Did the Housing Price Bubble Clobber Local Labor Market Job and Worker Flows When It Burst?
We use the Census Bureau's Quarterly Workforce Indicators and the Federal Housing Finance Agency's House Price Indices to study the effects of the housing price bubble on local labor markets. We show that the 35 MSAs in the top decile of the house price boom were most severely impacted. Their stable job employment fell much more than the national average. Their real wage rates did not fall as fast as the national average. Accessions fell much faster than average while separations were constant. Job creations fell substantially while destructions rose slightly.
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Volume (Year): 102 (2012)
Issue (Month): 3 (May)
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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.:
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"National Estimates of Gross Employment and Job Flows from the Quarterly Workforce Indicators with Demographic and Industry Detail,"
10-11, Center for Economic Studies, U.S. Census Bureau.
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- John M. Abowd & Bryce E. Stephens & Lars Vilhuber & Fredrik Andersson & Kevin L. McKinney & Marc Roemer & Simon Woodcock, 2002.
"The LEHD Infrastructure Files and the Creation of the Quarterly Workforce Indicators,"
Longitudinal Employer-Household Dynamics Technical Papers
2002-05, Center for Economic Studies, U.S. Census Bureau.
- John M. Abowd & Bryce E. Stephens & Lars Vilhuber & Fredrik Andersson & Kevin L. McKinney & Marc Roemer & Simon Woodcock, 2009. "The LEHD Infrastructure Files and the Creation of the Quarterly Workforce Indicators," NBER Chapters, in: Producer Dynamics: New Evidence from Micro Data, pages 149-230 National Bureau of Economic Research, Inc.
- John Abowd & Bryce Stephens & Lars Vilhuber, 2006. "The LEHD Infrastructure Files and the Creation of the Quarterly Workforce Indicators," Longitudinal Employer-Household Dynamics Technical Papers 2006-01, Center for Economic Studies, U.S. Census Bureau.
- Moretti, Enrico, 2010.
"Local Labor Markets,"
IZA Discussion Papers
4905, Institute for the Study of Labor (IZA).
- John M. Abowd & Patrick Corbel & Francis Kramarz, 1999.
"The Entry And Exit Of Workers And The Growth Of Employment: An Analysis Of French Establishments,"
The Review of Economics and Statistics,
MIT Press, vol. 81(2), pages 170-187, May.
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- John M. Abowd & Patrick Corbel & Francis Kramarz, 1996. "The Entry and Exit of Workers and the Growth of Employment: An Analysis of French Establishments," NBER Working Papers 5551, National Bureau of Economic Research, Inc.
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