Macroeconomic Effects of Employment Reallocation

Jeffrey Campbell and Kenneth Kuttner

RCER Working Papers from University of Rochester - Center for Economic Research (RCER)

Abstract: Major shifts in employment between industries and between firms within industries usually accompany recessions. Although this observation suggests that exogenous changes in the optimal allocation of labor are an important source of aggregate employment fluctuations, the macroeconomi significance of such shocks has remained unknown. This paper empirically assesses the role of reallocation shocks for cyclical employment fluctuations, and investigates the relationship between inter- and intrasectoral employment flows.

Keywords: EMPLOYMENT; MACROECONOMICS (search for similar items in EconPapers)
JEL-codes: E24 (search for similar items in EconPapers)
Pages: 30 pages
Date: 1996
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Citations: View citations in EconPapers (36)

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Journal Article: Macroeconomic effects of employment reallocation (1996)
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Persistent link: https://EconPapers.repec.org/RePEc:roc:rocher:415

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