Layoffs in a Recession and Temporary Employment Subsidies when a Recovery is Expected
Sunk firing costs shelter employment – and this effect is typically amplified by uncertainty due to an option value of waiting. Thus, if sunk firing costs are high, e.g. due to a mployment protection legislation, and if recession related losses are with a high probability expected to be only transit...
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| Published in: | MAGKS - Joint Discussion Paper Series in Economics (Band 29-2010) |
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| Main Author: | |
| Format: | Work |
| Language: | English |
| Published: |
Philipps-Universität Marburg
2010
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| Subjects: | |
| Online Access: | PDF Full Text |
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MAGKS - Joint Discussion Paper Series in Economics