| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP3511 |
| 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 |
| URL | https://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. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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