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Labor supply and the business cycle: The "bandwagon worker effect".
- Source :
-
Papers in Regional Science . Dec2020, Vol. 99 Issue 6, p1607-1642. 36p. 1 Illustration, 1 Diagram, 12 Charts, 12 Graphs, 1 Map. - Publication Year :
- 2020
-
Abstract
- The relationship between labour force participation and the business cycle is a common topic in economic literature. However, few studies have examined if the cyclical sensitivity of labour force participation is influenced by social effects. In this paper, we construct a theoretical model defining a relatively new hypothesis, the bandwagon worker effect (BWE). We use spatial econometrics techniques to test the existence of the BWE in the local labour markets in Spain. Our results reveal a positive spatial dependence in the cyclical sensitivity of labour force participation that decreases as we fix a laxer neighbourhood criterion, which verifies the existence of the BWE. [ABSTRACT FROM AUTHOR]
- Subjects :
- *BUSINESS cycles
*LABOR supply
*LABOR market
*SOCIAL influence
*ECONOMETRICS
Subjects
Details
- Language :
- English
- ISSN :
- 10568190
- Volume :
- 99
- Issue :
- 6
- Database :
- Academic Search Index
- Journal :
- Papers in Regional Science
- Publication Type :
- Academic Journal
- Accession number :
- 147321191
- Full Text :
- https://doi.org/10.1111/pirs.12542