Normal view MARC view

Monopolistic competition, costs of adjustment and the behaviour of European manufacturing employment

Author: Burda, Michael C. INSEAD Area: Economics and Political Science Series: Working Paper ; 90/02/EPS Publisher: Fontainebleau : INSEAD, 1990.Language: EnglishDescription: 35 p.Type of document: INSEAD Working Paper Online Access: Click here Abstract: A dynamic model of employment under monopolistic competition is derived and estimated with manufacturing data from European countries and the US. While thereis only weak evidence of higher quadratic adjustment costs in Europe at annual sampling frequencies, imputed labour costs charges and linear hiring andfiring costs are significantly estimated with magnitudes consistent with EC survey evidence. evidence of monopolistically competitive be/A dynamic model of employment under monopolistic competition is derived and estimated with manufacturing data from European countries and the US. While there is only weak evidence of higher quadratic adjustment costs in Europe at annual sampling frequencies, imputed labour costs charges and linear hiring and firing costs are significantly estimated with magnitudes consistent with EC survey evidence. Evidence of monopolistically competitive behaviour is found only in the larger European countries. The pattern of rejection of the model's overidentifying restrictions and the covariance of estimated residuals are consistent with the absence of operative quantity constraints on firms in the smaller economies
Tags: No tags from this library for this title. Add tag(s)
Log in to add tags.
Item type Current location Collection Call number Status Date due
INSEAD Working Paper Digital Library
PDF Available

A dynamic model of employment under monopolistic competition is derived and estimated with manufacturing data from European countries and the US. While thereis only weak evidence of higher quadratic adjustment costs in Europe at annual sampling frequencies, imputed labour costs charges and linear hiring andfiring costs are significantly estimated with magnitudes consistent with EC survey evidence. evidence of monopolistically competitive be/A dynamic model of employment under monopolistic competition is derived and estimated with manufacturing data from European countries and the US. While there is only weak evidence of higher quadratic adjustment costs in Europe at annual sampling frequencies, imputed labour costs charges and linear hiring and firing costs are significantly estimated with magnitudes consistent with EC survey evidence. Evidence of monopolistically competitive behaviour is found only in the larger European countries. The pattern of rejection of the model's overidentifying restrictions and the covariance of estimated residuals are consistent with the absence of operative quantity constraints on firms in the smaller economies

Digitized

There are no comments for this item.

Log in to your account to post a comment.
Koha 3.18 - INSEAD Library Catalogue
Library Home | Contact Us | What's Koha?