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Gross Worker Flows over the Business Cycle
Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies. University of Göteborg, Sweden.
Number of Authors: 42017 (English)In: The American Economic Review, ISSN 0002-8282, E-ISSN 1944-7981, Vol. 107, no 11, p. 3447-3476Article in journal (Refereed) Published
Abstract [en]

We build a hybrid model of the aggregate labor market that features both standard labor supply forces and frictions in order to study the cyclical properties of gross worker flows across the three labor market states: employment, unemployment, and nonparticipation. Our parsimonious model is able to capture the key features of the cyclical movements in gross worker flows. Despite the fact that the wage per efficiency unit is constant over time, intertemporal substitution plays an important role in shaping fluctuations in the participation rate.

Place, publisher, year, edition, pages
2017. Vol. 107, no 11, p. 3447-3476
National Category
Economics and Business
Identifiers
URN: urn:nbn:se:su:diva-150999DOI: 10.1257/aer.20121662ISI: 000416398200007OAI: oai:DiVA.org:su-150999DiVA, id: diva2:1173010
Available from: 2018-01-11 Created: 2018-01-11 Last updated: 2018-01-11Bibliographically approved

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