This paper first documents trends in employment rates and then reviews what is known
about the various factors that have been proposed to explain the decline in the overall …

ABSTRACT Labor Force States and flows between are useful tools to model individual
dynamics in the labor market. This chapter reviews recent literature uncovering substantial …

Price inflation in the US has been slow to pick up in the last two decades. We show that this
missing inflation can be traced to a growing disconnect between unemployment and core …

We construct a generalized measure of labor market tightness based on the ratio of
vacancies to effective searchers. Our generalized measure exhibits substantially less …

The Phillips curve plays a central role in the macroeconomics literature. However, there is
little consensus on the forcing variable that drives inflation in the model, ie, on the …

We use administrative, survey, and online vacancy data to analyze the short-term labor
market impacts of the COVID-19 lockdown in Greece. We find that flows into unemployment …

We use a mix of new and existing data to develop the Aggregate Hours Gap (AHG), a novel
measure of labor market underutilization. Our measure differentiates individuals by detailed …

Low-skilled prime-age men are less likely to be employed than high-skilled prime-age men,
and the differential has increased since the 1970s. I build a search model encompassing …

Different ways of measuring the economy's unused capacity, or slack, can result in varying
inflation forecasts. Estimates suggest that direct measures of labor market tightness, such as …

We develop and implement a protocol to measure US monthly time series of involuntary part-
time employment stocks and flows from 1976 until today. Armed with these new data, we …