| 来源类型 | FEEM working papers "Note di lavoro" series
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| 规范类型 | 论文
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| Empirical Representation of Firms' Employment Decisions by an (S,s) Rule |
| Paola Rota
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| 发表日期 | 2001
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| 出处 | Economy and Society
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| 出版年 | 2001
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| 语种 | 英语
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| 摘要 | We analyse the conditions under which an (S,s) rule may be derived and compare these with alternative rules. We consider the case of labour demand with fixed adjustment costs. The (S,s) rule implies a specific ordering of choices: downward adjustment, non-adjustment and upward adjustment with the decision of inaction lying crucially in the middle. We may model firms' decisions as an (S,s) rule only if it is possible to characterise unobserved heterogeneity as an exact negative relation between the choice-specific error terms. Assuming that these are normally distributed, the particular ordering of choices implied by the (S,s) rule may be estimated by an ordered probit. We test the (S,s) rule nesting the ordered probit within a multinomial model with correlated error terms. We find that restriction of univariate error distribution is rejected by the data. |
| 特色分类 | C25,J23
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| 关键词 | (S,s) rules,adjustment costs,probit models
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| URL | https://www.feem.it/en/publications/feem-working-papers-note-di-lavoro-series/empirical-representation-of-firms-employment-decisions-by-an-ss-rule/
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| 来源智库 | Fondazione Eni Enrico Mattei (Italy)
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| 资源类型 | 智库出版物
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| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/116624
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推荐引用方式
GB/T 7714 |
Paola Rota. Empirical Representation of Firms' Employment Decisions by an (S,s) Rule. 2001.
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文件名：
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NDL2001-021.pdf
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格式：
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Adobe PDF
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