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Capacity utilisation, constraints and price adjustments under the Microscope
Lein, Sarah M.; Köberl, Eva - 2009
This paper analyses the interplay of capacity utilisation, capacity constraints, demand constraints and price … reluctant to reduce prices in response to demand constraints. At the macro level, the implied capacity-utilisation Phillips … curve has a convex shape during periods of excess demand and a concave shape during periods of excess supply. Our results …
Persistent link: https://www.econbiz.de/10010285797
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Trade liberalization and labor market dynamics
Dix-Carneiro, Rafael - 2011
I study trade-induced transitional dynamics by estimating a structural dynamic equilibrium model of the Brazilian labor market. The model features a multi-sector economy with overlapping generations, heterogeneous workers, endogenous accumulation of sector-specific experience and costly...
Persistent link: https://www.econbiz.de/10010326791
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Empirical representation of firms' employment decisions by an (S,s) rule
Rota, Paola - 2001
consider the case of labour demand with fixed adjustment costs. The (S,s) rule implies a specific ordering of choices: downward …
Persistent link: https://www.econbiz.de/10011608783
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Why do firms use fixed-term contracts?
Portugal, Pedro; Varejão, José - 2009
Temporary forms of employment account for a variable but never trivial share of total employment in both the U.S. and in Europe. In this article we look at how one specific form of temporary employment - employment with fixed-term contracts - fits into employers' hiring policies. We find that...
Persistent link: https://www.econbiz.de/10010271266
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The intensive margin puzzle and labor market adjustment costs
Wesselbaum, Dennis - 2011
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...
Persistent link: https://www.econbiz.de/10010274437
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Driving factors of growth in Hungary - a decomposition exercise
Kátay, Gábor; Wolf, Zoltán - 2008
Applications tend to ignore that measured TFP reflects the variation of output that cannot be explained by changes in inputs. Such a change is not necessarily technological, so measured TFP differences across firms are an amalgam of technological, efficiency and other differences in attributes,...
Persistent link: https://www.econbiz.de/10010322437
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Adjustment costs and the identification of Cobb Douglas production functions
Bond, Stephen; Söderbom, Måns - 2005
Cobb Douglas production function parameters are not identified from cross-section variation when inputs are perfectly flexible and chosen optimally, and input prices are common to all firms. We consider the role of adjustment costs for inputs in identifying these parameters in this context. The...
Persistent link: https://www.econbiz.de/10010293058
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Assessing the Impact of Trade Policy on Labor Markets and Production
Francois, Joseph - 2004
This paper discusses the measurement of production and employment effects of trade policy, and more broadly the effects of economic integration and globalization. First, it provides a broad-brush overview of the ex-post literature linking trade to performance, such as measures of worker...
Persistent link: https://www.econbiz.de/10010325413
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Dynamic labour demand with lumpy and kinked adjustment costs
Rota, Paola - 2001
We analyse the dynamics of firms' employment decisions which underlie lumpy and kinked adjustment costs. We consider a dynamic structural model in which, in each period, firms face a choice of whether to vary the labour input or to postpone the adjustment to the future. By exploiting the first...
Persistent link: https://www.econbiz.de/10011608782
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Lost in Transition: The Costs and Consequences of Sectoral Labour Adjustment
Tapp, Stephen - 2007
This paper demonstrates that factors which impede labour market adjustments can have first-order impacts on aggregate output and social welfare. While several studies find that individual workers can face large and persistent sectoral reallocation costs, this paper shows that these costs are...
Persistent link: https://www.econbiz.de/10011940756