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Employment Risk in U.S. Metropolitan and Nonmetropolitan Regions: the Influence of Industrial Specialization and Population Characteristics

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  • George W. Hammond
  • Eric Thompson

Abstract

. A dynamic labor market model is used to motivate the inclusion of population characteristics and industrial structure as determinants of regional employment instability. We examine how these factors influence regional employment instability using data from both metropolitan and nonmetropolitan regions in the United States. We find that population characteristics are important determinants of employment volatility and that increased industrial specialization (reduced diversification) increases employment volatility, but the magnitude of that influence drops substantially once population characteristics are considered. We also find that the influence of population characteristics and industrial specialization varies significantly across metropolitan and nonmetropolitan regions.

Suggested Citation

  • George W. Hammond & Eric Thompson, 2004. "Employment Risk in U.S. Metropolitan and Nonmetropolitan Regions: the Influence of Industrial Specialization and Population Characteristics," Journal of Regional Science, Wiley Blackwell, vol. 44(3), pages 517-542, August.
    • Handle: RePEc:bla:jregsc:v:44:y:2004:i:3:p:517-542
    DOI: 10.1111/j.0022-4146.2004.00347.x
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    Cited by:

    1. Alison Felix, 2012. "Industrial diversity, growth, and volatility in the seven states of the Tenth District," Economic Review, Federal Reserve Bank of Kansas City, vol. 97(Q IV).
    2. repec:rre:publsh:v:43:y:2013:i:23:p:1-22 is not listed on IDEAS
    3. Alan Tidwell & Yan (Olivia) Lu & Junsoo Lee & Piyali Banerjee, 2023. "Nature of comovements in US state and MSA housing prices," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 51(4), pages 959-989, July.
    4. Artz, Georgeanne M. & Orazem, Peter F., 2005. "Reexamining Rural Decline: How Changing Rural Classifications and Short Time Frames Affect Perceived Growth," 2005 Annual meeting, July 24-27, Providence, RI 19408, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    5. Maureen Kilkenny, 2010. "Urban/Regional Economics And Rural Development," Journal of Regional Science, Wiley Blackwell, vol. 50(1), pages 449-470, February.
    6. Timothy W. Kelsey & Mark D. Partridge & Nancy E. White, 2016. "Unconventional Gas and Oil Development in the United States: Economic Experience and Policy Issues," Applied Economic Perspectives and Policy, Agricultural and Applied Economics Association, vol. 38(2), pages 191-214.
    7. Claudia Buch & Martin Schlotter, 2013. "Regional origins of employment volatility: evidence from German states," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 40(1), pages 1-19, February.
    8. Gerald A. Carlino & Robert Defina & Keith Sill, 2013. "The Long and Large Decline in State Employment Growth Volatility," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 45(2‐3), pages 521-534, March.
    9. Andrew M. Isserman & James Westervelt, 2006. "1.5 Million Missing Numbers: Overcoming Employment Suppression in County Business Patterns Data," International Regional Science Review, , vol. 29(3), pages 311-335, July.
    10. Rebecca M. Blank, 2005. "Poverty, Policy, and Place: How Poverty and Policies to Alleviate Poverty Are Shaped by Local Characteristics," International Regional Science Review, , vol. 28(4), pages 441-464, October.
    11. repec:rre:publsh:v:37:y:2007:i:2:p:146-68 is not listed on IDEAS
    12. Zachary T. Keeler & Heather M. Stephens, 2023. "What matters for lagging regions? The role of self‐employment and industrial diversity in distressed areas," Growth and Change, Wiley Blackwell, vol. 54(4), pages 962-1001, December.
    13. Sarah A. Low & Stephan Weiler, 2012. "Employment Risk, Returns, and Entrepreneurship," Economic Development Quarterly, , vol. 26(3), pages 238-251, August.
    14. Mark Partridge & Ray D. Bollman & M. Rose Olfert & Alessandro Alasia, 2007. "Riding the Wave of Urban Growth in the Countryside: Spread, Backwash, or Stagnation?," Land Economics, University of Wisconsin Press, vol. 83(2), pages 128-152.
    15. Coulson, N. Edward & McCoy, Shawn J. & McDonough, Ian K., 2020. "Economic diversification and the resiliency hypothesis: Evidence from the impact of natural disasters on regional housing values," Regional Science and Urban Economics, Elsevier, vol. 85(C).
    16. Partridge, Mark D. & Tsvetkova, Alexandra, 2018. "Local ability to "rewire" and socioeconomic performance: Evidence from US counties before and after the Great Recession," MPRA Paper 89313, University Library of Munich, Germany.
    17. Barth, James R. & Benefield, Justin D. & Hollans, Harris, 2015. "Industry Concentration and Regional Housing Market Performance," Journal of Regional Analysis and Policy, Mid-Continent Regional Science Association, vol. 45(2).
    18. Mark D. Partridge, 2013. "America’s Job Crisis and the Role of Regional Economic Development Policy," The Review of Regional Studies, Southern Regional Science Association, vol. 43(2,3), pages 97-110, Winter.
    19. Coulson, N. Edward & Liu, Crocker H. & Villupuram, Sriram V., 2013. "Urban economic base as a catalyst for movements in real estate prices," Regional Science and Urban Economics, Elsevier, vol. 43(6), pages 1023-1040.

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