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Conferences


Employment and the Business Cycle - November 11-12, 2010

Federal Reserve Bank of Atlanta

The Federal Reserve Bank of Atlanta hosted the inaugural conference of its Center for Human Capital Studies (CHCS). The theme of the conference, which took place November 11–12, 2010, at the Federal Reserve Bank of Atlanta, was "Employment and the Business Cycle," with a focus on the employment effects of the 2007–09 recession.

This recession has been especially problematic for employment not just because of the depth of jobs loss but also because of the duration of jobs loss. Although overall economic activity has begun to recover, the high level of joblessness persists. This conference detailed the labor market experiences of individual workers and the factors that may account for the overall decline in employment. It also explored what the coming months and years may bring to the employment picture.

Agenda and Papers

Thursday, November 11, 2010
Welcome
Dave Altig, Federal Reserve Bank of Atlanta
Melinda Pitts, Federal Reserve Bank of Atlanta
Session 1
Moderator
Melinda Pitts, Federal Reserve Bank of Atlanta
"Why Is Unemployment Still So High Two Years after the Financial Crisis?"
Robert E. Hall, Stanford University

Discussant
Richard Rogerson, Arizona State University
"Job Loss and Unemployment in the 21st Century: The Great Recession in Labor Market Perspective"
Henry S. Farber, Princeton University

Discussant
Bruce Fallick, Federal Reserve Board
"Job Search and Job Finding in a Period of Mass Unemployment: Evidence from High Frequency Longitudinal Data"
Alan Krueger, Princeton University and former Assistant Secretary, U.S. Treasury

Discussant
Barry Hirsch, Georgia State University
"The Effects of Extended Unemployment Insurance Over the Business Cycle: Evidence from Regression Discontinuity Estimates over Twenty Years" PDF logo
Till M. Von Wachter, Columbia University

Discussant
Erica Groshen, Federal Reserve Bank of New York
Dinner
Keynote Speaker

Business Feedback on Today's Labor Market
Dennis Lockhart, President, Federal Reserve Bank of Atlanta
Friday, November 12, 2010
Session 2
Moderator
Julie Hotchkiss, Federal Reserve Bank of Atlanta
"Aggregate Labor Supply"
Edward C. Prescott, Arizona State University
Johanna Wallenius, Stockholm School of Economics

Discussant
Gary Hansen, UCLA
"Wage Rigidities and Jobless Recoveries" PDF logo
Robert Shimer, University of Chicago

Discussant
David Andolfatto, Federal Reserve Bank of St. Louis
"Skills, Tasks and Technologies: Implications for Employment and Earnings" PDF logo
David Autor, MIT

Discussant
Rob Valletta, Federal Reserve Bank of San Francisco
"Labor Market Flows in the Cross Section and Over Time" PDF logo
Steve Davis, University of Chicago

Discussant
Aysegul Sahin, Federal Reserve Bank of New York
Session 3

Current Labor Market Issues
John Robertson, Federal Reserve Bank of Atlanta
Round Table Discussion
Moderator
John Robertson, Federal Reserve Bank of Atlanta

David Autor, Steve Davis, Henry S. Farber, Alan Krueger, Edward C. Prescott,
Robert Shimer, Till M. von Wachter
Closing Comments