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dc.contributor.authorGöcke, Matthiasen
dc.date.accessioned2009-08-26-
dc.date.accessioned2010-03-05T15:38:25Z-
dc.date.available2010-03-05T15:38:25Z-
dc.date.issued2009-
dc.identifier.urihttp://hdl.handle.net/10419/30081-
dc.description.abstractA simple model evaluating a firm’s optimal employment reaction to an imminent recession is presented. Firing costs shelter employment – and this effect is typically amplified by uncertainty due to an option value of waiting. However, this job protection effect is reduced if the expected probability of a setback increases, and if the expected duration and size of a recession grows. If a severe recession is expected with a high probability the option to wait with firing looses its value, thus, immediate layoffs and market exits become the optimal strategy even before the recession turns out to be actual.en
dc.language.isoengen
dc.publisher|aPhilipps-University Marburg, Faculty of Business Administration and Economics |cMarburgen
dc.relation.ispartofseries|aMAGKS Joint Discussion Paper Series in Economics |x2009,18en
dc.subject.jelD81en
dc.subject.jelJ63en
dc.subject.ddc330en
dc.subject.keywordFiring costs and uncertaintyen
dc.subject.keywordprobabilityen
dc.subject.keywordduration and size of recessionen
dc.titleFiring versus continuing employment if an economic setback is expected-
dc.type|aWorking Paperen
dc.identifier.ppn603933297en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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