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000002268 005__ 20240523045514.0
000002268 0247_ $$2doi$$a10.6082/uchicago.2268
000002268 041__ $$aen
000002268 245__ $$aSearch and (In-)Elastic Rest Unemployment: An Analytical Framework
000002268 260__ $$bThe University of Chicago
000002268 269__ $$a2020-06
000002268 300__ $$a80
000002268 336__ $$aDissertation
000002268 502__ $$bPh.D.
000002268 520__ $$aThis paper develops a tractable quantitative framework for analyzing sectoral labor reallocation

and unemployment. The framework features analytical solutions for sectoral wages, employment

and unemployment dynamics, as well as aggregate unemployment, which allows fast

model estimation from labor market transition data and convenient counterfactual exercises to

quantify the impact of sectoral shocks and the relevant labor market institutions. In particular,

the framework accommodates two important features of the data: (i) heterogeneous response

of sectoral labor market dynamics to shocks; and (ii) persistent unemployment accompanied by

persistently depressed wages for certain sectors. I apply the framework to test the sectoral shifts

hypothesis and find that a 1% increase in sectoral shock dispersion would raise aggregate unemployment

by 0.55%. The result is consistent with the observation of slow employment recovery

post recent recessions with job polarization.
000002268 542__ $$fUniversity of Chicago dissertations are covered by copyright.
000002268 650__ $$aEconomics
000002268 653__ $$alabor reallocation
000002268 653__ $$asectoral shock dispersion
000002268 653__ $$aunemployment
000002268 690__ $$aSocial Sciences Division
000002268 691__ $$aKenneth C. Griffin Department of Economics
000002268 7001_ $$aZhou, Ying$$uUniversity of Chicago
000002268 72012 $$aRobert Shimer
000002268 72014 $$aFernando Alvarez
000002268 72014 $$aGreg Kaplan
000002268 8564_ $$9f00ac5a9-96f4-4ac5-b6d3-34c7df99c17b$$s1098353$$uhttps://knowledge.uchicago.edu/record/2268/files/Zhou_uchicago_0330D_15211.pdf$$eEmbargo (2022-06-22)
000002268 909CO $$ooai:uchicago.tind.io:2268$$pDissertations$$pGLOBAL_SET
000002268 983__ $$aDissertation