Cyclical Unemployment: Sectoral Shifts or Aggregate Disturbances?

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Cyclical Unemployment: Sectoral Shifts or Aggregate Disturbances?

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dc.contributor.author Abraham, Katharine G.
dc.contributor.author Katz, Lawrence F.
dc.date.accessioned 2009-12-08T21:34:00Z
dc.date.issued 1986
dc.identifier.citation Abraham, Katharine G., and Lawrence F. Katz. 1986. Cyclical unemployment: Sectoral shifts or aggregate disturbances? Journal of Political Economy 94(3) Part 1: 507-522. en_US
dc.identifier.issn 0022-3808 en_US
dc.identifier.uri http://nrs.harvard.edu/urn-3:HUL.InstRepos:3442781
dc.description.abstract Recent work by David Lilien has argued that the positive correlation between the dispersion of employment growth rates across sectors (a) and the unemployment rate implies that sectoral shifts in labor demand are responsible for a substantial fraction of cyclical variation in unemployment. This paper demonstrates that, under empirically satisfied conditions, traditional single-factor business-cycle models will produce a positive correlation between (sigma) and the unemployment rate. Information on the job vacancy rate permits one to distinguish between a pure sectoral shift and a pure aggregate demand interpretation of this positive correlation. The finding that a and the volume of help wanted advertising (a job vacancy proxy) are negatively related supports an aggregate demand interpretation. en_US
dc.description.sponsorship Economics en_US
dc.language.iso en_US en_US
dc.publisher University of Chicago Press en_US
dc.relation.isversionof http://www.jstor.org/stable/1833046 en_US
dash.license LAA
dc.title Cyclical Unemployment: Sectoral Shifts or Aggregate Disturbances? en_US
dc.type Journal Article en_US
dc.description.version Version of Record en_US
dc.relation.journal Journal of Political Economy -Chicago- en_US
dash.depositing.author Katz, Lawrence F.
dc.date.available 2009-12-08T21:34:00Z

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  • FAS Scholarly Articles [6464]
    Peer reviewed scholarly articles from the Faculty of Arts and Sciences of Harvard University

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