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Title: Business Cycle Properties of Job Polarization Using Consistent Occupational Data
Citation Type: Working Paper
Publication Year: 2014
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Abstract: A significant obstacle to studying business cycle properties of job polarization has been the presence of inconsistencies in aggregate employment data for different occupation groups. In order to overcome this problem, we construct aggregate hours series using the method of 'conversion factors', which was originally developed by the Bureau of Labor Statistics. After showing that our data outperform previously available data in terms of consistency, we analyze two business cycle properties of job polarization that have not yet been studied before: (1) the changes in volatility of employment of each occupation group since the mid-1980s and (2) the asymmetric effects of recessions on employment of different occupation groups. We find that employment volatility of middle-skill occupations has decreased by 40% since the mid-1980s due to jobless recoveries observed in the last three recessions. JEL classification: C82, E24, E32 for their helpful comments. We also thank Tomaz Cajner for providing Stata codes for CPS Basic Monthly data. Yu Jung Whang provided excellent research assistance. Yang gratefully acknowledge the financial support from Monash University.
Url: https://www.monash.edu/business/economics/research/publications/2014/1714businessshimyang.pdf
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Authors: Shim, Myungkyu; Yang, Hee-Seung
Series Title: DEPARTMENT OF ECONOMICS DISCUSSION PAPERS
Publication Number: 17/14
Institution: Monash University
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Data Collections: IPUMS CPS
Topics: Labor Force and Occupational Structure, Methodology and Data Collection, Other
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