A Competitive Theory of Employment Dynamics
构建了一个包含多个空间分离的竞争性劳动力市场和总体不确定性的搜索与失业模型，解释了工人流动、就业创造和失业的周期性特征。
We develop a model of search and unemployment in an economy consisting of a large number of spatially separated local competitive labour markets and aggregate uncertainty. If aggregate shocks are positively autocorrelated, the implied cyclical behaviour of the aggregate variables match those of empirical studies: worker movement and job creation are procyclical while total unemployment, job destruction and job reallocation are countercyclical.