Did the job ladder fail after the Great Recession?

Moscarini, Giuseppe and Postel-Vinay, Fabien (2013) Did the job ladder fail after the Great Recession? CFM discussion paper series (CFM-DP2013-4). Centre For Macroeconomics, London, UK.

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Abstract

We study employment reallocation across heterogeneous employers through the lens of a dynamic job-ladder model, where more productive employers spend more hiring e�ort and are more likely to succeed in hiring because they offer more. As a consequence, an employer's size is a relevant proxy for productivity. We exploit newly available U.S. data from JOLTS on employment flows by size of the establishment. Our parsimonious job ladder model fits the facts quite well, and implies `true' vacancy postings by size that are more in line with gross grows and intuition than JOLTS' actual measures of job openings, previously criticized by other authors. Focusing on the U.S. experience in and around the Great Recession, our main finding is that the job ladder stopped working in the GR and has not yet fully resumed.

Item Type:	Monograph (Discussion Paper)
Official URL:	http://www.centreformacroeconomics.ac.uk/Home.aspx
Additional Information:	© 2013 The Authors
Divisions:	Centre for Macroeconomics
Subjects:	H Social Sciences > HD Industries. Land use. Labor
Date Deposited:	28 Jul 2014 08:50
Last Modified:	13 Sep 2024 20:26
Funders:	NSF (SES 1123021)
URI:	http://eprints.lse.ac.uk/id/eprint/58315

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