The cyclicality of job-to-job transitions and its implications for aggregate productivity
Toshihiko Mukoyama
Journal of Economic Dynamics and Control, 2014, vol. 39, issue C, 1-17
Abstract:
This paper analyzes the job-to-job transitions of workers in the United States. First, I propose a new method of correcting the time-aggregation bias. The bias correction does not significantly alter the cyclical properties of the job-to-job transition rates. The bias-corrected series from 1996 to 2011 reveals a procyclical pattern of job-to-job transitions and a large decline since the beginning of the 2000s. Second, I construct a model of on-the-job search and explore the implications of this phenomenon. The calibrated model quantifies the effect of the decline in the reallocation of workers through job-to-job transitions on total factor productivity (TFP). From 2009 to 2011, the model accounts for about 0.4–0.5% annual decline in TFP.
Keywords: Job-to-job transition; Time-aggregation bias; On-the-job search (search for similar items in EconPapers)
JEL-codes: E24 E32 J62 (search for similar items in EconPapers)
Date: 2014
References: Add references at CitEc
Citations: View citations in EconPapers (25)
Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0165188913002406
Full text for ScienceDirect subscribers only
Related works:
Working Paper: The cyclicality of job-to-job transitions and its implications for aggregate productivity (2013) 
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:eee:dyncon:v:39:y:2014:i:c:p:1-17
DOI: 10.1016/j.jedc.2013.12.004
Access Statistics for this article
Journal of Economic Dynamics and Control is currently edited by J. Bullard, C. Chiarella, H. Dawid, C. H. Hommes, P. Klein and C. Otrok
More articles in Journal of Economic Dynamics and Control from Elsevier
Bibliographic data for series maintained by Catherine Liu ().
