Cover of Effective labor regulation and microeconomics flexibility

Effective labor regulation and microeconomics flexibility

by Ricardo J. Caballero

2004 32 pages eng

Microeconomic flexibility, by facilitating the process of creative-destruction, is at the core of economic growth in modern market economies. The main reason for why this process is not infinitely fast, is the presence of adjustment costs, some of them technological, others institutional. Chief amon…

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