Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/227865 
Year of Publication: 
2019
Series/Report no.: 
Danmarks Nationalbank Working Papers No. 147
Publisher: 
Danmarks Nationalbank, Copenhagen
Abstract: 
I define occupations that are employed in more industries as "broader" occupations. I study the implications of broadness for mismatch of the unemployed and vacancies across occupations and industries. I empirically find that workers in broader occupations are better insured against industryspecific shocks. A recent literature has found that mismatch did not significantly contribute to the rise in unemployment during the Great Recession. I build a general equilibrium model that uses occupational broadness as a microfoundation of mismatch. The model uncovers a general equilibrium channel that realigns the strong crosssectional effects of mismatch with its missing aggregate impact. I argue that mismatch across occupations and industries cannot significantly contribute to aggregate unemployment fluctuations.
Subjects: 
Macroeconomics
labor economics
unemployment
mismatch
JEL: 
E24
J22
J24
J63
J64
Document Type: 
Working Paper

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