Employment & Job Structure

    Where have all the good jobs gone? From corporate governance to globalization, the Institute examines the structural changes and trends that have eroded stable, secure employment opportunities in America and around the world, engaging economic theory and policy prescriptions to find solutions.

    Narrow by:

    Narrow results by…

    Persistent Effects of Autonomous Demand Expansions

    The prevailing wisdom that aggregate demand ‘shocks’ determine short-run cyclical fluctuations around a supply-determined equilibrium growth rate and an associated equilibrium unemployment rate (or NAIRU) has been called into question by various streams of literature in the last decades. Specifically, a recently revived literature on hysteresis finds significant persistence in the effects of recessions and negative aggregate demand shocks (Blanchard et al. 2015; Martin et al. 2015). Read more