全球智库信息集成服务系统(G2TT): DP12343 Worker Churn in the Cross Section and Over Time: New Evidence from Germany

G2TT

来源类型	Discussion paper
规范类型	论文
来源ID	DP12343
	DP12343 Worker Churn in the Cross Section and Over Time: New Evidence from Germany
	Ruediger Bachmann; Christian Bayer; Christian Merkl; Stefan Seth; Heiko Stüber; Felix Wellschmied
发表日期	2017-09-30
出版年	2017
语种	英语
摘要	Worker churn, that is, worker flows in excess of job flows, is procyclical in the German labor market. To understand this procyclicality, we study the plant-level connection of churn and employment growth, using the new Administrative Wage and Labor Market Flow Panel from 1975 to 2014, and find that churn rises in the absolute value of employment growth. Analyzing this V-shaped churn-employment growth nexus by worker skill, age, and tenure, we establish that churn is unlikely to result from plant reorganization but rather from the correction of labor market mismatches. Using a simple dynamic labor demand framework, we argue that the cross-sectional evidence on churn can be interpreted as manifestations of idiosyncratically stochastic separation shocks in conjunction with a time-to-hire friction. These shocks become larger and more predictable during booms leading to procyclical churn, which, as we show, (1) increases almost uniformly across the employment growth distribution, and (2) stems almost exclusively from jobto- job transitions. Procyclical churn, thus, reflects a more active reshuffling of workers towards individually better matches in booms.
主题	Monetary Economics and Fluctuations
关键词	Worker churn Employment growth Job flows Worker flows Labor demand Separation shocks Job-to-job transitions Aggregate fluctuations
URL	https://cepr.org/publications/dp12343
来源智库	Centre for Economic Policy Research (United Kingdom)
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/541153
推荐引用方式 GB/T 7714	Ruediger Bachmann,Christian Bayer,Christian Merkl,et al. DP12343 Worker Churn in the Cross Section and Over Time: New Evidence from Germany. 2017.