What Drives the Speed of Job Reallocation During Episodes of Massive Adjustment?

Stepan Jurajda and Katherine Terrell

No 432, William Davidson Institute Working Papers Series from William Davidson Institute at the University of Michigan

Abstract: This paper uses individual-level data to characterize economy-wide job creation and destruction during periods of massive structural adjustment. We contrast the gradualist Czech and the rapid Estonian approach to the destruction of the communist economy to provide evidence on selected macroeconomic theories of reallocation with frictions. We find that gradualism (slowing down job destruction) effectively synchronizes job creation and destruction. Drastic job destruction leads to little or no slowdown of job creation. Small newly established firms are the under-researched fountainhead of jobs during the transition from communist to market oriented economies.

Keywords: job creation; job destruction; transition (search for similar items in EconPapers)
JEL-codes: E0 J2 O1 O4 P2 (search for similar items in EconPapers)
Pages: pages
Date: 2002-01-01
New Economics Papers: this item is included in nep-ent, nep-lab and nep-tra
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (19)

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Related works:
Working Paper: What Drives the Speed of Job Reallocation During Episodes of Massive Adjustment? (2002)
Working Paper: What Drives the Speed of Job Reallocation During Episodes of Massive Adjustment? (2002)
Working Paper: What Drives the Speed of Job Reallocation during Episodes of Massive Adjustment? (2001)
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