Isebaert, Daan; Heylen, Freddy; Smolders, Carine - CESifo - 2011
employment like labour costs and productivity, the skill level of the population, and demography. Considering that ownership may … be endogenous to (shocks in) employment, we use IV estimation methods. Overall, we find evidence in favour of the Oswald … significant fall in the employment rate by about 0.3 percentage points. Our results underscore the importance of including other …