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| Author: | Caggese, A. Cunat, V. |
| Title: | Financing constraints and fixed-term employment contracts |
| Journal: | Economic Journal
2008 : NOV, VOL. 118:533, p. 2013-2046 |
| Index terms: | labour markets employment contracts forecasting part-time workers models manufacturing companies Italy |
| Language: | eng |
| Abstract: | This study explores the interactions btw. financing constraints (hereafter as: fin-cnstrs.) and the firms' employment (as: empl.) decisions when both fixed-term and permanent empl. contracts are available. A model of an industry with firms facing financing frictions and producing output using both fixed-term and permanent workers is developed. It is shown that financially constrained firms use fixed-term workers more intensely, making them absorb a larger fraction of the total empl. volatility than financially unconstrained firms do. The model's predictions are tested and confimed based on panel data from Italian manufacturing firms with detailed information about fin-cnstrs. and the type of workers employed by the firms. |
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