Sven JungBetriebliche Beschäftigungsanpassung im Konjunkturzyklus

About this book deutschenglish

Over the business cycle, firms have to adjust their labor volume. This book deals with different aspects which are relevant in this context. Employment adjustment causes adjustment costs, which firms have to take into account. Their adjustment behavior depends on the functional form of these adjustment costs. One can distinguish three basic specifications: fixed, linear and convex. A combination of these specifications is also possible and in the existing literature there is a predominance of such a combined structure for adjustment costs. However, this has not been shown to extend to Germany yet. This book fills this gap. The empirical analysis is based on a German establishment data for the years 1996 to 2010 and gives me some important hints in favor of a fixed and convex specification. Furthermore, adjustment costs are asymmetric in Germany with dismissal costs exceeding the costs of hiring. Another empirical analysis in this book shows that the adjustment speed increased over time. Plants adjust their employment covered by social security more quickly in the business cycle from 2004 to 2010 compared to the previous business cycle from 1996 to 2003. Additionally, this book contains an investigation whether firms’ adjustment behavior depends on firm size, industry or institutional circumstances. Moreover, it is analyzed how the employment structure varies over the business cycle. The focus is on qualification structure, age structure and share of female employees. All the empirical results in this book are based on dynamic panel regressions, switching regressions and fractional panel probit models.

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