2019
DOI: 10.3982/qe916
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The aggregate effects of labor market frictions

Abstract: Labor market frictions are able to induce sluggish aggregate employment dynamics. However, these frictions have strong implications for the source of this propagation: they distort the path of aggregate employment by impeding the flow of labor across firms. For a canonical class of frictions, we show how observable measures of such flows can be used to assess the effect of frictions on aggregate employment dynamics. Application of this approach to establishment microdata for the United States reveals that the … Show more

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Cited by 8 publications
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References 86 publications
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“…Elsby et al (2019) further examine the propagation mechanism in a broader class of models that includes the model ofElsby and Michaels (2013).…”
mentioning
confidence: 99%
“…Elsby et al (2019) further examine the propagation mechanism in a broader class of models that includes the model ofElsby and Michaels (2013).…”
mentioning
confidence: 99%