@techreport{Pfann2001Downsizing,
abstract = {Optimal layoff rules in closed form are derived for all workers in a firm that downsizes under
uncertainty and faces heterogeneous firing costs. The theoretical model predicts that the firm
displaces workers with low firing costs, low expected future productivity growth, and low
layoff option values. The empirical analysis based on personnel records from a Dutch aircraft
building company that went bankrupt in 1996 shows that workers with high uncertainty
associated with higher than average expected productivity growth are most likely to be
retained.},
author = {Gerard A. Pfann},
copyright = {http://www.econstor.eu/dspace/Nutzungsbedingungen},
keywords = {J33; J63; 330; Layoff rules; firing costs; uncertainty; heterogeneity; Personalabbau; K\"{u}ndigung; Kosten; Arbeitsproduktivit\"{a}t; Entscheidung bei Unsicherheit; Luftfahrtindustrie; Theorie; Niederlande; Koninklijke Nederlandse Vliegtuigenfabriek, Fokker <Amsterdam>},
language = {eng},
number = {307},
title = {Downsizing},
type = {IZA Discussion paper series},
url = {http://hdl.handle.net/10419/21162},
year = {2001}
}
