The Timing of Mass Layoff Episodes: Evidence from U.S. Microdata

Alison E. Weingarden

No 2017-088, Finance and Economics Discussion Series from Board of Governors of the Federal Reserve System (U.S.)

Abstract: This paper studies employment decisions at U.S. companies over the 2007-2012 period, during and after the Great Recession. To this end, I build a panel dataset that matches publicly-listed companies' financial reports to their announced layoff episodes. Using limited dependent variable regressions, I find that layoffs respond to accumulated changes in a company's financial conditions. While recent financial changes have the largest impacts on layoff propensities, financial changes over at least four previous quarters appear to have additional marginal effects.

Keywords: Downsizing; Employment adjustment costs (search for similar items in EconPapers)
JEL-codes: E24 J21 J63 (search for similar items in EconPapers)
Pages: 32 pages
Date: 2017-08-22
New Economics Papers: this item is included in nep-lab and nep-mac
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Persistent link: https://EconPapers.repec.org/RePEc:fip:fedgfe:2017-88

DOI: 10.17016/FEDS.2017.088

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