Replication data for: The Ins and Outs of Cyclical Unemployment
Principal Investigator(s): View help for Principal Investigator(s) Michael W. L. Elsby; Ryan Michaels; Gary Solon
Version: View help for Version V1
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Project Citation:
Elsby, Michael W. L., Michaels, Ryan, and Solon, Gary. Replication data for: The Ins and Outs of Cyclical Unemployment. Nashville, TN: American Economic Association [publisher], 2009. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-12. https://doi.org/10.3886/E114041V1
Project Description
Summary:
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A dominant trend in recent modeling of labor market fluctuations is to
treat unemployment inflows as acyclical. This trend has been encouraged
by recent influential papers that stress the role of longer unemployment
spells, rather than more unemployment spells, in accounting
for recessionary unemployment. After reviewing an empirical literature
going back several decades, we apply a convenient log change
decomposition to Current Population Survey data to characterize
rising unemployment in each postwar recession. We conclude that a
complete understanding of cyclical unemployment requires an explanation
of countercyclical inflow rates, especially for job losers (layoffs),
as well as procyclical outflow rates. (JEL E24, E32)
Scope of Project
JEL Classification:
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E24 Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
E32 Business Fluctuations; Cycles
E24 Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
E32 Business Fluctuations; Cycles
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