Declining Desire to Work and Downward Trends in Unemployment and Participation

Regis Barnichon, Andrew Figura

NBER Working Paper No. 21252
Issued in June 2015

---- Acknowledgments ----

We would like to thank Martin Eichenbaum and Jonathan Parker (the editors), Robert Hall and Richard Rogerson (our discussants) as well as Vladimir Asriyan, Vasco Carvalho, Davide Debortoli, Chris Foote, Bart Hobijn, Andreas Hornstein, Chris Nekarda, Kris Nimark, Nicolas Petrosky-Nadeau, Thijs van Rens, Martin Schneider, Justin Wolfers and Yanos Zylberberg for helpful comments. We also thank Roger Gomis, Erik Larsson, and Sebastien Willis for excellent research assistance. The views expressed here do not necessarily reflect those of the Federal Reserve Board or of the Federal Reserve System. Barnichon acknowledges financial support from the Spanish Ministerio de Economia y Competitividad (grant ECO2011-23188), the Generalitat de Catalunya (grants 2009SGR1157 and 2011BPB00152) and the Barcelona GSE Research Network. Any errors are our own. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

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