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  4. Employment Protection, Product Market Regulation and Firm Selection
 
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Employment Protection, Product Market Regulation and Firm Selection

Journal
Economic Journal
ISSN
0013-0133
Type
journal article
Date Issued
2007-06
Author(s)
Prat, Julien
Koeniger, Winfried  
DOI
10.1111/j.1468-0297.2007.02058.x
Abstract
Why are firm and job turnover rates so similar across OECD countries? We argue that this may be due to the joint regulation of product and labour markets. For our analysis, we build a stochastic equilibrium model with search frictions and heterogeneous multiple‐worker firms. This allows us to distinguish firm entry and exit from hiring and firing in a model with equilibrium unemployment. We show that firing costs, sunk entry costs and bureaucratic flow costs have countervailing effects on firm and job turnover as different types of firms select to operate in the market.
Language
English
Keywords
Employment Protection
Product Market Regulation
Firm Selection
HSG Classification
contribution to scientific community
HSG Profile Area
SEPS - Economic Policy
Refereed
Yes
Publisher
Wiley-Blackwell
Publisher place
Oxford
Volume
117
Number
521
Start page
F302
End page
F332
Pages
31
URL
https://www.alexandria.unisg.ch/handle/20.500.14171/80650
Subject(s)

economics

Division(s)

SEPS - School of Econ...

SEW - Swiss Institute...

Eprints ID
235065

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