| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP3587 |
| DP3587 Human Capital in Growth Regressions: How Much Difference Does Data Quality Make? An Update and Further Results | |
| Angel de la Fuente; Rafael Domenech | |
| 发表日期 | 2002-10-20 |
| 出版年 | 2002 |
| 语种 | 英语 |
| 摘要 | This Paper presents a macroeconomic model where firms may endogenously outsource part of their production process. We start from the premise that adaptation to uncertainty cannot be contracted upon in the worker - employer relationship. Outsourcing decisions then balance flexibility gains against hold-up costs of opportunistic behaviour by outside contractors. In equilibrium, the degree of outsourcing is shown to depend on the degree of product market competition, contractor's bargaining power, and the volatility of demand shocks. Our main result is that an increase in the degree of outsourcing amplifies the volatility of firm sales and employment; it does not, however, amplify aggregate uncertainty. This theory is therefore a good candidate in explaining the rise in firm level uncertainty witnessed in the US over the past 30 years. It also provides valuable insights on the relation between globalization, technical change, firm level uncertainty and job instability. Finally, we bring our theory's implications to the test. Evidence from firm level data is shown to be largely consistent with the main implications of our theory. |
| 主题 | Industrial Organization ; International Trade and Regional Economics |
| 关键词 | Outsourcing Uncertainty Flexibility Fragmentation |
| URL | https://cepr.org/publications/dp3587 |
| 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/532594 |
| 推荐引用方式 GB/T 7714 | Angel de la Fuente,Rafael Domenech. DP3587 Human Capital in Growth Regressions: How Much Difference Does Data Quality Make? An Update and Further Results. 2002. |
| 条目包含的文件 | 条目无相关文件。 | |||||
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
