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Is Job Turnover Countercyclical?

  • Boeri, Tito

In recent years several models have been developed in an attempt to explain countercyclical movements of job turnover, the sum of gross job creation and destruction rates. However, only in the United States is a negative and statistically significant correlation between job turnover and employment growth actually observed. In the other countries studied, job turnover is either acyclical or mildly procyclical. Rather than being associated with the greater flexibility of the United States compared with the Western European labor markets, these asymmetries in the cyclical behavior of gross job flows can be attributed to statistical artifacts, namely, with the fact that U.S. job turnover statistics underrepresent the small business sector and with regression to the mean effects. Copyright 1996 by University of Chicago Press.

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File URL: http://dx.doi.org/10.1086/209824
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Article provided by University of Chicago Press in its journal Journal of Labor Economics.

Volume (Year): 14 (1996)
Issue (Month): 4 (October)
Pages: 603-25

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Handle: RePEc:ucp:jlabec:v:14:y:1996:i:4:p:603-25
Contact details of provider: Web page: http://www.journals.uchicago.edu/JOLE/

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  1. Ricardo J. Caballero, 1991. "A Fallacy of Composition," NBER Working Papers 3735, National Bureau of Economic Research, Inc.
  2. Boeri, Tito & Cramer, Ulrich, 1992. "Employment growth, incumbents and entrants : Evidence from Germany," International Journal of Industrial Organization, Elsevier, vol. 10(4), pages 545-565, December.
  3. Steven J. Davis & John Haltiwanger, 1990. "Gross Job Creation and Destruction: Microeconomic Evidence and Macroeconomic Implications," NBER Chapters, in: NBER Macroeconomics Annual 1990, Volume 5, pages 123-186 National Bureau of Economic Research, Inc.
  4. Bertola, Giuseppe, 1990. "Job security, employment and wages," European Economic Review, Elsevier, vol. 34(4), pages 851-879, June.
  5. Burda, Michael C & Wyplosz, Charles, 1993. "Gross Worker and Job Flows in Europe," CEPR Discussion Papers 868, C.E.P.R. Discussion Papers.
  6. Oliver Jean Blanchard & Peter Diamond, 1989. "The Beveridge Curve," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 20(1), pages 1-76.
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