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dc.contributor.authorFabling, Richard
dc.contributor.authorMaré, David C.
dc.date.accessioned2013-01-17T20:27:15Z
dc.date.available2013-01-17T20:27:15Z
dc.date.issued2012-04
dc.identifier.citationFabling, R. & Maré, D.C. (2012). Cyclical labour market adjustment in New Zealand: The response of firms to the global financial crisis and its implications for workers, Motu Working Paper 12-04, Motu Economic and Public Policy Research, Wellington, New Zealand.en_NZ
dc.identifier.urihttp://hdl.handle.net/10289/7074
dc.description.abstractThis paper examines the dynamics of employment adjustment in New Zealand, focusing on the response of firms to the 2008/09 Global Financial Crisis. We use data from Statistics New Zealand’s prototype Longitudinal Business Database (LBD) to examine firms’ employment responses to output shocks before and after the crisis, and to investigate variations in job and worker flows. We discuss the resilience of the NZ labour market to economic shocks, and the possible role of labour market policy settings. Finally, we discuss preliminary findings on the differential impact of labour market adjustment on workers – by earnings level, age, gender, and tenure – and outline potential further work along these lines. Our analysis of firm microdata highlights three key features of New Zealand labour market adjustment to the 2008/09 crisis. First, there was considerable heterogeneity across firms, both before and after the crisis, in the size of output shocks that firms faced, the amount of employment adjustment in response to any given output shock, and in the size of worker flows given the firm’s employment adjustment. Second, the crisis not only moved the distribution of output shocks faced by firms, but also altered the relationship between output shocks and changes in job and worker flows and employment. Third, the impact of the observed firm-level dynamics had an uneven impact on workers, with greater employment losses for low wage workers, young workers, and workers with low job tenure.en_NZ
dc.language.isoen
dc.publisherMotu Economic and Public Policy Researchen_NZ
dc.relation.urihttp://www.motu.org.nz/publicationsen_NZ
dc.subjectNew Zealanden_NZ
dc.subjectglobal financial crisisen_NZ
dc.subjectlabour marketen_NZ
dc.titleCyclical labour market adjustment in New Zealand: The response of firms to the global financial crisis and its implications for workers, Motu Working Paper 12-04en_NZ
dc.typeCommissioned Report for External Bodyen_NZ
uow.relation.series12-04en_NZ
dc.relation.isPartOfMotu Working Paperen_NZ
pubs.elements-id54554


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