학술논문
Comparative Advantage in Cyclical Unemployment
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- 영문명
- Comparative Advantage in Cyclical Unemployment
- 발행기관
- 한국계량경제학회
- 저자명
- Mark Bils Yongsung Chang Sun-Bin Kim
- 간행물 정보
- 『한국계량경제학회 학술대회 논문집』2007년 하계학술대회, 1~60쪽, 전체 60쪽
- 주제분류
- 경제경영 > 경제학
- 파일형태
- 발행일자
- 2007.08.30
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국문 초록
영문 초록
We introduce worker differences in labor supply, reflecting differences in skills and assets, into a model of separations, matching, and unemployment over the business cycle. Separating from employment when unemployment duration is long is particularly costly for workers with high labor supply (low reservation wages). This predicts that workers with low labor supply will sort into the unemployment pool during recessions. This lowers the value of vacancies during recessions–low labor supply workers generate lower rents to employers– and exacerbates the cyclicality of vacancies and unemployment. We examine employment separations and wage cyclicality over the past twenty years for workers in the Survey of Income and Program Participation (SIPP). Separations are noticeably more countercyclical for workers who tend to work less. This pattern is mirrored in wage cyclicality; wages are less procyclical for those who work less.
목차
1. Introduction
2. Model
3. Model Results
4. Cyclicality in Employment and Separations
5. Cyclicality in Wages and Separations across Workers
6. Conclusions
키워드
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