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Distribution and growth in an economy with limited needs

Saint-Paul, Gilles - 2001

This paper studies a model of the distribution of income under bounded needs. Utility derived from any given good reaches a bliss point at a finite consumption level of that good. On the other hand, introducing new varieties always increases utility. It is assumed that each variety is owned by a...

Persistent link: https://www.econbiz.de/10011401020

When and how to create a job : the survival of new jobs in Austrian firms

Böheim, René (contributor); Stiglbauer, Alfred (contributor) - 2005

While the volatility of job creations has been studied extensively, the survival chances of new jobs are less researched. The question when and how to expand a firm is of importance, both from the firms and from a macro perspective. Adjustment cost theories and arguments about option values of...

Persistent link: https://www.econbiz.de/10002815677

Hiring and firing costs, adverse selection and long-term unemployment

Kugler, Adriana D.; Saint-Paul, Gilles - 2000

In this paper, we present a matching model with adverse selection that explains why flows into and out of unemployment are much lower in Europe compared to North America, while employment-to-employment flows are similar in the two continents. In the model, firms use discretion in terms of whom...

Persistent link: https://www.econbiz.de/10011325985

Flexibility vs. rigidity : does Spain have the worst of both worlds?

Saint-Paul, Gilles (contributor) - 2000

In this paper we study the structure of labor market flows in Spain and compare them with France and the US. We characterize a number of empirical regularities and stylized facts. One striking result is that the job finding rate is slightly higher than in France, while the job loss rate is much...

Persistent link: https://www.econbiz.de/10009520500

The effect of income on mortality : new evidence for the absence of a causal link

Ahammer, Alexander; Horvath, Gerard Thomas; … - 2015

endogeneity concerns arising in this context, we estimate time-invariant firm-specific wage components and use them as instruments …

Persistent link: https://www.econbiz.de/10011295560

Seniority wages and the role of firms in retirement

Frimmel, Wolfgang; Horvath, Gerard Thomas; … - 2015

expensive older workers into retirement. Based on the seniority wage model developed by Lazear (1979), we discuss steep … seniority wage profiles as incentives for firms to dismiss older workers before retirement. Conditional on individual retirement … incentives, e.g., social security wealth or health status, the steepness of the wage profile will have different incentives for …

Persistent link: https://www.econbiz.de/10011296070

Some thoughts on macroeconomic fluctuations and the timing of labor market reform

Saint-Paul, Gilles - 2002

In this paper, I analyze the pros and cons of implementing structural reforms of the labor market in booms vs. recessions, in light of considerations of social efficiency, political viability, and macroeconomic fine tuning. While the optimal timing of a reform depends on the relative importance...

Persistent link: https://www.econbiz.de/10011414121

Cognitive ability and paternalism

Saint-Paul, Gilles - 2002

This paper analyses the welfare effects of price restrictions on private contracting in a world where agents have a limited cognitive ability. People compute the costs and benefits of entering a transaction with an error. The government knows the distribution of true costs and benefits as well...

Persistent link: https://www.econbiz.de/10011414080

Banking on snow : bank capital, risk, and employment

Baumgartner, Simon; Stomper, Alex; Schober, Thomas; … - 2022

How does small-firm employment respond to exogenous labor productivity risk? We find that this depends on the capitalization of firms' local banks. The evidence comes from firms offering (quasi-) fixed employment to workers whose productivity depends on the weather. Weather risk reduces this...

Persistent link: https://www.econbiz.de/10013358738

Genes, legitimacy and hypergamy : another look at the economics of marriage

Saint-Paul, Gilles - 2009

In order to credibly "sell" legitimate children to their spouse, women must forego more attractive mating opportunities. This paper derives the implications of this observation for the pattern of matching in marriage markets, the dynamics of human capital accumulation, and the evolution of the...

Persistent link: https://www.econbiz.de/10003901742