ENDOGENOUS MARKET STRUCTURE, OCCUPATIONAL CHOICE, AND GROWTH CYCLES
نویسندگان
چکیده
منابع مشابه
Endogenous Labor Market Cycles
In a perfectly stationary physical environment of the labor market, moral hazard and optimal termination in long-term contracts can generate two-period and much longer cycles in employment and output, and in other aggregate activities, including the creation and destruction of jobs, and the flows of workers entering and exiting employment. This theory sheds light on the unemployment volatility ...
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متن کاملComment on "Growth cycles and market crashes"
Boldrin and Levine [1] develop a model in which the unexpected obsolescence of productive assets, in a world where new technologies are costly to implement, leads to a drop in the market value of existing capital. Their quantitative analysis shows that in a realistic range of parameter values, it is possible to generate falls in the stock market on the order of 10–20%. These numbers are, howeve...
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ژورنال
عنوان ژورنال: Macroeconomic Dynamics
سال: 2014
ISSN: 1365-1005,1469-8056
DOI: 10.1017/s1365100514000157