Firing costs and business cycle fluctuations
By: Marcelo Veracierto.
Series: Working paper series ;; WP-2003-29; Working paper series (Federal Reserve Bank of Chicago. Research Dept. : Online) ;; WP-2003-29.
Publisher: Federal Reserve Bank of Chicago
Published: 2003
Place of publication: [Chicago, Ill.]
Language: eng
Format: Electronic resource
Description: "This paper evaluates to what extent the introduction of firing costs can affect the aggregate dynamics of a neoclassical growth model with hetrogeneous establishments.  Similarly to the previous literature, firing costs are found to have large steady- state effcts.  However, they have no important effects on business cycle dynamics: Aggregate employment fluctuations are somewhat smaller when the firing costs are introduced, but most of the effects turn out to be insignificant"--Federal Reserve Bank of Chicago web site.
Notes: Also available in print.
Includes bibliographical references.
Title from PDF file as viewed on 9/30/2004.
System requirements: Adobe Acrobat Reader.
Mode of access: World Wide Web.