FINANCING CONSTRAINTS AND FIXED-TERM EMPLOYMENT CONTRACTS

被引:75
作者
Caggese, Andrea [1 ]
Cunat, Vicente [1 ]
机构
[1] Univ Pompeu Fabra, Barcelona, Spain
关键词
D O I
10.1111/j.1468-0297.2008.02200.x
中图分类号
F [经济];
学科分类号
02 ;
摘要
This article studies the interactions between financing constraints and the employment decisions of firms when both fixed-term and permanent employment contracts are available. It develops the model of an industry where firms face financing frictions and produce output using both fixed-term and permanent workers. Once calibrated, the model shows that financially constrained firms use fixed-term workers more intensely and make them absorb a larger fraction of the total employment volatility than financially unconstrained firms do. We test and confirm the predictions of the model on a panel data of Italian manufacturing firms with detailed information about financing constraints and the type of workers employed by the firms.
引用
收藏
页码:2013 / 2046
页数:34
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