摘要
This paper studies the differences in the dynamics of employment between the nondurable and durable goods sectors. It shows that in the US economy, the durables sector exhibits a higher volatility of employment growth, and a higher relative volatility of job destruction to job creation, than does the nondurables sector. To account for these patterns, a two-sector Mortensen-Pissarides-type model is developed and two types of technology shocks-aggregate and investment-specific-are considered. The numerical results suggest that the model can capture many important features of the sectoral job flows. © 2007 Elsevier Inc. All rights reserved.