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Revisiting the macroeconomic effects of labor reallocation

Author

Listed:
  • Emmanouil Gkiourkas

    (Department of Economics, University of Macedonia, Greece)

  • Theodore Panagiotidis

    (Department of Economics, University of Macedonia, Greece; The Rimini Centre for Economic Analysis)

  • Gianluigi Pelloni

    (The Rimini Centre for Economic Analysis; Department of Economics, Wilfrid Laurier University, Canada; Department of Economics, University of Bologna, Italy)

Abstract

We revisit the macroeconomic effects of labor reallocation within the framework of Campbell and Kuttner (1996). We re-estimate their model, update the sample, and employ generalized and local impulse response functions. We confirm that total employment responses to reallocation shocks remain significant.

Suggested Citation

  • Emmanouil Gkiourkas & Theodore Panagiotidis & Gianluigi Pelloni, 2017. "Revisiting the macroeconomic effects of labor reallocation," Working Paper series 17-11, Rimini Centre for Economic Analysis.
  • Handle: RePEc:rim:rimwps:17-11
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    References listed on IDEAS

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    More about this item

    Keywords

    labor reallocation; unemployment; sectoral shifts;
    All these keywords.

    JEL classification:

    • C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models
    • C50 - Mathematical and Quantitative Methods - - Econometric Modeling - - - General
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity

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