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Employment Dynamics and the Structure of Labor Adjustment Costs

Pedro Portugal and Jose Varejao ()

Working Papers from Banco de Portugal, Economics and Research Department

Abstract: In this paper we discuss the structure of labor adjustment costs in relationship to the dynamics of job and worker flows. Using high frequency data, we document a previously unsuspected degree of lumpiness in employment adjustment, which is characteristic of non-convex adjustment costs. By means of the statistical analysis of duration data, we relate that lumpiness to the structure of adjustment costs and not to the structure of shocks.

JEL-codes: J23 J63 (search for similar items in EconPapers)
Date: 2003
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Related works:
Journal Article: Employment Dynamics and the Structure of Labor Adjustment Costs (2007) Downloads
Working Paper: Employment Dynamics and the Structure of Labor Adjustment Costs (2006) Downloads
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Persistent link: https://EconPapers.repec.org/RePEc:ptu:wpaper:w200312

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