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Employment Protection, Exit and Macroeconomic Dynamics

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  • Roberto M Samaniego

Abstract

This paper studies the role of entry and exit in the short run behavior of a general equilibrium model with industry dynamics. For tractability, and to preserve potential asymmetries in the impulse responses, I focus on the transition dynamics of the economy after shocks. Entry and exit are found to be insensitive to productivity shocks of reasonable magnitude. Moreover, the dynamics of GDP are insensitive to fluctuations in entry and exit rates, so that any asymmetries are negligible. As an application of the model, the paper also asks whether firing costs may interact with entry and exit to affect transition dynamics after shocks, finding that they do not. (Copyright: Elsevier)
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Roberto M Samaniego, 2003. "Employment Protection, Exit and Macroeconomic Dynamics," Computing in Economics and Finance 2003 28, Society for Computational Economics.
    • Handle: RePEc:sce:scecf3:28
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    JEL classification:

    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • J63 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Turnover; Vacancies; Layoffs
    • L51 - Industrial Organization - - Regulation and Industrial Policy - - - Economics of Regulation

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