Department of Economics and Business Economics

Macroeconomic shocks and firms' labor adjustment

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This article discusses some recent research which aims at
producing evidence on how firms adjust their employment in
response to output shocks using micro-level data and with a
particular focus on the relationship between worker and job flows.
The evidence presented is mainly based on Danish data, but a brief
discussion of cross-country differences and similarities in firmlevel
labor adjustment is also provided. For Denmark, remarkable
long-term stability in firms’ labor adjustment technologies is
observed and the cross-country comparisons reveal striking
similarities between countries with very diverse labor market
institutions.
Original languageEnglish
JournalFinnish Economic Papers
Volume26
Issue1
Pages (from-to)25-35
Number of pages12
ISSN0784-5197
Publication statusPublished - 2013

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