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Convergence and Stability in US Regional Employment

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Author Info
Andrew Glyn
Robert Rowthorn

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Abstract

It is widely believed that regional labour markets in the USA are highly flexible, so that employment shocks have only transitory effects on joblessness since induced migration quickly offsets much of the initial impact. However time-series analysis of the response to shocks is very sensitive to errors of measurement in labour market data, and such errors are large in some widely used series which depend on household surveys of limited size. Adjusting for the likelihood magnitude of such errors with some novel statistical approaches, and using a range of data sources, we show that the responsiveness of employment rates to shocks has been rather weak in the USA over the past 30 years, though probably stronger in the 1950s and 1960s. This suggests that flexible regional adjustment is not a major factor behind the contemporary success of monetary union in the USA.

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Paper provided by University of Oxford, Department of Economics in its series Economics Series Working Papers with number 092.

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Date of creation: 2002
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Handle: RePEc:oxf:wpaper:092

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Related research
Keywords: regional employment convergence measurement errors regional adjustment

Find related papers by JEL classification:
C1 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: General
J6 - Labor and Demographic Economics - - Mobility, Unemployment, and Vacancies
N9 - Economic History - - Regional and Urban History
R1 - Urban, Rural, and Regional Economics - - General Regional Economics

References listed on IDEAS
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.:

  1. Perron, Pierre, 1989. "The Great Crash, the Oil Price Shock, and the Unit Root Hypothesis," Econometrica, Econometric Society, vol. 57(6), pages 1361-1401, November. [Downloadable!] (restricted)
    Other versions:
  2. Kiviet, Jan F., 1995. "On bias, inconsistency, and efficiency of various estimators in dynamic panel data models," Journal of Econometrics, Elsevier, vol. 68(1), pages 53-78, July. [Downloadable!] (restricted)
  3. Andrews, Donald W K, 1993. "Exactly Median-Unbiased Estimation of First Order Autoregressive/Unit Root Models," Econometrica, Econometric Society, vol. 61(1), pages 139-65, January. [Downloadable!] (restricted)
  4. Maddala, G S & Wu, Shaowen, 1999. " A Comparative Study of Unit Root Tests with Panel Data and a New Simple Test," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 61(0), pages 631-52, Special I. [Downloadable!] (restricted)
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Cited by:
(explanations, 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.)

  1. Robert Rowthorn & Andrew Glyn, 2006. "Convergence and Stability in U.S. Employment Rates," Contributions to Macroeconomics, Berkeley Electronic Press, vol. 6(1), pages 1368-1368. [Downloadable!] (restricted)
  2. Falko Juessen & Christian Bayer, 2005. "Convergence in West German Regional Unemployment Rates," ERSA conference papers ersa05p410, European Regional Science Association. [Downloadable!]
    Other versions:
  3. George J. Borjas, 2005. "Native Internal Migration and the Labor Market Impact of Immigration," NBER Working Papers 11610, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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This page was last updated on 2008-11-17.

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