Sectoral Reallocation, Employment and Earnings Over the Business Cycle

Ludo Visschers, David Wiczer and Carlos Carrillo-Tudela

No 1648, 2016 Meeting Papers from Society for Economic Dynamics

Abstract: Recessions change job flows, increasing unemployment risk, reducing job-finding rates, and occupational switching rates among those still changing jobs. This article connects these cyclical differences in job flows to differences in the earnings change distribution across the cycle. The connection is natural because earnings change much larger when a worker experiences a job change and even larger when switching occupation. First, we present a statistical analysis of the contribution from (a) the change in the incidence of occupation and job change and (b) the change in the ``return'' to these changes. Then, because job and occupation switching is endogenous we look through the lens of a business cycle model with on-the-job search and occupational mobility.

Date: 2016
New Economics Papers: this item is included in nep-dge and nep-mac
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Persistent link: https://EconPapers.repec.org/RePEc:red:sed016:1648

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