Organizational dynamics over the business cycle: a view on jobless recoveries

Kathryn Koenders and Richard Rogerson

Review, 2005, vol. 87, issue Jul, 555-580

Abstract: This paper proposes a new explanation for the apparent slow growth in employment during the past two recoveries. The authors' explanation emphasizes dynamics within growing organizations and the intertemporal substitution of organizational restructuring. A key implication of the analysis is that recoveries from recessions following long expansions will have slower employment growth. Empirical analysis shows that the recovery that began in 1970 also exhibited slow employment growth, consistent with this prediction of the analysis.

Keywords: Employment; Recessions; Business cycles (search for similar items in EconPapers)
Date: 2005
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Citations: View citations in EconPapers (48)

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