Vindigni, Andrea; Tealdi, Cristina - Economics, Markets, Institutions, IMT Lucca Institute … - 2012
process describing the dynamics of productivity, depends on the power of labor to extract rents and on the status quo level of … market rigidity only where labor appropriates of relatively large rents. Moreover, we demonstrate that when the status quo … favor the demise of high firing costs in rigid high-rents economies, because "good times" cut down the support for …