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8 years ago

Product market competition drives significant impact on employment dynamics.

Oxford Economic Papers
Product market imperfections and employment dynamics
Mikael Carlsson, Stefan Eriksson, Nils Gottfries

Paper Summary

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Product market imperfections significantly impact employment dynamics. A model was created to study how competition, hiring costs, and demand shocks affect job creation. The study found that product market demand shocks have a big influence on employment levels. Unemployment rates in the local labor market do not directly affect job creation in existing companies. Additionally, hiring can be slowed down when there are many job vacancies in the local labor market.