The effects of oil price shocks on job reallocation

LAUR Repository

Show simple item record

dc.contributor.author Karaki, Mohamad B.
dc.contributor.author Herrera, Ana Maria
dc.date.accessioned 2017-11-01T13:27:29Z
dc.date.available 2017-11-01T13:27:29Z
dc.date.copyright 2015 en_US
dc.date.issued 2017-11-01
dc.identifier.issn 0165-1889 en_US
dc.identifier.uri http://hdl.handle.net/10725/6469 en_US
dc.description.abstract We investigate the effect of oil price innovations on U.S. manufacturing job flows using a simultaneous equation model that nests symmetric and asymmetric responses. We find no evidence of asymmetry in the response of job flows to positive and negative oil price innovations. We then inquire whether firms, when facing positive shocks, shed jobs faster than they create jobs. We show that positive innovations lead to a decline in net employment and an increase in job reallocation, possibly due to search and matching issues. Yet, the latter effect becomes statistically insignificant when we control for data mining. We demonstrate that the cumulative one-year effect of oil price shocks on job creation and destruction was smaller during the Great Moderation, but it was larger for gross job reallocation. These variations were caused by a change in the transmission channel and not by smaller oil price shocks. en_US
dc.language.iso en en_US
dc.title The effects of oil price shocks on job reallocation en_US
dc.type Article en_US
dc.description.version Published en_US
dc.author.school SOB en_US
dc.author.idnumber 201304845 en_US
dc.author.department Department of Economics (ECON) en_US
dc.description.embargo N/A en_US
dc.relation.journal Journal of Economic Dynamics and Control en_US
dc.journal.volume 61 en_US
dc.article.pages 95-113 en_US
dc.keywords Oil prices en_US
dc.keywords Job flows en_US
dc.keywords Job reallocation en_US
dc.keywords Asymmetric response en_US
dc.identifier.doi https://doi.org/10.1016/j.jedc.2015.08.006 en_US
dc.identifier.ctation Herrera, A. M., & Karaki, M. B. (2015). The effects of oil price shocks on job reallocation. Journal of Economic Dynamics and control, 61, 95-113. en_US
dc.author.email mkaraki@lau.edu.lb en_US
dc.identifier.tou http://libraries.lau.edu.lb/research/laur/terms-of-use/articles.php en_US
dc.identifier.url http://www.sciencedirect.com/science/article/pii/S0165188915001542 en_US
dc.orcid.id https://orcid.org/0000-0003-0925-9054 en_US
dc.author.affiliation Lebanese American University en_US

Files in this item

Files Size Format View

There are no files associated with this item.

This item appears in the following Collection(s)

Show simple item record

Search LAUR

Advanced Search


My Account