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Daniel S Hamermesh 1988 The Demand for Workers
Katharine G Abraham and Susan N Houseman 1989
adjustment costs aggregate American Economic Review assumed assumption autoregression Bertola capital stock changes coefficients constant cost of adjustment cyclical degrees of fixity distributed lag Econometric effects elasticity empirical employ employees employment adjustment employment and hours equilibrium estimates Euler equations evidence exogenous factor demand firing costs firm firm's Hamermesh hiring hoarded labor hypothesis implies increase industries innovation inventory Japan Japanese job security job security provisions Labor Economics labor turnover layoffs likelihood function long-run marginal ment normal hours null hypothesis optimal orthogonal output overtime paper parameters period plants policies production function production workers quarterly ratio rational expectations real wage regression restrictions returns to scale Review of Economics sample seasonally adjusted shipments short-run significant specification speed of adjustment standard errors statistic stochastic processes structure studies substitution Table theory tion trend turnover costs variables vector vector autoregression wage rate