Excess Labor and the Business Cycle
AbstractThis paper compares the Medoff-Fay estimates of labor hoarding during troughs, which are based on data from manufacturing plants, with aggregate estimates of excess labor on hand.The two sets of estimates seem consistent, which provides a strong argument in favor of the excess labor hypothesis. This is one of the few examples in macroeconomics where a hypothesis has been so strongly confirmed using detailed micro data.
Download InfoTo our knowledge, this item is not available for download. To find whether it is available, there are three options:
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
Bibliographic InfoArticle provided by American Economic Association in its journal American Economic Review.
Volume (Year): 75 (1985)
Issue (Month): 1 (March)
Other versions of this item:
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Fay, Jon A & Medoff, James L, 1985. "Labor and Output over the Business Cycle: Some Direct Evidence," American Economic Review, American Economic Association, vol. 75(4), pages 638-55, September.
- Yi Wen, 2005. "Labor hoarding and inventories," Working Papers 2005-040, Federal Reserve Bank of St. Louis.
- Marzio Galeotti & Louis J Maccini & Fabio Schiantarelli, 2002.
"Inventories Employment and Hours,"
Economics Working Paper Archive
473, The Johns Hopkins University,Department of Economics.
- Galeotti, Marzio & Maccini, Louis J. & Schiantarelli, Fabio, 2002. "Inventories, Employment and Hours," IZA Discussion Papers 458, Institute for the Study of Labor (IZA).
- Marzio Galeotti & Louis J. Maccini & Fabio Schiantarelli, 2002. "Inventories, employment and hours," Working Papers 0202, University of Bergamo, Department of Economics.
- Marzio Galeotti & Louis J. Maccini & Fabio Schiantarelli, 2002. "Inventories, Employment and Hours," Boston College Working Papers in Economics 522, Boston College Department of Economics.
- Hart, Robert A. & Malley, James R., 2000.
"Marginal cost and price over the business cycle: comparative evidence from Japan and the United States,"
European Journal of Political Economy,
Elsevier, vol. 16(3), pages 547-569, September.
- Robert A Hart & James R Malley, 1995. "Marginal Cost and Price Over the Business Cycle: Comparative Evidence from Japan and the United States," Working Papers Series 95/13, University of Stirling, Division of Economics.
- Julia Darby & Robert A. Hart, 2008.
"Wages, Productivity, and Work Intensity in the Great Depression,"
Southern Economic Journal,
Southern Economic Association, vol. 75(1), pages 91-103, July.
- Julia Darby & Robert A Hart, . "Wages, Productivity and Work Intensity in the Great Depression," Working Papers 2002_7, Business School - Economics, University of Glasgow, revised Jul 2002.
- Darby, Julia & Hart, Robert A., 2002. "Wages, Productivity, and Work Intensity in the Great Depression," IZA Discussion Papers 543, Institute for the Study of Labor (IZA).
- Faria, Joao & Jellal, Mohamed, 2009. "Dynamic of Employment and Wages Incentives," MPRA Paper 17183, University Library of Munich, Germany.
- Wen, Yi, 2003. "On the Optimal Volume of Labor Hoarding," Working Papers 03-14, Cornell University, Center for Analytic Economics.
- J. Bradford De Long, 1990. "Interpreting Procyclical Productivity Movements: Evidence from a Cross-Nation Cross-Industry Panel," J. Bradford De Long's Working Papers _136, University of California at Berkeley, Economics Department.
- Craighead, William D., 2009. "Real rigidities and real exchange rate volatility," Journal of International Money and Finance, Elsevier, vol. 28(1), pages 135-147, February.
- Robert A. Hart & J Malley (University of Glasgow), 1996. "Labor Productivity and the Cycle," Working Papers 9613, Business School - Economics, University of Glasgow.
- J. Bradford De Long & Lawrence H. Summers, 1986. "Are Business Cycles Symmetric?," NBER Working Papers 1444, National Bureau of Economic Research, Inc.
- Lapatinas, Athanasios, 2009. "Labour adjustment costs: Estimation of a dynamic discrete choice model using panel data for Greek manufacturing firms," Labour Economics, Elsevier, vol. 16(5), pages 521-533, October.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Jane Voros) or (Michael P. Albert).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.