UNEMPLOYMENT, PARTICIPATION AND WORKER FLOWS OVER THE LIFE-CYCLE

• 成果类型: Article
• 署名作者: Choi, Sekyu; Janiak, Alexandre; Villena-Roldan, Benjamin
• 署名单位: Autonomous University of Barcelona; Barcelona School of Economics; Universidad de Chile
• 刊物名称: ECONOMIC JOURNAL
• ISSN/ISSBN: 0013-0133
• DOI: 10.1111/ecoj.12176
• 发表日期: 2015
• 页码: 1705-1733
• 关键词: job search; LABOR; EMPLOYMENT; retirement

摘要

We estimate life-cycle transition probabilities among employment, unemployment and inactivity for US workers. We assess the importance of each worker flow to account for participation and unemployment rates over the life cycle. We find that inactivity exit and entry matter but the empirically relevant margins defy conventional wisdom: high youth unemployment is due to high employment exit probabilities, while low labour force entry probabilities substantially account for low participation and unemployment among older workers. Our results remain intact under several forms of heterogeneity, time-aggregation bias and misclassification errors.