FLUCTUATIONS IN THE PACE OF LABOR REALLOCATION

@inproceedings{Davis2004FLUCTUATIONSIT,
  title={FLUCTUATIONS IN THE PACE OF LABOR REALLOCATION},
  author={Steven J. Davis},
  year={2004}
}
Familiar observations: The pattern and distribution of production opportunities change constantly in a modern economy. These changing opportunities spur a time-consuming, and otherwise costly, reallocation of specialized resources. In the case of labor, this reallocation process often manifests itself as unemployment. Most readers will agree that these observations are quite pertinent to an economic explanation of the underlying rate of unemployment in a market economy. Upon turning to an… CONTINUE READING

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