Why do firms cut hiring so sharply in recessions? This dissertation explores two answers. Chapters 1 and 2 propose a financial channel of wage rigidity, whereby wage rigidity among incumbent workers forces firms to reduce hiring by squeezing their internal funds. Chapter 3 examines how the procyclicality of quits, through the replacement vacancies they entail, amplifies the cyclical fluctuations of total job openings. / Economics
| Identifer | oai:union.ndltd.org:harvard.edu/oai:dash.harvard.edu:1/17467250 |
| Date | January 2015 |
| Creators | Schoefer, Benjamin |
| Contributors | Katz, Lawrence, Farhi, Emmanuel, Chetty, Raj, Stein, Jeremy |
| Publisher | Harvard University |
| Source Sets | Harvard University |
| Language | English |
| Detected Language | English |
| Type | Thesis or Dissertation, text |
| Format | application/pdf |
| Rights | embargoed |
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