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Nicolas’ main area of research is understanding the changes in aggregate labor markets in the longer run and over the business cycle. Specifically, he uses search and matching models to study variations in unemployment, job vacancies, and wages, and consider the implications of introducing frictions in products and credit markets. Currently he is at the Federal Reserve Bank of San Francisco as Vice President for Macroeconomic Research, and formerly on the faculty of the Tepper School of Business at Carnegie Mellon University.