Search Results

(refine search)

SORT BY: PREVIOUS / NEXT

All:
Title:
Author:
Abstract:
Keywords:

+ Add Search Parameter

Working Paper
Labor Market Effects of Worker- and Employer-Targeted Immigration Enforcement
Orrenius, Pia M.; Zavodny, Madeline; Smith, Chloe N. (2024-11-19)
Hiring someone who is not authorized to work in the United States is illegal, and employers who knowingly hire unauthorized immigrant workers may face civil and criminal penalties. The federal government uses a variety of actions, including worksite raids and paperwork audits, to enforce the prohibition on hiring unauthorized workers. Compliance costs and the possibility of becoming the target of an immigration enforcement action may affect U.S. businesses’ decisions about whom to hire as well as how many workers to employ and how much to pay them, but little previous research has studied ...
Working Papers , Paper 2413

Discussion Paper
Assisting Firms during a Crisis: Benefits and Costs
Wall, Larry D. (2020-08-10)
Public and private efforts to reduce COVID-19 infection levels have led to a sharp drop in economic activity around the world. In an attempt to mitigate the damage to businesses, governments around the world have implemented a variety of financial programs to help firms. These programs have been criticized as interfering with markets, providing bailouts, and creating adverse incentives. In this article, I review both the rationale for government-provided assistance and the costs of providing that assistance from the perspective of how that aid effects the likely level and volatility of ...
Policy Hub , Paper 2020-10

Working Paper
Competitors' Stock Price Reaction to Mass Layoff Announcements
Pinheiro, Roberto; Bordeman, Adam; Kannan, Bharadwaj (2016-04-18)
Using data on layoff announcements by S&P 500 firms, we show that layoff announcements mostly contain industrywide news. Competitors? stock price reactions are positively correlated with the announcer?s returns. This contagion effect is stronger for competitors whose values depend on growth opportunities. When layoff announcements induce positive stock returns to announcers, competitors with positive R&D see a 1.15% increase in their returns. Conversely, when announcements induce negative reactions to announcers, competitors with high sales growth see a reduction of 1.09% in returns. Our ...
Working Papers (Old Series) , Paper 1610

Working Paper
The slow job recovery in a macro model of search and recruiting intensity
Liu, Zheng; Leduc, Sylvain (2016-05-08)
Despite steady declines in the unemployment rate and increases in the job openings rate after the Great Recession, the hiring rate in the United States has lagged behind. Significant gaps remain between the actual job filling and finding rates and those predicted from the standard labor search model. To examine the forces behind the slow job recovery, we generalize the standard model to incorporate endogenous variations in search intensity and recruiting intensity. Our model features a vacancy creation cost, which implies that firms rely on variations in both the number of vacancies and ...
Working Paper Series , Paper 2016-9

Working Paper
Precautionary On-the-Job Search over the Business Cycle
Shao, Ling; Ahn, Hie Joo (2017-02-24)
This paper provides new evidence for cyclicality in the job-search effort of employed workers, on-the-job search (OJS) intensity, in the United States using American Time Use Survey and various cyclical indicators. We find that OJS intensity is countercyclical along both the extensive and intensive margins, with the countercyclicality of extensive margin stronger than the other. An increase in the layoffs rate and the deterioration in expectations about future personal financial situation are the primary factors that raise OJS intensity. Our findings suggest that the precautionary motive in ...
Finance and Economics Discussion Series , Paper 2017-025

Working Paper
Why Do Earnings Fall with Job Displacement?
Fallick, Bruce; Carrington, William J. (2014-06-02)
The earnings of workers are reduced for many years after being displaced from their jobs, and those workers and their families face increased risk of other problems as well. The ills suffered by displaced workers motivated several recent expansions of government programs, including the unemployment insurance system, and have spurred calls for wage insurance that would provide longerrun earnings replacement. However, while the magnitude of the losses is relatively clear, the theory of why displacement matters is scattered and somewhat undeveloped. Much of the policy discussion appears to ...
Working Papers (Old Series) , Paper 1405

Working Paper
VACANCY CHAINS
Elsby, Michael; Ratner, David; Michaels, Ryan (2020-07-30)
Replacement hiring—recruitment that seeks to replace positions vacated by workers who quit—plays a central role in establishment dynamics. We document this phenomenon using rich microdata on U.S. establishments, which frequently report no net change in their employment, often for years at a time, despite facing substantial gross turnover in the form of quits. We propose a model in which replacement hiring is driven by the presence of a putty-clay friction in the production structure of establishments. Replacement hiring induces a novel positive feedback channel through which an initial ...
Working Papers , Paper 20-28

Working Paper
Set it and Forget it? Financing Retirement in an Age of Defaults
Goodman, Lucas; Mukherjee, Anita; Ramnath, Shanthi (2022-10-19)
Retirement savings abandonment is a rising concern connected to defined contribution systems and default enrollment. We use tax data on Individual RetirementAccounts (IRAs) to establish that for a recent cohort, 0.4% of retirement-age individuals abandoned an aggregate of $66 million, proxied by a failure to claim over ten years after a legal requirement to do so. Analysis of state unclaimed property databases suggests that workplace defined contribution plans are abandoned at a higher rate than IRAs. Finally, regression discontinuity estimates show that certain accounts created by default ...
Working Paper Series , Paper WP 2022-50

Journal Article
Disparities in COVID-19’s Impact on Employment and Household Consumption
Flores, Andrea; Gayle, George-Levi (2022-10-21)
This article investigates the socio-demographic differences in household responses to the COVID-19 pandemic regarding employment and consumption. We find that the significant racial disparities in employment observed during the pandemic can be explained, in part, by differences in household income, composition, education, and occupational sorting. Nonetheless, we document pervasive racial, income, and educational gradients when focusing on household food insecurity and individuals' reliance on social insurance programs and other government assistance during the pandemic. Overall, our results ...
Review , Volume 104 , Issue 4 , Pages 224-265

Working Paper
Vacancy Chains
Elsby, Michael; Michaels, Ryan; Gottfries, Axel; Ratner, David (2022-08-19)
Replacement hiring—recruitment that seeks to replace positions vacated by workers who quit—plays a central role in establishment dynamics. We document this phenomenon using rich microdata on U.S. establishments, which frequently report no net change in their employment, often for years at a time, despite facing substantial gross turnover in the form of quits. We devise a tractable model in which replacement hiring is driven by a novel structure of frictions, combining firm dynamics, on-the-job search, and investments into job creation that are sunk at the point of replacement. A key ...
Working Papers , Paper 22-23

show more (80)

PREVIOUS / NEXT

Fed in Print

Search Results

FILTER BY year

FILTER BY Bank

FILTER BY Series

FILTER BY Content Type

FILTER BY Author

FILTER BY Jel Classification

FILTER BY Keywords