Sanjay Chugh

Prof. Sanjay Chugh, Ph.D. was an Associate Professor at Ohio State University, while also taking up the reins as a lead editor for the Journal of Money, Credit, and Banking. Prior to his, he had held academic positions at Boston College and the University of Maryland, following his early research career at the Federal Reserve Board after receiving his Ph.D. from the University of Pennsylvania in 2004. Though his research agenda spanned several areas in quantitative macroeconomics, he was renowned for his contributions to the studies of optimal monetary and fiscal policy and labor markets, and the ways that they interact.

The workhorse framework for studying unemployment has been the “search and matching” model. While matching analysis has many realistic predictions, other margins of adjustment are also important for quantitatively understanding labor markets, especially following deep recessions. This project incorporates “selection effects,” which previous work has shown is quantitatively descriptive, into matching analysis. The central idea of the “selection model” is that individuals with whom firms match may not have suitable skills and thus may not be “selected,” or hired, to work. The conjunction of models describes the view that matching and hiring are distinct activities, a clear idea that has not been formalized in quantitative models. The fully-developed framework will be tested using U.S. and German data.