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Uncovering the Sources of Sectoral Employment Fluctuations
Author(s) -
Battersby Bryn,
Kouparitsas Michael,
Munro Josiah
Publication year - 2015
Publication title -
economic record
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.365
H-Index - 42
eISSN - 1475-4932
pISSN - 0013-0249
DOI - 10.1111/1475-4932.12207
Subject(s) - boom , economics , financial crisis , sample (material) , dispersion (optics) , phase (matter) , baby boom , international economics , monetary economics , macroeconomics , environmental science , physics , population , demography , environmental engineering , sociology , optics , quantum mechanics , thermodynamics
This paper explores the sources of fluctuations in sectoral employment growth rates across the Australian economy over three different periods: the pre‐terms of trade boom period; the pre‐global financial crisis ( GFC ) phase of the terms of trade boom; and the GFC and post‐ GFC phase. We find that common cyclical fluctuations, not just sector‐specific shocks, can and do have an important effect on sectoral growth rate dispersion across the full sample. We also find that there is evidence of accelerated structural change in the latter phase of the terms of trade boom.