十大赌博正规信誉网址举办形势报告会
和哲学社会科学报告会、研讨会、讲座、论坛审批表
主办部门 | 世经国贸系、贸易与金融开放创新团队 | ||
讲座主题
| Employment Decline during the Great Recession: The Role of Firm Size Distribution | ||
现场负责人 | 邓建鹏 | 联系电话 | 65907206 |
举办时间 | 1月17日14：00-15：30 | 举办地点 | 十大赌博正规信誉网址武东路校区526 |
活动参与人数规模
| 15 | 联络人及联系电话 | 刘益如 |
65907868 | |||
主讲人姓名、单位、职称/职务及简历 | Wenjian Xu, University of Michigan, Ph.D. candidate | ||
讲座内容摘要（会议议程） | Over 8 million jobs were lost in the Great Recession, creating widespread economic hardship. This paper documents a novel and robust empirical regularity, that highly concentrated local labor markets experienced larger employment declines during the Great Recession. I provide an explanation using a model with heterogeneous firms where recessions arise as an aggregate consequence of idiosyncratic firm shocks. My model predicts a larger decline in expected employment when the market has a higher initial concentration level. The key idea is that relatively small firms are unable to absorb the large number of workers that get displaced when relatively big firms are hit by idiosyncratic shocks, as the absorption is limited by decreasing returns to scale (at the firm) and an upward-sloping labor supply (in the local labor market). I undertake a series of empirical tests to rule out alternative explanations, and show that large employment losses in concentrated labor markets are not driven by highly concentrated industry-locations being hit harder during the Great Recession, having thinner labor markets, having more large firms, or having high firm leverage ratios. | ||
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