G2TT
来源类型Discussion paper
规范类型论文
来源IDDP3511
DP3511 On the Efficiency of Job Search with Social Networks
Pierre Cahuc; François Fontaine
发表日期2002-08-20
出版年2002
语种英语
摘要Macroeconomic shocks and labour-market institutions jointly determine employment growth and economic performance. The effect of shocks depends on the nature of these institutions and the effect of institutional change depends on the macroeconomic environment. It follows that a given set of institutions may be appropriate in one epoch and not in another. We derive a dynamic model of labour demand in which the effect of firing costs on labour demand depends on the macroeconomic environment: When the level of macroeconomic activity is expected to drop and/or the trend rate of productivity growth is small, a rise in firing costs affects mainly (and adversely) the hiring decision and not the layoff decision. This makes firing costs harmful to employment when it may appear most appropriate. In contrast, firing costs can raise employment during periods of high growth and poistive shocks. Our hypothesis is supported by empirical results using OECD data.
主题Labour Economics
关键词Firing costs Stochastic demand Hiring and firing Real options
URLhttps://cepr.org/publications/dp3511
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/532525
推荐引用方式
GB/T 7714
Pierre Cahuc,François Fontaine. DP3511 On the Efficiency of Job Search with Social Networks. 2002.
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