Intersectoral Mobility and Short-Run Labor Market Adjustments
构建了一个劳动力市场调整模型，将调整视为在不同市场和非市场部门间的序列再分配过程。培训成本带来摩擦，工作固定成本限制工作分享，导致失业。部门劳动力变量对需求冲击的调整模式取决于相对需求和冲击预期持续时间。
This article presents a model of labor market adjustments as a sequential process of reallocation among various market and nonmarket sectors. Training costs introduce friction into the process, while fixed costs of working limit work sharing, resulting in unemployment. Adjustments in sectoral labor market variables to demand shocks can follow very different patterns, depending on relative demands and the expected duration of the shocks. In particular, a permanent boom in a sector may result in an initial increase in unemployment and reduction in working hours even as employment increases, reflecting contemporaneous substitution between the margins and intertemporal substitution in recruitment.