This dissertation explores the microeconomic and aggregate implications of an array of employmentadjustment frictions. Chapter 1 investigates the JOBS Bank, a unique employment adjustment cost that prevailed in the domestic automobile industry for nearly 20 years. The JOBS Bank required...

The first chapter of this dissertation examines the effects of trade liberalization on local labor market outcomes and workers' migration patterns. I develop a model of local labor markets that describes how tariff changes across industries affect wages in local labor markets within the...