Arbeitspapier
Firing costs: eurosclerosis or eurosuccesses?
In this paper we analyse the employment implications of firing restrictions. We find that when a recession is expected and the trend rate of productivity growth is small, a rise in firing costs affects mainly the hiring decision. Thus there is a negative effect on average employment. When, on the other hand, a boom is expected and the rate of productivity growth is large, firing costs affect mainly the firing decision. Then, as a result, average employment is increased. Our analysis suggests that while firing restrictions might have stimulated employment and reduced unemployment in Europe in the first two decades following World War II - when large supply shocks were absent and the average rate of growth was high - these same restrictions may have had the opposite effects in the 1970s and 1980s, when significant negative supply shocks occurred.
- Sprache
-
Englisch
- Erschienen in
-
Series: Dundee discussion papers in economics ; No. 94
- Klassifikation
-
Wirtschaft
Business Fluctuations; Cycles
Labor Demand
Human Capital; Skills; Occupational Choice; Labor Productivity
Producer Cooperatives; Labor Managed Firms; Employee Ownership
- Thema
-
firing restrictions
stochastic demand
hiring and firing
real options
Kündigungsschutz
Arbeitsnachfrage
Kosten
Konjunktur
Theorie
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Chen, Yu-Fu
Snower, Dennis J.
Gylfi, Zoega
- Ereignis
-
Veröffentlichung
- (wer)
-
Department of Economic Studies, University of Dundee
- (wo)
-
Dundee
- (wann)
-
1999
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:42 MEZ
Datenpartner
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Objekttyp
- Arbeitspapier
Beteiligte
- Chen, Yu-Fu
- Snower, Dennis J.
- Gylfi, Zoega
- Department of Economic Studies, University of Dundee
Entstanden
- 1999
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