The U.S. economy faces potential recession concerns. Companies often react by downsizing to save cash and maintain operational flexibility, leading to severe consequences for employees. Such layoffs can harm the broader labor market over time. Researchers, including Michael Blank and Omeed Maghzian, analyze the implications of labor market dynamics and fiscal policies amidst macroeconomic challenges and the evolving nature of work through AI advancements.
When a recession strikes, many companies respond by immediately downsizing their workforce to preserve cash, streamline operations, and maintain flexibility in the face of macroeconomic uncertainty.
Employment cuts can have devastating consequences on workers and cause lingering damage to the labor market at large.
Michael Blank's research employs innovative empirical methods and large administrative data to study how financial and labor market frictions influence macroeconomic outcomes.
Omeed Maghzian's research focuses on the macroeconomics of labor markets, fiscal policy design, and the impact of AI on the future of work.
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