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Firing costs and the business cycle: Policy implications in light of the financial crisis

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  • Brown, Alessio J. G.
  • Merkl, Christian
  • Lechthaler, Wolfgang

Abstract

This lecture is a tour d'horizon of the financial crisis aimed at extracting lessons for future financial regulation. It combines normative recommendations based on conventional welfare economics with positive assessments of the kind of measures likely to be adopted based on political economy considerations.

Suggested Citation

  • Brown, Alessio J. G. & Merkl, Christian & Lechthaler, Wolfgang, 2009. "Firing costs and the business cycle: Policy implications in light of the financial crisis," Open Access Publications from Kiel Institute for the World Economy 32947, Kiel Institute for the World Economy (IfW Kiel).
    • Handle: RePEc:zbw:ifwkie:32947
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    File URL: https://www.econstor.eu/bitstream/10419/32947/1/621187704.pdf
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    References listed on IDEAS

    as
    1. Brown, Alessio J.G. & Merkl, Christian & Snower, Dennis J., 2011. "Comparing the effectiveness of employment subsidies," Labour Economics, Elsevier, vol. 18(2), pages 168-179, April.
    2. Faia, Ester & Lechthaler, Wolfgang & Merkl, Christian, 2009. "Labor Turnover Costs, Workers' Heterogeneity, and Optimal Monetary Policy," IZA Discussion Papers 4322, Institute of Labor Economics (IZA).
    3. Brown, Alessio J. G. & Snower, Dennis J., 2009. "Incentives and complementarities of flexicurity," Kiel Working Papers 1526, Kiel Institute for the World Economy (IfW Kiel).
    4. Lechthaler, Wolfgang & Merkl, Christian & Snower, Dennis J., 2010. "Monetary persistence and the labor market: A new perspective," Journal of Economic Dynamics and Control, Elsevier, vol. 34(5), pages 968-983, May.
    5. Boss, Alfred & Brown, Alessio J. G. & Merkl, Christian & Snower, Dennis J., 2007. "Einstellungsgutscheine: Konkrete Ausgestaltung für Deutschland," Kiel Working Papers 1327, Kiel Institute for the World Economy (IfW Kiel).
    6. Dennis Snower & Alessio Brown & Christian Merkl, 2007. "Einstellungsgutscheine effektiver als Kombilöhne," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 60(04), pages 37-41, February.
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