associated with it. In particular, we distinguish between employment, hours and effort per worker, and allow for adjustment costs … associated with employment changes. We assume that the requirement function for effective hours has a general trans …-logarithmic form, and derive an estimable system of Euler equations for inventories and employment with implied cross …

associated with it. In particular, we distinguish between employment, hours and effort per worker, and allow for adjustment costs … associated with employment changes. We assume that the requirement function for effective hours has a general trans …-logarithmic form, and derive an estimable system of Euler equations for inventories and employment with implied cross …

can choose between employment and overtime (given mandated standard hours). Contrary to this approach, we follow the real … rate regimes obey common employment adjustment thresholds. …

In this paper we analyse the employment implications of firing restrictions. We find that when a recession is expected … is a negative effect on average employment. When, on the other hand, a boom is expected and the rate of productivity … growth is large, firing costs affect mainly the firing decision. Then, as a result, average employment is increased. Our …

-skilled employees, suggesting that as skill levels of employees decrease it becomes equally probable that they work for different …

product. When oligopsonistic firms' production technology requires generally trained workers, firms may therefore receive part …

, distinguishing different skill levels. We analyze whether labor shortage resulted in stopping or abandoning of innovation projects … likely to be subject to skill shortage, whereas skill shortage induces the cancellation of innovation projects. Effects are …

-skilled employees, suggesting that as skill levels of employees decrease it becomes equally probable that they work for different …

product. When oligopsonistic firms' production technology requires generally trained workers, firms may therefore receive part …