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How Do Lay--off Costs Affect Employment?

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Author Info
Lars Ljungqvist (Stockholm School of Economics and CEPR)
Abstract

General equilibrium analyses of lay--off costs have had mixed messages on the implications for employment. This paper brings out the economic forces at work and sheds light on the disparate results. We explain why lay--off costs tend to increase employment in search models while the opposite is true in models with employment lotteries. In matching models, we show that the employment effects depend critically on how lay--off costs are assumed to enter the bargaining process. Copyright Royal Economic Society 2002

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Article provided by Royal Economic Society in its journal The Economic Journal.

Volume (Year): 112 (2002)
Issue (Month): 482 (October)
Pages: 829-853
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Handle: RePEc:ecj:econjl:v:112:y:2002:i:482:p:829-853

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  1. César Alonso-Borrego & Jesús Fernández-Villaverde & José E. Galdón-Sánchez, 2004. "Evaluating Labor Market Reforms: A General Equilibrium Approach," Economics Working Papers we042307, Universidad Carlos III, Departamento de Economía. [Downloadable!]
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  2. Besancenot, Damien & Vranceanu, Radu, 2007. "Multiple Equilibria in a Firing Game With Impartial Justice," ESSEC Working Papers DR 07025, ESSEC Research Center, ESSEC Business School. [Downloadable!]
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  3. Andreas Hornstein & Per Krusell & Giovanni L. Violante, 2006. "Technology-policy interaction in frictional labor markets," Working Paper 06-10, Federal Reserve Bank of Richmond. [Downloadable!]
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  4. Lars Ljungqvist, 2003. "European Unemployment: Labour Market Institutions and Economic Turbulence," CESifo DICE Report, Ifo Institute for Economic Research at the University of Munich, vol. 1(2), pages 7-12, October. [Downloadable!]
  5. Boeri, Tito & Burda, Michael C., 2008. "Preferences for Collective versus Individualised Wage Setting," IZA Discussion Papers 3365, Institute for the Study of Labor (IZA). [Downloadable!]
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  6. Juan J. Dolado & Marcel Jansen & Juan F. Jimeno, 2005. "Dual Employment Protection Legislation: A Framework for Analysis," IZA Discussion Papers 1564, Institute for the Study of Labor (IZA). [Downloadable!]
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  7. Marloes de Graaf-Zijl, 2005. "The Attractiveness of Temporary Employment to Reduce Adjustment Costs," Tinbergen Institute Discussion Papers 05-121/3, Tinbergen Institute. [Downloadable!]
  8. Boeri, Tito & Burda, Michael C., 2004. "Preferences for Rigid versus Individualized Wage Setting in Search Economies with Frictions," IZA Discussion Papers 1133, Institute for the Study of Labor (IZA). [Downloadable!]
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  9. Joseph, Gilles & Pierrard, Olivier & Sneessens, Henri R., 2003. "Job Turnover, Unemployment and Labor Market Institutions," IZA Discussion Papers 835, Institute for the Study of Labor (IZA). [Downloadable!]
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  10. George Alessandria & Alain Delacroix, 2007. "Trade and the (Dis)Incentive to Reform Labor Markets: The Case of Reform in the European Union," Cahiers de recherche 0738, CIRPEE. [Downloadable!]
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  11. Pinoli, Sara, 2007. "Employment Protection and Labor Productivity: Positive or Negative?," MPRA Paper 11775, University Library of Munich, Germany. [Downloadable!]
  12. Ljungqvist, Lars & Sargent, Thomas J, 2005. "Jobs and Unemployment in Macroeconomic Theory: A Turbulence Laboratory," CEPR Discussion Papers 5340, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
  13. Bauer, Thomas K. & Bender, Stefan & Bonin, Holger, 2004. "Dismissal Protection and Worker Flows in Small Establishments," IZA Discussion Papers 1105, Institute for the Study of Labor (IZA). [Downloadable!]
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