A substantial empirical literature documents large and persistent average earnings losses following job displacement. Our paper extends the literature on displaced workers by providing a comprehensive picture of earnings and employment outcomes for all workers who separate. We show that for...

The earnings of workers are reduced for many years after being displaced from their jobs, and those workers and their families face increased risk of other problems as well. The ills suffered by displaced workers motivated several recent expansions of government programs, including the...

This paper describes a dynamic factor model of 19 U.S. labor market indicators, covering the broad categories of unemployment and underemployment, employment, workweeks, wages, vacancies, hiring, layoffs, quits, and surveys of consumers' and businesses' perceptions. The resulting labor market...

Who is harmed by and who benefits from worker reallocation? We investigate the earnings consequences of changing jobs and find a wide dispersion in outcomes. This dispersion is driven not by whether the worker was displaced, but by the duration of joblessness between job spells. Job movers who...

In Silicon Valley's computer cluster, skilled employees are reported to move rapidly between competing firms. This job-hopping facilitates the reallocation of resources towards firms with superior innovations, but it also creates human capital externalities that reduce incentives to invest in...

We estimate trend unemployment rates for Ohio, Pennsylvania, Kentucky, and West Virginia, states that span parts of the Fourth District of the Federal Reserve System. Our estimated unemployment rate trend for the District as a whole stood at 5.7 percent in 2020:Q1 compared to a 4.7 percent...

This article explores the question of whether unionization influences the decision of a firm to merge with another firm. We combine merger data, taken from COMPUSTAT, with firm-specific union data obtained from several sources. An econometric matching model allows us to isolate the effects of...

This paper summarizes recent empirical work on displaced workers. Although widely distributed, displacement is strongly counter cyclical and concentrated in less-educated occupations and in industries and states doing relatively poorly. There has been a shift toward plant closings and more...

This paper explores the question of whether unionization influences the decision of a firm to merge with another firm. We combine merger data, taken from COMPUSTAT, with firm-specific union data obtained from several sources. An econometric matching model allows us to isolate the effects of...