Coibion, Gorodnichenko, and Hong (2015) argue that the CPI underestimates the deceleration in consumer prices during economic downturns because the index fails to account for the reallocation of consumer spending from high- to low-price stores. We show that these authors' measures of inflation...

Using data from Glassdoor, we show that firms transmit productivity shocks to workers through performance pay. Performance pay responds more than base to industry shocks, falling (rising) 17% in Finance (Information Technology) after the recent financial crisis. At the regional level,...

In this note, we use the household-level data in the University of Michigan's Surveys of Consumers, including respondents' own changes in expectations, to document new signs that households pay limited attention to inflation developments

Using a sample of prominent scandals, we study how employees are impacted by corporate misconduct. We find that worker sentiment decreases sharply and persistently following a scandal, driven by diminished perceptions of a firm’s culture and senior management. Further, fewer employees receive...

Do firms that pay more offer better amenities, or does the greater pay compensate for worse amenities? Using matched U.S. employee-employer data, this paper estimates the joint distribution of wages, amenities, and job satisfaction across firms. Fifty amenities are captured applying topic...

Using a sample of corporate scandals and data from the website Glassdoor, we study how negative reputation shocks affect firms and their employees. Worker sentiment declines persistently at scandal-hit firms, driven by diminished perceptions of management and culture. While base wages and fringe...

Women experience significant reductions in labor market income following the birth of children, while their male partners experience no such income drops. This "relative child penalty" has been well documented and accounts for a significant amount of the gender income gap. In this paper we do...

To produce output for a firm, coworkers often interact. This paper examines the possibility that as a byproduct of these interactions, there are learning spillovers: coworkers learn general skills from each other that increase future productivity. In the first part of t he paper I show that l...