The Employment Effects of Severance Payments with Wage Rigidities
Bibliographic Data
| ID | 9716079 |
|---|---|
| Authors | Pietro Garibaldi (0000-0002-4211-7915, Bocconi University and CEPR), Giovanni L Violante (New York University and CEPR) |
| Year | 2005 |
| Volume | 115 |
| Issue | 506 |
| Pages | 799-832 |
| Publication date | 2005-10-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | The Economic Journal (JOURNAL) |
| Journal identifiers | ISSN: 0013-0133 • E-ISSN: 1468-0297 |
| Publisher | Oxford University Press (OUP) (PUBLISHER) |
| DOI | 10.1111/j.1468-0297.2005.01020.x |
| OpenAlex | W2046402534 |
| Language | EN |
| Citations received | 21 |
| References cited | 27 |
Firing costs have two separate dimensions: a transfer from the firm to the laid-off worker and a tax paid outside the firm-worker pair. To avoid the 'bonding critique' most of the existing literature implicitly assumes that, in the presence of wage rigidity, transfers have the same real effects as taxes. This paper shows that this presumption is in general misplaced, especially so when the degree of wage rigidity is endogenous. The predictions of our theory find empirical support in a panel data-set of OECD countries. Copyright 2005 Royal Economic Society
Economic history · Economics · Labour economics · Payment · Political science · Severance · Wage · Economic Policies and Impacts · Finance · Firm Innovation and Growth · Labor market dynamics and wage inequality
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The Roaring Nineties
| Unique citing works | 21 |
|---|---|
| Citations per year | 1,11 |
| Citation span | 2007 - 2025 (19) |
| Citation velocity | recent |
| Highly cited | No |
| Citation types | Neutral: 19 |