Firms' relative sensitivity to aggregate shocks and the dynamics of gross job flows
نویسندگان
چکیده
منابع مشابه
Gross Job Flows
Working papers from the Stockholm Institute of Transition Economics and East European Economies are preliminary in nature, and are circulated to promote discussion and critical comment. Any references to individual working papers should clearly state that the paper is preliminary. The views expressed here are the authors' own and not necessarily those of the Institute or any other organization ...
متن کاملUnderstanding aggregate job flows
19 Recent empirical work on plant-level employment dynamics, described in Davis, Haltiwanger, and Schuh (DHS, 1996), represents a challenge to conventional ways of thinking about business cycles. The plant-level data provide concrete evidence against the broad applicability of the representative agent construct. Moreover, the behavior of the macro aggregates based on the plant-level data seem h...
متن کاملFirms and Aggregate Dynamics ∗
We investigate the role of permanent and transitory shocks for firms and aggregate dynamics. We find that permanent shocks to productivity and permanent shifts in the composition of output explain at least 4/5 of firms dynamics. However, these permanent shocks are almost uncorrelated across firms, and are therefore less relevant for aggregate dynamics. Transitory shocks, on the other hand, are ...
متن کاملGross Job Flows Between Plants and Industries
A remarkable feature of the current U.S. economic expansion has been its ability to shrug off the adverse effects of financial crises and economic slowdowns around the world for nearly two years. Employment has been expanding smartly and unemployment has continued to edge down. Recently, however, foreign-sector developments have triggered a sizable shift in the sectoral composition of U.S. empl...
متن کاملEvolutionary Dynamics with Aggregate Shocks
We study the evolution of the continuous-time replicator dynamics when payoffs are subject to aggregate shocks that take the form of a Wiener process. In the absence of " mutation, " the system need not have an ergodic distribution. With mutation, the system does have an ergodic distribution. In the limit as the mutation rate and the variance of the shocks converge to zero, this distribution co...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Labour Economics
سال: 2011
ISSN: 0927-5371
DOI: 10.1016/j.labeco.2010.07.002