Moscarini, Giuseppe; Postel-Vinay, Fabien - 2009
time and fail to capture the slack in labor
markets that persists long after a recession. Nonetheless, we document that the … whereby labor reallocates itself from low- to high-paying industries in
2
booms, and vice versa in recessions. Instead, the … systematically more or less jobs, an issue of
great conceptual confusion and political importance. By taking the difference in growth …