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The effect of restructuring on unemployment

Listed author(s):
  • Andrew Figura
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    This paper finds that the permanent job losses associated with industrial restructuring have significantly boosted the variance of unemployment, causing it to rise much higher in recessions than it would have without cyclically correlated restructuring. Moreover, the influence of restructuring has increased noticeably in the 1980s and 1990s, acting to increase economic instability at a time when other factors were operating to reduce it.

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    File URL: http://www.federalreserve.gov/pubs/feds/2003/200356/200356abs.html
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    File URL: http://www.federalreserve.gov/pubs/feds/2003/200356/200356pap.pdf
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    Paper provided by Board of Governors of the Federal Reserve System (U.S.) in its series Finance and Economics Discussion Series with number 2003-56.

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    Date of creation: 2003
    Handle: RePEc:fip:fedgfe:2003-56
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    10. Timothy J. Bartik, 1991. "Who Benefits from State and Local Economic Development Policies?," Books from Upjohn Press, W.E. Upjohn Institute for Employment Research, number wbsle.
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    23. Prescott, Edward C & Visscher, Michael, 1980. "Organization Capital," Journal of Political Economy, University of Chicago Press, vol. 88(3), pages 446-461, June.
    24. Gabriel, Stuart A. & Shack-Marquez, Janice & Wascher, William L., 1993. "Does migration arbitrage regional labor market differentials?," Regional Science and Urban Economics, Elsevier, vol. 23(2), pages 211-233, April.
    25. Manuel Arellano & Stephen Bond, 1991. "Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations," Review of Economic Studies, Oxford University Press, vol. 58(2), pages 277-297.
    26. Lucas, Robert Jr. & Prescott, Edward C., 1974. "Equilibrium search and unemployment," Journal of Economic Theory, Elsevier, vol. 7(2), pages 188-209, February.
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    28. Walter Y. Oi, 1962. "Labor as a Quasi-Fixed Factor," Journal of Political Economy, University of Chicago Press, vol. 70, pages 538-538.
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