Cyclical Unemployment: Sectoral Shifts or Aggregate Disturbances?

Cyclical Unemployment: Sectoral Shifts or Aggregate Disturbances?

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Cyclical Unemployment: Sectoral Shifts or Aggregate Disturbances?

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