Employment Protection, Product Market Regulation and Firm Selection
构建了一个包含搜索摩擦和异质性多工人企业的随机均衡模型，分析产品市场和劳动力市场的联合监管如何影响企业进入退出和雇佣解雇，从而解释OECD国家企业和工作流动率为何相似。
Why are firm and job turnover rates so similar across OECD countries? We argue that this may be due to the joint regulation of product and labour markets. For our analysis, we build a stochastic equilibrium model with search frictions and heterogeneous multiple-worker firms. This allows us to distinguish firm entry and exit from hiring and firing in a model with equilibrium unemployment. We show that firing costs, sunk entry costs and bureaucratic flow costs have countervailing effects on firm and job turnover as different types of firms select to operate in the market. Copyright 2007 The Author(s). Journal compilation Royal Economic Society 2007.