This paper analyzes the dynamics of full-time and part-time employment over the business cycle. We first document basic macroeconomic facts on these employment stocks using the U.S. data and decompose their cyclical dynamics into the contributions of different flows into and out of these stocks. Second, we develop and estimate a New Keynesian search-and-matching model with a segmented labor market to uncover the fundamental driving forces of the cyclical dynamics of employment stocks. We find the countercyclicality of the (net) flow from full-time to part-time employment is essential in accounting for countercyclical patterns of part-time employment.

中文翻译：

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具有搜索摩擦的估计新凯恩斯主义模型中的周期性兼职就业

本文分析了商业周期中全职和兼职就业的动态。我们首先使用美国数据记录这些就业股票的基本宏观经济事实，并将其周期性动态分解为流入和流出这些股票的不同流量的贡献。其次，我们开发并估计了具有分割劳动力市场的新凯恩斯主义搜索和匹配模型，以揭示就业股票周期性动态的基本驱动力。我们发现从全职工作到兼职工作的（净）流动的反周期性对于解释兼职工作的反周期模式至关重要。