The Timing of Labor Reallocation and the Business Cycle
نویسنده
چکیده
In this paper we study the cyclical behavior of job and worker flows. Wefindfor the Netherlands that employment and unemployment flows are large, relative to the stocks, that both the sum ofemployment in and outflow and the sum of job creation and destruction (je and jd) move countercyclical. Other issues that we examined include the importance ofaggregate vs. sectoral shocks, the persistence of je and jd over the cycle and the relation between job and worker flows. The empirical results can be explained with a model in which the timing of labor reallocation is endogenous and concentrated in recessions. (JEL classification: E24 E32 J20 J60 L60,
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