The Contribution of Large and Small Employers to Job Creation in Times of High and Low Unemployment
研究发现大雇主的净就业创造率与总失业率之间的负相关关系比小雇主强得多，两者差异随商业周期变化约5个百分点，基于美、丹、法四十年数据。
We document a negative correlation, at business cycle frequencies, between the net job creation rate of large employers and the level of aggregate unemployment that is much stronger than for small employers. The differential growth rate of employment between initially large and small employers has an unconditional correlation of —0.5 with the unemployment rate, and varies by about 5 percent over the business cycle. We exploit several datasets from the United States, Denmark, and France, both repeated cross sections and job flows with employer longitudinal information, spanning the last four decades and several business cycles. We discuss implications for theories of factor demand.