Unemployment Fluctuations in the United States: Further Tests of the Sectoral-Shifts Hypothesis
AbstractThis paper presents further evidence on the importance of sectoral shifts by examining unemployment fluctuations in the United States over the period 1960 to 1991, extending previous research in three directions: first, by using a thirty-industry decomposition of quarterly nonagricultural employment; second, by employing modern time-series econometric techniques; and third, by using dispersion measures purged of both monetary and aggregate demand influences. The authors' findings support the view that sectoral shifts have been an important element of fluctuations in U.S. employment and also indicate that a given amount of dispersion has been associated with more unemployment during downturns than upturns. Copyright 1995 by MIT Press.
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Bibliographic InfoArticle provided by MIT Press in its journal Review of Economics & Statistics.
Volume (Year): 77 (1995)
Issue (Month): 2 (May)
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- Sakata, Kei, 2002. "Sectoral Shifts and Cyclical Unemployment in Japan," Journal of the Japanese and International Economies, Elsevier, vol. 16(2), pages 227-252, June.
- Christopher Reicher, 2011. "The aggregate effects of long run sectoral reallocation," Kiel Working Papers 1720, Kiel Institute for the World Economy.
- Mills, Terence C. & Pelloni, Gianluigi & Zervoyianni, Athina, 1996. "Cyclical unemployment and sectoral shifts: Further tests of the Lilien hypothesis for the UK," Economics Letters, Elsevier, vol. 52(1), pages 55-60, July.
- repec:wop:ubisop:0004 is not listed on IDEAS
- von Greiff, Camilo, 2007. "Specialization in Higher Education and Economic Growth," Research Papers in Economics 2007:13, Stockholm University, Department of Economics.
- Gianluigi Pelloni & Wolfgang Polasek, . "Intersectoral Labour Reallocation and Employment Volatility: A Bayesian Analysis using a VAR-GARCH-M model," Discussion Papers 99/4, Department of Economics, University of York.
- Shin, Kwanho, 1997. "Sectoral shocks and movement costs: Effects on employment and welfare," Journal of Economic Dynamics and Control, Elsevier, vol. 21(2-3), pages 449-471.
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