Labor reallocation and unemployment fluctuations: a tale of two tails

Bakas, D ORCID: https://orcid.org/0000-0003-4771-4505, Panagiotidis, T and Pelloni, G, 2023. Labor reallocation and unemployment fluctuations: a tale of two tails. Rimini: The Rimini Centre for Economic Analysis. (Unpublished)

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Abstract

This paper examines the sectoral shifts hypothesis for the US regional labor market using a quantile panel framework. We use a monthly panel dataset that spans over 1990-2016 for the 48 US states and employ a dynamic quantile panel data regression approach to investigate the asymmetric nature of the relationship between sectoral labor reallocation and unemployment fluctuations. The empirical evidence suggests that the impact of the employment dispersion index is relatively small and insignificant for lower levels of unemployment but becomes positive and highly significant for higher rates. Our findings bear out the asymmetry of reallocation disturbances for the US labor market.

Item Type:	Working paper
Description:	RCEA working paper series 23-07
Creators:	Bakas, D., Panagiotidis, T. and Pelloni, G.
Publisher:	The Rimini Centre for Economic Analysis
Place of Publication:	Rimini
Date:	18 May 2023
Number:	23-07
Identifiers:	Number Type 1771717 Other
Rights:	© RCEA 2023.
Divisions:	Schools > Nottingham Business School
Record created by:	Linda Sullivan
Date Added:	19 Jun 2023 10:50
Last Modified:	19 Jun 2023 10:50
URI:	https://irep.ntu.ac.uk/id/eprint/49220

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