scholarly journals Job Displacement Risk and the Cost of Business Cycles

2007 ◽  
Vol 97 (3) ◽  
pp. 664-686 ◽  
Author(s):  
Tom Krebs
Keyword(s):  
Quantitative Analysis ◽  
Theoretical Analysis ◽  
Business Cycles ◽  
Incomplete Markets ◽  
Displaced Workers ◽  
Job Displacement ◽  
Macroeconomic Model ◽  
Earnings Losses ◽  
The Cost

This paper analyzes the welfare costs of business cycles when workers face uninsurable job displacement risk. The paper uses a simple macroeconomic model with incomplete markets to show that cyclical variations in the long-term earnings losses of displaced workers can generate arbitrarily large cost of business cycles even if the variance of individual income changes is constant over the cycle. In addition to the theoretical analysis, this paper conducts a quantitative study of the cost of business cycles using empirical evidence on the long-term earnings losses of US workers. The quantitative analysis shows that realistic variations in job displacement risk generate sizable costs of business cycles, even though a second-moment analysis would suggest negligible costs. (JEL E21, E24, E32, J63)

scholarly journals Job Ladders and Earnings of Displaced Workers

2017 ◽  
Vol 9 (2) ◽  
pp. 1-31 ◽  
Author(s):  
Pawel Krolikowski
Keyword(s):  
Displaced Workers ◽  
Job Displacement ◽  
Wage Dispersion ◽  
Earnings Losses ◽  
Displaced Worker

Workers who suffer job displacement experience surprisingly large and persistent earnings losses. This paper proposes an explanation for this robust empirical puzzle in a model of search with a significant job ladder and increased separation rates for the recently hired. In addition to capturing the depth and persistence of displaced worker earnings losses, the model matches: employment-to-nonemployment and employer-to-employer probabilities by tenure; the empirical decomposition of earnings losses into reduced wages and employment; observed wage dispersion; and the distribution of wage changes around a nonemployment event. (JEL J31, J63, J64)

scholarly journals Geographic Mobility and the Costs of Job Loss

2015 ◽  
Vol 15 (4) ◽  
pp. 1793-1829 ◽  
Author(s):  
Nicholas A. Jolly
Keyword(s):  
Job Loss ◽  
Panel Study ◽  
Displaced Workers ◽  
Early Years ◽  
Geographic Mobility ◽  
Lower Probability ◽  
Income Dynamics ◽  
Earnings Losses ◽  
Loss Experience

Abstract This paper uses data from the 1968 through 1997 survey waves of the Panel Study of Income Dynamics to analyze how the long-term costs of job loss vary by a worker’s post-displacement migration status. Results from the analysis show that those individuals who move within the first 2 years after a job loss experience lower earnings losses, lower reductions in hours worked, and smaller increases in time unemployed when compared to a group of displaced workers who are not geographically mobile during the early years following this life event. Workers who move within the first 2 years after displacement face a lower probability of homeownership when compared to their non-mobile counterparts. However, this lower probability is short-lived.

The Long-Term Costs of Job Displacement for Young Adult Workers

ILR Review ◽  
2003 ◽  
Vol 56 (4) ◽  
pp. 682-698 ◽  
Author(s):  
Lori G. Kletzer ◽  
Robert W. Fairlie
Keyword(s):  
Young Adults ◽  
Older Workers ◽  
Job Loss ◽  
Job Displacement ◽  
Young Workers ◽  
Earnings Growth ◽  
Earnings Losses ◽  
Expected Earnings ◽  
Annual Earnings

Using NLSY data, the authors estimate the long-term costs of job displacement for young adults. Earnings and wage losses were large for the first three years following displacement. Compared to earnings losses found by other studies for more mature workers, however, earnings losses for these young adults were short-lived, with differences between observed and expected earnings narrowing considerably five years after job loss. At that point, the shortfall in annual earnings (relative to what would have been expected absent job loss) was 9% for men and 12.5% for women, and the shortfall in hourly wages was 21.2% for men. Young workers also apparently differ from more established workers in the composition of total earnings losses: for older workers, total losses largely represent actual, immediate earnings losses, whereas for young workers the loss of opportunities for rapid earnings growth is more important.

scholarly journals Sources of Displaced Workers’ Long-Term Earnings Losses

2020 ◽  
Vol 110 (10) ◽  
pp. 3231-3266 ◽  
Author(s):  
Marta Lachowska ◽  
Alexandre Mas ◽  
Stephen A. Woodbury
Keyword(s):  
Great Recession ◽  
Washington State ◽  
Displaced Workers ◽  
Work Hours ◽  
Hourly Wage ◽  
The Great Recession ◽  
Wage Rates ◽  
Earnings Losses ◽  
Wage Premiums

We estimate the magnitudes of reduced earnings, work hours, and wage rates of workers displaced during the Great Recession using linked employer-employee panel data from Washington state. Displaced workers’ earnings losses occurred mainly because hourly wage rates dropped at the time of displacement and recovered sluggishly. Lost employer-specific premiums explain only 17 percent of these losses. Fully 70 percent of displaced workers moved to employers paying the same or higher wage premiums than the displacing employers, but these workers nevertheless suffered substantial wage rate losses. Loss of valuable specific worker-employer matches explains more than one-half of the wage losses. (JEL E32, J22, J31, J63, R23)

scholarly journals Sources of Displaced Workers' Long-Term Earnings Losses

2017 ◽  
Author(s):  
Marta Lachowska ◽  
Alexandre Mas ◽  
Stephen Woodbury
Keyword(s):  
Displaced Workers ◽  
Earnings Losses

scholarly journals Sources of Displaced Workers’ Long-Term Earnings Losses

2018 ◽  
Author(s):  
Marta Lachowska ◽  
Alexandre Mas ◽  
Stephen Woodbury
Keyword(s):  
Displaced Workers ◽  
Earnings Losses

A Review of the Recent Empirical Literature on Displaced Workers

ILR Review ◽  
1996 ◽  
Vol 50 (1) ◽  
pp. 5-16 ◽  
Author(s):  
Bruce C. Fallick
Keyword(s):  
Demographic Characteristics ◽  
Displaced Workers ◽  
Economic Conditions ◽  
Empirical Literature ◽  
Job Displacement ◽  
Prior Performance ◽  
Earnings Losses ◽  
Economic Downturns ◽  
Advance Notice ◽  
The Difference

This article reviews the empirical literature on job displacement. Job displacement is widespread and strongly countercyclical (tending to peak during economic downturns), but concentrated in industries and states that are doing poorly, relative either to other industries and states or to their own prior performance. Displaced workers experience more nonemployment than do nondisplaced workers, but the difference fades after about four years. In contrast, earnings losses of displaced workers are large and persistent. Outcomes for all displaced workers are heavily influenced by broader economic conditions, and are affected very little by workers' demographic characteristics. The effects of advance notice are not yet clear.

scholarly journals Sources of Displaced Workers' Long-Term Earnings Losses

2017 ◽  
Author(s):  
Marta Lachowska ◽  
Alexandre Mas ◽  
Stephen A. Woodbury
Keyword(s):  
Displaced Workers ◽  
Earnings Losses

scholarly journals Job Displacement

1998 ◽  
Vol 12 (1) ◽  
pp. 115-136 ◽  
Author(s):  
Lori G Kletzer
Keyword(s):  
Job Loss ◽  
Training Programs ◽  
White Collar ◽  
Job Displacement ◽  
The Past ◽  
Earnings Losses ◽  
Specific Human Capital ◽  
College Educated ◽  
And Training

The past decade and a half has seen tremendous research growth in the area of job displacement. This paper discusses the state of knowledge on the issues and questions of job loss. The 1984-96 Displaced Worker Surveys are used to describe how the characteristics of displacement are changing to include more college educated, white collar, and nonmanufacturing workers. For many workers, the long-term earnings losses following displacement are large due to the loss of firm-specific human capital. More research is needed on the questions of the causes of job displacement and on the efficacy of employment and training programs.

Primary varicose veins

Phlebologie ◽  
2010 ◽  
Vol 39 (03) ◽  
pp. 133-137
Author(s):  
H. Partsch
Keyword(s):  
Varicose Veins ◽  
Compression Therapy ◽  
Daily Practice ◽  
Clinical Severity ◽  
Compression Stockings ◽  
Primary Varicose Veins ◽  
The Cost ◽  
Convincing Data ◽  
Long Term Studies

SummaryBackground: Compression stockings are widely used in patients with varicose veins. Methods: Based on published literature three main points are discussed: 1. the rationale of compression therapy in primary varicose veins, 2. the prescription of compression stockings in daily practice, 3. studies required in the future. Results: The main objective of prescribing compression stockings for patients with varicose veins is to improve subjective leg complaints and to prevent swelling after sitting and standing. No convincing data are available concerning prevention of progression or of complications. In daily practice varicose veins are the most common indication to prescribe compression stockings. The compliance depends on the severity of the disorder and is rather poor in less severe stages. Long-term studies are needed to proof the cost-effectiveness of compression stockings concerning subjective symptoms and objective signs of varicose veins adjusted to their clinical severity. Conclusion: Compression stockings in primary varicose veins are able to improve leg complaints and to prevent swelling.

Sign in / Sign up

Export Citation Format

Share Document