• Financial constraints in search equilibrium: Mortensen Pissarides meet Holmstrom and Tirole 

      Boeri, Tito; Garibaldi, Pietro; Moen, Espen R. (Journal article; Peer reviewed, 2018)
      A key lesson from the Great Recession is that firms’ leverage and access to finance are important for hiring and firing decisions. It is now empirically established that bank lending is correlated with employment losses ...
    • Inside severance pay 

      Boeri, Tito; Garibaldi, Pietro; Moen, Espen R. (Journal article; Peer reviewed, 2017)
      All OECD countries have either legally mandated severance pay or compensations imposed by industry-level bargaining in case of employer initiated job separations. The paper shows that mandatory severance is optimal in ...