| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP2093 |
| DP2093 Transmission Rights and Market Power on Electric Power Networks I: Financial Rights | |
| Jean Tirole; Paul L Joskow | |
| 发表日期 | 1999-03-29 |
| 出版年 | 1999 |
| 语种 | 英语 |
| 摘要 | This paper develops a model of job creation and job destruction in a growing economy with embodied technical progress, that we use to analyze the political support for employment protection legislations such as the ones that are observed in most European countries. We analyze the possibility of Condorcet cycles due to the fact that workers about to become unemployed prefer both an increase and a reduction in firing costs over the status quo. Despite this problem, we show the existence of local, and sometimes global majority winners. In voting in favour of employment protection, incumbent employees trade off lower living standards (because employment protection maintains workers in less productive activities) against longer job duration. We show that the gains from, and consequently the political support for employment protection (as defined by maximumjob tenure) are larger, the lower the rate of creative destruction and the larger the worker's bargaining power. Numerical simulations suggest a hump-shaped response of firing costs to these variables, as well as a negative impact of exogenous turnover on employment protection. |
| 主题 | Labour Economics ; Public Economics |
| 关键词 | Creative destruction Firing costs Obsolescence Political economy Vintage capital |
| URL | https://cepr.org/publications/dp2093 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/531211 |
| 推荐引用方式 GB/T 7714 | Jean Tirole,Paul L Joskow. DP2093 Transmission Rights and Market Power on Electric Power Networks I: Financial Rights. 1999. |
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