The long and large decline in state employment growth volatility

Gerald Carlino, Robert H. DeFina and Keith Sill ()

No 11-16, Working Papers from Federal Reserve Bank of Philadelphia

Abstract: This study documents a general decline in the volatility of employment growth during the period 1956 to 2002 and examines its possible sources. The authors use a panel design that exploits the considerable state-level variation in volatility during the period. The roles of monetary policy, oil prices, industrial employment shifts and a coincident index of business cycle variables are explored. Overall, these four variables taken together explain as much as 31 percent of the fluctuations in employment growth volatility. Individually, each of the four factors is found to have significantly contributed to fluctuations in employment growth volatility, although to differing degrees.

Keywords: Employment; Business cycles (search for similar items in EconPapers)
Date: 2011
New Economics Papers: this item is included in nep-mac
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Related works:
Journal Article: The Long and Large Decline in State Employment Growth Volatility (2013)
Journal Article: The Long and Large Decline in State Employment Growth Volatility (2013)
Working Paper: The long and large decline in state employment growth volatility (2009)
Working Paper: The long and large decline in state employment growth volatility (2007)
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