Great Recession, great recovery? Trends from the Current Population Survey

Evidence from the Great Recession

Employment Hysteresis from the Great Recession

This paper uses U.S. local areas as a laboratory to test whether the Great Recession depressed 2015 employment. In full-population longitudinal data, I find that exposure to a 1-percentage-point-larger 2007-2009 local unemployment shock caused working-age individuals to be 0.4 percentage points less likely to be employed at all in 2015, evidently via labor force exit. These shocks also increase...

The Great Recession and Entrepreneurship

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Unemployment in the Great Recession

This paper studies the responses of unemployment in Germany, the United States and Britain to the Great Recession of 2008-09 by making use of Beveridge curve analysis, and in the entire OECD with other techniques. It is shown that Britain suffered from recession but no structural problems; the United States suffered from structural unemployment during the recovery; Germany exhibited a much bett...

Churning in the Great Recession

Churning in the Great Recession I widely appreciated that geographic mobility slowed dramatically with the Great Recession. This slowdown arose, so it’s argued, because too often owners were trapped in houses that were underwater or otherwise difficult to sell. Because they couldn’t move, they couldn’t take advantage of jobs that might be available in less depressed regions, and our labor marke...