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Layoff Costs and Efficiency with Asymmetric Information

Abstract : Wage determination under asymmetric information generates ine¢ ciencies due to excess turnover. Severance pay and layo¤ taxes can improve e¢ ciency. We show that inefficient separations can even be fully removed with …xed separation taxes in the case where therelevant private information is exponentially distributed.
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Submitted on : Thursday, April 3, 2014 - 8:09:03 PM
Last modification on : Tuesday, March 22, 2022 - 3:34:49 AM
Long-term archiving on: : Thursday, July 3, 2014 - 7:51:30 PM

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Alain Delacroix, Etienne Wasmer. Layoff Costs and Efficiency with Asymmetric Information. 2009. ⟨hal-00972915⟩

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