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- W1485453956 abstract "Even experienced, profit-maximizing managers in Russia may conduct less restructuring than otherwise, since the economy appears to be in an equilibrium in which each firm releases unproductive workers but retains excess productive workers because other firms do. If firms release their excess productive workers, the cost of hiring unemployed productive workers may fall to the point where releasing excess productive workers is profitable. The model suggests that capital market development and bankruptcy enforcement are important for labor restructuring because they provide information facilitating the efficient operation of the labor market." @default.
- W1485453956 created "2016-06-24" @default.
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- W1485453956 date "1998-08-01" @default.
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- W1485453956 title "Infrequent Bankruptcy, Asymmetric Information, and Excess Labor in the Russian Economy" @default.
- W1485453956 hasPublicationYear "1998" @default.
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