Separations, Sorting, and Cyclical Unemployment
利用1962-2012年美国当前人口调查微观数据，发现衰退期间失业人群更偏向高薪工人，且这种变化源于高薪工人离职的高周期性，并评估了能解释此现象的理论。
This paper establishes a new fact about the compositional changes in the pool of unemployed over the US business cycle. Using microdata from the Current Population Survey for the years 1962–2012, it documents that in recessions the pool of unemployed shifts toward workers with high wages in their previous job and that these shifts are driven by the high cyclicality of separations for high-wage workers. The paper finds that standard theories of wage setting and unemployment have difficulty in explaining these patterns and evaluates a number of alternative theories that do better in accounting for the new fact.