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Cited by 293

The DOI matches its Crossref record; 18 of the 18 references it cites were found in a registry or an index.

Job Loss, Job Finding, and Unemployment in the U.S. Economy over the Past Fifty Years

Open access
Hall, Robert E.·2005·NBER Macroeconomics Annual
DOI 10.1086/ma.20.3585415
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Abstract

New data compel a new view of events in the labor market during a recession. Unemployment rises almost entirely because jobs become harder to find. Recessions involve little increase in the flow of workers out of jobs. Another important finding from new data is that a large fraction of workers departing jobs move to new jobs without intervening unemployment. I develop estimates of separation rates and job-finding rates for the past fifty years, using historical data informed by detailed recent data. The separation rate is nearly constant, while the job-finding rate shows high volatility at business-cycle and lower frequencies. I review modern theories of fluctuations in the job-finding rate. The challenge to these theories is to identify mechanisms in the labor market that amplify small changes in driving forces into fluctuations in the job-finding rate of the high magnitude actually observed. In the standard theory developed over the past two decades, the wage moves to offset driving forces, and the predicted magnitude of changes in the job-finding rate is tiny. New models overcome this property by invoking a new form of sticky wages or by introducing information and other frictions into the employment relationship.

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Metadata

Authors
Hall, R. E.
Venue
NBER Macroeconomics Annual
Publisher
University of Chicago Press
Published
2005-01
Volume
20
Pages
101-137
ISSN
  • 0889-3365 (ISSN-L)
  • 1537-2642
DOI
10.1086/ma.20.3585415
OpenAlex
W3124593884
Cited by
293
References
18
FWCI
54.12
Type
journal article
Language
en
Open access
bronze

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CoChat. (2026). Citation check: Job Loss, Job Finding, and Unemployment in the U.S. Economy over the Past Fifty Years. https://app.cochat.ai/papers/10.1086/ma.20.3585415
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Hall, R. E. (2005). Job Loss, Job Finding, and Unemployment in the U.S. Economy over the Past Fifty Years. NBER Macroeconomics Annual. https://doi.org/10.1086/ma.20.3585415

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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).

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