We build a small open economy, real business cycle model with labor market frictions to evaluate the role of employment … significant change in aggregate employment …

points are two. First, firing costs are introduced in an efficiency wage model to capture their effects on employment though … used: the view that firing costs reduce employment, the idea that firing costs are neutral on employment if markets are … will not be costless, and therefore firing costs will have a negative effect on aggregate employment. Some policy …

We build a small open economy, real business cycle model with labor market frictions to evaluate the role of employment … significant change in aggregate employment …

This paper explores the short-term employment effect of deregulating job protection forregular workers and how it … of sectoral employment to largejob protection deregulation shocks depend crucially on the state of the economy at the …