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A multisector equilibrium search mod...

Pilossoph, Laura R.

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A multisector equilibrium search model of labor reallocation.

Record Type:	Language materials, printed : Monograph/item
Title/Author:	A multisector equilibrium search model of labor reallocation./
Author:	Pilossoph, Laura R.
Description:	70 p.
Notes:	Source: Dissertation Abstracts International, Volume: 74-11(E), Section: A.
Contained By:	Dissertation Abstracts International74-11A(E).
Subject:	Economics, General. -
Online resource:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=3568417
ISBN:	9781303229138

A multisector equilibrium search model of labor reallocation.
Pilossoph, Laura R.

A multisector equilibrium search model of labor reallocation. - 70 p.

Source: Dissertation Abstracts International, Volume: 74-11(E), Section: A.

Thesis (Ph.D.)--The University of Chicago, 2013.

It is well documented that some unemployment is caused by slow intersectoral labor reallocation. Whether or not the contribution of sectoral reallocation to unemployment responds to increases in the dispersion of sectoral shocks is less clear. In this paper, I argue that the answer to this question depends crucially on how we think about intersectoral worker flows. In a model where gross worker flows exceed net worker flows, shocks that require net reallocation may have little impact on the total number of movers. Relatively unproductive sectors experience an increase in the outflow of labor, while relatively productive sectors experience a decline in the outflow of labor. In the aggregate, the effect on the total number of movers is ambiguous - only a structural model can predict which force will dominate. To this end, I develop a multisector search model of intersectoral labor reallocation that features gross flows in excess of net flows. In a two-sector calibration of the model to construction and non-construction, I examine how the dispersion of sectoral shocks during the Great Recession contributed to unemployment due to frictional intersectoral mobility. Contrary to a long-standing argument articulated in Lilien (1982), the dispersion of shocks hardly increased unemployment due to sectoral reallocation. Consistent with the argument outlined above, while the outflow of labor from construction increased, the inflow decreased relative to the benchmark in which shocks are symmetric.

ISBN: 9781303229138Subjects--Topical Terms:

1017424
Economics, General.

A multisector equilibrium search model of labor reallocation.
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020 $a 9781303229138
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100 1 $a Pilossoph, Laura R. $3 2096216
245 1 2 $a A multisector equilibrium search model of labor reallocation.
300 $a 70 p.
500 $a Source: Dissertation Abstracts International, Volume: 74-11(E), Section: A.
500 $a Advisers: Erik Hurst; Robert Shimer.
502 $a Thesis (Ph.D.)--The University of Chicago, 2013.
520 $a It is well documented that some unemployment is caused by slow intersectoral labor reallocation. Whether or not the contribution of sectoral reallocation to unemployment responds to increases in the dispersion of sectoral shocks is less clear. In this paper, I argue that the answer to this question depends crucially on how we think about intersectoral worker flows. In a model where gross worker flows exceed net worker flows, shocks that require net reallocation may have little impact on the total number of movers. Relatively unproductive sectors experience an increase in the outflow of labor, while relatively productive sectors experience a decline in the outflow of labor. In the aggregate, the effect on the total number of movers is ambiguous - only a structural model can predict which force will dominate. To this end, I develop a multisector search model of intersectoral labor reallocation that features gross flows in excess of net flows. In a two-sector calibration of the model to construction and non-construction, I examine how the dispersion of sectoral shocks during the Great Recession contributed to unemployment due to frictional intersectoral mobility. Contrary to a long-standing argument articulated in Lilien (1982), the dispersion of shocks hardly increased unemployment due to sectoral reallocation. Consistent with the argument outlined above, while the outflow of labor from construction increased, the inflow decreased relative to the benchmark in which shocks are symmetric.
590 $a School code: 0330.
650 4 $a Economics, General. $3 1017424
650 4 $a Economics, Labor. $3 1019135
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690 $a 0510
710 2 $a The University of Chicago. $b Economics. $3 1672980
773 0 $t Dissertation Abstracts International $g 74-11A(E).
790 $a 0330
791 $a Ph.D.
792 $a 2013
793 $a English
856 4 0 $u http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=3568417