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Sequentiality versus simultaneity : interrelated factor demand
Asphjell, Magne Krogstad; Letterie, Wilko A.; Nilsen, … - 2010
A structural model is developed and estimated by a maximum likelihood routine to investigate interrelated factor demand subject to nonconvex adjustment costs. The dataset concerns Norwegian plants operating in manufacturing industries and it covers the period 1993-2005. The estimates indicate...
Persistent link: https://www.econbiz.de/10009312924
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Employment adjustment in German firms
Jung, Sven - 2012
several countries, firms' adjustment costs for employment are characterized by a fixed and convex functional form. Furthermore …-2010 also indicates that adjustment behavior has changed over time. Comparing the employment adjustment in the two observed … ; employment adjustment ; Germany …
Persistent link: https://www.econbiz.de/10009664248
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Labor Adjustment Costs in a Panel of Establishments : A Structural Approach
Ejarque, João; Portugal, Pedro - 2021
This paper estimates a structural model of the employment decision of the firm. Our establishment level data displays … an extreme degree of rigidity in that employment levels are largely constant throughout our sample. This can be due to …
Persistent link: https://www.econbiz.de/10013316788
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Working Time and Employment Under Uncertainty
Chen, Yu-Fu; Funke, Michael - 2021
can choose between employment and overtime (given mandated standard hours). Contrary to this approach, we consider the … impact of uncertainty and real options on the decision of working time, i.e. we examine the determinants of employment and …
Persistent link: https://www.econbiz.de/10013320500
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Effective Labor Regulation and Microeconomic Flexibility
Caballero, Ricardo J.; Cowan, Kevin N.; Engel, Eduardo … - Cowles Foundation for Research in Economics, Yale University - 2004
Microeconomic flexibility is at the core of economic growth in modern market economies because it facilitates the process of creative-destruction, The main reason why this process is not infinitely fast, is the presence of adjustment costs, some of them technological, others institutional. Chief...
Persistent link: https://www.econbiz.de/10005087356
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Effective Labor Regulation and Microeconomic Flexibility
Caballero, Ricardo J.; Engel, Eduardo M.R.A.; Micco, … - Economic Growth Center, Economics Department - 2004
Microeconomic flexibility, by facilitating the process of creative-destruction, is at the core of economic growth in modern market economies. The main reason for why this process is not infinitely fast is the presence of adjustment costs, some of them technological, others institutional. Chief...
Persistent link: https://www.econbiz.de/10005357759
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Effective labor regulation and microeconomic flexibility
Caballero, Ricardo J.; Cowan, Kevin N.; Engel, Eduardo … - In: Journal of Development Economics 101 (2013) C, pp. 92-104
Microeconomic flexibility is at the core of economic growth in modern market economies because it facilitates the process of creative-destruction. The main reason why this process is not infinitely fast, is the presence of adjustment costs, some of them technological, others institutional. Chief...
Persistent link: https://www.econbiz.de/10010636573
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Interrelated Factor Demand with Nonconvex Adjustment Costs
Letterie, Wilko H.; Nilsen, Øivind Anti; Pfann, Gerard A. - 2010
In this paper we develop a model to describe a firm’s demand for two production factors which is subject to the presence of nonconvex adjustment costs. In our model simultaneous adjustment of these two production factors may either increase or decrease the total costs incurred by the firm. The...
Persistent link: https://www.econbiz.de/10014198111
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The Economics of Labor Adjustment : Mind the Gap
Willis, Jonathan L.; Cooper, Russell - 2013
[1993] and Caballero, Engel and Haltiwanger [1997]. In that approach, the policy function for employment growth is assumed … to depend on an unobservable gap between the target and current levels of employment. Using time series observations …, these studies reject the partial adjustment model and find that aggregate employment dynamics depend on the cross …
Persistent link: https://www.econbiz.de/10014122275
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Effective Labor Regulation and Microeconomic Flexibility
Caballero, Ricardo J.; Engel, Eduardo M. R. A.; Cowan, Kevin - 2011
Microeconomic flexibility is at the core of economic growth in modern market economies because it facilitates the process of creative-destruction, The main reason why this process is not infinitely fast, is the presence of adjustment costs, some of them technological, others institutional. Chief...
Persistent link: https://www.econbiz.de/10014070107