Working Time Accounts and Turnover*
研究了工作时间账户（一种允许企业平滑工时需求的记账工具）是否真能减少裁员。模型显示，企业层面裁员可能增加或减少，取决于经济下行时企业工时盈余或赤字及生产率，但总体上预期会减少岗位破坏。
Abstract Working time accounts are essentially bookkeeping tools that allow firms to smooth their demand for hours employed. Descriptive literature suggests that working time accounts can reduce layoffs and inhibit increases in unemployment during recessions. In a model of optimal labor demand, I show that working time accounts do not necessarily guarantee fewer layoffs at the firm level. Layoffs can fall or rise depending on whether a firm meets an economic downturn with a surplus or a deficit of hours, and on how productive the firm is. On aggregate and in expected terms, however, working time accounts reduce job destruction.