The Contribution of Large and Small Employers to Job Creation in Times of High and Low Unemployment
We document a negative correlation, at business cycle frequencies, between the net job creation rate of large employers and the level of aggregate unemployment that is much stronger than for small employers. The differential growth rate of employment between initially large and small employers has an unconditional correlation of -0.5 with the unemployment rate, and varies by about 5 percent over the business cycle. We exploit several datasets from the United States, Denmark, and France, both repeated cross sections and job flows with employer longitudinal information, spanning the last four decades and several business cycles. We discuss implications for theories of factor demand. (JEL D22, E23, E32, J23, L25)
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Volume (Year): 102 (2012)
Issue (Month): 6 (October)
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- Ronald Bachmann & Peggy David, 2009.
"The Importance of Two-Sided Heterogeneity for the Cyclicality of Labour Market Dynamics,"
Ruhr Economic Papers
0124, Rheinisch-Westfälisches Institut für Wirtschaftsforschung, Ruhr-Universität Bochum, Universität Dortmund, Universität Duisburg-Essen.
- Ronald Bachmann & Peggy David, 2009. "The Importance of Two-Sided Heterogeneity for the Cyclicality of Labour Market Dynamics," SFB 649 Discussion Papers SFB649DP2009-017, Sonderforschungsbereich 649, Humboldt University, Berlin, Germany.
- Bachmann, Ronald & David, Peggy, 2010. "The Importance of Two-Sided Heterogeneity for the Cyclicality of Labour Market Dynamics," IZA Discussion Papers 5358, Institute for the Study of Labor (IZA).
- Bachmann, Ronald & David, Peggy, 2009. "The importance of two-sided heterogeneity for the cyclicality of labour market dynamics," Technical Reports 2009,05, Technische Universität Dortmund, Sonderforschungsbereich 475: Komplexitätsreduktion in multivariaten Datenstrukturen.
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