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Business cycles in the equilibrium model of labor market search and self-insurance

Nakajima, Makoto - Federal Reserve Bank of Philadelphia - 2010

The author introduces risk-averse preferences, labor-leisure choice, capital, individual productivity shocks, and market incompleteness to the standard Mortensen-Pissarides model of search and matching and explore the model's cyclical properties. There are four main findings. First and foremost,...

Persistent link: https://www.econbiz.de/10008461921

Postwar trends in metropolitan employment growth: decentralization and deconcentration

Carlino, Gerald; Chatterjee, Satyajit - Federal Reserve Bank of Philadelphia - 1999

A key finding to emerge from this study is that the widely studied suburbanization or decentralization of employment and population is only part of the story of postwar urban evolution. Another important part of the story is a postwar trend of relatively faster growth of jobs and people in the...

Persistent link: https://www.econbiz.de/10005387456

Quits, worker recruitment, and firm growth: theory and evidence

Faberman, R. Jason; Nagypal, Eva - Federal Reserve Bank of Philadelphia - 2008

The authors use establishment data from the Job Openings and Labor Turnover Survey (JOLTS) to study the micro-level behavior of worker quits and their relation to recruitment and establishment growth. They find that quits decline with establishment growth, playing the most important role at...

Persistent link: https://www.econbiz.de/10005387474

Sectoral shocks and metropolitan employment growth

Carlino, Gerald A.; DeFina, Robert H.; Sill, Keith - Federal Reserve Bank of Philadelphia - 2000

Horvath and Verbrugge (1996) argue that when investigating the sources of aggregate fluctuations, it is important to use the highest frequency data available. Using monthly data for the U.S. economy they show that industry-specific shocks are more important in explaining fluctuations in...

Persistent link: https://www.econbiz.de/10005387482

The cyclical behavior of state employment during the postwar period

Carlino, Gerald; DeFina, Robert; Sill, Keith - Federal Reserve Bank of Philadelphia - 2002

industries) decreases in the size of shocks hitting employment levels. Shifts in the demographic factors, and industrial …

Persistent link: https://www.econbiz.de/10005717317

How strong is co-movement in employment over the business cycle? Evidence from state/industry data

Carlino, Gerald A.; DeFina, Robert H. - Federal Reserve Bank of Philadelphia - 2003

This study measures the extent of co-movement in employment across states and industries at business-cycle frequencies … different industries within a state. An investigation into the sources of cross-state variation in cohesion reveals that … Shea's (1996) hypothesis that industries that locate together co-move to a greater extent than do those that are more …

Persistent link: https://www.econbiz.de/10005717421

On the stability of employment growth: a postwar view from the U.S. states.

Carlino, Gerald; DeFina, Robert; Sill, Keith - Federal Reserve Bank of Philadelphia - 2005

In 1952, the average quarterly volatility of U.S. state employment growth stood at 1.5 percent. By 1995, employment growth volatility came in at just under 0.5 percent. While all states shared in the decline, some states declined much more dramatically than others. We analyze aspects of this...

Persistent link: https://www.econbiz.de/10005389566

The suburban housing market: effects of city and suburban employment growth

Voith, Richard - Federal Reserve Bank of Philadelphia - 1996

Communities in close proximity to areas of growing employment will experience greater upward housing demand shifts from job growth than more distant communities, but the housing market response will depend on the elasticity of supply, which is likely to differ cross communities. Using a data set...

Persistent link: https://www.econbiz.de/10005389667

Matching and learning in cities: urban density and the rate of invention

Carlino, Gerald; Chatterjee, Satyajit; Hunt, Robert - Federal Reserve Bank of Philadelphia - 2005

This paper examines the role local labor markets play in the production of innovations. The authors appeal to a labor market matching model (á la Berliant, Reed, and Wang 2004) to argue that in dense urban areas, workers are more selective in their matches and are therefore more productive....

Persistent link: https://www.econbiz.de/10005389683

Postwar period changes in employment volatility: new evidence from state/industry panel data

Carlino, Gerald; DeFina, Robert; Sill, Keith - Federal Reserve Bank of Philadelphia - 2003

Many recent studies have identified a decline in the volatility of U.S. real output over the last half century. This study examines a less discussed and analyzed trend, but one as significant as the drop in output volatility, namely a substantial decline in employment volatility during the...

Persistent link: https://www.econbiz.de/10005512254