Finance and Economics Discussion Series - Explaining Cyclical Movements in Employment: Creative Destruction or Changes in Utilization (Paperback)

An important step in understanding why employment fluctuates cyclically is determining the relative importance of cyclical movements in permanent and temporary plant-level employment changes. If movements in permanent employment changes are important, then recessions are times when the destruction of job specific capital picks up and/or investment in new job capital slows. If movements in temporary employment changes are important, then employment fluctuations are related to the temporary movement of workers across activities (e.g., from work to home production or search and back again) as the relative costs/benefits of these activities change. I estimate that in the manufacturing sector temporary employment changes account for approximately 60 percent of the change in employment growth over the cycle. However, if permanent employment changes create and destroy more capital than temporary employment changes, then their economic consequences would be relatively greater. The correlation between gross permanent employment changes and capital intensity across industries supports the hypothesis that permanent employment changes do create and destroy more capital than temporary employment changes.

General

Imprint:	Bibliogov
Country of origin:	United States
Release date:	February 2013
First published:	February 2013
Authors:	Andrew Figura
Dimensions:	246 x 189 x 2mm (L x W x T)
Format:	Paperback - Trade
Pages:	38
ISBN-13:	978-1-288-70946-5
Categories:	Books > Social sciences > Politics & government > General Promotions
LSN:	1-288-70946-3
Barcode:	9781288709465

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