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Victoria Gregory. I am an economist in the Research Division of the Federal Reserve Bank of St. Louis. My research interests are in macroeconomics and labor economics. My work combines structural modeling and micro data to understand topics related to labor market dynamics.
Working Papers. The Impact of Racial Segregation on College Attainment in Spatial Equilibrium [ draft: May 2024] (with Julian Kozlowski and Hannah Rubinton) Subjective Earnings Risk [ draft: January 2024] [ appendix] (R&R at Review of Economic Studies)
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Jul 16, 2024 · In a June 2024 Timely Topics Podcast episode, St. Louis Fed economist Victoria Gregory discussed her research examining the income, homeownership rates and location patterns of people in their 20s and 30s across the four generations from baby boomers to Gen Z. So what trends have emerged?
- The Alpha, Beta and Gamma Workers
- The Impact of Recessions on These Worker Types
- Why Are Gammas More Sensitive?
- The Link to Productivity
- Additional Resources
In a recent working paper and Economic Synopses, we identified and characterized three types of workers in the U.S. labor market: alphas, betas, and gammas. These worker types differ in the patterns exhibited in their work histories. The largest group, the alphas, make up 57% of the labor force, are often found in stable and long-lasting jobs, and ...
The same logic that means gammas experience job loss more strongly than alpha-workers carries over to business cycles. The figure below plots the unemployment rate of each type relative to its level before the Great Recession, which lasted from December 2007 to June 2009. While all worker types had an increase in unemployment at the start of the re...
Gamma workers are more sensitive to the business cycle for several reasons. They are more likely to separate in the first place because they tend to be in marginal jobs—jobs in which the costs of separating to the firm and the worker are very close to the benefits to both parties of remaining employed. These jobs are more likely to be destroyed whe...
The type-composition of the workforce can also help explain the dynamics in average labor productivity (or output per worker) that occurred around the Great Recession. When many gammas lose their jobs at the start of a downturn, the composition of employment changes towards alphas and betas, who have higher productivity. This force increases the av...
On the Economy: How Job Separations Differed between the Great Recession and COVID-19 RecessionOn the Economy: A Tale of Two Business Cycles during the PandemicPhD Economics New York University. Education. 2020 BA Economics and Mathematics New York University 2012. Areas of Interest. Macroeconomics, labor economics, search. Journal Publications. "Pandemic Recession: L- or V-Shaped?" with Guido Menzio and David Wiczer, Federal Reserve Bank of Minneapolis Quarterly Review, May 2020, Vol. 40, No. 4011, 1.
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Nov 2, 2023 · A recent St. Louis Fed working paper by Victoria Gregory, Julian Kozlowski and Hannah Rubinton explores whether ongoing racial differences in neighborhood sorting can account for the Black-white gap in college attainment and residential segregation even after the end of de jure segregation.
