Job Flow Dynamics and Firing Restrictions: Evidence from Europe
利用14个欧洲国家的制造业和非制造业企业数据，研究发现更严格的解雇法规会减弱就业破坏对经济周期的反应，并降低衰退行业相对于扩张行业的就业创造和破坏。
We exploit homogeneous firm level data of manufacturing and non-manufacturing industries to study the impact of firing restrictions on job flow dynamics across 14 European countries. Our results suggest that more stringent firing laws dampen the response of job destruction to the cycle, thus making job turnover less counter-cyclical. Moreover, stricter EPL reduces both the creation and destruction of jobs in declining sectors relative to expanding sectors, implying that faster trend growth attenuates the impact of firing costs on firm''s hiring and firing decisions.