NBER Macroeconomics Annual 2021, Volume 36.

• Position: NBER Books

Martin Eichenbaum and Erik Hurst, editors

https://www.journals.uchicago.edu/toc/ma/2022/36

The NBER Macroeconomics Annual 2021 presents research on 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 Michele Tertilt show that increased childcare needs, which fell more heavily on women, and differences in occupations both contributed to the relative decline in the employment of women during the COVID-19 pandemic and the associated global recession. In the case of the US, however, each of these factors account for less than 20 percent 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 40 years. An expansion of institutions incentivizing retirement, concurrent with negative aggregate shocks between 1970 and 1995, led to falling employment rates. This trend started to reverse in the mid-1990s...