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On the Persistence of Firm Expansion. The survival of new jobs in Austrian firms

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Author Info
Böheim, René (Department of Economics, University of Linz)
Stiglbauer, Alfred (Oesterreichische Nationalbank)
Winter-Ebmer, Rudolf (Department of Economics and Finance, Institute for Advanced Studies and University of Linz; IZA, Bonn; CEPR, London)

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Abstract

While the volatility of job creations has been studied extensively, the survival chances of new jobs are less researched. The question when and how to expand a firm is of importance, both from the firm’s and from a macro perspective. Adjustment cost theories and arguments about option values of investment in firm expansion make predictions about the timing, sequencing and form of firm expansions. When we analyze 21 years of job creation in Austria, we find that the survival of new jobs (and of new firms) depends upon the state of the business cycle at the time of job creation, on the number of jobs created, and on firm age. Jobs in new firms last longer than new jobs in continuing firms.

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File URL: http://www.ihs.ac.at/publications/eco/es-173.pdf
File Format: application/pdf
File Function: First version, 2005
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Publisher Info
Paper provided by Institute for Advanced Studies in its series Economics Series with number 173.

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Length: 21 pages
Date of creation: Jul 2005
Date of revision:
Handle: RePEc:ihs:ihsesp:173

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Related research
Keywords: Job creation; Business cycle; Reallocation; Persistence;

Find related papers by JEL classification:
J23 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Demand
J63 - Labor and Demographic Economics - - Mobility, Unemployment, and Vacancies - - - Turnover; Vacancies; Layoffs
E24 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution
E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles

References listed on IDEAS
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    Other versions:
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    Other versions:
  6. Audretsch, David B & Mahmood, Talat, 1995. "New Firm Survival: New Results Using a Hazard Function," The Review of Economics and Statistics, MIT Press, vol. 77(1), pages 97-103, February. [Downloadable!] (restricted)
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    Other versions:
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  14. Hamermesh, Daniel S, 1989. "Labor Demand and the Structure of Adjustment Costs," American Economic Review, American Economic Association, vol. 79(4), pages 674-89, September. [Downloadable!] (restricted)
    Other versions:
  15. Caballero, Ricardo J & Hammour, Mohamad L, 1996. "On the Timing and Efficiency of Creative Destruction," The Quarterly Journal of Economics, MIT Press, vol. 111(3), pages 805-52, August. [Downloadable!] (restricted)
    Other versions:
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This page was last updated on 2009-11-27.

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