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Private Equity, Layoffs, and Job Polarization
Uppsala University, Units outside the University, Office of Labour Market Policy Evaluation. Res Inst Ind Econ IFN, Stockholm, Sweden..
Res Inst Ind Econ IFN, Stockholm, Sweden..
2017 (English)In: Journal Labor Economics, ISSN 0734-306X, E-ISSN 1537-5307, Vol. 35, no 3, p. 697-754Article in journal (Refereed) Published
Abstract [en]

Private equity firms are often criticized for laying off workers, but the evidence on who loses their jobs and why is scarce. This paper argues that explanations for job polarization also explain layoffs after private equity buyouts. Buyouts reduce agency problems, which triggers automation and offshoring. Using rich employer-employee data, we show that buyouts generally do not affect unemployment incidence. However, unemployment incidence doubles for workers in less productive firms who perform routine or offshorable job tasks. Job polarization is also much more marked among workers affected by buyouts than for the economy at large.

Place, publisher, year, edition, pages
2017. Vol. 35, no 3, p. 697-754
National Category
Economics and Business
Identifiers
URN: urn:nbn:se:uu:diva-326485DOI: 10.1086/690712ISI: 000402713700003OAI: oai:DiVA.org:uu-326485DiVA, id: diva2:1141631
Funder
Marianne and Marcus Wallenberg FoundationThe Jan Wallander and Tom Hedelius FoundationVINNOVAAvailable from: 2017-09-15 Created: 2017-09-15 Last updated: 2017-09-15Bibliographically approved

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Olsson, Martin

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