs was increasing. The conference was cosponsored by the...

The authors describe how evidence on aggregate job flows challenges standard business cycle theory and discuss recent developments in business cycle theory aimed at accounting for the evidence.

While maximum unemployment rates following the most recent economic recession are low by historical standards, the lack of increase in payroll employment leads many to conclude that official unemployment rates understate current labor market weakness. This article compares other labor market...

During the typical recovery from U.S. post-War period economic downturns, employment recovers to its pre-recession level within months of the output trough. However, during the last two recoveries, employment has taken up to two years to achieve its pre-recession benchmark. We propose a formal...

The authors examine the optimal labor market-policy mix over the business cycle. In a search and matching model with risk-averse workers, endogenous hiring and separation, and unobservable search effort they first show how to decentralize the constrained-efficient allocation. This can be...

In this article I provide a perspective on the current state of modern business cycle theory. This theory has developed from an application of the Arrow-Debreu general equilibrium framework to the neoclassical growth model. On the positive side, this approach is able to accommodate various...

Remarks by President Dudley at the Quarterly Regional Economic Press Briefing, New York City.

Related links: http://www.richmondfed.org/publications/research/region_focus/2012/q2-3/cover_weblinks.cfm>

We use novel high-frequency panel data on individuals' job applications from an online job posting engine to study (1) whether at the beginning of search job seekers with different levels of education (skill) apply to different jobs, and (2) how search behavior changes as search continues....