Fixed-term employment contracts in an equilibrium search model:
Fixed-term employment contracts have been introduced in number of European countries as a way to provide flexibility to economies with high employment protection levels. We introduce these contracts into the equilibrium search model in Alvarez and Veracierto (1999), a version of the Lucas and Presco...
Gespeichert in:
| Hauptverfasser: | , |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Cambridge, Mass.
National Bureau of Economic Research
2006
|
| Schriftenreihe: | Working paper series / National Bureau of Economic Research
12791 |
| Online-Zugang: | Volltext |
| Zusammenfassung: | Fixed-term employment contracts have been introduced in number of European countries as a way to provide flexibility to economies with high employment protection levels. We introduce these contracts into the equilibrium search model in Alvarez and Veracierto (1999), a version of the Lucas and Prescott island model, adapted to have undirected search and variable labor force participation. We model a contract of length J as a tax on separations of workers with tenure higher than J. We show a version of the welfare theorems, and characterize the efficient allocations. This requires solving a control problem, whose solution is characterized by two dimensional inaction sets. For J=1 these contracts are equivalent to the case of firing taxes, and for large J they are equivalent to the laissez-faire case. In a calibrated verion of the model, we find that temporary contracts with J equivalent to three years length close about half of the gap between those two extremes. |
| Beschreibung: | Literaturverz. S. 36 - 37 |
| Beschreibung: | 37, XXXIV S. graph. Darst. 22 cm |
Internformat
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| 245 | 1 | 0 | |a Fixed-term employment contracts in an equilibrium search model |c Fernando Alvarez ; Marcelo Veracierto |
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| 490 | 1 | |a Working paper series / National Bureau of Economic Research |v 12791 | |
| 500 | |a Literaturverz. S. 36 - 37 | ||
| 520 | |a Fixed-term employment contracts have been introduced in number of European countries as a way to provide flexibility to economies with high employment protection levels. We introduce these contracts into the equilibrium search model in Alvarez and Veracierto (1999), a version of the Lucas and Prescott island model, adapted to have undirected search and variable labor force participation. We model a contract of length J as a tax on separations of workers with tenure higher than J. We show a version of the welfare theorems, and characterize the efficient allocations. This requires solving a control problem, whose solution is characterized by two dimensional inaction sets. For J=1 these contracts are equivalent to the case of firing taxes, and for large J they are equivalent to the laissez-faire case. In a calibrated verion of the model, we find that temporary contracts with J equivalent to three years length close about half of the gap between those two extremes. | ||
| 700 | 1 | |a Veracierto, Marcelo |e Verfasser |0 (DE-588)132870509 |4 aut | |
| 776 | 0 | 8 | |i Erscheint auch als |n Online-Ausgabe |
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Datensatz im Suchindex
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| author | Alvarez, Fernando 1964- Veracierto, Marcelo |
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| id | DE-604.BV023592712 |
| illustrated | Illustrated |
| index_date | 2024-07-02T22:41:30Z |
| indexdate | 2024-07-09T21:25:13Z |
| institution | BVB |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-016908042 |
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| physical | 37, XXXIV S. graph. Darst. 22 cm |
| publishDate | 2006 |
| publishDateSearch | 2006 |
| publishDateSort | 2006 |
| publisher | National Bureau of Economic Research |
| record_format | marc |
| series2 | Working paper series / National Bureau of Economic Research |
| spelling | Alvarez, Fernando 1964- Verfasser (DE-588)12855178X aut Fixed-term employment contracts in an equilibrium search model Fernando Alvarez ; Marcelo Veracierto Cambridge, Mass. National Bureau of Economic Research 2006 37, XXXIV S. graph. Darst. 22 cm txt rdacontent n rdamedia nc rdacarrier Working paper series / National Bureau of Economic Research 12791 Literaturverz. S. 36 - 37 Fixed-term employment contracts have been introduced in number of European countries as a way to provide flexibility to economies with high employment protection levels. We introduce these contracts into the equilibrium search model in Alvarez and Veracierto (1999), a version of the Lucas and Prescott island model, adapted to have undirected search and variable labor force participation. We model a contract of length J as a tax on separations of workers with tenure higher than J. We show a version of the welfare theorems, and characterize the efficient allocations. This requires solving a control problem, whose solution is characterized by two dimensional inaction sets. For J=1 these contracts are equivalent to the case of firing taxes, and for large J they are equivalent to the laissez-faire case. In a calibrated verion of the model, we find that temporary contracts with J equivalent to three years length close about half of the gap between those two extremes. Veracierto, Marcelo Verfasser (DE-588)132870509 aut Erscheint auch als Online-Ausgabe National Bureau of Economic Research <Cambridge, Mass.> NBER working paper series 12791 (DE-604)BV002801238 12791 http://papers.nber.org/papers/w12791.pdf kostenfrei Volltext |
| spellingShingle | Alvarez, Fernando 1964- Veracierto, Marcelo Fixed-term employment contracts in an equilibrium search model |
| title | Fixed-term employment contracts in an equilibrium search model |
| title_auth | Fixed-term employment contracts in an equilibrium search model |
| title_exact_search | Fixed-term employment contracts in an equilibrium search model |
| title_exact_search_txtP | Fixed-term employment contracts in an equilibrium search model |
| title_full | Fixed-term employment contracts in an equilibrium search model Fernando Alvarez ; Marcelo Veracierto |
| title_fullStr | Fixed-term employment contracts in an equilibrium search model Fernando Alvarez ; Marcelo Veracierto |
| title_full_unstemmed | Fixed-term employment contracts in an equilibrium search model Fernando Alvarez ; Marcelo Veracierto |
| title_short | Fixed-term employment contracts in an equilibrium search model |
| title_sort | fixed term employment contracts in an equilibrium search model |
| url | http://papers.nber.org/papers/w12791.pdf |
| volume_link | (DE-604)BV002801238 |
| work_keys_str_mv | AT alvarezfernando fixedtermemploymentcontractsinanequilibriumsearchmodel AT veraciertomarcelo fixedtermemploymentcontractsinanequilibriumsearchmodel |