G2TT
来源类型Working Paper
规范类型报告
DOI10.3386/w20698
来源IDWorking Paper 20698
Employment Cyclicality and Firm Quality
Lisa B. Kahn; Erika McEntarfer
发表日期2014-11-24
出版年2014
语种英语
摘要Who fares worse in an economic downturn, low- or high-paying firms? Different answers to this question imply very different consequences for the costs of recessions. Using U.S. employer-employee data, we find that employment growth at low-paying firms is less cyclically sensitive. High-paying firms grow more quickly in booms and shrink more quickly in busts. We show that while during recessions separations fall in both high-paying and low- paying firms, the decline is stronger among low-paying firms. This is particularly true for separations that are likely voluntary. Our findings thus suggest that downturns hinder upward progression of workers toward higher paying firms - the job ladder partially collapses. Workers at the lowest paying firms are 20% less likely to advance in firm quality (as measured by average pay in a firm) in a bust compared to a boom. Furthermore, workers that join firms in busts compared to booms will on average advance only half as far up the job ladder within the first year, due to both an increased likelihood of matching to a lower paying firm and a reduced probability of moving up once matched. Thus our findings can account for some of the lasting negative impacts on workers forced to search for a job in a downturn, such as displaced workers and recent college graduates. For example, differential sorting and lack of upward mobility can account for roughly a third of the initial earnings impacts of graduating into a large downturn.
主题Macroeconomics ; Consumption and Investment ; Business Cycles ; Labor Economics ; Labor Supply and Demand ; Labor Compensation ; Unemployment and Immigration
URLhttps://www.nber.org/papers/w20698
来源智库National Bureau of Economic Research (United States)
引用统计
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/578372
推荐引用方式
GB/T 7714
Lisa B. Kahn,Erika McEntarfer. Employment Cyclicality and Firm Quality. 2014.
条目包含的文件
条目无相关文件。
个性服务
推荐该条目
保存到收藏夹
导出为Endnote文件
谷歌学术
谷歌学术中相似的文章
[Lisa B. Kahn]的文章
[Erika McEntarfer]的文章
百度学术
百度学术中相似的文章
[Lisa B. Kahn]的文章
[Erika McEntarfer]的文章
必应学术
必应学术中相似的文章
[Lisa B. Kahn]的文章
[Erika McEntarfer]的文章
相关权益政策
暂无数据
收藏/分享

除非特别说明,本系统中所有内容都受版权保护,并保留所有权利。