NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Manufacturing Decline, Housing Booms, and Non-Employment

Kerwin Kofi Charles, Erik Hurst, Matthew J. Notowidigdo

NBER Working Paper No. 18949
Issued in April 2013

---- Acknowledgements -----

We thank John Bound, Tom Davidoff, Matt Gentzkow, Ed Glaeser, and Erzo Luttmer for their detailed feedback, and we thank Hank Farber and Tom Lemieux for their comments as discussants. Additionally, we thank seminar participants at the Columbia, Duke, Harvard, Maryland, Northwestern, Princeton, Tulane, University of British Columbia, University of Chicago, University of Illinois at Chicago, the AEA, Einaudi Institute, the NBER Summer Institute (Macro Perspectives), and the Atlanta, Chicago, Cleveland, and New York Federal Reserves for helpful comments. We are grateful to David Toniatti and Dan Zangri for excellent research assistance. We gratefully acknowledge the Initiative on Global Markets at the University of Chicago Booth School of Business for financial sup- port. Hurst thanks the Peter Wall Institute for Advanced Studies at the University of British Columbia and Notowidigo thanks the Einaudi Institute for both their financial support and hospitality while working on this project. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

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