Erik Hurst, University of Chicago

Professor Chicago, Illinois erik.hurst@chicagobooth.edu Office: (773) 834-4073

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Bio/Research

Erik Hurst is a macroeconomist whose work focuses on housing markets, labor markets and household financial behavior. One strand of Hurst's research explores the importance of home production in determining time series, life cycle, and business cycle variation in measured consumption spending. Hi...

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Bio/Research

Erik Hurst is a macroeconomist whose work focuses on housing markets, labor markets and household financial behavior. One strand of Hurst's research explores the importance of home production in determining time series, life cycle, and business cycle variation in measured consumption spending. His contributions to this literature include "Consumption versus Expenditure" and "Deconstructing Life Cycle Expenditure" in the Journal of Political Economy, "Life Cycle Prices and Production" and "Time Use During the Great Recession" in the American Economic Review and "Measuring Trends in Leisure: The Allocation of Time Over Five Decades" in the Quarterly Journal of Economics. His work on these issues has been extensively covered in the New York Times, the Washington Post, and the Economist. In 2006, Hurst was awarded the TIAA-CREF Paul A. Samuelson Award for Outstanding Scholarly Writing on Lifelong Financial Security for the work examining how individuals use home production to maintain their consumption during retirement.

Recently, Hurst has explored how changes in the U.S. labor market have influenced U.S. macroeconomic outcomes. In his paper "The Allocation of Talent and U.S. Economic Growth", he shows that upwards of twenty percent of U.S. productivity growth over the last fifty years can be attributed to improved labor market outcomes for women and Blacks. In one of his more recent papers, Hurst has shown that structural forces have contributed to the low levels of employment in the wake of the 2009 recession. Specifically, in his paper "Manufacturing Declines, Housing Booms and Non-Employment," Hurst shows that roughly forty percent of the increase in non-employment during the 2000-2011 period can be traced to the secular decline in manufacturing jobs. Both of these papers have been covered extensively in the popular press.


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