Economics at your fingertips  

Gross Worker Flows over the Business Cycle

Per Krusell, Toshihiko Mukoyama (), Richard Rogerson () and Ayşegül Şahin

American Economic Review, 2017, vol. 107, issue 11, 3447-76

Abstract: 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.

JEL-codes: E24 E32 J22 J31 J64 J65 (search for similar items in EconPapers)
Date: 2017
Note: DOI: 10.1257/aer.20121662
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (7) Track citations by RSS feed

Downloads: (external link) (application/pdf) (application/zip) ... KmowpTe9BqnNvMLAlYBl (application/pdf) ... hzbLmAp4FYQZGLO_oWQU (application/zip)
Access to full text is restricted to AEA members and institutional subscribers.

Related works:
Working Paper: Gross Worker Flows over the Business Cycle (2015) Downloads
Working Paper: Gross worker flows over the business cycle (2015) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link:

Ordering information: This journal article can be ordered from

Access Statistics for this article

American Economic Review is currently edited by Esther Duflo

More articles in American Economic Review from American Economic Association Contact information at EDIRC.
Bibliographic data for series maintained by Michael P. Albert ().

Page updated 2019-02-10
Handle: RePEc:aea:aecrev:v:107:y:2017:i:11:p:3447-76