Sectoral shocks, human capital, and displaced workers

Richard Rogerson

doi:10.1016/j.red.2004.05.004

Sectoral shocks, human capital, and displaced workers

Richard Rogerson

Research output: Contribution to journal › Article › peer-review

14 Scopus citations

Abstract

This paper extends the Lucas-Prescott island economy to allow for finite lived agents and sector specific human capital. Unlike the Lucas-Prescott model in which workers who leave declining sectors find employment in expanding sectors, this models predicts that workers who leave declining sectors may simply become non-employed, whereas increased employment in expanding sectors is accomplished by increasing the rate at which new entrants enter the sector.

Original language	English (US)
Pages (from-to)	89-105
Number of pages	17
Journal	Review of Economic Dynamics
Volume	8
Issue number	1
DOIs	https://doi.org/10.1016/j.red.2004.05.004
State	Published - Jan 2005
Externally published	Yes

All Science Journal Classification (ASJC) codes

Economics and Econometrics

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10.1016/j.red.2004.05.004

Cite this

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title = "Sectoral shocks, human capital, and displaced workers",

abstract = "This paper extends the Lucas-Prescott island economy to allow for finite lived agents and sector specific human capital. Unlike the Lucas-Prescott model in which workers who leave declining sectors find employment in expanding sectors, this models predicts that workers who leave declining sectors may simply become non-employed, whereas increased employment in expanding sectors is accomplished by increasing the rate at which new entrants enter the sector.",

author = "Richard Rogerson",

note = "Funding Information: I thank seminar participants at the NBER Summer Institute, Berkeley, Chicago, Maryland, Western Ontario and New York University for valuable comments. Financial support from the NSF is gratefully acknowledged.",

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Sectoral shocks, human capital, and displaced workers

Abstract

All Science Journal Classification (ASJC) codes

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