Employment Adjustment in UK Manufacturing

Simon Burgess ()

Economic Journal, 1988, vol. 98, issue 389, 81-103

Abstract: This analysis differs from previous studies of labor demand in its explicit inclusion of the costs to the firm of adju sting its workforce. These costs include institutional factors such a s employment protection legislation and unions, and market factors su ch as the degree of slack in the labor market. Two questions are addr essed: what is the quantitative impact of these forces and does their inclusion improve the fit of a labor-demand function. The results sh owed these factors to have a strong influence on the rate of hiring/f iring and to improve significantly on conventional labor-demand funct ions. Copyright 1988 by Royal Economic Society.

Date: 1988
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