Code for: Changing Dynamism and Productivity: Shocks vs Responsiveness

Version
1
Resource Type
Dataset : administrative records data, aggregate data, survey data
Creator
  • Decker, Ryan (Board of Governors of the Federal Reserve System)
  • Haltiwanger, John (University of Maryland)
  • Jarmin, Ron (United States Department of Commerce. Bureau of the Census)
  • Miranda, Javier (United States Department of Commerce. Bureau of the Census)
Publication Date
2020-11-23
Free Keywords
Productivity; Reallocation
Description
  • Abstract

    The pace of job reallocation has declined in the U.S. in recent decades. We draw insight from canonical models of business dynamics in which reallocation can decline due to (a) lower dispersion of idiosyncratic shocks faced by businesses, or (b) weaker marginal responsiveness of businesses to shocks. We show that shock dispersion has actually risen, while the responsiveness of business-level employment to productivity has weakened. Moreover, declining responsiveness can account for a significant fraction of the decline in the pace of job reallocation, and we find suggestive evidence this has been a drag on aggregate productivity.
Temporal Coverage
  • 1981-01-01 / 2014-12-31
    Time Period: Thu Jan 01 00:00:00 EST 1981--Wed Dec 31 00:00:00 EST 2014
Geographic Coverage
  • United States
Sampled Universe
Firms and Establishments in U.S. Private, Non-Farm Sectors.
Availability
Download
This study is freely available to the general public via web download.
Relations
  • Is version of
    DOI: 10.3886/E120432
Publications
  • Decker, Ryan, John Haltiwanger, Ron Jarmin, and Javier Miranda. “Changing Business Dynamism and Productivity: Shocks vs. Responsiveness.” American Economic Review, n.d.

Update Metadata: 2020-11-23 | Issue Number: 1 | Registration Date: 2020-11-23