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Working Paper
Unemployment Insurance Generosity and Wage Determination
Using public-use data from the Current Population Survey, we estimate the effects of changes in unemployment insurance (UI) generosity on the wages of new hires from unemployment, job changers, and continuously employed workers. We find similar, modestly positive elasticities across all groups of workers. Posted wages respond similarly on average, but differences in distributional effects suggest that changes in wage posting are unlikely to fully explain the effects on realized wages. More generous UI also reduces hiring from unemployment and job-to-job transitions, reduces labor force exit, ...
Working Paper
A Shock by Any Other Name? Reconsidering the Impacts of Local Demand Shocks
Over the last decade, research on labor market adjustment following local demand shocks has expanded to explore a wide variety of measured shocks. However, the worker adjustments observed in response to these shocks are not always consistent across studies. We create a harmonized set of annual commuting-zone-level shocks following the major approaches in the literature to investigate these differences. As one might expect, shocks of different types exhibit different geographic and temporal patterns and are generally weakly correlated with each other. We find they also generate different ...