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The effects of labor composition on hours volatility: Evidence from the U.S

Title
The effects of labor composition on hours volatility: Evidence from the U.S
Author
유혜미
Keywords
labor composition; aggregate hours volatility; quantitative accounting
Issue Date
2014-06
Publisher
한국계량경제학회
Citation
계량경제학보, 권: 25, 호: 2, 페이지: 60-84
Abstract
For the past few decades, labor composition has changed drastically in the U.S. This paper examines how these changes help to explain the recent decline in aggregate hours fluctuations. I disaggregate workers by gender, education, marital status, and spousal characteristics among marriedworkers, and quantify the impact of their changing shares on cyclical volatility of hours at both the extensive and intensive margins. The main result is that these labor composition changes explain little of the reduction in hours volatility along the extensive margin, yet they explain a significant fraction of the fluctuations at the intensive margin. Educational attainment is the single most important factor in aggregate hours fluctuations: it accounts for 1% and 14% of cyclical volatility of employment rate and average weekly hours, respectively. I also find that spousal education among married workers with a working spouse played an important role in the phenomenon.
URI
http://scholar.dkyobobook.co.kr/searchDetail.laf?barcode=4010023722601http://hdl.handle.net/20.500.11754/47256
ISSN
1229-2907
Appears in Collections:
COLLEGE OF ECONOMICS AND FINANCE[S](경제금융대학) > ECONOMICS & FINANCE(경제금융학부) > Articles
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