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Seminario Ángel Luis Martín Román
'Labor supply and the business cycle: The Bandwagon Worker Effect'
El próximo jueves 5 de diciembre a las 12:30h., los profesores Ángel Luis Martín (angellm@eco.uva.es) y Alfonso Moral (amoral@eco.uva.es) de la Universidad de Valladolid presentarán el trabajo titulado "Labor supply and the business cycle: The Bandwagon Worker Effect".
El seminario tendrá lugar en la sala Klein del Departamento de Economía Aplicada y se impartirá en español.
The relationship between the labor force participation and the business cycle has become a topic in the economic literature. However, few studies examine if the cyclical sensitivity of the labor 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 labor markets in Spain. Our results reveal that there exists a positive spatial dependence in the cyclical sensitivity of the labor force participation that decreases as we fix a laxer neighborhood criterion, which verifies the existence of the BWE.
