Slow to Hire, Quick to Fire: Employment Dynamics with Asymmetric Responses to News

We thank George-Marios Angeletos, Nick Bloom, Yongsung Chang, Pete Klenow, Michael Reiter, and Peter Zorn as well as workshop and conference participants at the Bank of France, Minneapolis Fed, Stanford, UC Santa Cruz, Toulouse, NBER Summer Institute, NBER DSGE meeting, SED Annual Meeting, the EEA Annual Congress, the conference on Causes and Macroeconomic Consequences of Uncertainty, the 2013 Empirical Macro Workshop, the Ifo Conference of Macroeconomics and Survey Data, the Annual Meeting of German Economists Abroad, the Cologne Macro Workshop, and the Frankfurt-Mannheim Macro Workshop for helpful comments. The views, opinions, and conclusions expressed herein are those of the authors and do not necessarily represent the views of the National Bureau of Economic Research or the U.S. Census Bureau. All results have been reviewed to ensure that no confidential information is disclosed. Support for this research at the Texas RDC from NSF (ITR-0427889) is also gratefully acknowledged.

• September 11, 2014