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Layoff Costs and Efficiency with Asymmetric Information

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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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hal-00972915 , version 1 (03-04-2014)

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