Employment flows, capital mobility, and policy analysis

• 成果类型: Article
• 署名作者: Veracierto, M
• 署名单位: Federal Reserve System - USA; Federal Reserve Bank - Chicago
• 刊物名称: INTERNATIONAL ECONOMIC REVIEW
• ISSN/ISSBN: 0020-6598
• DOI: 10.1111/1468-2354.00125
• 发表日期: 2001
• 页码: 571-595
• 关键词: indivisible labor; equilibrium; GROWTH; MARKET

摘要

This article extends Hopenhayn and Rogerson's analysis of firing taxes by introducing a flexible form of capital and considering transitionary dynamics. The article finds that capital is not important for understanding the long run and welfare effects of firing taxes. However, capital is crucial for determining the short run consequences of eliminating this type of policy.