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Author Takizawa, H. (Hajime), author

Title Job-specific investment and the cost of dismissal restrictions : the case of Portugal / Hajime Takizawa
Published [Washington, D.C.] : International Monetary Fund, [2003]
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Description 1 online resource (28 pages) : illustrations
Series IMF working paper ; WP/03/75
IMF working paper ; WP/03/75
Summary Using a search and matching labor market equilibrium model, this paper quantifies lost labor productivity and consumption per worker that emerges from the restrictions on dismissals. Dismissal restrictions hamper the efficient reallocation of workers, with workers remaining longer in jobs. But the restrictions also tend to induce job-specific investments. A calibration exercise applied to Portugal suggests that the restrictions on dismissal slow the pace of worker reallocation and cause substantial losses of labor productivity and consumption. Although lower worker mobility induces job-specific investment that offsets part of the labor productivity and consumption losses, the size of this offsetting effect is, at most, modest
Bibliography Includes bibliographical references (page 28)
Notes Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. MiAaHDL
digitized 2010 HathiTrust Digital Library committed to preserve pda MiAaHDL
Print version record
Subject Employees -- Dismissal of -- Economic aspects -- Portugal.
Industrial productivity -- Portugal -- Econometric models.
Labor market -- Portugal -- Econometric models.
Labor mobility -- Portugal -- Econometric models.
Form Electronic book
Author International Monetary Fund. European I Department.
ISBN 1281386014