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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