Labour reallocation and unemployment fluctuations: A tale of two tails
本文用分位数面板回归方法研究美国各州数据，发现劳动力再配置对高失业率的影响显著为正，对低失业率影响不显著，验证了再配置冲击的非对称性。
Abstract This paper examines the sectoral shifts hypothesis for the US regional labour market using a quantile panel framework. We use a monthly panel dataset that spans over 1990–2016 for the 48 US states and employ a dynamic quantile panel data regression approach to investigate the asymmetric nature of the relationship between sectoral labour reallocation and unemployment fluctuations. The empirical evidence suggests that the impact of the employment dispersion index is relatively small and insignificant for lower levels of unemployment but becomes positive and highly significant for higher rates. Our findings bear out the asymmetry of reallocation disturbances for the US labour market.