Download or read book Cyclical Worker Flows written by John C. Haltiwanger and published by . This book was released on 2021 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Do recessions speed up or impede productivity-enhancing reallocation? To investigate this question, we use U.S. linked employer-employee data to examine how worker flows contribute to productivity growth over the business cycle. We find that in expansions high-productivity firms grow faster primarily by hiring workers away from lower-productivity firms. The rate at which job-to-job flows move workers up the productivity ladder is highly procyclical. Productivity growth slows during recessions when this job ladder collapses. In contrast, flows into nonemployment from low productivity firms disproportionately increase in recessions, which leads to an increase in productivity growth. We thus find evidence of both sullying and cleansing effects of recessions, but the timing of these effects differs. The cleansing effect dominates early in downturns but the sullying effect lingers well into the economic recovery.
Download or read book The Cyclicality of Worker Flows Evidence from Germany written by Daniela Nordmeier and published by wbv Media GmbH & Company KG. This book was released on 2013-11-05 with total page 133 pages. Available in PDF, EPUB and Kindle. Book excerpt: Die Entwicklung von Arbeitslosigkeit und Beschäftigung wird maßgeblich von den Übergängen auf dem Arbeitsmarkt beeinflusst. Daniela Nordmeier analysiert die Übergänge von Arbeitskräften, also Einstellungen und Entlassungen, im konjunkturellen Kontext. Dabei stützt sie sich auf prozessgenerierte Personendaten des IAB, welche einen umfassenden Einblick in die Dynamik am deutschen Arbeitsmarkt ermöglichen. Die Arbeit umfasst drei eigenständige wissenschaftliche Aufsätze, die zentrale Aspekte dieser Thematik beleuchten: * Zeitaggregation bei der Messung von Arbeitsmarktübergängen * Dynamik der Arbeitslosigkeit in Abhängigkeit von strukturellen Schocks * Modellierung von Einstellungen mithilfe einer Matchingfunktion.
Download or read book The Cyclical Behaviour of Job and Worker Flows written by Giuseppe Tattara and published by . This book was released on 2007 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This research exploits a large employer-level panel dataset in order to analyse employment and worker flows. Excess reallocation, the difference between worker and job flows at the firm level, is substantial and has a definite cyclical pattern. Both accessions and separations are cyclical in contrast to the conventional wisdom that assumes separation to be countercyclical. Separations increase in upswing, following the accession increase, and decline in recession. Unemployment during recession is not, to a large extent, due to an increase in the rate at which workers separate from their employers, as traditionally assumed among macroeconomists, but to the decline in job creations.
Download or read book Labor Statistics Measurement Issues written by John Haltiwanger and published by University of Chicago Press. This book was released on 2007-12-01 with total page 494 pages. Available in PDF, EPUB and Kindle. Book excerpt: Rapidly changing technology, the globalization of markets, and the declining role of unions are just some of the factors that have led to dramatic changes in working conditions in the United States. Little attention has been paid to the difficult measurement problems underlying analysis of the labor market. Labor Statistics Measurement Issues helps to fill this gap by exploring key theoretical and practical issues in the measurement of employment, wages, and workplace practices. Some of the chapters in this volume explore the conceptual issues of what is needed, what is known, or what can be learned from existing data, and what needs have not been met by available data sources. Others make innovative uses of existing data to analyze these topics. Also included are papers examining how answers to important questions are affected by alternative measures used and how these can be reconciled. This important and useful book will find a large audience among labor economists and consumers of labor statistics.
Download or read book Employment in Perspective written by United States. Bureau of Labor Statistics and published by . This book was released on 1977 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Financial Disruptions and the Cyclical Upgrading of Labor written by Brendan Epstein and published by International Monetary Fund. This book was released on 2017-06-08 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: Amid total factor productivity (TFP) shocks job-to-job flows amplify the volatility of unemployment, but the aggregate implications of job-to-job flows amid financial shocks are less understood. To develop such understanding we model a general equilibrium labor-search framework that incorporates on-the-job (OTJ) search and distinctly accounts for the differential impact of TFP and financial shocks. Surprisingly, we find that the interaction of OTJ search with financial shocks is sufficiently different from its interaction with TFP shocks so that, under standard calibrations, our model generates aggregate dynamics exceedingly in line with the behavior of key U.S. macro data across several decades and in the wake of the Global Financial Crisis as well. Importantly, as in the data, the model yields relatively high volatilities of consumption, labor income, and unemployment. As such, our work contributes to resolving two limitations of current general equilibrium labor-search theory: under standard calibrations models without OTJ search generate implausibly low unemployment volatility, while models with OTJ search generate unemployment volatility closer to the data but at the expense of implausibly low consumption and labor-income volatility.
Download or read book Worker Flows and Job Flows written by Shigeru Fujita and published by . This book was released on 2013 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies the quantitative properties of a multiple-worker firm matching model with on-the-job search where heterogeneous firms operate decreasing-returns-to-scale production technology. We focus on the model's ability to replicate the business cycle features of job flows, worker flows between employment and unemployment, and job-to-job transitions. The calibrated model successfully replicates (i) countercyclical worker flows between employment and unemployment, (ii) procyclical job-to-job transitions, and (iii) opposite movements of job creation and destruction rates over the business cycle. The cyclical properties of worker flows between employment and unemployment differ from those of job flows, partly because of the presence of job-to-job transitions. We also show, however, that job flows measured by net employment changes differ significantly from total worker separation and accession rates, because separations also occur at firms with positive net employment changes, and similarly firms that are shrinking on net may hire workers to partially offset attritions. The presence of job-to-job transitions is the key to producing these differences.
Download or read book Gross Worker Flows in the Presence of Informal Labor Markets written by Mariano Bosch and published by World Bank Publications. This book was released on 2006 with total page 53 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper applies recent advances in the study of labor market dynamics to a representative developing country with a large informal or unregulated sector, Mexico. It studies quarterly gross flows of workers over a 15-year period that includes two recoveries and recessions, including the celebrated 1995 Tequila crisis. It finds, first, that the formal or modern salaried sector shows the same procyclical job finding rate and mildly countercyclical separation behavior identified in the recent U.S. literature, and relative wage rigidity, both consistent with Shimer (2005a) and Hall (2005). The unregulated informal sector, however, shows reasonable acyclicality in the job finding rate coupled with sharp countercyclical movements in the job separation rate, consistent with standard small firm dynamics and Davis and Haltiwanger (1992 and 1999). This interaction of regulatory coverage and firm sizes, and patterns of gross worker flows thus sheds suggestive light on the roots of countercyclical job finding behavior in the U.S. literature. Second, the patterns of worker transitions between formality and informality correspond to the job-to-job dynamics observed in the United States and not to the traditional idea of informality constituting the inferior sector of a segmented market. That said, the countercyclical job finding in the formal sector combined with the acyclical job finding in informality does lead to the latter absorbing relatively more labor during downturns. Third, aggregate employment dynamics vary across the Tequila crisis and the later 2001 slowdown, suggesting that not only the composition of employment, but the nature of the shocks is important to understanding how the labor market adjusts.
Download or read book Cyclical Movements in Unemployment and Informality in Developing Countries written by Mariano Bosch and published by World Bank Publications. This book was released on 2008 with total page 53 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Cyclicality of Job and Worker Flows written by and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: We study the relationship between cyclical job and worker flows at the plant level using a new data set spanning from 1976-2006. We find that procyclical labor demand explains relatively little of procyclical worker flows. Instead, all plants in the employment growth distribution increase their worker turnover during booms. We also find that cyclical changes in the employment growth distribution are mostly driven by plants moving from inactivity to a growing labor force during booms. Consequently, increased labor turnover at growing plants is the main quantitative driver behind increased labor turnover during booms. We argue that on the job search models are able to capture non-parallel shifts in the employment growth distribution and procyclical conditional worker flows for a range of the growth distribution. Yet, they fail to rationalize procyclical accession rates for all shrinking and procylical separation rates for all growing plants. -- job flows ; worker flows ; aggregate fluctuations.
Download or read book Cyclical Movements in Unemployment and Informality in Developing Countries written by Mariano Bosch and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes the cyclical properties of worker flows in Brazil and Mexico, two important developing countries with large unregulated or informal sectors. It generates three stylized facts that are critical to the accurate modeling of the sector and which suggest the need to rethink the approaches to date. First, the unemployment rate is countercyclical essentially because job separations of informal workers increase dramatically in recessions. Second, the share of formal employment is countercyclical because of the difficulty of finding formal jobs from inactivity, unemployment and other informal jobs during recessions rather than because of increased separation from formal jobs. Third, flows from formality into informality are not countercyclical, but, if anything, pro-cyclical. Together, these challenge the conventional wisdom that has guided the modeling the sector that informal workers are primarily those rationed out of the formal labor market. They also offer a new synthesis of the mechanics of the cyclical adjustment process. Finally, the paper offers estimates of the moments of worker flows series that are needed for calibration.
Download or read book Gross Worker Flows written by Pablo Antolín and published by . This book was released on 1996 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Importance of Employer to employer Flows in the U S Labor Market written by Bruce Fallick and published by . This book was released on 2001 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Employer to employer Flows in the U S Labor Market written by Bruce Fallick and published by . This book was released on 2004 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Flow Approach to Labor Markets written by Steven J. Davis and published by . This book was released on 2006 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: New data sources and products developed by the Bureau of Labor Statistics and the Bureau of the Census highlight the fluid character of U.S. labor markets. Private-sector job creation and destruction rates average nearly 8% of employment per quarter. Worker flows in the form of hires and separations are more than twice as large. The data also underscore the lumpy nature of micro-level employment adjustments. More than two-thirds of job destruction occurs at establishments that shrink by more than 10% within the quarter, and more than one-fifth occurs at those that shut down. Our study also uncovers highly nonlinear relationships of worker flows to employment growth and job flows at the micro level. These micro relations interact with movements over time in the crosssectional density of establishment growth rates to produce recurring cyclical patterns in aggregate labor market flows. Cyclical movements in the layoffs-separation ratio, for example, and the propensity of separated workers to become unemployed reflect distinct micro relations for quits and layoffs. A dominant role for the job-finding rate in accounting for unemployment movements in mild downturns and a bigger role for the job-loss rate in severe downturns reflect distinct micro relations for hires and layoffs.
Download or read book Gross Worker Flows and Fluctuations in the Aggregate Labor Market written by Per Krusell and published by . This book was released on 2020 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We build a three-state general equilibrium model of the aggregate labor market that features both standard labor supply forces and labor market frictions. Our model matches key features of the cyclical properties of employment, unemployment, and nonparticipation as well as those of gross worker flows across these three labor market states. Our key finding is that shocks to labor market frictions play a dominant role in accounting for labor market fluctuations. This is in contrast to the focus of the traditional RBC literature, which emphasized how employment fluctuations arise as a consequence of labor supply responses to price changes induced by TFP shocks.
Download or read book Labor Markets and Business Cycles written by Robert Shimer and published by Princeton University Press. This book was released on 2010-04-12 with total page 189 pages. Available in PDF, EPUB and Kindle. Book excerpt: Labor Markets and Business Cycles integrates search and matching theory with the neoclassical growth model to better understand labor market outcomes. Robert Shimer shows analytically and quantitatively that rigid wages are important for explaining the volatile behavior of the unemployment rate in business cycles. The book focuses on the labor wedge that arises when the marginal rate of substitution between consumption and leisure does not equal the marginal product of labor. According to competitive models of the labor market, the labor wedge should be constant and equal to the labor income tax rate. But in U.S. data, the wedge is strongly countercyclical, making it seem as if recessions are periods when workers are dissuaded from working and firms are dissuaded from hiring because of an increase in the labor income tax rate. When job searches are time consuming and wages are flexible, search frictions--the cost of a job search--act like labor adjustment costs, further exacerbating inconsistencies between the competitive model and data. The book shows that wage rigidities can reconcile the search model with the data, providing a quantitatively more accurate depiction of labor markets, consumption, and investment dynamics. Developing detailed search and matching models, Labor Markets and Business Cycles will be the main reference for those interested in the intersection of labor market dynamics and business cycle research.
