Employment Adjustment and Part-Time Work: Lessons from the United States and the United Kingdom

• 成果类型: Article
• 署名作者: Borowczyk-Martins, Daniel; Lale, Etienne
• 署名单位: Copenhagen Business School; University of Quebec; University of Quebec Montreal
• 刊物名称: AMERICAN ECONOMIC JOURNAL-MACROECONOMICS
• ISSN/ISSBN: 1945-7707
• DOI: 10.1257/mac.20160078
• 发表日期: 2019
• 页码: 389-435
• 关键词: labor supply elasticities; hours constraints; real wages; micro; aggregate; search; MODEL; unemployment; cyclicality; DYNAMICS

摘要

We document that fluctuations in part-time employment play a major role in movements in hours per worker during cyclical swings in the labor market. Building on this result, we develop a stock-flow framework to describe the dynamics of part-time employment. The evolution of part-time employment is predominantly explained by cyclical changes in transitions between full-time and part-time employment. Those transitions occur overwhelmingly at the same employer, entail sizable changes in individual working hours and are associated with an increase in involuntary part-time work. Our findings provide a novel understanding of the cyclical dynamics of labor adjustment on the intensive margin.