The fundamental surplus revisited
重新审视了基本盈余的概念，指出失业对生产率变化的大幅反应需要基本盈余对生产率具有高弹性，并分析了基本盈余分数与弹性之间的关系。
To generate large responses of unemployment to productivity changes requires a high elasticity of the fundamental surplus with respect to productivity. When all deductions that enter the fundamental surplus are acyclical, and the fundamental surplus does not involve endogenous variables, then the elasticity of the fundamental surplus coincides with the inverse of the fundamental surplus fraction.