TY  - RPRT
        AU  - Jurajda, Štepán
AU  - Terrell, Katherine
        TI  - What Drives the Speed of Job Reallocation During Episodes of Massive Adjustment?
        PY  - 2002/Oct/
        PB  - Institute of Labor Economics (IZA)
        CY  - Bonn
        T2  - IZA Discussion Paper
        IS  - 601
        UR  - https://www.iza.org/publications/dp601
        AB  - This paper uses individual-level data to characterize economy-wide job creation and
destruction during periods of massive structural adjustment. We contrast the gradualist
Czech and the rapid Estonian approach to the destruction of the communist economy to
provide evidence on selected macroeconomic theories of reallocation with frictions. We find
that gradualism (slowing down job destruction) effectively synchronizes job creation and
destruction. Drastic job destruction leads to little or no slowdown of job creation. Small newly
established firms are the under-researched fountainhead of jobs during the transition from
communist to market oriented economies.
JEL Classification: E0, J2, O1, O4, P2.
Keywords: job creation, job destruction, transition
        KW  - transition
KW  - job destruction
KW  - job creation
        ER  -