This file is part of IDEAS , which uses RePEc data
[ Papers |
Articles |
Software |
Books |
Chapters |
Authors |
Institutions |
JEL Classification |
NEP reports |
Search |
New papers by email |
Author registration |
Rankings |
Volunteers |
FAQ |
Blog |
Help! ]
Downsizing Author info | Abstract | Publisher info | Download info | Related research | Statistics Gerard A. Pfann
Additional information is available for the following
registered author(s):
Optimal layoff rules in closed form are derived for all workers in a firm that downsizes under uncertainty and faces heterogeneous firing costs. The theoretical model predicts that the firm displaces workers with low firing costs, low expected future productivity growth, and low layoff option values. The empirical analysis based on personnel records from a Dutch aircraft building company that went bankrupt in 1996 shows that workers with high uncertainty associated with higher than average expected productivity growth are most likely to be retained.
To download:
If you experience problems downloading a file, check if you have the
proper application to
view it first. Information about this may be contained
in the File-Format links below. In case of further problems read
the IDEAS help
page . Note that these files are not on the IDEAS
site. Please be patient as the files may be large.
Paper provided by Harris School of Public Policy Studies, University of Chicago in its series Working Papers with number
0110.
Download reference. The following formats are available: HTML
(with abstract ),
plain text
(with abstract ),
BibTeX ,
RIS (EndNote, RefMan, ProCite),
ReDIF
Length:
Date of creation: Apr 2001Date of revision:
Handle: RePEc:har:wpaper:0110Contact details of provider: Postal: 1155 East 60th Street, Chicago, IL 60637 Phone: 773-702-8400 Email: Web page: http://harrisschool.uchicago.edu/ More information through EDIRC
For technical questions regarding this item, or to correct its listing, contact: (Eleanor Cartelli).
Keywords: downsizing ; layoff ; personnel ; Other versions of this item:
References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.: Edward P. Lazear, 1995.
"Hiring Risky Workers ,"
NBER Working Papers
5334, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted)
Farber, Henry S & Gibbons, Robert, 1996.
"Learning and Wage Dynamics ,"
The Quarterly Journal of Economics ,
MIT Press, vol. 111(4), pages 1007-47, November.
[Downloadable!] (restricted)
Paul Oyer & Scott Schaefer, 2000.
"Layoffs and Litigation ,"
RAND Journal of Economics ,
The RAND Corporation, vol. 31(2), pages 345-358, Summer.
Other versions: Dixit, Avinash K, 1989.
"Entry and Exit Decisions under Uncertainty ,"
Journal of Political Economy ,
University of Chicago Press, vol. 97(3), pages 620-38, June.
[Downloadable!] (restricted)
Other versions: Merton, Robert C., 1975.
"Option pricing when underlying stock returns are discontinuous ,"
Working papers
787-75., Massachusetts Institute of Technology (MIT), Sloan School of Management.
[Downloadable!]
Other versions: Kletzer, Lori G, 1998.
"Job Displacement ,"
Journal of Economic Perspectives ,
American Economic Association, vol. 12(1), pages 115-36, Winter.
[Downloadable!] (restricted)
Bentolila, Samuel & Bertola, Giuseppe, 1990.
"Firing Costs and Labour Demand: How Bad Is Eurosclerosis? ,"
Review of Economic Studies ,
Blackwell Publishing, vol. 57(3), pages 381-402, July.
[Downloadable!] (restricted)
Thomas J. Sargent, 1973.
"Rational Expectations, the Real Rate of Interest, and the Natural Rate of Unemployment ,"
Brookings Papers on Economic Activity ,
Economic Studies Program, The Brookings Institution, vol. 4(1973-2), pages 429-480.
[Downloadable!]
Mortensen, Dale T & Pissarides, Christopher A, 1994.
"Job Creation and Job Destruction in the Theory of Unemployment ,"
Review of Economic Studies ,
Blackwell Publishing, vol. 61(3), pages 397-415, July.
[Downloadable!] (restricted)
Other versions: Pfann, Gerard A & Palm, Franz C, 1993.
"Asymmetric Adjustment Costs in Non-linear Labour Demand Models for the Netherlands and U.K. Manufacturing Sectors ,"
Review of Economic Studies ,
Blackwell Publishing, vol. 60(2), pages 397-412, April.
[Downloadable!] (restricted)
Other versions: Pfann, Gerard A., 2000.
"Options to Quit ,"
IZA Discussion Papers
197, Institute for the Study of Labor (IZA).
[Downloadable!]
Other versions:
Pfann, Gerard Antonie, 2000.
"Options to Quit ,"
CEPR Discussion Papers
2563, C.E.P.R. Discussion Papers.
[Downloadable!] (restricted) Pfann, Gerard A., 2001.
"Options to quit ,"
Economics Letters ,
Elsevier, vol. 70(2), pages 259-265, February.
[Downloadable!] (restricted) Pfann, Gerald A. & Verspagen, Bart, 1989.
"The structure of adjustment costs for labour in the Dutch manufacturing sector ,"
Economics Letters ,
Elsevier, vol. 29(4), pages 365-371.
[Downloadable!] (restricted)
Sargent, Thomas J, 1978.
"Estimation of Dynamic Labor Demand Schedules under Rational Expectations ,"
Journal of Political Economy ,
University of Chicago Press, vol. 86(6), pages 1009-44, December.
[Downloadable!] (restricted)
Other versions: Topel, Robert H & Ward, Michael P, 1992.
"Job Mobility and the Careers of Young Men ,"
The Quarterly Journal of Economics ,
MIT Press, vol. 107(2), pages 439-79, May.
[Downloadable!] (restricted)
Other versions: McLaughlin, Kenneth J, 1991.
"A Theory of Quits and Layoffs with Efficient Turnover ,"
Journal of Political Economy ,
University of Chicago Press, vol. 99(1), pages 1-29, February.
[Downloadable!] (restricted)
Baker, George & Gibbs, Michael & Holmstrom, Bengt, 1994.
"The Internal Economics of the Firm: Evidence from Personnel Data ,"
The Quarterly Journal of Economics ,
MIT Press, vol. 109(4), pages 881-919, November.
[Downloadable!] (restricted)
Hamermesh, Daniel S, 1987.
"The Costs of Worker Displacement ,"
The Quarterly Journal of Economics ,
MIT Press, vol. 102(1), pages 51-75, February.
[Downloadable!] (restricted)
Other versions: Pfann, Gerard A. & Hamermesh, Daniel, 2001.
"Two-Sided Learning, Labor Turnover and Worker Displacement ,"
IZA Discussion Papers
308, Institute for the Study of Labor (IZA).
[Downloadable!]
Other versions: Hamermesh, Daniel S & Pfann, Gerard Antonie, 1996.
"Adjustment Costs in Factor Demand ,"
CEPR Discussion Papers
1371, C.E.P.R. Discussion Papers.
[Downloadable!] (restricted)
Other versions: Jovanovic, Boyan, 1979.
"Firm-specific Capital and Turnover ,"
Journal of Political Economy ,
University of Chicago Press, vol. 87(6), pages 1246-60, December.
[Downloadable!] (restricted)
Nickell, S J, 1978.
"Fixed Costs, Employment and Labour Demand over the Cycle ,"
Economica ,
London School of Economics and Political Science, vol. 45(180), pages 329-45, November.
[Downloadable!] (restricted)
Walter Y. Oi, 1962.
"Labor as a Quasi-Fixed Factor ,"
Journal of Political Economy ,
University of Chicago Press, vol. 70, pages 538.
[Downloadable!] (restricted)
Joseph G. Altonji & Charles R. Pierret, 2001.
"Employer Learning And Statistical Discrimination ,"
The Quarterly Journal of Economics ,
MIT Press, vol. 116(1), pages 313-350, February.
[Downloadable!] (restricted)
Other versions:
Joseph G. Altonji & Charles R. Pierret, .
"Employer Learning and Statistical Discrimination ,"
IPR working papers
97-18, Institute for Policy Resarch at Northwestern University.
Joseph G. Altonji & Charles R. Pierret, 1997.
"Employer Learning and Statistical Discrimination ,"
NBER Working Papers
6279, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted) Joseph G. Altonji & Charles R. Pierret, 1997.
"Employer learning and statistical discrimination ,"
Working Paper Series, Macroeconomic Issues
WP-97-11, Federal Reserve Bank of Chicago.
Full
references Cited by : (explanations , Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.)
Hartmut Lehmann & Kaia Phillips & Jonathan Wadsworth, 2002.
"The Incidence and Cost of Job Loss in a Transition Economy: Displaced Workers in Estonia, 1989-1999 ,"
CERT Discussion Papers
0209, Centre for Economic Reform and Transformation, Heriot Watt University.
[Downloadable!]
Other versions:
Lehmann, Hartmut & Phillips, Kaia & Wadsworth, Jonathan, 2002.
"The Incidence and Cost of Job Loss in a Transition Economy: Displaced Workers in Estonia, 1989-1999 ,"
IZA Discussion Papers
567, Institute for the Study of Labor (IZA).
[Downloadable!] Hartmut Lehmann & Kaia Phillips & Jonathan Wadsworth, 2002.
"The Incidence and Cost of Job Loss in a Transition Economy: Displaced Workers in Estonia, 1989-1999 ,"
William Davidson Institute Working Papers Series
489, William Davidson Institute at the University of Michigan Stephen M. Ross Business School.
[Downloadable!] Sunde, Uwe, 2002.
"Unobserved Bilateral Search on the Labor Market: A Theory-Based Correction for a Common Flaw in Empirical Matching Studies ,"
IZA Discussion Papers
520, Institute for the Study of Labor (IZA).
[Downloadable!]
Access and
download statistics Did you know? Over five million full texts a year are downloaded through IDEAS.
This page was last updated on 2009-11-22.
This information is provided to you by IDEAS at the Department of Economics , College of Liberal Arts and Sciences , University of Connecticut using RePEc data on a server sponsored by the Society for Economic Dynamics .