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The Contribution of Large and Small Employers to Job Creation in Times of High and Low Unemployment

Listed author(s):
  • Giuseppe Moscarini

    (Yale University)

  • Fabien Postel-Vinay

    (Département d'économie)

We document a negative correlation, at business cycle frequencies, between the net job creation rate of large employers and the level of aggregate unemployment that is much stronger than for small employers. The differential growth rate of employment between initially large and small employers has an unconditional correlation of -0.5 with the unemployment rate, and varies by about 5 percent over the business cycle. We exploit several datasets from the United States, Denmark, and France, both repeated cross sections and job flows with employer longitudinal information, spanning the last four decades and several business cycles. We discuss implications for theories of factor demand.

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File URL: http://spire.sciencespo.fr/hdl:/2441/59cr4u3mmr9pobrceptvua5g8c/resources/contribution-of-large-and-small-employers.pdf
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Paper provided by Sciences Po in its series Sciences Po publications with number info:hdl:2441/59cr4u3mmr9pobrceptvua5g8c.

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Date of creation: Oct 2012
Publication status: Published in American Economic Review, 2012, vol. 102, pp.2509-2539
Handle: RePEc:spo:wpmain:info:hdl:2441/59cr4u3mmr9pobrceptvua5g8c
Contact details of provider: Web page: http://www.sciencespo.fr/

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  1. Bachmann, Ronald & David, Peggy, 2009. "The importance of two-sided heterogeneity for the cyclicality of labour market dynamics," Technical Reports 2009,05, Technische Universität Dortmund, Sonderforschungsbereich 475: Komplexitätsreduktion in multivariaten Datenstrukturen.
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