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Employment Reallocation and Unemployment Revisited: A Quantile Regression Approach

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  • T. Panagiotidis
  • G. Pelloni

Abstract

This study revisits the sectoral shifts hypothesis for the US for the period 1948 to 2011. A quantile regression approach is employed in order to investigate the asymmetric nature of the relationship between sectoral employment and unemployment. Significant asymmetries emerge. Lilien’s dispersion index is significant only for relatively high levels of unemployment and becomes insignificant for low levels suggesting that reallocation affects unemployment only when the latter is high. More job reallocation is associated with higher unemployment.

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Paper provided by Dipartimento Scienze Economiche, Universita' di Bologna in its series Working Papers with number wp881.

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Date of creation: May 2013
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Handle: RePEc:bol:bodewp:wp881

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  1. Theodore Panagiotidisa & Gianluigi Pellonib & Wolfgang Polasekc, 2003. "Macroeconomic Effects of Reallocation Shocks:A generalised impulse response function analysis for three European countries," Economics and Finance Discussion Papers, Economics and Finance Section, School of Social Sciences, Brunel University 03-06, Economics and Finance Section, School of Social Sciences, Brunel University.
  2. Lilien, David M, 1982. "Sectoral Shifts and Cyclical Unemployment," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 90(4), pages 777-93, August.
  3. Michael P. Keane, 1991. "Individual heterogeneity and interindustry wage differentials," Discussion Paper / Institute for Empirical Macroeconomics, Federal Reserve Bank of Minneapolis 54, Federal Reserve Bank of Minneapolis.
  4. Steven J. Davis & John Haltiwanger, 1996. "On the Driving Forces Behind Cyclical Movement, in Employment and Job Reallocation," NBER Working Papers 5775, National Bureau of Economic Research, Inc.
  5. Panagiotidis, Theodore & Pelloni, Gianluigi, 2007. "Nonlinearity In The Canadian And U.S. Labor Markets: Univariate And Multivariate Evidence From A Battery Of Tests," Macroeconomic Dynamics, Cambridge University Press, Cambridge University Press, vol. 11(05), pages 613-637, November.
  6. Gianluigi Pelloni & Wolfgang Polasek, 2003. "Macroeconomic Effects of Sectoral Shocks in Germany, The U.K. and, The U.S.: A VAR-GARCH-M Approach," Computational Economics, Society for Computational Economics, Society for Computational Economics, vol. 21(1_2), pages 65-85, 02.
  7. Zivot, Eric & Andrews, Donald W K, 1992. "Further Evidence on the Great Crash, the Oil-Price Shock, and the Unit-Root Hypothesis," Journal of Business & Economic Statistics, American Statistical Association, American Statistical Association, vol. 10(3), pages 251-70, July.
  8. Loungani, Prakash, 1986. "Oil Price Shocks and the Dispersion Hypothesis," The Review of Economics and Statistics, MIT Press, vol. 68(3), pages 536-39, August.
  9. Abraham, Katharine G. & Katz, Lawrence F., 1986. "Cyclical Unemployment: Sectoral Shifts or Aggregate Disturbances?," Scholarly Articles 3442781, Harvard University Department of Economics.
  10. Giovanni Gallipoli & Gianluigi Pelloni, 2008. "Aggregate Shocks vs Reallocation Shocks: an Appraisal of the Applied Literature," Working Paper Series, The Rimini Centre for Economic Analysis 27-08, The Rimini Centre for Economic Analysis, revised Jan 2008.
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Cited by:
  1. G. Gallipoli & G. Pelloni, 2013. "Macroeconomic Effects of Job Reallocations: A Survey," Working Papers wp897, Dipartimento Scienze Economiche, Universita' di Bologna.

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