Varejão, José M.2018-05-232018-05-232003-04Varejão, José M. (2001). "Job and worker flows in high adjustment cost settings". Portuguese Economic Journal, 2(1):37-511617-982X (print)1617-9838 (online)http://hdl.handle.net/10400.5/15468This paper analyses the relationship between the size of adjustment costs and the intensity of labor market flows. I argue that high adjustment costs inhibit adjustment to temporary shocks, leaving adjustment to long-lived shocks unchanged. Worker turnover is also reduced because of the negative impact that adjustment costs have on churning.engAdjustment costsJob flowsWorker flowsjournal article10.1007/s10258-002-0015-y