Experts define, review, and evaluate economic fluctuations Economic and business
uncertainty dominate today's economic analyses. This new Encyclopedia illuminates the …

Workers face a trade-off between macroeconomic and individual incentives to work in
different occupations/industries; namely, between search frictions and personal comparative …

Consumer theory suggests that expenditures on luxuries and durables should be more
cyclical than expenditures on necessities and nondurables. Estimating luxuriouseness and …

Evidence on wage cyclicality shows job changers have more procyclical wages than job
stayers. Previous work argued this arises because workers gain greater access to jobs in …

The willingness of workers to move down an occupational hierarchy is a potentially
important source of flexibility in the labour market. But, relatively little is known about the …

This article characterizes labor markets in which the heterogeneity of workers and firms
results in thin markets and rents. Neoclassical marginal analysis and matching are blended …

We investigate the evolution and the sources of aggregate employment reallocation in the
United States in the 1976-2000 March files of the Current Population Survey. We focus on …

We investigate the evolution and the sources of aggregate employment reallocation in the
United States in the 1971-2000 March files of the Current Population Survey. We focus on …

This paper tests the hypothesis that firms adjust to the business cycle by altering
employment through promotion and hiring and hold the salary structure and salaries …