Firm-Level Shocks and Labour Flows
利用瑞典微观数据，分析企业生产函数和需求曲线的永久性异质性冲击如何影响劳动力流动，发现需求冲击比生产率冲击对就业调整影响更大且更迅速。
Abstract We analyse how labour flows respond to permanent idiosyncratic shifts in firm-level production functions and demand curves using very detailed Swedish micro data. Shocks to firms’ physical productivity have only modest effects on firm-level employment decisions. In contrast, we document rapid and substantial employment adjustments through hires and separations in response to firm-level demand shocks. The choice of adjustment margin depends on the sign of the shock: firms adjust through increased hires if these shocks are positive and through increased separations if the shocks are negative.