Worker churn in the cross section and over time: New evidence from Germany

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Show simple item record Wellschmied, Félix Bachmann, Rüdiger Bayer, Christian Merkl, Christian Seth, Stefan 2022-03-29T14:09:05Z 2022-03-29T14:09:05Z 2021-01-01
dc.identifier.bibliographicCitation Bachmann, R., Bayer, C., Merkl, C., Seth, S., Stüber, H., & Wellschmied, F. (2021). Worker churn in the cross section and over time: New evidence from Germany. Journal of Monetary Economics, 117, pp. 781-797.
dc.identifier.issn 0304-3932
dc.description.abstract Worker churn is procyclical in the German labor market. We study the plant-level connection of churn and employment growth using the new Administrative Wage and Labor Market Flow Panel from 1975 to 2014. Churn is V-shaped in employment growth. Through analyzing this pattern by worker skill, age, and tenure, we establish that churn is unlikely to result from plant reorganization but rather from uncertainty about match quality. In a dynamic labor demand framework with a time-to-hire friction, churn can be interpreted as a manifestation of idiosyncratically stochastic separation shocks. These shocks become larger and more predictable during booms, leading to procyclical churn.
dc.description.sponsorship The research leading to these results has received funding from the European Research Council under the European Union’s Seventh Framework Programme (FTP/2007-2013) / ERC Grant agreement no. 282740. Felix Wellschmied gratefully acknowledges support from the Spanish Ministry of Economics through research grants ECO2014-56384-P, MDM 2014-0431, and Comunidad de Madrid MadEco-CM (S2015/HUM-3444). Heiko Stüber gratefully acknowledge support from the German Research Foundation (DFG) under priority program “The German Labor Market in a Globalized World” (SPP 1764). Christian Merkl gratefully acknowledge support from SPP 1764 and the Hans Frisch Stiftung.
dc.language.iso eng
dc.publisher Elsevier
dc.rights ©2021 Elsevier
dc.rights Atribución-NoComercial-SinDerivadas 3.0 España
dc.subject.other Aggregate Fluctuations
dc.subject.other Employment Growth
dc.subject.other Job flows
dc.subject.other Job-to-job transitions
dc.subject.other Labor demand
dc.subject.other Separation shocks
dc.subject.other Worker churn
dc.subject.other Worker flows
dc.title Worker churn in the cross section and over time: New evidence from Germany
dc.type article
dc.subject.jel E20
dc.subject.jel E24
dc.subject.jel E32
dc.subject.jel J23
dc.subject.jel J63
dc.subject.eciencia Economía
dc.rights.accessRights openAccess
dc.relation.projectID Gobierno de España. ECO2014-56384-P
dc.relation.projectID Gobierno de España. MDM 2014-0431
dc.relation.projectID Comunidad de Madrid. S2015/HUM-3444
dc.type.version acceptedVersion
dc.identifier.publicationfirstpage 781
dc.identifier.publicationlastpage 797
dc.identifier.publicationtitle JOURNAL OF MONETARY ECONOMICS
dc.identifier.publicationvolume 117
dc.identifier.uxxi AR/0000028102
dc.contributor.funder Ministerio de Economía y Competitividad (España)
dc.contributor.funder Comunidad de Madrid
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