On the Driving Forces Behind Cyclical Movements in Employment and Job Reallocation
利用美国制造业战后数据，检验了配置性冲击和总量性冲击对就业与岗位再配置周期波动的影响，发现配置性冲击是岗位再配置周期波动的主因，但对就业波动的影响因识别假设而异。
Theory restricts short-run job creation and destruction responses and cumulative employment and job reallocation responses to allocative and aggregate shocks. We formulate these restrictions and implement them for postwar data on U.S. manufacturing. Allocative shocks are the main driving force behind cyclical movements in job reallocation, but their contribution to employment fluctuations varies greatly across alternative identification assumptions. Also, the data compel one or both of the following inferences: aggregate shocks greatly alter the shape and not just the mean of the cross-sectional density of employment growth rates; allocative shocks cause short-run reductions in aggregate employment.