This paper investigates the role of banking networks in the transmission of shocks across borders. Combining banking deregulation in the US with state-level idiosyncratic demand shocks, we show that geographically diversified banks reallocate funds from economies experiencing negative shocks to...

Labor force outcomes after an involuntary job loss tend to differ systematically between men and women, with women experiencing a lower probability of finding another job, a longer average duration of nonemployment, and larger losses in hours given reemployment. This study examines the role of...

This paper introduces and proposes a policy application for a new Equal Employment Opportunity (EEO) Index. The index is comprised of multiple measures of employers' human resource management outcomes and is designed to reflect employers' systemic EEO efforts. The index is applied to industry...

Although many studies have examined whether job stability and security have declined over time, the role of technology in job turnover has received little attention. This analysis examines the relationship between the likelihood that a worker remains at the same job for two years and various...

Previous research has reached mixed conclusions about whether higher levels of immigration reduce the wages of natives. This paper reexamines this question using data from the Current Population Survey and the Immigration and Naturalization Service and focuses on differential effects by skill...

This paper controls for the selection bias associated with occupational choice and the labor force participation decision in estimating the wage penalty for working in female-dominated occupations. Using data from the May 1979 and the April 1993 supplements to the Current Population Survey, the...

This study uses data from the 1980 and 1990 Census and the 1994-2000 Current Population Survey to examine the determinants of earnings among male Cuban immigrants in the United States by race. Nonwhite Cuban immigrants earn about 15 percent less than whites, on average. Much of the racial wage...

We investigate cyclical changes in workers' task portfolios, highlighting their direction, magnitude, and distribution. Task changes are not only very common but provide information about the skills required across jobs. During recessions, a larger share of employer switches do not involve task...

This paper studies the impact of Higher Order Belief shocks, representing shifts in agents' beliefs about others' beliefs, on macroeconomic outcomes. The dynamic causal effects of these shocks are identified by leveraging a combination of a proxy-VAR approach and DSGEbased instruments. Our...

The pricing kernel is an important tool for understanding asset prices, expected returns, and investor preferences. However, empirical findings often reveal deviations from theoretical predictions, leading to the so-called "pricing kernel puzzle". This article explores the pricing kernel under...