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The Surprising Symmetry of Gross Job Flows

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  • Christopher L. Foote

Abstract

A large literature attempts to explain the asymmetric behavior of job destruction and job creation over the business cycle. This paper contends that much of this asymmetry is spurious. Analyzing gross flows in relation to the net flow virtually eliminates cyclical asymmetry in annual data and substantially reduces it in quarterly data. To the extent that gross flows are symmetric, there is a fundamental identification problem in moving between gross flows and the net flow that is reminiscent of the earlier empirical literature on sectoral shifts.

Suggested Citation

  • Christopher L. Foote, 1997. "The Surprising Symmetry of Gross Job Flows," NBER Working Papers 6226, National Bureau of Economic Research, Inc.
  • Handle: RePEc:nbr:nberwo:6226
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    File URL: http://www.nber.org/papers/w6226.pdf
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    References listed on IDEAS

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    1. Mortensen, Dale & Pissarides, Christopher, 2011. "Job Creation and Job Destruction in the Theory of Unemployment," Economic Policy, Russian Presidential Academy of National Economy and Public Administration, vol. 1, pages 1-19.
    2. Abraham, Katharine G & Katz, Lawrence F, 1986. "Cyclical Unemployment: Sectoral Shifts or Aggregate Disturbances?," Journal of Political Economy, University of Chicago Press, vol. 94(3), pages 507-522, June.
    3. Steven J. Davis & John C. Haltiwanger & Scott Schuh, 1998. "Job Creation and Destruction," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262540932, January.
    4. Christopher L. Foote, 1998. "Trend Employment Growth and the Bunching of Job Creation and Destruction," The Quarterly Journal of Economics, Oxford University Press, vol. 113(3), pages 809-834.
    5. Ricardo J. Caballero & Mohamad L. Hammour, 1996. "On the Timing and Efficiency of Creative Destruction," The Quarterly Journal of Economics, Oxford University Press, vol. 111(3), pages 805-852.
    6. Caballero, Ricardo J & Hammour, Mohamad L, 1994. "The Cleansing Effect of Recessions," American Economic Review, American Economic Association, vol. 84(5), pages 1350-1368, December.
    7. Lilien, David M, 1982. "Sectoral Shifts and Cyclical Unemployment," Journal of Political Economy, University of Chicago Press, vol. 90(4), pages 777-793, August.
    8. Boeri, Tito, 1996. "Is Job Turnover Countercyclical?," Journal of Labor Economics, University of Chicago Press, vol. 14(4), pages 603-625, October.
    9. Jonathan S. Leonard, 1986. "In the Wrong Place at the Wrong Time: The Extent of Frictional and Structural Unemployment," NBER Working Papers 1979, National Bureau of Economic Research, Inc.
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    Cited by:

    1. Karen Mumford & Peter N. Smith, "undated". "Job Reallocation and Average Job Tenure: Theory and Workplace Evidence From Australia," Discussion Papers 00/01, Department of Economics, University of York.
    2. Harald Dale-Olsen & Dag Rønningen, 2000. "The Importance of Definitions of Data and Observation Frequen-cies for Job and Worker Flows - Norwegian Experiences 1996-1997," Discussion Papers 278, Statistics Norway, Research Department.
    3. repec:eee:labchp:v:3:y:1999:i:pb:p:2711-2805 is not listed on IDEAS
    4. repec:iab:iabmit:v:33:i:4:p:594-608 is not listed on IDEAS

    More about this item

    JEL classification:

    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles

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