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Gross labour market flows in Europe: some stylized facts

Author: Burda, Michael C. ; Wyplosz, CharlesINSEAD Area: Economics and Political Science Series: Working Paper ; 90/51/EPS Publisher: Fontainebleau : INSEAD, 1990.Language: EnglishDescription: 29 p.Type of document: INSEAD Working Paper Online Access: Click here Abstract: The purpose of this paper is to establish some stylized facts on gross labour market flows -using mostly new data from France, Germany, the UK and the US- which any theory of unemployment ought to explain. The regularities on gross labour market flows that are isolated are inconsistent with a large class of theories of labour markets and business cycles. Key results are: flows into and out of unemployment are countercyclical; these flows move tightly together, over both the cycle and the long run; the bulk of exits from unemployment actually represent job findings rather than exits from the labour force; employment inflows and outflows are procyclical
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The purpose of this paper is to establish some stylized facts on gross labour market flows -using mostly new data from France, Germany, the UK and the US- which any theory of unemployment ought to explain. The regularities on gross labour market flows that are isolated are inconsistent with a large class of theories of labour markets and business cycles. Key results are: flows into and out of unemployment are countercyclical; these flows move tightly together, over both the cycle and the long run; the bulk of exits from unemployment actually represent job findings rather than exits from the labour force; employment inflows and outflows are procyclical

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