Arbeitspapier
The intensive margin puzzle and labor market adjustment costs
This paper documents a puzzling fact, namely that there is a significant negative relation between employment protection legislation and the usage of the intensive margin of labor market adjustments. We then make use of a Real Business Cycle model and introduce search and matching frictions as well as adjustment costs along the extensive and the intensive labor market margins. We show that the model is able to replicate the observed pattern, if we assume low firing costs and relatively large hours adjustment costs. Furthermore, the model requires those values to replicate the U.S. business cycle statistics.
- Sprache
-
Englisch
- Erschienen in
-
Series: Kiel Working Paper ; No. 1701
- Klassifikation
-
Wirtschaft
Econometric and Statistical Methods and Methodology: General
Business Fluctuations; Cycles
Labor Contracts
- Thema
-
Adjustment Costs
Extensive Margin
Intensive Margin
Kündigungsschutz
Arbeitsmarkt
Anpassungskosten
Arbeitszeit
Real Business Cycle
Theorie
USA
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Wesselbaum, Dennis
- Ereignis
-
Veröffentlichung
- (wer)
-
Kiel Institute for the World Economy (IfW)
- (wo)
-
Kiel
- (wann)
-
2011
- Handle
- Letzte Aktualisierung
-
2025-03-10T11:44:21+0100
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Wesselbaum, Dennis
- Kiel Institute for the World Economy (IfW)
Entstanden
- 2011
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