Dynamics of labor demand
evidence from plant-level observations and aggregate implications
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Author
Contributions
- Haltiwanger, John C. - Contributor
- Willis, Jonathan L. - Contributor
- National Bureau of Economic Research. - Contributor
Publication
2004 - National Bureau of Economic Research, Cambridge, Mass, Massachusetts
Language
English
Word Count
7,000 words, Guess
Page Count
28 pages
Identifiers
- OCLC Control Number54526477
- Open LibraryOL17619662M
Classifications
- LCCHB1
Description
"This paper studies the dynamics of labor demand at the plant and aggregate levels. The correlation of hours and employment growth is negative at the plant level and positive in aggregate time series. Further, hours and employment growth are about equally volatile at the plant level while hours growth is much less volatile than employment growth in the aggregate data. Given these differences, we specify and estimate the parameters of a plant-level dynamic optimization problem using simulated method of moments to match plant-level observations. Our findings indicate that non-convex adjustment costs are critical for explaining plant-level moments on hours and employment. Aggregation generates time series implications which are broadly consistent with observation. Further, we find that a model with quadratic adjustment costs alone can also broadly match the aggregate facts"--National Bureau of Economic Research web site.
Subjects
Topics
Links
Other Editions
- Dynamics of labor demand
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