I am an Economist at the Research Department at the Federal Reserve Bank of Richmond. My Google Scholar Citation profile can be viewed here.

Disclaimer: Any opinions expressed here are my own and do not represent those of the Federal Reserve Bank of Richmond or the Federal Reserve System.



Publications in Refereed Academic Journals

Recourse and Residential Mortgage Default: Evidence from U.S. States

Ghent, Andra C., and Marianna Kudlyak, Review of Financial Studies, 2011, 24:9, 3139-3186.




Publications in Federal Reserve System Journals


Full-length articles:


A Cohort Model of Labor Force Participation,
Marianna Kudlyak, Economic Quarterly, FRB Richmond, 1Q 2013.


Housing Services Price Inflation
Marianna Kudlyak, Economic Quarterly, FRB Richmond, 3Q 2012.


Accounting for the Non-Employment of U.S. Men, 1968-2010
Marianna Kudlyak, Thomas Lubik, and Jonathan Tompkins, Economic Quarterly, FRB Richmond, 4Q, 2011.


Are Wages Rigid Over the Business Cycle?
Marianna Kudlyak, Economic Quarterly, FRB Richmond, 2Q, 2010.


Short articles:


A New Measure of Resource Utilization in the Labor Market,
Andreas Hornstein, Marianna Kudlyak, and Fabian Lange, Economic Brief, FRB Richmond, forthcoming.


Not Everyone Who Joins the Ranks of the Employed Was “Unemployed”,

Maria Canon, Marianna Kudlyak, and Marisa Reed, The Regional Economist, FRB St. Louis, January 2013.
Media coverage: St Louis Post-Dispatch

How Risky Are Young Borrowers,
Peter Debbaut, Andra C. Ghent, Marianna Kudlyak, and Jessie Romero, Economic Brief, FRB Richmond, December 2013.

A Closer Look at the Decline in the Labor Force Participation Rate, 
Maria Canon, Peter Debbaut, and Marianna Kudlyak, The Regional Economist, FRB St. Louis, October 2013.

Media coverage: Macromania


Job Search Behavior: Lessons from Online Job Search,
Marianna Kudlyak, and Jessie Romero, Economic Brief, FRB Richmond, April 2013.

The Increased Role of Flows Between Nonparticipation and Unemployment During the Great Recession and the Recovery
Marianna Kudlyak, and David Price,
Economic Brief, FRB Richmond, June 2012.

The Responses of Small and Large Firms to Tight Credit Shocks: the Case of 2008 through the Lens of Gertler and Gilchrist (1994)
Marianna Kudlyak, David Price, and Juan M. Sanchez, Economic Brief, FRB Richmond, October 2010.

Comparing Labor Markets across Recessions: a Focus on the Age Composition of the Population
Marianna Kudlyak, Devin Reilly, and Stephen Slivinski, Economic Brief, FRB Richmond , April 2010.

Deterring Default: Why Some State Laws Decrease the Probability of Mortgage Foreclosures
Andra C. Ghent, Marianna Kudlyak, and Stephen Slivinski, Economic Brief, FRB Richmond, Sept 2009.




Working Papers


8. The Cyclicality of the User Cost of Labor

Marianna Kudlyak, accepted with major revisions to Journal of Monetary Economics.

(For November 2007 version click here. This paper was initially posted under the title "The Cyclicality of the User Cost of Labor with Search and Matching.")

Presentations: Boston College (March 2014), ASSA, Denver CO (2011), Econometric Society European Meeting, Barcelona (2009), Annual Conference of the Canadian Economic Association, Toronto (May 2009), System Macroeconomics Committee Meeting, FRB San Francisco (May 2009), New York/Philadelphia Workshop on Quantitative Macroeconomics, FRB Philadelphia (April 2009), FRB Kansas City (2008), FRB Cleveland (2008), UC Santa Cruz (2008), University of Montreal (2008), Wilfrid Laurier University (2008), Kyiv School of Economics (2008).


7. Productivity Insurance: The Role of Unemployment Benefits in a Multi-Sector Model

David L. Fuller, Marianna Kudlyak and Damba Lkhagvasuren, revision requested by the Journal of Economic Dynamics and Control

Presentations: ASSA Meetings, Philadelphia, PA (2014), Fall Midwest Macro Meeting (2013)*, Stockman Conference at Rochester (2012)*

Media coverage: NED-DGE Blog

6. Does Greater Inequality Lead to More Household Borrowing? New Evidence from Household Data

Olivier Coibion, Yuriy Gorodnichenko, Marianna Kudlyak and John Mondragon, January 2014, NBER WP No. 19850

Presentations: SED (June 2014, forthcoming), NY FED (May 2014), VCU (April 2014), FRB St. Louis (2013),  4th Ifo Conference on “Macroeconomics and Survey Data”, Munich, Germany (2013)*

Media coverage: Washington Post, The News Tribune UniBul Credit Card Blog, VoxEU


5. Are Young Borrowers Bad Borrowers? Evidence from the Credit CARD Act of 2009

Peter Debbaut, Andra C. Ghent and Marianna Kudlyak, November 2013, Richmond FED WP No. 13-09R

Presentations: SED (June 2014, forthcoming)*, New Perspectives on Consumer Behavior in Credit and Payment Markets (2013)*, ASU*

Media coverage:  WSJ, The Guardian, NBC News, Bankrate, Bloomberg, Forbes, Fox Business, UniBul Credit Card Blog, Global Association of Risk Professionals, The State, Chicago Tribune, Yahoo! News, Sun Herald, Morningstar, College Times, KGW-TV, Portland, OR, NBC Washington


4. The Intensity of Job Search and Search Duration

Jason Faberman and Marianna Kudlyak, July 2013

Presentations: SED (June 2014, by coauthor, forthcoming)*, 2013 Comparative Analysis of Enterprise Data Conference (2013)*, CIREQ Labor Workshop in Montreal: Micro and Macro Perspectives on Unemployment, University of Notre Dame (2013)*, NBER SI, Shimer-Rogerson-Wright Group (2013)*, Kansas City FED*, System Applied Microeconomics Conference (2013)*, 3rd Ifo Conference on Macroeconomics and Survey Data (2012)*


3. Systematic Job Search: New Evidence from Individual Job Application Data

Marianna Kudlyak, Damba Lkhagvasuren and Roman Sysuyev, April 2012, Richmond FED WP No. 12-03R

This paper was initially posted under the title "Sorting by Skill Over the Course of Job Search."

Presentations: 
U Toronto (2013), SED, Seoul, Korea (2013),  North American Summer Meeting, LA (2013), U Warwick (2013), SOLE, Boston (2013), ASSA, San Diego (2013), A. Stockman Conference, University of Rochester (2012), UC Berkeley (2012)

2. Accounting for Unemployment in the Great Recession: Nonparticipation Matters

Marianna Kudlyak and Felipe Schwartzman, April 2012, Richmond FED WP No. 12-04


Marianna Kudlyak, September 2010, Richmond FED WP No. 10-13

(For Supplementary Appendix click here.)

Presentations: Society of Labor Economists Annual Meetings (2009), EEA Annual Meeting (2009).


(Note: Presentations marked by * are by a coauthor)


Work in Progress


Estimating the Trend in the Labor Force Participation Rate

Andreas Hornstein and Marianna Kudlyak

Presentations: FRB St. Louis (2013), A. Stockman Conference, University of Rochester (2013)


Measuring Heterogeneity in Job Finding Rates Among Those Out of the Labor Force

Marianna Kudlyak and Fabian Lange

Discussions


“How Sticky Wages in Existing Jobs Can Affect Hiring" by Mark Bils, Yongsung Chang and Sun-Bin Kim,
Recent Developments in the U.S. Labor Market: Analysis and Policy Responses, FRB Atlanta Center for Human Capital Studies, October 2013.

Rebuilding Household Credit Histories: Slow Jobless Recovery from Mortgage Crises” by Guannan Luo,
2013 Financial Management Association Annual Meeting, Chicago, October 2013.

The Trend Is the Cycle: Job Polarization and Jobless Recoveries by Nir Jaimovich and Henry Siu,
Employment Consequences of the Great Recession, FRB Atlanta Center for Human Capital Studies, September 2012.

Measuring Mismatch in the U.S. Labor Market,” by Ayşegül Şahin, Joseph Song, Giorgio Topa, and Giovanni Violante,
Employment and Education Conference, FRB Atlanta Center for Human Capital Studies, September 2011.

“What Drives Movements in the Unemployment Rate?” by Regis Barnichon and Andrew Figura,
New York/Philadelphia Workshop on Quantitative Macroeconomics, NYC, April 2010.

“Firm Entry and Labor Market Dynamics,” by Pedro Silos and Enchuan Shao,
Annual Conference of the Canadian Economic Association, Toronto, May 2009.



Referee Service

American Economic Review, Quarterly Journal of Economics, Journal of Monetary Economics, International Economic Review, American Economic Journal: Macro, Labour Economics, European Economic Review, Economic Letters, Journal of Legal Studies, Journal of Labor Research.



Other Professional Service

Conference session organizer/chair:

“Unemployment Across Regions and Sectors” ASSA Meetings, Philadelphia, January 2014.

“Real Estate: Mortgage Default” Financial Management Association Annual Meeting, Chicago, October 2013.

“New Evidence from Online Job Search” ASSA Meetings, San Diego, January 2013 (organizer).

“Labor Market, Labor Decisions, and Production Cycles” ASSA Meetings, Denver, January 2011 (co-organizer).

Conference co-organizer:

          Alan Stockman University of Rochester Alumni Conference, Rochester, October 2014 (forthcoming).

Federal Reserve System Applied Microeconomics Conference, Richmond, May 16-17 2012.

 


Links to Interesting Papers and Economic Blog Posts

January 2014

"But Marshall's scissors are meant to describe what happens in an anonymous spot market for goods like wheat or oil. The labor market is a market for relationships. Relationships are durable. Relationships are a form of capital. We have to move away from Marshall's scissors to understand these relationships (search theory is one way to do this). The economic surplus generated by a productive relationship is divided through a bilateral or multilateral bargaining process that specifies (among other things) how wages are to evolve through time over the life of the relationship. The spot wage (the wage that an econometrician might observe in a data set) plays no allocative role in the relationship. Stickiness in the spot wage does not matter."