Data and Code for: The State Dependent Effectiveness of Hiring Subsidies
Principal Investigator(s): View help for Principal Investigator(s) Sebastian Graves, Federal Reserve Board
Version: View help for Version V1
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| FIGURES | 05/05/2022 02:22:PM | ||
| LATEX | 05/05/2022 02:22:PM | ||
| MODELS | 05/05/2022 02:25:PM | ||
| REGRESSIONS | 05/05/2022 02:25:PM | ||
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application/vnd.openxmlformats-officedocument.wordprocessingml.document | 29.5 KB | 05/05/2022 10:22:AM |
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application/pdf | 218 KB | 05/05/2022 10:22:AM |
Project Citation:
Graves, Sebastian. Data and Code for: The State Dependent Effectiveness of Hiring Subsidies. Nashville, TN: American Economic Association [publisher], 2023. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2023-03-27. https://doi.org/10.3886/E157901V1
Project Description
Summary:
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The responsiveness of job creation to shocks is procyclical, while the responsiveness of job destruction is countercyclical. This new finding can be explained by a heterogeneous-firm model in which hiring costs lead to lumpy employment adjustment. The model predicts that policies that aim to stimulate employment by targeting the job creation margin, such as hiring subsidies, are significantly less effective in recessions: These are times when few firms are near their hiring threshold and many firms are near their firing threshold. Policies that target the job destruction margin, such as employment protection subsidies, are particularly effective at such times.
Scope of Project
JEL Classification:
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E24 Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
E32 Business Fluctuations; Cycles
E63 Comparative or Joint Analysis of Fiscal and Monetary Policy; Stabilization; Treasury Policy
E24 Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
E32 Business Fluctuations; Cycles
E63 Comparative or Joint Analysis of Fiscal and Monetary Policy; Stabilization; Treasury Policy
Geographic Coverage:
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USA
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