The High Unemployment Trap
构建了一个有解雇限制和内源性离职的劳动力市场模型，发现该模型在合理参数下能产生多重均衡，即低离职高失业与高离职低失业两种状态并存。
A model of the labor market under firing restrictions and endogenous quits is constructed. It is shown that in the spirit of Blanchard and Summers, the model can generate multiple equilibria for plausible parameter values, with a low quits/high unemployment equilibrium coexisting with a high quits/low unemployment equilibrium.