Davis, Steven J.; Faberman, R. Jason; Haltiwanger, John; … - In: Proceedings (2007) Nov
Unemployment inflows fell from 4 percent of employment per month in the early 1980s to 2 percent or less by the mid 1990s and thereafter. U.S. data also show a secular decline in firm-level employment volatility and the job destruction rate. We interpret this decline as a decrease in the...