The recent financial crisis and ensuing recession appear to have put the productive capacity
of the economy on a lower and shallower trajectory than the one that seemed to be in place …

Background The COVID-19 pandemic has had a range of negative social and economic
effects that may contribute to a rise in mental health problems. In this observational …

We evaluate explanations for the absence of disinflation during the Great Recession and
find popular explanations to be insufficient. We propose a new explanation for this puzzle …

We review the main distributional effects of the Great Recession and the ways in which
those effects have been organized into narratives. The Great Recession may affect poverty …

When we look back at the 1990s, from the perspective of say 2010,...[w] e may conceivably
conclude... that, at the turn of the millennium, the American economy was experiencing a …

Job polarization refers to the recent shrinking concentration of employment in occupations in
the middle of the skill distribution. Jobless recoveries refers to the slow rebound in …

We develop a framework where mismatch between vacancies and job seekers across
sectors translates into higher unemployment by lowering the aggregate job-finding rate. We …

Unemployment is high when financial discounts are high. In recessions, the stock market
falls and all types of investment fall, including employers' investment in job creation. The …

ABSTRACT The Phillips Curve (hereafter PC) is widely viewed as dead, destined to the
mortuary scrapyard of discarded economic ideas. The coroner's evidence consists of the …

This paper provides a survey of business cycle facts, updated to take account of recent data.
Emphasis is given to the Great Recession, which was unlike most other postwar recessions …