Workers are failing to move to the most productive industries, despite the offer of higher wages. In order to explain this phenomenon, we provide evidence that when an industry experiences a positive, labour-productivity shock, it is subsequently harder for firms to find workers. This is represented by a fall in relative matching efficiency. We present a stylised two-sector search and matching model to show the consequences of this negative relationship. Our calibrated model not only closely tracks US wages and employment share over time, but also reveals substantial output losses as a result of labour misallocation between industries.

中文翻译：

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行业之间的劳动力流动性：对宏观经济的影响

尽管工资更高，但工人们却未能转移到生产力最高的行业。为了解释这一现象，我们提供了证据，表明当一个行业经历积极的劳动生产率冲击时，企业随后会更难找到工人。这表现为相对匹配效率的下降。我们提出了一个程式化的两部门搜索和匹配模型来显示这种负面关系的后果。我们的校准模型不仅密切跟踪美国工资和就业份额随时间的变化，而且还揭示了由于行业之间劳动力错配而导致的巨大产出损失。