Hiring as Investment Behavior

Eran Yashiv ()

Working Papers from Tel Aviv

Abstract: This paper explores the determinants and stochastic properties of hiring at the aggregate, macroeconomic level. At the core of the analysis is a present value relation which defines the worker's "asset value" for the firm and determines optimal hiring. The paper validates this relation using volatility tests and infers the unobserved asset values by estimating it.

Keywords: HIRING; LABOUR MARKET (search for similar items in EconPapers)
JEL-codes: J21 J23 L10 (search for similar items in EconPapers)
Pages: 34 pages
Date: 1999
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Citations: View citations in EconPapers (1)

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Journal Article: Hiring as Investment Behavior (2000)
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Persistent link: https://EconPapers.repec.org/RePEc:fth:teavfo:35-99

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