Aggregate Employment Fluctuations with Microeconomic Asymmetries
用简单的工厂层面成本不对称解释美国制造业中岗位破坏率波动大于岗位创造率的现象，说明微观不对称如何传导至总体就业波动。
We provide a simple explanation for the observation from the U.S. manufacturing sector that the job destruction rate fluctuates more than the job creation rate. In our model, proportional plant-level costs of creating and destroying jobs cause shrinking plants to be more sensitive to aggregate shocks than growing plants. We describe circumstances in which this microeconomic asymmetry is preserved in the aggregate and show that it can account for much of the observed asymmetries in gross job flows. This is so even though we abstract from job matching frictions, incomplete contracts, and aggregate congestion effects.