Establishment entry and exit is strongly correlated with output and unemployment. This paper examines how these linkages affect business cycle dynamics through the lens of a search and matching model augmented to include multi-worker establishments that endogenously enter and exit. Analytical...

This paper examines the response of the U.S. labor market to a large and persistent job separation rate shock, motivated by the ongoing economic effects of the COVID-19 pandemic. We use nonlinear methods to analytically and numerically characterize the responses of vacancy creation and...

Male and female prime-age labor force participation rates have declined in the U.S. at a faster rate than in most developed countries over the past 20 years, even among people with a college degree. Stark differences in health outcomes, incarceration rates, and labor market, maternity and...