TY  - RPRT
        AU  - Delacroix, Alain
AU  - Wasmer, Etienne
        TI  - Layoff Costs and Efficiency with Asymmetric Information
        PY  - 2009/Oct/
        PB  - Institute of Labor Economics (IZA)
        CY  - Bonn
        T2  - IZA Discussion Paper
        IS  - 4524
        UR  - https://www.iza.org/publications/dp4524
        AB  - Wage determination under asymmetric information generates inefficiencies due to excess turnover. Severance pay and layoff taxes can improve efficiency. We show that inefficient separations can even be fully removed with fixed separation taxes in the case where the relevant private information is exponentially distributed.
        KW  - bargaining
KW  - asymmetric information
KW  - employment protection legislation
KW  - inefficient job separations
        ER  -