SECTORAL SHOCKS AND STRUCTURAL UNEMPLOYMENT

• 成果类型: Article
• 署名作者: RIORDAN, MH; STAIGER, RW
• 署名单位: Stanford University; National Bureau of Economic Research
• 刊物名称: INTERNATIONAL ECONOMIC REVIEW
• ISSN/ISSBN: 0020-6598
• DOI: 10.2307/2527184
• 发表日期: 1993
• 页码: 611-629
• 关键词: information; layoffs

摘要

When current employers have more information about worker quality than do potential employers, sectoral shocks cause structural unemployment. That is, some workers laid off from an injured sector remain unemployed despite the fact that they are of sufficient quality to be productively employed in an expanding sector at the prevailing wage. Moreover, sectoral unemployment rates are not monotonic in the severity of sectoral shocks due to the interaction of layoff activity and hiring activity. Finally, equilibrium employment decisions are not constrained Pareto efficient, and can be improved by a policy of adjustment assistance.