Showing 1 - 3 of 3
This paper analyzes the effect of Product Market Regulation (PMR) on unemployment in a search model with heterogeneous multiple-worker firms. In our setup, PMR modifies the distribution of firm productivities, thereby affecting the equilibrium rate of unemployment. We distinguish between PMR...
Persistent link: https://www.econbiz.de/10011082130
to inefficient separations so that signaling yields employment and welfare gains.
Persistent link: https://www.econbiz.de/10011082146
Consumer debt has increased substantially in the US since the 1980s. We show in a incomplete-markets model with durables and occasionally binding collateral constraints that neither the higher uninsurable income risk of US consumers nor the financial deregulation explain this increase. The...
Persistent link: https://www.econbiz.de/10011082084