period and firms react by choosing employment, and (ii) for the commitment equilibria where the union can precommit to the … entire (infinite) sequence of wages. We conclude that the speed of adjustment of employment, that is higher in the … employment and wages only in the no-commitment case, i.e., the higher the relevance of adjustment costs the higher the wage and …

of routine employment and its consequent impacts on inequality. …

recession and in its aftermath, including the sharp decline in labor force participation and informal employment that is unique … technologies introduced at the trough of the recession bolsters the recovery of GDP, total employment, and labor income, and leads … to a larger expansion in the share of formal employment compared to the no-policy scenario. In the long run, the economy …

How important is imperfect competition in the product market for employment dynamics? To investigate this, we formulate … a theoretical model of employment adjustment with imperfect competition in the product market, search frictions, and … convex adjustment costs. From this model, we derive a structural equation for employment that we estimate on firm-level data …

equilibria. Variable labor effort gives rise to increasing returns to hours in production. This makes workers more valuable and …

expected magnitudes of these effects on firms’ employment dynamics? In this paper, I simulate a theoretical model featuring … simulations show quite small employment effects of typical shocks to the number of vacancies in the local labor market and very … small effects of typical shocks to the number of unemployed. The employment effects are smaller in recessions than in booms …