The DOI matches its Crossref record; 5 of the 5 references it cites were found in a registry or an index.
Sectoral Shifts and Cyclical Unemployment
Abstract
A substantial fraction of cyclical unemployment is better characterized as fluctuations of the "frictional" or "natural" rate than as deviations from some relatively stable natural rate. Shifts of employment demand between sectors of the economy necessitate continuous labor reallocation. Since it takes time for workers to find new jobs, some unemployment is unavoidable. This paper presents evidence that most of the unemployment fluctuations of the seventies (unlike those in the sixties) were induced by unusual structural shifts within the U.S. economy. Simple time-series models of layoffs and unemployment are constructed that include a measure of structural shifts within the labor market. These models are estimated and a derived natural rate series is constructed.
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Citations
Cites
Micro-Economic Foundations of Employment and Inflation Theory.
Fisher, M. R., & Phelps, E. S. (1972) · The Economic Journal · doi:10.2307/2230017 · Cited by 848
Unanticipated Money Growth and Unemployment in the United States
Barro, R. J. (1976) · American Economic Review · Cited by 841
Equilibrium search and unemployment
Lucas, R. E., & Prescott, E. C. (1974) · Journal of Economic Theory · doi:10.1016/0022-0531(74)90106-9 · Cited by 677
Rational Expectations, the Real Rate of Interest, and the Natural Rate of Unemployment
Sargent, T. J., Fand, D. I., & Goldfeld, S. M. (1973) · Brookings Papers on Economic Activity · doi:10.2307/2534097 · Cited by 532
A theory of the natural unemployment rate and the duration of employment
Hall, R. E. (1979) · Journal of Monetary Economics · doi:10.1016/0304-3932(79)90001-1 · Cited by 167
Cited by
The Cyclical Behavior of Equilibrium Unemployment and Vacancies
Shimer, R. (2005) · American Economic Review · doi:10.1257/0002828053828572 · Cited by 2,731
Looking into the Black Box: A Survey of the Matching Function
Petrongolo, B., & Pissarides, C. A. (2001) · Journal of Economic Literature · doi:10.1257/jel.39.2.390 · Cited by 2,384
Really Uncertain Business Cycles
Bloom, N., Floetotto, M., Jaimovich, N., Saporta-Eksten, I., & Terry, S. J. (2018) · Econometrica · doi:10.3982/ecta10927 · Cited by 1,120
Oil price shocks and their short- and long-term effects on the Chinese economy
Tang, W., Wu, L., & Zhang, Z. (2010) · Energy Economics · doi:10.1016/j.eneco.2010.01.002 · Cited by 401
Unemployment: Macroeconomic Performance and the Labour Market
Layard, R., Nickell, S., & Jackman, R. (2005) · doi:10.1093/acprof:oso/9780199279166.001.0001 · Cited by 325
Metadata
- Authors
- Lilien, D. M.
- Venue
- Journal of Political Economy
- Publisher
- University of Chicago Press
- Published
- 1982-08
- Volume
- 90
- Issue
- 4
- Pages
- 777-793
- ISSN
- 0022-3808 (ISSN-L)
- 1537-534X
- OpenAlex
- W2091206152
- Cited by
- 1,120
- References
- 5
- FWCI
- 39.15
- Type
- journal article
- Language
- en
- Open access
- closed
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