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A growing literature integrates theories of debt management into models of optimal fiscal policy. One promising theory argues that the composition of government debt should be chosen so that fluctuations in the market value of debt offset changes in expected future deficits. This complete market...
Persistent link: https://www.econbiz.de/10005168476
Summary We make several extensions to the recent literature on job loss while modernizing the very early job-displacement literature. After constructing a dynamic model of two-sided learning between a firm and its workers, we estimate it using personnel data from Fokker Aircraft that cover the...
Persistent link: https://www.econbiz.de/10014609204
Persistent link: https://www.econbiz.de/10004372595