This paper analyzes the joint dynamics of prices, output and employment across firms. We develop a dynamic equilibrium … induces sizable declines in output and employment together with rising cross-sectional dispersion of price and output growth …

Firms adjust their employment to changes in output. But they tend to adjust it only partially. Typically, labor is … constraints increase the sensitivity of employment to fluctuations in output considerably. When output changes, financially …

We analyze and assess new evidence on employment dynamics from a new data source the National Establishment Time Series … (NETS). The NETS offers advantages over existing data sources for studying employment dynamics, including tracking business … full decomposition of employment change into its six constituent processes, including job creation and destruction stemming …