The economic crisis associated with the emergence of the novel corona virus is unlike
standard recessions. Demand for workers in high contact and inflexible service occupations …

The economic crisis associated with the emergence of the novel corona virus is unlike
standard recessions. Demand for workers in high contact and inflexible service occupations …

We propose a new method for computing equilibria in heterogeneous-agent models with
aggregate uncertainty. The idea relies on an assumption that linearization offers a good …

Conventional analyses of labor market fluctuations ascribe a minor role to labor force
participation. We show, by contrast, that flows-based analyses imply that the participation …

Important progress has been made in economists' understanding of the Beveridge curve,
from its measurement to its expression in canonical labor market models. Yet enduring …

The financial crisis and ensuing Great Recession left the US economy in an injured state. In
2013, output was 13% below its trend path from 1990 through 2007. Part of this shortfall …

Unemployment rates differ widely across local labor markets. I offer new empirical evidence
that high local unemployment emerges because of elevated local job-losing rates. Local …

The gender unemployment gap, the difference between female and male unemployment
rates, was positive until the early 1980s. This gap disappeared after 1983, except during …

Should the generosity of unemployment benefits and the progressivity of income taxes
depend on the presence of business cycles? This paper proposes a tractable model where …

We measure the aggregate effect of unemployment benefit duration on employment and the
labor force. We exploit the variation induced by Congress' failure in December 2013 to …