The Cyclical Volatility of Equilibrium Unemployment and Vacancies: Evidence From Italy

Cardullo, Gabriele; Guerrazzi, Marco

doi:10.1111/labr.12077

Cited by 7 publications

(8 citation statements)

References 32 publications

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“…Kudlyak (2014) finds similar results using empirical evidence on the user cost of labor. This puzzle is also present in European data; see for example Cardullo and Guerrazzi (2013). Nevertheless, RBC models with search frictions in the labor market are better able to account for U.S. business cycle facts than the frictionless model; see Merz (1995Merz ( , 1999, Andolfatto (1996), and Gomes et al (2001).…”

Section: Notesmentioning

confidence: 97%

The Cyclical Behavior of Unemployment and Vacancies With Loss of Skills During Unemployment

Ortego-Marti

2016

Macroecon. Dynam.

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This paper studies the cyclical fluctuations in unemployment and vacancies in a search and matching model in which workers lose skills during periods of unemployment. Firms' profits fluctuate more because aggregate productivity affects the economy's average human capital. Moreover, wages for workers with lower levels of human capital are closer to the value of nonmarket time, leading to more rigid wages. Fluctuations in the vacancy--unemployment ratio are larger than those in the baseline search and matching model and similar to those we observe in the data.

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Section: Notesmentioning

confidence: 97%

The Cyclical Behavior of Unemployment and Vacancies With Loss of Skills During Unemployment

Ortego-Marti

2016

Macroecon. Dynam.

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“…Moreover, the high percentage of firms that used social valves to sustain their workers. This latter attribute is the portrait of the severe recession experienced by the Italian economy in the reference year of the survey; indeed, in 2009, the Italian gross domestic product fell more than 5 per cent (Cardullo and Guerrazzi, 2013).…”

Section: Datamentioning

confidence: 97%

Workforce ageing and the training propensity of Italian firms

Guerrazzi

2014

European Journal of Training and Development

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Purpose – The purpose of this paper is to take into consideration the propensity to offer vocational training of a large sample of Italian private firms by retrieving cross-sectional data from INDACO (2009). Design/methodology/approach – Estimating a probit model, the author assesses how the age and the gender composition of the employed workforce, as well as a set of relevant corporate characteristics, such as size, sector, geographical location, innovation strategies, R&D investments and use of social safety valves, are linked to the willingness of firms to supply on-the-job training. Findings – First, as far as the average age of the whole employed workforce is concerned, it was found that the propensity of surveyed firms toward training provision follows an inverted U-shaped pattern. Furthermore, it was shown that larger firms have a higher training propensity with respect to small firms, and the same attitude holds for productive units that adopted innovation strategies and/or invested in R&D projects. By contrast, it was found that the propensity to support training activities is negatively correlated to the percentage of employed women and the use social valves. Research limitations/implications – The sample of business units taken into consideration is quite large, but it has some biases toward larger and manufacturing firms. Moreover, the cross-sectional perspective of the analysis does not allow implementation of the finer identification procedures that can be applied with panel data. Furthermore, the lack of employer – employee linked data does not allow to fully address the issue of compliance to training activities. Social implications – From a policy point of view, the results shown throughout the paper suggest some broad guidelines. First, especially in small firms, vocational training for young and older workers should be somehow stimulated. Moreover, as far as mature employees are concerned, those interventions should be framed in an active ageing perspective. Subsidies and targeted job placement programmes are often claimed as being the most appropriate ways to improve the underprivileged position of older workers. However, continuous learning during the whole working life still appears as the most effective device to reduce the employment disadvantages in the older years. Originality/value – While there are a number of papers that study the age patterns of training participation by using workers’ data retrieved from personnel and/or labour force surveys, this work is the first attempt to provide a probabilistic assessment of the decisions of Italian firms regarding training provision by taking into account the ageing perspectives of the incumbent workforce.

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“…Before the internet era researchers typically analysed job ads by manually counting ads in newspapers, as for example Álvarez and Hofstetter (2014) did for the period 1976-2012 in Colombia and Zagorsky (1998) for 1923-1994 for the USA. For many years the so-called Help-Wanted data series of advertised vacancies in the USA has been used to measure the demand for labour (Cardullo and Guerrazzi, 2013). In their paper in this journal, De Pedraza et al (2018) detail employer's hiring strategies related to recession periods in the years between 2001 and 2014 for the Netherlands.…”

Section: Measuring Labour Demand Through Vacanciesmentioning

confidence: 99%

Skill mismatch comparing educational requirements vs attainments by occupation

Tijdens

Beblavý

Thum-Thysen

2018

IJM

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Purpose The purpose of this paper is to overcome the problems that skill mismatch cannot be measured directly and that demand side data are lacking. It relates demand and supply side characteristics by aggregating data from jobs ads and jobholders into occupations. For these occupations skill mismatch is investigated by focussing on demand and supply ratios, attained vis-à-vis required skills and vacancies’ skill requirements in relation to the demand-supply ratios. Design/methodology/approach Vacancy data from the EURES job portal and jobholder data from WageIndicator web-survey were aggregated by ISCO 4-digit occupations and merged in a database with 279 occupations for Czech Republic, being the only European country with disaggregated occupational data, coded educational data, and sufficient numbers of observations. Findings One fourth of occupations are in excessive demand and one third in excessive supply. The workforce is overeducated compared to the vacancies’ requirements. A high demand correlates with lower educational requirements. At lower occupational skill levels requirements are more condensed, but attainments less so. At higher skill levels, requirements are less condensed, but attainments more so. Educational requirements are lower for high demand occupations. Research limitations/implications Using educational levels is a limited proxy for multidimensional skills. Higher educated jobholders are overrepresented. Practical implications In Europe labour market mismatches worry policy makers and Public Employment Services alike. Originality/value The authors study is the first for Europe to explore such a granulated approach of skill mismatch.

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The Cyclical Volatility of Equilibrium Unemployment and Vacancies: Evidence From Italy

Cited by 7 publications

References 32 publications

The Cyclical Behavior of Unemployment and Vacancies With Loss of Skills During Unemployment

The Cyclical Behavior of Unemployment and Vacancies With Loss of Skills During Unemployment

Workforce ageing and the training propensity of Italian firms

Skill mismatch comparing educational requirements vs attainments by occupation

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