Exact constraints on D≤10\leq 10 Myers Perry black holes and the Wald Problem

Exact relations on the existence of event horizons of Myers Perry black holes are obtained in $D\leq 10$ dimensions. It is further shown that naked singularities can not be produced by "spinning-up" these black holes by shooting particles into their $\lfloor\frac{D-1}{2}\rfloor$ equatorial planes.Comment: 7 pages, 11 figures, version two corrects an earlier error in equation (35) and adds some plots for cohomogeneity-2 and 3 black hole

Hiring, job loss, and the severity of recessions

The hiring and firing decisions of individual businesses are one of the drivers behind movements in the unemployment rate during expansions and recessions. Whether a recession is driven by large job losses or weak hiring will greatly affect the composition and consequences of the unemployed and can have important policy implications. The extent to which recessions are times of weak hiring or high job loss depends in large part on the severity of the downturn. A recession is a time when the fraction of businesses that are expanding goes down and the fraction of businesses that are contracting goes up. A severe recession is one in which the shift in this distribution is more dramatic. In "Hiring, Job Loss, and the Severity of Recessions," Jason Faberman discusses how the severity of a recession determines whether high job loss or weak hiring will be the more important source of declining employment and rising unemployment through disproportionate changes in the distribution of business-level employment growth.Recessions ; Unemployment

Studying the Labor Market with the Job Openings and Labor Turnover Survey

The Job Openings and Labor Turnover Survey (JOLTS) is a new data source of the Bureau of Labor Statistics that estimates monthly vacancies, hires, and separations. It has quickly become a useful tool for studying the labor market. This chapter summarizes its aggregate and micro-level evidence, including the relations of vacancies and worker flows to unemployment and other measures of labor market conditions. The chapter also discusses the implications of this evidence and the potential of the data for future research.Vacancies; Beveridge Curve; Labor Turnover; Labor Market Search;

What’s In a City?: Understanding the Micro-Level Employer Dynamics Underlying Urban Growth

This paper synthesizes the literatures on labor dynamics and urban growth and agglomeration by presenting new evidence on the micro-level establishment dynamics of metropolitan areas. I explore how the patterns of job reallocation and entry and exit affect the growth and composition of these areas. I find that high-growth metropolitan areas have high rates of job and establishment turnover, primarily though higher rates of gross job creation and establishment entry, and have a relatively young distribution of establishments. Variations in the age distribution and differences in the entry and exit patterns of young establishments account for a sizeable portion of regional differences in labor dynamics and growth, even after controlling for regional differences in industry composition. These results suggest that variations in the age distribution and the dynamics that lead to such variations are important factors in understanding urban growth and agglomeration.Job Reallocation; Urban Growth and Agglomeration; Firm Dynamics

Job Flows and Establishment Characteristics: Variations Across U.S. Metropolitan Areas

This paper addresses the role played within metropolitan areas by heterogeneous agent models of constant churning. The evidence shows positive relationships between job turnover, young establishments, and metropolitan employment growth. Most areas, however, differ in their levels of job creation rather than job destruction. Results persist after controlling for regional differences in industry, but less so when controlling for differences in the establishment age distribution, and are consistent overall with standard models of creative destruction. Evidence from several entering cohorts, however, contradicts the vintage replacement process of creative destruction models. Namely, job destruction decreases as establishments age and there is no clear inverse relation between establishment entry rates and exit ages. These patterns are instead consistent with a turnover process seen in standard models of firm learning. Further evidence suggests that these patterns vary systematically with the overall employment growth of a region. Together, the results suggest that (i) processes of both creative destruction and firm learning may matter for local labor dynamics, but future models will have to reconcile with this new evidence, and (ii) intrinsic local factors, such as the “business climate”, may affect the dynamics of both processes.job turnover, regional and urban growth, creative destruction, firm learning

Job Flows and the Recent Business Cycle: Not All "Recoveries" Are Created Equal

The last two economic downturns are notable for their slow labor market recoveries. Yet, the behavior of their underlying gross job flows is quite different. The 1990-92 period had a relatively slow decline in job destruction, while the 2001-03 period had a large, persistent decline in job creation that occurs across most industries. The dynamics of the latter period run counter to the conventional wisdom that large movements in job destruction drive business cycles. Evidence spanning the entire postwar period suggests that job creation is at a historic low, and that its recent patterns are part of decades-long decline in the magnitude and volatility of job reallocation.Job Reallocation; Business Cycles; Employment Fluctuations

Will the rural economy rebound with the rest of the nation?

As the U.S. economy slipped into recession in 2001, an already lackluster rural economy lost even more steam. Since 1995, job growth in rural areas has trailed growth in metro areas. But in the wake of last year’s terrorist attacks, national recession, and falling food demand, job rolls in many parts of rural America have not only stopped growing but contracted. Meanwhile, commodity prices have only recently begun to turn around. As a result, farm incomes continue to rely on large government payments.> With the U.S. economy now in recession, the demand for most rural products - farm and nonfarm alike - has stalled. Many economic analysts expect the U.S. economy to turn around in 2002. But, are the prospects of a rural recovery as bright as the rest of the nation? Are both the Main Street and farm segments of the rural economy positioned to recover?> Henderson examines the impact of the current recession on rural growth, recaps rural performance in 2001, and explores the prospects for the year ahead. He suggests that, overall, rural areas seem poised to recover along with the rest of the nation in 2002, but only if demand for rural products rebounds.Rural development ; Rural areas ; Farm produce