Underemployment and the Trickle-Down of Unemployment
研究了就业不足（工人从事低于自身技能水平的工作）在衰退期间上升的现象，构建了一个包含内生排序机制的搜索模型，解释了高技能工人为更快就业而接受低技能工作，从而加剧低技能工人竞争的现象。
A substantial fraction of workers are underemployed, i.e., employed in jobs for which they are overqualified, and that fraction—the underemployment rate—is higher in recessions. To explain these facts, we build a search model with an endogenous “ranking” mechanism, in which high-skill applicants are systematically hired over less-skilled competing applicants. Some high-skill workers become underemployed in order to escape the competition for high-skill jobs and find a job more rapidly at the expense of less-skilled workers. Quantitatively, the model can capture the key characteristics of underemployment, notably the fact that both the underemployment rate and the wage loss associated with becoming underemployed increase in recessions.