A Theory of Quits and Layoffs with Efficient Turnover
回应了有效离职文献中长期忽视辞职与解雇区别的问题，将辞职视为工人主动离职，证明解雇的存在与工人和企业优化匹配以获取交易收益相容，并用收入动态面板数据检验模型的结构含义。
This paper answers the efficient-turnover literature's long silence regarding the quit-layoff distinction. Treating quits as worker-initiated separations, the author establishes that the existence of layoffs is compatible with optimizing workers and firms forming and dissolving employment matches to exploit all the gains from trade. The efficient-turnover approach is shown to be consistent with many empirical regularities that distinguish quits from layoffs. Structural implications of the model are tested on data from the Panel Study of Income Dynamics. Copyright 1991 by University of Chicago Press.