Brookings Papers on Economic Activity: Fall 2011

Contents include • Recessions and the Costs of Job Loss Steve Davis (University of Chicago) and Til von Wachter (Columbia University) • What Do Small Businesses Do? Erik Hurst and Benjamin Wild Pugsley (University of Chicago) • Unemployment Insurance and Job Search in the Great Recession Jesse Rothstein (University of CaliforniaBerkeley) • The Effects of Quantitative Easing on Interest Rates: Channels and Implications for Policy Arvind Krishnamurthy and Annette Vissing-Jorgenson (Northwestern University) • Practical Monetary Policy: Examples from Sweden and the United States Lars E. O. Svensson (Sveriges Riksbank) • The Labor Market in the Great Recession—An Update to September 2011 Michael. W. L. Elsby (University of Edinburgh), Bart Hobijn (Federal Reserve Bank of San Francisco), Ayşegül Şahïn (Federal Reserve Bank of New York), and Robert B. Valletta (Federal Reserve Bank of San Francisco) • The Income- and Expenditure-Side Estimates of U.S. Output Growth—An Update to 2011Q2 Jeremy J. Nalewaik (Board of Governors of the Federal Reserve System)