演講者簡介 : Dr. Fergal Hanks received his PhD from Northwestern University in 2024. He is currently a Postdoc at Janeway Institute at the University of Cambridge. His research fields are macroeconomics and Labour Economics.
演講摘要 : Workers displaced by the reallocation of labour demand across industries suffer persistent earnings losses, in a large part due to higher unemployment risk. This paper quantifies the aggregate unemployment implications of a reallocation of labour demand. I develop a search and matching model with multiple industries and industry specific skill that is calibrated to the US economy. In the model a reallocation shock leads to up to a 0.8 percentage points rise in unemployment. The combination of industry specific skill and the substitutability between workers of different skill levels are key to this result.
