The Contribution of Large and Small Employers to Job Creation in Times of High and Low Unemployment
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- Giuseppe Moscarini
- Department of Economics, Yale University, PO Box 208268, New Haven, CT 06520-8268, and NBER.
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- Fabien Postel-Vinay
- Department of Economics, University of Bristol, 8 Woodland Road, Bristol BS8 1TN, United Kingdom, and Sciences Po, Paris.
書誌事項
- 公開日
- 2012-10-01
- DOI
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- 10.1257/aer.102.6.2509
- 公開者
- American Economic Association
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説明
<jats:p> We document a negative correlation, at business cycle frequencies, between the net job creation rate of large employers and the level of aggregate unemployment that is much stronger than for small employers. The differential growth rate of employment between initially large and small employers has an unconditional correlation of —0.5 with the unemployment rate, and varies by about 5 percent over the business cycle. We exploit several datasets from the United States, Denmark, and France, both repeated cross sections and job flows with employer longitudinal information, spanning the last four decades and several business cycles. We discuss implications for theories of factor demand. (JEL D22, E23, E32, J23, L25) </jats:p>
収録刊行物
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- American Economic Review
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American Economic Review 102 (6), 2509-2539, 2012-10-01
American Economic Association
