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The paper examines the determinants of employment growth, drawing on data available across a sample of Caribbean countries. To that end, the paper analyzes estimates of the employment-output elasticity and the response of employment growth to major sources of labor market determinants, in the...
Persistent link: https://www.econbiz.de/10010800970
This Selected Issues paper for Chile describes the postcrisis recovery experience. The recovery from the 2008–2009 global crisis has been markedly different both among advanced and emerging economies. The steady improvement in the labor wedge-distortions related to the consumption leisure...
Persistent link: https://www.econbiz.de/10011243850
Many economics theories suggest that the assignment of workers to occupations changes over the business cycle: expansions allow workers to upgrade to occupations that pay higher wages and require more skill. This paper provides some empirical evidence from the USA that such upgrading does occur...
Persistent link: https://www.econbiz.de/10009475677
Various reasons have been put forward to explain the stylized fact that the wages of job starters are more procyclical than the wages of workers who don’t change jobs. I explore the theoretical and empirical basis for one such reason: firms adjust the quality of workers assigned to jobs over...
Persistent link: https://www.econbiz.de/10009475679
A remarkable feature of the current U.S. economic expansion has been its ability to shrug off the adverse effects of financial crises and economic slowdowns around the world for nearly two years. Recently, however, foreign-sector developments have triggered a sizable shift in the sectoral...
Persistent link: https://www.econbiz.de/10005526704
This paper evaluates the dynamic response of worker flows, job flows, and vacancies to aggregate shocks in a structural vector autoregression. We identify demand, monetary, and technology shocks by imposing sign restrictions on the responses of output, inflation, the interest rate, and the...
Persistent link: https://www.econbiz.de/10005490976
This paper reconsiders the cost of business cycles under incomplete markets. Primarily, we focus on the heterogeneity in the cost of business cycles among agents with different skill levels. Unskilled workers are subject to a much larger risk of unemployment during recessions than are skilled...
Persistent link: https://www.econbiz.de/10005420522
This paper constructs a multiple-shock version of the Mortensen-Pissarides labor market search model to investigate the basic model’s well-known tendency to under predict the volatility of key labor market variables. Data on U.S. job finding and job separation probabilities are used to help...
Persistent link: https://www.econbiz.de/10005428277
An overview of some recent findings about the cyclical behavior of the aggregate labor market and its relation to the overall business cycle, discussing theory and measurement issues such as the role of household production, the impact of differences in cyclical behavior of workers with...
Persistent link: https://www.econbiz.de/10005428380