scholarly journals Multiple Job Holding, Local Labor Markets, and the Business Cycle

2016 ◽  
Author(s):  
Barry T. Hirsch ◽  
Muhammad Husain ◽  
John V. Winters
Keyword(s):  
Business Cycle ◽  
Labor Markets ◽  
Local Labor Markets ◽  
The Business Cycle

scholarly journals Multiple job holding, local labor markets, and the business cycle

2016 ◽  
Vol 5 (1) ◽  
Author(s):  
Barry T. Hirsch ◽  
Muhammad M. Husain ◽  
John V. Winters
Keyword(s):  
Business Cycle ◽  
Labor Markets ◽  
Local Labor Markets ◽  
The Business Cycle

Fluctuations and Rigidities in Local Labor Markets. Part 1: Theory and Evidence

1983 ◽  
Vol 15 (2) ◽  
pp. 165-185 ◽  
Author(s):  
G L Clark
Keyword(s):  
Spectral Analysis ◽  
Labor Market ◽  
Business Cycle ◽  
Labor Markets ◽  
Local Labor Markets ◽  
Hours Worked ◽  
Long Run ◽  
Short Run ◽  
The Business Cycle ◽  
Us Cities

Cyclical sensitivity in employment, wages, and hours worked are explored with reference to three industries and eleven US cities over the period 1972–1980. Conventional neoclassical discrete-exchange models of the labor market are shown to be inadequate because of marked rigidities in the patterns of short-run adjustment. Money wages are very stable, being dominated by a long-run trend, and firms tend to adjust hours worked and only then employment in the short run. There are, however, significant interregional variations in these patterns within the same industry. Spectral analysis and tests for periodicities in the patterns of residuals derived from trend-line estimates of money wages confirm a supposition that urban Phillips curves do not exist. The evidence supports the implicit notion of contract theory that continuous employer-worker relationships exist over the business cycle. The question of how useful, in general, this theory might be is left open for the present.

Mismatch

2007 ◽  
Vol 97 (4) ◽  
pp. 1074-1101 ◽  
Author(s):  
Robert Shimer
Keyword(s):  
Business Cycle ◽  
Labor Markets ◽  
Dynamic Model ◽  
Duration Dependence ◽  
Cycle Frequency ◽  
Separation Rate ◽  
The Business Cycle ◽  
Job Finding

This paper develops a dynamic model of mismatch. Workers and jobs are randomly allocated to labor markets. Each market clears, but some have excess (unemployed) workers and some have excess (vacant) jobs. As workers and jobs switch markets, unemployed workers find vacancies and employed workers become unemployed. The model is quantitatively consistent with the business cycle frequency comovement of unemployment, vacancies, and the job finding rate and explains much of these variables' volatility. It can also address cyclicality in the separation rate into unemployment and duration dependence in the job finding rate. The results are robust to some nonrandom mobility. (JEL E24, J41, J63, J64)

Stock Returns and the Business Cycle

CFA Digest ◽  
2005 ◽  
Vol 35 (2) ◽  
pp. 42-43
Author(s):  
Daniel B. Cashion
Keyword(s):  
Business Cycle ◽  
Stock Returns ◽  
The Business Cycle

EXPANSIONS AND RECESSIONS IN THE MEXICAN STATES: A CLASSICAL BUSINESS CYCLES APPROACH

2017 ◽  
Vol 3 (5) ◽  
pp. 32
Author(s):  
Pablo Mejía-Reyes
Keyword(s):  
Business Cycles ◽  
Business Cycle ◽  
Monthly Basis ◽  
Production Index ◽  
Clear Cut ◽  
Output Measure ◽  
Central Regions ◽  
The Business Cycle ◽  
National Business ◽  
Cycle Indicator

This paper aims to document expansions and recessions characteristics for 17 states of Mexico over the period 1993-2006 by using a classical business cycle approach. We use the manufacturing production index for each state as the business cycle indicator since it is the only output measure available on a monthly basis. According to this approach, we analyse asymmetries in mean, volatility and duration as well as synchronisation over the business cycle regimes (expansions and recessions) for each case. Our results indicate that recessions are less persistent and more volatile (in general) than expansions in most Mexican states; yet, there is no clear cut evidence on mean asymmetries. In turn, there seems to be strong links between the business cycle regimes within the Northern and Central regions of the country and between states with similar industrialisation patterns, although it is difficult to claim that a national business cycle exists.

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