We explore the extent to which composition, duration dependence, and labor force non-participation can account for the sharp increase in the incidence of long-term unemployment (LTU) during the Great Recession. We first show that compositional shifts in demographics, occupation, industry,...

Over the past three decades, much research has attempted to identify the determinants of the natural rate of unemployment. The authors reach two main conclusions about this body of work. First, there has been considerable theoretical progress over the past thirty years. A framework emerged that...

Introduction / Claudia Goldin and Lawrence F. Katz -- Transitions over the lifecycle. Women working longer: facts and some explanations / Claudia Goldin and Lawrence F. Katz -- The return to work and women's employment decisions / Nicole Maestas -- Understanding why black women are not working...