Description
Book SynopsisThe NBER Macroeconomics Annual 2021 presents research-central issues in contemporary macroeconomics. Robert Hall and Marianna Kudlyak examine unemployment dynamics during economic recoveries. They present new empirical findings and explore models in which the labor market gradually draws down the stock of unemployed workers in the aftermath of a downturn. Titan Alon, Sena Coskun, Matthias Doepke, David Koll, and Michèle Tertilt analyze the relative decline in employment of women during the COVID-19 pandemic and the associated global recession. They show that increased childcare needs, which fell more heavily on women, and differences in occupations both contributed. In the case of the US, however, each of these factors account for less than 20% of the gender gap in hours worked during the pandemic. Richard Rogerson and Johanna Wallenius study the employment rates of older workers in OECD countries over the last forty years. An expansion of institutions incentivizing retirement, concurr
Table of ContentsAbstracts pp. xix–xxii
Why Has the US Economy Recovered So Consistently from Every Recession in the Past 70 Years? Robert E. Hall and Marianna Kudlyak
Comments and Discussion Robert Shimer
Ayşegül Şahin
From Mancession to Shecession: Women’s Employment in Regular and Pandemic Recessions Titan Alon, Sena Coskun, Matthias Doepke, David Koll, and Michèle Tertilt
Comments and Discussion Laura Pilossoph
Loukas Karabarbounis
Shocks, Institutions, and Secular Changes in Employment of Older Individuals Richard Rogerson and Johanna Wallenius
Comments and Discussion Nir Jaimovich
Mark Bils
Climate Change Uncertainty Spillover in the Macroeconomy Michael Barnett, William Brock, and Lars Peter Hansen
Comments and Discussion Mar Reguant
Per Krusell
Converging to Convergence Michael Kremer, Jack Willis, and Yang You
Comments and Discussion Rohini Pande and Nils Enevoldsen
Daron Acemoglu and Carlos Molina
