NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH
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Marianna Kudlyak

101 Market St
Federal Reserve Bank of San Francisco
San Francisco, CA 94105

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Institutional Affiliation: Federal Reserve Bank of San Francisco

NBER Working Papers and Publications

February 2019Job-Finding and Job-Losing: A Comprehensive Model of Heterogeneous Individual Labor-Market Dynamics
with Robert E. Hall: w25625
We track the path that a worker follows after losing a job. Initially, the typical job-loser spends some time out of the labor force and in job search. Only a month or two later, in normal times, the worker lands a job. But the job is frequently brief. Over the next few months, the worker finds a good match that becomes a long-term job. Short-term jobs tend to precede long-term ones. Short-term employment shares some of the characteristics of unemployment and some of the characteristics of employment. We show that this pattern of moving among working, searching for a job, and being out of the labor force is concentrated in a segment of the working-age population. In other segments, individuals are insulated from disturbances to their activities in the labor market. Some work continuously w...
January 2014Does Greater Inequality Lead to More Household Borrowing? New Evidence from Household Data
with Olivier Coibion, Yuriy Gorodnichenko, John Mondragon: w19850
One suggested hypothesis for the dramatic rise in household borrowing that preceded the financial crisis is that low-income households increased their demand for credit to finance higher consumption expenditures in order to "keep up" with higher-income households. Using household level data on debt accumulation during 2001-2012, we show that low-income households in high-inequality regions accumulated less debt relative to income than their counterparts in lower-inequality regions, which negates the hypothesis. We argue instead that these patterns are consistent with supply-side interpretations of debt accumulation patterns during the 2000s. We present a model in which banks use applicants' incomes, combined with local income inequality, to infer the underlying type of the applicant, so th...
 
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