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Fiscal Policy and Occupational Employment Dynamics

We document substantial heterogeneity in occupational employment dynamics in response to government spending shocks. Employment rises most strongly in service, sales, and office (?pink-collar?) occupations. By contrast, employment in blue-collar occupations is hardly affected by fiscal stimulus which is striking in light of its strong exposure to the cycle and its longrun decline due to technical change and globalization. We provide evidence that occupation specific changes in labor demand are key for understanding these findings. We develop a business-cycle model that explains the heterogeneous occupational employment dynamics as a consequence of differences in the short-run substitutability between labor and capital services across occupations.

Art: Vortrag im Rahmen der öffentlichen Vortragsreihe "Economic Theory and Policy"
Von: 22.01.2018 17:00
Bis: 22.01.2018 19:00
Ort:

Sem.R. DB gelb 04

Veranstalter:

E 105-3 ECON - Institut für Stochastik und Wirtschaftsmathematik

Fr. Brigitte Schneider
brigitte.schneider@tuwien.ac.at

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