Cyclical Part‐Time Employment in an Estimated New Keynesian Model with Search Frictions
利用美国数据分析了全职和兼职就业在商业周期中的动态，并估计了一个包含分割劳动力市场的新凯恩斯搜索匹配模型，发现从全职到兼职的净流动的反周期性是解释兼职就业反周期模式的关键。
Abstract This paper analyzes the dynamics of full‐time and part‐time employment over the business cycle. We first document basic macroeconomic facts on these employment stocks using the U.S. data and decompose their cyclical dynamics into the contributions of different flows into and out of these stocks. Second, we develop and estimate a New Keynesian search‐and‐matching model with a segmented labor market to uncover the fundamental driving forces of the cyclical dynamics of employment stocks. We find the countercyclicality of the (net) flow from full‐time to part‐time employment is essential in accounting for countercyclical patterns of part‐time employment.