| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP2319 |
| DP2319 The Endogenous Determination of Minimum Wage | |
| Gil S Epstein; Shmuel Nitzan | |
| 发表日期 | 1999-12-17 |
| 出版年 | 1999 |
| 语种 | 英语 |
| 摘要 | The observation that liquidations are concentrated in recessions has long been the subject of controversy. One view holds that liquidations are beneficial in that they result in increased restructuring. Another view holds that liquidations are privately inefficient and essentially wasteful. This paper proposes an alternative perspective. Based on a combination of theory with empirical evidence on gross job flows and on financial and labour market rents, we find that, cumulatively, recessions result in reduced restructuring, and that this is likely to be socially costly once we consider inefficiencies on both the creation and destruction margins. |
| 主题 | International Macroeconomics |
| 关键词 | Creative destruction Financial constraints Job flows Liquidations Recessions Rents Restructuring Unemployment |
| URL | https://cepr.org/publications/dp2319 |
| 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/531410 |
| 推荐引用方式 GB/T 7714 | Gil S Epstein,Shmuel Nitzan. DP2319 The Endogenous Determination of Minimum Wage. 1999. |
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