Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/30081 
Autor:innen: 
Erscheinungsjahr: 
2009
Schriftenreihe/Nr.: 
MAGKS Joint Discussion Paper Series in Economics No. 2009,18
Verlag: 
Philipps-University Marburg, Faculty of Business Administration and Economics, Marburg
Zusammenfassung: 
A 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.
Schlagwörter: 
Firing costs and uncertainty
probability
duration and size of recession
JEL: 
D81
J63
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
216.29 kB





Publikationen in EconStor sind urheberrechtlich geschützt.