This paper investigates the impact of aggregate variables of changes in government consumption in the context of a stochastic, neoclassical growth model. We show, theoretically, that the impact on output and employment of a persistent change in government consumption exceeds that of a temporary...

Does the magnitude of a trough in employment differ from the magnitude of a peak in employment, and is the time employment spends in rising from a trough to a peak longer than the time spends in falling from a peak to a trough? In this paper we measure the “asymmetry of magnitudes” and the...

This article explores whether job displacement is more prevalent in industries with higher technological innovation and whether older and less skilled employees are more prone to technology-induced job displacement. The authors also test whether the probability of reemployment is lower for older...

The authors describe how evidence on aggregate job flows challenges standard business cycle theory and discuss recent developments in business cycle theory aimed at accounting for the evidence.