CYCLICAL FLUCTUATIONS AND SECTORAL REALLOCATION - A REEXAMINATION

• 成果类型: Article
• 署名作者: STARRMCCLUER, M
• 刊物名称: JOURNAL OF MONETARY ECONOMICS
• ISSN/ISSBN: 0304-3932
• DOI: 10.1016/0304-3932(93)90056-L
• 发表日期: 1993
• 页码: 417-425
• 关键词: BUSINESS FLUCTUATIONS; labor mobility; DURATION ANALYSIS

摘要

To investigate how sectoral demand shifts affect cyclical unemployment, studies by Murphy-Topel and Loungani-Rogerson examine whether labor mobility rises in recession. Results are contradictory, depending on a priori assumptions about unfinished unemployment spells. This note uses monthly data from the early 1980s and a competing risks hazard approach to overcome this problem. Results confirm the Loungani-Rogerson finding of higher respecialization in recession; however, the countercyclicality is fairly modest when estimated in an unbiased way.