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Job Search Behavior over the Business Cycle

Author

Listed:
  • Toshihiko Mukoyama
  • Christina Patterson
  • Ayşegül Şahin

Abstract

We create a novel measure of job search effort exploiting the American Time Use and Current Population Surveys. We examine the cyclicality of search effort using time-series, cross-state, and individual variation and find that it is countercyclical. We then set up a search and matching model with endogenous search effort and show that search effort does not amplify labor market fluctuations but rather dampens them. Lastly, we examine the role of search effort in driving recent unemployment dynamics and show that the unemployment rate would have been 0.5 to 1 percentage points higher in the 2008–2014 period had search effort not increased.

Suggested Citation

  • Toshihiko Mukoyama & Christina Patterson & Ayşegül Şahin, 2018. "Job Search Behavior over the Business Cycle," American Economic Journal: Macroeconomics, American Economic Association, vol. 10(1), pages 190-215, January.
    • Handle: RePEc:aea:aejmac:v:10:y:2018:i:1:p:190-215
    Note: DOI: 10.1257/mac.20160202
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    JEL classification:

    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • J22 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Time Allocation and Labor Supply
    • J64 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Unemployment: Models, Duration, Incidence, and Job Search

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    1. Job Search Behavior over the Business Cycle (AEJ:MA 2018) in ReplicationWiki

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