Includes bibliographical references and index.

Acknowledgements
Introduction
Pt. I Size and Structure of Adjustment Costs
1 Labor As A Quasi-Fixed Factor / Walter Y. Oi 3
Pt. II Dynamic Theories of Labor Demand
2 The Relationship Between Output and Employment in British Manufacturing Industries / F. P. R. Brechling 23
3 Labor and Output Over the Business Cycle: Some Direct Evidence / Jon A. Fay, James L. Medoff 53
4 Labor Demand and the Structure of Adjustment Costs / Daniel S. Hamermesh 71
5 Intertemporal Rules With Variable Speed of Adjustment: An Application to UK Manufacturing Employment / Simon M. Burgess, Juan J. Dolado 87
6 Estimation of Dynamic Labor Demand Schedules under Rational Expectations / Thomas J. Sargent 106
Pt. III Dynamic Analysis of Interrelated Factor Demand
7 Interrelated Factor Demand Functions / M. Ishag Nadiri, Sherwin Rosen 145
8 Interrelated Demand for Factors of Production in the UK Engineering Industry, 1968-81 / R. I. D. Harris 160
9 Inventories, Layoffs, and the Short-Run Demand for Labor / Robert H. Topel 180
10 The Dynamic Demand for Capital and Labor / Matthew D. Shapiro 199
Pt. IV Dynamic Factor Demand and Employment Protection
11 The Demand for Workers and Hours and the Effects of Job Security Policies: Theory and Evidence / Daniel S. Hamermesh 231
12 Employment Adjustment in UK Manufacturing / Simon M. Burgess 257
13 Job Security and Work Force Adjustment: How Different Are US and Japanese Practices? / Katharine G. Abraham, Susan N. Houseman 280
14 Job Security, Employment and Wages' with 'Comments' by Jacques Mairesse and Dennis J. Snower / Giuseppe Bertola