JOONGBU UNIVERSITY LIBRARY

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Labor Reallocation During Booms: The Role of Duration Uncertainty.

Title/Author: Labor Reallocation During Booms: The Role of Duration Uncertainty.

General Note: Source: Dissertations Abstracts International, Volume: 85-12, Section: A.

Abstracts/Etc: 요약A salient aspect of sectoral booms - prevalent in commodities, construction, or tech - is that the end of the boom phase is difficult to predict. I study how this uncertainty shapes labor mobility across sectors during the boom phase. Using a model of sector- specific human capital accumulation I show that workers can exhibit risk-loving attitudes towards duration, leading to ambiguous effects of uncertainty on labor supply. Then, I turn to an empirical investigation of the effects of duration uncertainty during the boom in mineral prices of 2011-2018, driven by a construction boom in China. I estimate the model using financial data and novel administrative micro-data from Australia, an exporter of mineral products to China. I use the quantified model to study a counterfactual perfect foresight economy in which the mining boom was temporary and duration certain. I find that the mining share of employment in Australia would have increased from 3.7% to 4.4%, and the relative wage in the sector would have been substantially lower, leading to a decrease in labor income inequality. Changes in the age composition of the mining sector indicate heterogeneous attitudes towards risk across age groups.

Material
Reg No.	Call No.	Location	Status	Lend Info
TQ0032818	T	원문자료	열람가능/출력가능	열람가능/출력가능 마이폴더 부재도서신고

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