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Ryan Michaels

Senior Economist

Phone: (215) 574-6110
Fax: (215) 574-4303
Send an e-mail to Ryan Michaels E-mail
Curriculum vitae PDF

Published Papers

  • “Labor Market Frictions and Aggregate Employment Dynamics,” with Michael W.L. Elsby and David Ratner, Quantitative Economics, forthcoming.
  • “Fixed Adjustment Costs and Aggregate Fluctuations,” with Michael W.L. Elsby, Journal of Monetary Economics, forthcoming.
  • “Labor and Capital Dynamics Under Financing Frictions,” with T. Beau Page and Toni Whited, Review of Finance, forthcoming.
  • “Policy Credibility and Alternative Approaches to Disinflation,” with Michael Bordo, Christopher Erceg, and Andrew Levin, Research in Economics, 71(3), (2017), pp. 422–440.
  • “Do Job-to-Job Transitions Drive Wage Fluctuations over the Business Cycle?,” with Fatih  Karahan, Benjamin Pugsley, Ayşegül Şahin, and Rachel Schuh, American Economic Review Papers and Proceedings, 107(5), (2017), pp. 353–57.
  • “Quality-Adjusted Price Measurement: A New Approach with Evidence from Semiconductors,” with David M. Byrne and Brian Kovak, Review of Economics and Statistics, 99(2), (2017), pp. 330–342.
  • “Assessing Price Indexes for Markets with Trading Frictions: A Quantitative Illustration,” with Brian Kovak, in Susan Houseman and Michael Mandel, eds., Measuring Globalization: Better Trade Statistics for Better Policy, Vol. 1, Kalamazoo, MI: W.E. Upjohn Institute for Employment Research, 2015, pp. 89–120.
  • “The Beveridge Curve: A Survey,” with Michael W.L. Elsby and David Ratner, Journal of Economic Literature, 53(3) (September 2015), pp. 571–630.
  • “Marginal Jobs, Heterogeneous Firms, and Unemployment Flows,” with Michael W.L. Elsby, American Economic Journal: Macroeconomics, 4(1) (January 2013), pp. 1–48 (recipient of the 2014 American Economic Journal: Macroeconomics Best Paper Award).
  • “The Ins and Outs of Cyclical Unemployment,” with Michael W.L. Elsby and Gary Solon, American Economic Journal: Macroeconomics, 1(1) (January 2009), pp. 84–110.

Federal Reserve Bank of Philadelphia Economic Insights Articles

Working Papers

Research in Progress

  • “Vacancy Chains,” with Michael W.L. Elsby and David Ratner.
  • “The Wages of Nonemployment,” with Michael W.L. Elsby, David Ratner, and Matthew Shapiro.
  • “Imperfect Information and Employment Persistence,” with Michael W.L. Elsby and David Ratner.
  • “Estimating Hedonic Price Models Admitting a Preference for Novelty,” with Leonard Nakamura, Erick Sager, and Brendan Williams.
  • “The Joint Dynamics of Capital and Employment at the Plant Level,” with William Hawkins and Jiyoon Oh.
  • “Labor Supply Within the Firm,” with Michele Battisti and Choonsung Park.

Research Interests

  • Macroeconomics
  • Last update: July 18, 2019