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Saint-Paul, Gilles - C.E.P.R. Discussion Papers - 1992

may have increased unemployment, and shows that this is likely to occur if technological change is associated with an …

Persistent link: https://www.econbiz.de/10005666594

Factor Adjustments after Deregulation: Panel Evidence from Colombian Plants

Eslava, Marcela; Haltiwanger Jr, John C; Kugler, Adriana D. - C.E.P.R. Discussion Papers - 2005

In this paper, we analyse employment and capital adjustments using a panel of plants from Colombia. We allow for nonlinear adjustment of employment to reflect not only adjustment costs of labour but also adjustment costs of capital, and vice-versa. Using data from the Annual Manufacturing...

Persistent link: https://www.econbiz.de/10005124008

The Joint Behavior of Hiring and Investment

Yashiv, Eran - C.E.P.R. Discussion Papers - 2011

This paper explores the dynamic behavior of investment and hiring within a unified framework, stressing their mutual dependence and placing the emphasis on their joint, forward-looking behavior. Using structural estimation in aggregate, private sector U.S. data, it shows that the model, which...

Persistent link: https://www.econbiz.de/10008854549

Labour and the Market Value of the Firm

Merz, Monika; Yashiv, Eran - C.E.P.R. Discussion Papers - 2004

What role does labour play in firms’ market value? We explore this question using a production-based asset-pricing model with frictions in the adjustment of both capital and labor. We posit that hiring of labour is akin to investment in capital and that the two interact, with the interaction...

Persistent link: https://www.econbiz.de/10005114309

Privatization, Entry Regulation and the Decline of Labour's Share of GDP: A Cross-Country Analysis of the Network Industries

Azmat, Ghazala; Manning, Alan; Van Reenen, John - C.E.P.R. Discussion Papers - 2007

Labour's share of GDP in most OECD countries has declined over the last two decades. Some authors have suggested that these changes are linked to deregulation of product and labour markets. To examine this we focus on a large quasi-experiment in the OECD: the privatization of many network...

Persistent link: https://www.econbiz.de/10005114490

The Effect of Shocks to Labour Market Flows on Unemployment and Participation Rates

Dixon, Robert; Lim, Guay C.; Ours, Jan C van - C.E.P.R. Discussion Papers - 2014

interact and affect the evolution of unemployment rates and participation rates, the two main indicators of labour market … performance. Our analysis has two special features. First, apart from the two labour market states - employment and unemployment … that a shock to the net flow from unemployment to employment drive the unemployment rate and the participation rate in …

Persistent link: https://www.econbiz.de/10011083713

Labor Force Participation and Monetary Policy in the Wake of the Great Recession

Erceg, Christopher; Levin, Andrew - C.E.P.R. Discussion Papers - 2013

In this paper, we provide compelling evidence that cyclical factors account for the bulk of the post-2007 decline in the U.S. labor force participation rate. We then proceed to formulate a stylized New Keynesian model in which labor force participation is essentially acyclical during "normal...

Persistent link: https://www.econbiz.de/10011084036

Worker Identity, Employment Fluctuations and Stabilization Policy

Lechthaler, Wolfgang; Snower, Dennis J. - C.E.P.R. Discussion Papers - 2013

This paper provides a model of "social hysteresis," whereby long, deep recessions demotivate workers and thereby lead them to change their work ethic. In switching from a pro-work to an anti-work identity, their incentives to seek and retain work fall and consequently their employment chances...

Persistent link: https://www.econbiz.de/10011084645

Taxes, Benefits, and Careers: Complete Versus Incomplete Markets

Ljungqvist, Lars; Sargent, Thomas J - C.E.P.R. Discussion Papers - 2007

An incomplete markets life-cycle model with indivisible labour makes career lengths and human capital accumulation respond to labour tax rates and government supplied non-employment benefits. We compare aggregate and individual outcomes in this individualistic incomplete markets model with those...

Persistent link: https://www.econbiz.de/10005656326

Between-Group Competition In The Labour Market And The Rising Returns To Skill: US And France 1964-2000

Wasmer, Etienne - C.E.P.R. Discussion Papers - 2001

This Paper describes the changes in the composition of the labour force in the last 35 years and quantifies the substitution of low education / high experience workers by low experience / high education workers by using US and French microdata. The consequences of this substitution on the wage...

Persistent link: https://www.econbiz.de/10005656354