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The following homework must be completed and submitted using R Markdown. For help with R Markdown, consult the resources posted to Canvas, this chapter from
The following homework must be completed and submitted using R Markdown. For help with R Markdown, consult the resources posted to Canvas, this chapter from one of our online texts, or the R Markdown cheat sheet. One topic of interest to labor economists is whether recessions lead to employment "hysteresis" - a phenomenon where the impact of an economic downturn lingers in the labor market even after the recession is over. In this homework, you will explore this possibility by examining data from the Current Population Survey - a survey of the U.S. labor market - in the years around the Great Recession. We will follow some of the methodology (and use a similar dataset) as that found in "Employment Hysteresis and the Great Recession," a 2019 paper by economist Danny Yagan. Two concepts will be useful to know. The "employment rate" is the proportion of all people who have a job. The "labor-force participation rate" is the proportion of all people who are in the labor force. People are considered to be in the labor force if they either 1.) have a job (i.e., they are employed), or 2.) they want a job but can't find one (i.e., they
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