Procyclical skill retooling and equilibrium search

King, I (2002) Procyclical skill retooling and equilibrium search. Review of Economic Dynamics, 5 3: 704-717. doi:10.1006/redy.2002.0176


Author King, I
Title Procyclical skill retooling and equilibrium search
Journal name Review of Economic Dynamics   Check publisher's open access policy
ISSN 1094-2025
Publication date 2002
Sub-type Article (original research)
DOI 10.1006/redy.2002.0176
Volume 5
Issue 3
Start page 704
End page 717
Total pages 14
Language eng
Subject 2002 Cultural Studies
Abstract We argue that more workers choose to switch occupations in booms than in recessions. That is, skill retooling is procyclical. This view is consistent with the Lucas-Prescott equilibrium search model modified with aggregate shocks and unemployment insurance. Empirical support is found in a unique Canadian administrative data set that measures the annual flow of workers (from 1979 to 1993) who separate from their jobs to "return to school." This flow is strongly procyclical. Journal of Economic Literature Classification Numbers: J24, E32.
Keyword Business cycles
Equilibrium search
Schooling
Q-Index Code C1
Q-Index Status Provisional Code
Institutional Status Unknown

Document type: Journal Article
Sub-type: Article (original research)
Collection: Scopus Import
 
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Citation counts: TR Web of Science Citation Count  Cited 2 times in Thomson Reuters Web of Science Article | Citations
Scopus Citation Count Cited 3 times in Scopus Article | Citations
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Created: Thu, 24 Mar 2016, 10:35:02 EST by Karen Warren