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U.S. Labor Market Dynamics Revisited

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  • Eran Yashiv

Abstract

The picture of U.S. labor market dynamics is opaque. This paper aims at its clarification by (i) listing data facts that can be agreed upon; these indicate that there is considerable cyclicality and volatility of both accessions to and separations from employment and hence both are important for the understanding of the business cycle; (ii) presenting the business‐cycle facts of key series; (iii) pointing to specific gaps in the data picture, showing that the definite characterization of labor market dynamics depends upon the closing of these data gaps.

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  • Eran Yashiv, 2007. "U.S. Labor Market Dynamics Revisited," Scandinavian Journal of Economics, Wiley Blackwell, vol. 109(4), pages 779-806, December.
    • Handle: RePEc:bla:scandj:v:109:y:2007:i:4:p:779-806
    DOI: 10.1111/j.1467-9442.2007.00521.x
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    2. João Miguel Ejarque, 2009. "A Search Model with a Quasi-Network," Discussion Papers 10-23, University of Copenhagen. Department of Economics, revised Sep 2010.
    3. Serdar Birinci & Kurt Gerrard See, 2018. "How Should Unemployment Insurance vary over the Business Cycle?," 2018 Meeting Papers 69, Society for Economic Dynamics.
    4. Jennifer C. Smith, 2011. "The Ins and Outs of UK Unemployment," Economic Journal, Royal Economic Society, vol. 121(552), pages 402-444, May.
    5. Robert Dixon & G. C. Lim & Jan C. van Ours, 2015. "The effect of shocks to labour market flows on unemployment and participation rates," Applied Economics, Taylor & Francis Journals, vol. 47(24), pages 2523-2539, May.
    6. Lin, Ching-Yang & Miyamoto, Hiroaki, 2012. "Gross worker flows and unemployment dynamics in Japan," Journal of the Japanese and International Economies, Elsevier, vol. 26(1), pages 44-61.
    7. Gabriele Cardullo, 2010. "Matching Models Under Scrutiny: An Appraisal Of The Shimer Puzzle," Journal of Economic Surveys, Wiley Blackwell, vol. 24(4), pages 622-656, September.
    8. Rastouil, Jérémy, 2018. "Reconciling endogenous job destruction with labor market stylized facts: The role of hiring costs," Economics Letters, Elsevier, vol. 171(C), pages 198-201.
    9. Hie Ahn & James Hamilton, 2016. "Heterogeneity and Unemployment Dynamics," Working Papers id:11130, eSocialSciences.
    10. Ajax Moreira & Miguel N. Foguel & Carlos Henrique Corseuil, 2021. "The ins and outs of unemployment over different time horizons," Empirical Economics, Springer, vol. 60(5), pages 2533-2556, May.
    11. Francesco Zanetti, 2015. "Financial Shocks and Labor Market Fluctuations," Economics Series Working Papers Number-746, University of Oxford, Department of Economics.
    12. Noel Gaston & Gulasekaran Rajaguru, 2015. "A Markov-switching structural vector autoregressive model of boom and bust in the Australian labour market," Empirical Economics, Springer, vol. 49(4), pages 1271-1299, December.

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