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Source: Federal Reserve Bank of Kansas City
Resulting in 1 citation.
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Mustre-Del-Rio, Jose |
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Job Duration and the Cleansing and Sullying: Effects of Recessions Working Paper No. RWP 12-08, Federal Reserve Bank of Kansas City, December 2012. Also: http://www.kansascityfed.org/publicat/reswkpap/pdf/rwp12-08.pdf Cohort(s): NLSY79 Publisher: Federal Reserve Bank of Kansas City Keyword(s): Business Cycles; Job Search; Job Tenure Permission to reprint the abstract has not been received from the publisher. Models of on-the-job search imply that recessions both cleanse and sully the labor market by hastening the termination of low quality matches and stifling the formation of better matches. This paper evaluates these predictions using data from the National Longitudinal Survey of Youth (NLSY) under the hypothesis that match duration reflects quality. The results provide no systematic evidence of the cleansing effect, but do support the sullying effect. This suggests that match quality is procyclical. As predicted by theory, this procyclicality is driven by the decline in quality of matches found through job-to-job transitions during recessions. |
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Bibliography Citation
Mustre-Del-Rio, Jose. "Job Duration and the Cleansing and Sullying: Effects of Recessions." Working Paper No. RWP 12-08, Federal Reserve Bank of Kansas City, December 2012. |