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An Estimate of a Sectoral Model of Labor Mobility

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Author Info
Jovanovic, Boyan
Moffitt, Robert

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Abstract

This paper develops a model of sectoral labor mobility and tests its main implications. The model nests two distinct hypotheses on the origin of mobility: (1) sectoral shocks and (2) worker-employer mismatch. We estimate the relative importance of each hypothesis and find that the bulk of labor mobility is caused by mismatch rather than by sectoral shift. We then try to put a value on society's match--specific information. That is, we ask to what extent the availability of the option to change jobs raises GNP. We find that the mobility option raises expected earnings by roughly between 8.5 percent and 13 percent of labor earnings, which translates to an increase in GNP of between 6 percent and 9 percent. Copyright 1990 by University of Chicago Press.

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Publisher Info
Article provided by University of Chicago Press in its journal Journal of Political Economy.

Volume (Year): 98 (1990)
Issue (Month): 4 (August)
Pages: 827-52
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Handle: RePEc:ucp:jpolec:v:98:y:1990:i:4:p:827-52

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  1. Boyan Jovanovic & Peter L. Rousseau, 2008. "Specific Capital and Technological Variety," NBER Working Papers 13998, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  2. Larry Karp, 2000. "Fundamentals versus Beliefs under Almost Common Knowledge," Department of Agricultural & Resource Economics, UC Berkeley, Working Paper Series 871R, Department of Agricultural & Resource Economics, UC Berkeley. [Downloadable!]
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  3. Robert Gibbons & Lawrence F. Katz, 1992. "Does Unmeasured Ability Explain Inter-Industry Wage Differentials?," NBER Working Papers 3182, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  4. Dennis P.J. Botman & Alexander F. Tieman, 1999. "Trade Reform and Labor Market Dynamics," Tinbergen Institute Discussion Papers 99-054/1, Tinbergen Institute. [Downloadable!]
  5. Teulings Coen N. & van der Ende, Martin A., 2001. "A Structural Model of Tenure and Specific Investments," CESifo Working Paper Series CESifo Working Paper No. , CESifo GmbH. [Downloadable!]
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  6. Andrew Atkeson & Patrick J. Kehoe, 2005. "Modeling and measuring organization capital," Staff Report 291, Federal Reserve Bank of Minneapolis. [Downloadable!]
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  7. Klara Z. Sabirianova, 2000. "The Great Human Capital Reallocation: An Empirical Analysis of Occupational Mobility in Transitional Russia," William Davidson Institute Working Papers Series 309, William Davidson Institute at the University of Michigan Stephen M. Ross Business School. [Downloadable!]
  8. Michele Pellizzari, 2005. "Employers' Search and the Efficiency of Matching," IZA Discussion Papers 1862, Institute for the Study of Labor (IZA). [Downloadable!]
  9. Andrew Atkeson & Patrick J. Kehoe, 1995. "Industry evolution and transition: measuring investment in organization," Staff Report 201, Federal Reserve Bank of Minneapolis. [Downloadable!]
  10. Demiralp, Berna, 2007. "Occupational Self-Selection in a Labor Market with Moral Hazard," MPRA Paper 2314, University Library of Munich, Germany. [Downloadable!]
  11. Greenaway, David & Upward, Richard & Wright, Peter, 2002. "Structural Adjustment and the Sectoral and Geographical Mobility of Labour," CEPR Discussion Papers 3662, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
  12. James A Schmitz & Thomas J Holmes, 1994. "On The Turnover of Business Firms and Business Managers," Working Papers 92-6, Center for Economic Studies, U.S. Census Bureau. [Downloadable!]
  13. Michael P. Keane & Eswar S. Prasad, 1991. "The employment and wage effects of oil price shocks: a sectoral analysis," Discussion Paper / Institute for Empirical Macroeconomics 51, Federal Reserve Bank of Minneapolis. [Downloadable!]
  14. Kambourov, Gueorgui & Manovskii, Iourii, 2004. "Rising Occupational and Industry Mobility in the United States: 1968-1993," IZA Discussion Papers 1110, Institute for the Study of Labor (IZA). [Downloadable!]
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  15. Bachmann, Ronald & Burda, Michael C., 2008. "Sectoral Transformation, Turbulence, and Labor Market Dynamics in Germany," IZA Discussion Papers 3324, Institute for the Study of Labor (IZA). [Downloadable!]
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  16. Giuseppe Moscarini & Francis Vella, 2002. "Aggregate worker reallocation and occupational mobility in the United States: 1971-2000," IFS Working Papers W02/18, Institute for Fiscal Studies. [Downloadable!]
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  17. Lindbeck, Assar, 2001. "Changing Tides for the Welfare State - An Essay," Working Paper Series 550, Research Institute of Industrial Economics. [Downloadable!]
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  18. Donghoon Lee & Kenneth I. Wolpin, 2004. "Intersectoral Labor Mobility and the Growth of the Service Sector," PIER Working Paper Archive 04-036, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania. [Downloadable!]
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  19. Andrew Atkeson & Patrick Kehoe, 1997. "Industry Evolution and Transition: A Neoclassical Benchmark," NBER Working Papers 6005, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  20. Boyan Jovanovic & Yaw Nyarko, 1996. "Stepping Stone Mobility," NBER Working Papers 5651, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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