Hiring and Firing: A Tale of Two Thresholds
通过求解企业动态优化问题，发现离职率对雇佣决策的影响取决于解雇成本与雇佣成本的比率，并描述了离职率如何影响解雇决策。
The negative effect of quits on the willingness of firms to provide on-the-job training is well documented in the theoretical literature. Here we explore the strength of this effect by solving a firm's dynamic optimization problem where there is uncertainty about future productivity and nonzero firing costs. We find that the degree to which quit rates affect hiring depends on the ratio of firing to hiring costs. As this ratio rises, the negative effect of quits becomes less important, eventually reversing itself. We also describe how quit rates affect the firing decision. We highlight some testable implications of our analysis.