{"title":"Structural change in the job matching process in the United States, 1923–1932","authors":"Woong Lee, Yeo Joon Yoon","doi":"10.1093/EREH/HEAB004","DOIUrl":null,"url":null,"abstract":"\n This paper explores the structural change in the job matching process in the United States from 1923 to 1932. Bai–Perron test is employed with data from public employment offices. The result shows that there are two structural changes, July 1928 and August 1930. The first breakpoint corresponds to approximately a year before the stock market crash, implying that there was a sign of downturn in the labor market when the economy was still in a period of expansion. The second break point is related to the Great Contraction when the entire economy was going in a downward spiral.","PeriodicalId":51703,"journal":{"name":"European Review of Economic History","volume":" ","pages":""},"PeriodicalIF":1.0000,"publicationDate":"2021-03-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1093/EREH/HEAB004","citationCount":"3","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"European Review of Economic History","FirstCategoryId":"98","ListUrlMain":"https://doi.org/10.1093/EREH/HEAB004","RegionNum":1,"RegionCategory":"历史学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"ECONOMICS","Score":null,"Total":0}
引用次数: 3
Abstract
This paper explores the structural change in the job matching process in the United States from 1923 to 1932. Bai–Perron test is employed with data from public employment offices. The result shows that there are two structural changes, July 1928 and August 1930. The first breakpoint corresponds to approximately a year before the stock market crash, implying that there was a sign of downturn in the labor market when the economy was still in a period of expansion. The second break point is related to the Great Contraction when the entire economy was going in a downward spiral.
期刊介绍：
European Review of Economic History has established itself as a major outlet for high-quality research in economic history, which is accessible to readers from a variety of different backgrounds. The Review publishes articles on a wide range of topics in European, comparative and world economic history. Contributions shed new light on existing debates, raise new or previously neglected topics and provide fresh perspectives from comparative research. The Review includes full-length articles, shorter articles, notes and comments, debates, survey articles, and review articles. It also publishes notes and announcements from the European Historical Economics Society.
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