EMPLOYMENT ADJUSTMENT AND LABOR UTILIZATION
构建了一个允许企业在员工人数和工时两个维度调整的均衡搜索模型，利用丹麦企业面板数据校准模型，并模拟了招聘补贴和缩短法定工作周对就业创造的影响。
Standard models of labor adjustment assume that firms can change only the size of their workforce (the extensive margin) and not the number of hours of their existing employees (the intensive margin) in response to shocks. I propose a general equilibrium search model that allows for adjustment on both of these margins. The model includes on‐the‐job search that generates different vacancy filling and attrition rates across firms. I calibrate the model to a unique matched employer–employee panel of Danish firms and simulate two labor market policies aimed at promoting job creation: hiring subsidies and a reduction in the official workweek.