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On the Asymmetric Volatility of Employment Outflows
Author(s) -
Leeves Gareth
Publication year - 2002
Publication title -
labour
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.403
H-Index - 34
eISSN - 1467-9914
pISSN - 1121-7081
DOI - 10.1111/1467-9914.00213
Subject(s) - volatility (finance) , outflow , economics , asymmetry , monetary economics , econometrics , labour economics , physics , quantum mechanics , meteorology
Recent research into job flow dynamics highlights the asymmetry in aggregate employment adjustment. This has implications for patterns of worker flow adjustment. This paper draws upon modelling strategies developed in the applied finance literature to characterize the asymmetry of aggregate employment outflow volatility. It is found that higher employment outflow volatility is associated with negative shocks, when the outflow is lower than expected. This, it is suggested, could be associated with the dynamic processes linking the hiring and turnover of workers.