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Journal Article
The upside of downsizing
Journal Article
The decline of job security in the 1990s: displacement, anxiety, and their effect on wage growth
This article shows that job displacement rates for high-seniority workers and a consistently constructed measure of workers' fears of job loss both rose during the 1990s. It then explores the relationship between these measures of job displacement and worker anxiety and wage growth.
Journal Article
Job loss during the 1990s
Working Paper
Mortality, mass-layoffs, and career outcomes: an analysis using administrative data
Seemingly short-term labor market shocks, such as job displacements, can have persistent effects on workers? earnings, employment, job stability, consumption, and access to health insurance. A long literature suggests such changes in workers? socioeconomic conditions can have potentially important effects on health outcomes, but existing studies associating job loss to health status face several problems of measurement and identification. This paper uses a large longitudinal administrative data set of quarterly earnings and employer records matched to information on individual mortality ...
Working Paper
Restructuring & worker displacement in the Midwest
Working Paper
Downsizing and productivity growth: myth or reality?
Discussion Paper
Aggregate employment fluctuations with microeconomic asymmetries
We provide a simple explanation for the observation that the variance of job destruction is greater than the variance of job creation: job creation is costlier at the margin than job destruction. As Caballero [2] has argued, asymmetric employment adjustment costs at the establishment level need not imply asymmetric volatility of aggregate job flows. We construct an equilibrium model in which (S,s)-type employment policies respond endogenously to aggregate shocks. The microeconomic asymmetries in the model can dampen the response of total job creation to an aggregate shock and cause it to be ...
Working Paper
Aggregate employment fluctuations with microeconomic asymmetries
We provide a simple explanation for the observation that the variance of job destruction is greater than the variance of job creation. In our model profit maximization in the presence of proportional plant-level costs of job creation and destruction implies that shrinking plants are more sensitive than growing plants to aggregate shocks. We describe circumstances in which this microeconomic asymmetry is preserved in the aggregate and show that it can account for asymmetries in the variability of job creation and destruction of the kind observed in the U.S. manufacturing sector. This is so ...