Recall and Unemployment

Author:

Fujita Shigeru1,Moscarini Giuseppe2

Affiliation:

1. Research Department, Federal Reserve Bank of Philadelphia, Ten Independence Mall, Philadelphia, PA 19106 (email: )

2. Department of Economics and Cowles Foundation, Yale University, 28 Hillhouse Avenue, New Haven, CT 06511, and NBER (email: )

Abstract

We document in the Survey of Income and Program Participation covering the period 1990–2013 that a surprisingly large share of workers return to their previous employer after a jobless spell, and experience very different unemployment and employment outcomes than job switchers. The probability of recall is much less procyclical and volatile than the probability of finding a new employer. We add to a quantitative, and otherwise canonical, search-and-matching model of the labor market a recall option, which can be activated freely following aggregate and job-specific productivity shocks. Recall and search effort significantly amplify the cyclical volatility of new job-finding and separation probabilities. (JEL E24, E32, J63, J64)

Publisher

American Economic Association

Subject

Economics and Econometrics

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