Inter- and Intrasectoral Shocks: Effects on the Unemployment Rate
区分了需要资源跨部门重新配置的部门间冲击和需要部门内重新配置的部门内冲击，利用制造业资本回报数据构建代理变量，发现部门内冲击幅度更大，但部门间冲击更能解释总体失业率，且后期样本中两者关联更强。
Intersectoral shocks require resource reallocation across sectors while intrasectoral shocks require resource reallocation within sectors. A crucial difference between these shocks is that the former require much higher adjustment costs than the latter. Using accounting data to calculate returns on capital in manufacturing industries, the author generates proxies for these shocks. The author finds that the magnitude of intrasectoral shocks is much greater than that of intersectoral shocks but intersectoral shocks explain the aggregate unemployment rate better than intrasectoral shocks. He also finds that intersectoral shocks are more closely related to the unemployment rate in the later part of the sample considered. Copyright 1997 by University of Chicago Press.