We develop a dynamic trade model with spatially distinct labor markets facing varying
exposure to international trade. The model captures the role of labor mobility frictions, goods …

How does the US labor market absorb low-skilled immigration? In the short run, high-
immigration locations see their low-skilled labor force increase, native low-skilled wages …

We revisit an old question: does industry labor reallocation affect the business cycle? Our
empirical methodology exploits variation in a local labor market's exposure to industry …

This paper develops an open-economy heterogeneous-agent New Keynesian model in
which households differ in their income, wealth, and real and financial integration with …

This paper studies the extent to which the cyclicality of occupational mobility shapes that of
aggregate unemployment and its duration distribution. We document the relation between …

The impact of the pandemic on the UK labour market has been extremely heterogeneous
across occupations and industries. Using novel data on job search, we document how …

A substantial fraction of workers are underemployed, ie, employed in jobs for which they are
overqualified, and that fraction—the underemployment rate—is higher in recessions. To …

We investigate unemployment due to mismatch in the United States over the past three and
a half decades. We propose an accounting framework that allows us to estimate the …

Vacancies are the key equilibrium margin in canonical theories of unemployment,
describing employers' job creation. The point of this paper is that vacancies can also arise …

In this paper, I quantify the contribution of occupation-specific shocks and skills to
unemployment duration and its cyclical dynamics. I quantify specific skills using microdata …