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A picture of stock-flow unemployment in the United Kingdom

Coles, MG and Jones, P and Smith, E (2010) 'A picture of stock-flow unemployment in the United Kingdom.' Macroeconomic Dynamics, 14 (4). 427 - 453. ISSN 1365-1005

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Abstract

Stock-flow job matching implies that there are two types of job seekersthose on the short side of their occupations who can easily find work, and those on the long side who expect extended unemployment spells. Using matching data and information on completed and uncompleted unemployment spells for England and Wales, this paper uses the stock-flow matching hypothesis to identify the fraction (incidence) of laid off workers who find themselves on the long side of the market and, conditional on being on the long side, their expected unemployment duration. The average incidence is around one-half and increases significantly in recessions. The expected duration is also strongly countercyclicalpeaking at 15 months in the 1990-1992 recession and falling to a more modest 9 months by January 1999. Cross-section estimates also identify a North-South divide and a large city effectthe unemployed in large cities and in the North experience longer spells. Copyright © Cambridge University Press 2009.

Item Type: Article
Subjects: H Social Sciences > HB Economic Theory
Divisions: Faculty of Social Sciences > Economics, Department of
Depositing User: Jim Jamieson
Date Deposited: 29 Jun 2012 20:47
Last Modified: 17 Aug 2017 18:12
URI: http://repository.essex.ac.uk/id/eprint/2665

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