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Federal Reserve Bank of San Francisco
Working Paper Series
The Extent and Cyclicality of Career Changes: Evidence for the U.K
Carlos Carrillo-Tudela
Bart Hobijn
Powen She
Ludo Visschers
Abstract

U.K. data from 1993-2012 suggest that in economic downturns a smaller fraction of unemployed workers change their career when starting a new job. The proportion of total hires involving a career change also drops. This implies that career changes decline during recessions. The results indicate that recessions are times of subdued reallocation rather than of accelerated and involuntary structural transformation.


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Carlos Carrillo-Tudela & Bart Hobijn & Powen She & Ludo Visschers, The Extent and Cyclicality of Career Changes: Evidence for the U.K, Federal Reserve Bank of San Francisco, Working Paper Series 2014-21, 27 Aug 2014.
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Keywords: Labour market turnover; occupational and industry mobility; wage growth
DOI: 10.24148/wp2014-21
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