Session 20: Models of the Labor Market and the Aggregate Economy: New Developments and Policy Implications

In the past few years, there has been a burgeoning interest in the use of general equilibrium models disciplined by micro data to carefully analyze important labor market phenomena and policies, both at business-cycle frequencies and over long horizons. The use of these models to understand the behavior of labor markets and the aggregate economy over time, so as to conduct comprehensive quantitative analyses of the underlying mechanisms and proposed reforms, is still at an early stage, however. The goal of this session is to bring together a diverse group of scholars, both young and established, engaged in theoretical or quantitative frontier research in this broad area.