http://www.bis.org/cbhub/list/author/author_301/index.rss Research hub papers by author Martina Lawless en http://www.centralbank.ie/publications/Documents/02RT13.pdf Central Bank of Ireland Research Technical Papers by Martina Lawless Age or Size? Determinants of Job Creation 2013-04-25T12:35:00Z Small firms have often been identified as drivers of job creation, although the evidence on their contribution to net employment growth has been disputed. This paper shows that job turnover and firm growth vary systematically across firm size groups and that smaller firms do indeed make an important contribution to new job creation. There is a significant caveat, however; we find that it is not firm size per se that is driving these results but rather firm age. The considerable overlap between the two properties, as young firms overwhelmingly tend to be small, has perhaps led to much of the effect of firm age being misattributed to size. We show that younger firms are consistently more dynamic than older firms and this holds across all size classes, not just amongst smaller firms. In addition, a relationship between lagged employment and firm growth is found to exist only for young firms. Age or Size? Determinants of Job Creation 2013-04-25T12:35:00Z Full text http://www.centralbank.ie/publications/Documents/02RT13.pdf Martina Lawless Martina Lawless 2013-04-25 Central Bank of Ireland Research Technical Papers http://www.centralbank.ie/publications/Documents/03RT12.pdf Central Bank of Ireland Research Technical Papers by Martina Lawless and Fergal McCann Determinants of default: Evidence from a sector-level panel of Irish SME loans 2012-07-05T12:37:00Z This paper uses unique SME loan-level data complete with quarterly loan ratings assigned by the lending institution over the period 2008-2010. This allows us to examine the evolution of loan performance throughout the period of economic and financial crisis. We document the shift in the distribution of loans across ratings as economic conditions deteriorated, but also show that this effect was heterogeneous across sectors. In panel data estimations, changes in employment across sectors are shown to be a leading indicator of loan performance, demonstrating the importance of the link between real economy demand and loan impairment. Levels of outstanding credit in a sector cannot explain current loan performance. However, in keeping with a growing literature on the dangers of post-room debt overhang, we calculate a measure of excess credit using deviations from a long-run trend that is strongly associated with higher levels of current impairment. This provides new evidence on the effect of relaxed credit standards during a boom on crisis-era loan delinquency. Determinants of default: Evidence from a sector-level panel of Irish SME loans 2012-07-05T12:37:00Z Full text http://www.centralbank.ie/publications/Documents/03RT12.pdf Fergal McCann Martina Lawless Martina Lawless and Fergal McCann 2012-07-04 Central Bank of Ireland Research Technical Papers http://www.centralbank.ie/publications/Documents/04RT12.pdf Central Bank of Ireland Research Technical Papers by Sarah Holton, Martina Lawless and Fergal McCann Firm Credit in Europe: A Tale of Three Crises 2012-07-05T12:37:00Z This paper analyses the effects of the recent euro area economic, financial and debt crisis on SMEs' access to bank finance. Firm Credit in Europe: A Tale of Three Crises 2012-07-05T12:37:00Z Full text http://www.centralbank.ie/publications/Documents/04RT12.pdf Fergal McCann Martina Lawless Sarah Holton Sarah Holton, Martina Lawless and Fergal McCann 2012-07-05 Central Bank of Ireland Research Technical Papers http://www.centralbank.ie/publications/Documents/11RT11.pdf Central Bank of Ireland Research Technical Papers by Martina Lawless and Fergal McCann Credit Access for Small and Medium Firms 2011-11-10T12:39:00Z Credit Access for Small and Medium Firms 2011-11-10T12:39:00Z Full text http://www.centralbank.ie/publications/Documents/11RT11.pdf Fergal McCann Martina Lawless Martina Lawless and Fergal McCann 2011-11-10 Central Bank of Ireland Research Technical Papers http://www.financialregulator.ie/publications/Documents/02RT11.pdf Central Bank and Financial Services Authority of Ireland Research Technical Papers by Martina Lawless Marginal Distance: Does Export Experience Reduce Firm Trade Costs? 2011-04-18T17:36:59Z Marginal Distance: Does Export Experience Reduce Firm Trade Costs? 2011-04-18T17:36:59Z Full text http://www.financialregulator.ie/publications/Documents/02RT11.pdf Martina Lawless Martina Lawless 2011-03-11 Central Bank of Ireland Research Technical Papers http://www.cnb.cz/miranda2/export/sites/www.cnb.cz/en/research/research_publications/cnb_wp/download/cnbwp_2010_07.pdf Czech National Bank Working papers by Jan Babecký, Philip Du Caju, Theodora Kosma, Martina Lawless, Julián Messina and Tairi Rõõm The Margins of Labour Cost Adjustment: Survey Evidence from European Firms 2011-02-23T12:35:59Z JEL codes: J30, C81, P5. The Margins of Labour Cost Adjustment: Survey Evidence from European Firms 2011-02-23T12:35:59Z Abstract http://www.cnb.cz/en/research/research_publications/cnb_wp/2010/cnbwp_2010_07.html Full text http://www.cnb.cz/miranda2/export/sites/www.cnb.cz/en/research/research_publications/cnb_wp/download/cnbwp_2010_07.pdf Philip Du Caju Julián Messina Jan Babecký Theodora Kosma Martina Lawless Tairi Rõõm Jan Babecký, Philip Du Caju, Theodora Kosma, Martina Lawless, Julián Messina and Tairi Rõõm 2010-02 Czech National Bank Working papers http://www.ecb.europa.eu/pub/pdf/scpwps/ecbwp1181.pdf European Central Bank Working papers by Mary Keeney, Martina Lawless, Wage setting and wage flexibility in Ireland - Results from a firm-level survey, 2010-04-21T17:40:59Z (JEL: J3, E24, J4) This paper investigates the wage-setting behaviour of Irish firms. We place particular emphasis on the use of flexible pay components and examine how these allow firms to deal with shocks requiring a reduction in costs without having to cut base wages. The results presented in this paper are based on a survey of Irish firms undertaken as part of the Wage Dynamics Network (WDN), which is a Euro-system research network. Our main findings are that almost two-thirds of firms applied at least some elements of the national wage agreement in place at the time of the survey (Towards 2016). Wage cuts or freezes were reported by a very small percentage of firms but changes in bonuses and other flexible pay components were relatively common if the firm needed to reduce labour costs. When asked about the relevance of different explanations for avoiding cuts in base wages, worker morale and loss of experienced workers were the main concerns. Regulatory or collective bargaining obstacles to wage cuts were the lowest ranked. Wage setting and wage flexibility in Ireland - Results from a firm-level survey, 2010-04-21T17:40:59Z ECB Full text http://www.ecb.europa.eu/pub/pdf/scpwps/ecbwp1181.pdf Mary Keeney Martina Lawless Mary Keeney, Martina Lawless, 2010-04-21 European Central Bank Working papers E24 J3 J4 http://www.cnb.cz/miranda2/export/sites/www.cnb.cz/en/research/research_publications/cnb_wp/download/cnbwp_2009_04.pdf Czech National Bank Working papers by Jan Babecký, Philip Du Caju, Theodora Kosma, Martina Lawless, Julián Messina and Tairi Rõõm Downward Nominal and Real Wage Rigidity: Survey Evidence from European Firms 2010-04-07T17:40:00Z JEL Codes: J30, J31, J32, C81, P5 Downward Nominal and Real Wage Rigidity: Survey Evidence from European Firms 2010-04-07T17:40:00Z Abstract http://www.cnb.cz/en/research/research_publications/cnb_wp/2009/cnbwp_2009_04.html Full text http://www.cnb.cz/miranda2/export/sites/www.cnb.cz/en/research/research_publications/cnb_wp/download/cnbwp_2009_04.pdf Philip Du Caju Theodora Kosma Tairi Rõõm Julián Messina Jan Babecký Martina Lawless Jan Babecký, Philip Du Caju, Theodora Kosma, Martina Lawless, Julián Messina and Tairi Rõõm 2009-04 Czech National Bank Working papers C81 J30 J31 J32 P5 http://www.nbb.be/pub/06_00_00_00_00/06_03_00_00_00/06_03_05_00_00/WP_182.htm National Bank of Belgium Working Papers by Jan Babecký, Philip Du Caju, Theodora Kosma, Martina Lawless, Julián Messina, Tairi Rõõm Downward nominal and real wage rigidity: Survey evidence from European firms 2009-11-20T07:10:59Z Downward nominal and real wage rigidity: Survey evidence from European firms 2009-11-20T07:10:59Z Abstract http://www.nbb.be/pub/06_00_00_00_00/06_03_00_00_00/06_03_05_00_00/WP_182.htm Philip Du Caju Theodora Kosma Tairi Rõõm Julián Messina Jan Babecký Martina Lawless Jan Babecký, Philip Du Caju, Theodora Kosma, Martina Lawless, Julián Messina, Tairi Rõõm 2009-11-19 National Bank of Belgium Working Papers http://www.nbb.be/pub/06_00_00_00_00/06_03_00_00_00/06_03_05_00_00/WP_183.htm National Bank of Belgium Working Papers by Jan Babecký, Philip Du Caju, Theodora Kosma, Martina Lawless, Julián Messina, Tairi Rõõm The margins of labour cost adjustment: Survey evidence from European firms 2009-11-20T07:10:59Z The margins of labour cost adjustment: Survey evidence from European firms 2009-11-20T07:10:59Z Abstract http://www.nbb.be/pub/06_00_00_00_00/06_03_00_00_00/06_03_05_00_00/WP_183.htm Philip Du Caju Theodora Kosma Tairi Rõõm Julián Messina Jan Babecký Martina Lawless Jan Babecký, Philip Du Caju, Theodora Kosma, Martina Lawless, Julián Messina, Tairi Rõõm 2009-11-19 National Bank of Belgium Working Papers http://www.ecb.europa.eu/pub/pdf/scpwps/ecbwp1105.pdf European Central Bank Working papers by Jan Babecký, Philip Du Caju, Theodora Kosma, Martina Lawless, Julián Messina, Tairi Rõõm Downward Nominal and Real Wage Rigidity: Survey Evidence from European Firms 2009-11-12T17:38:00Z (JEL: J30, J31, J32, C81, P5) It has been well established that the wages of individual workers react little, especially downwards, to shocks that hit their employer. This paper presents new evidence from a unique survey of firms across Europe on the prevalence of downward wage rigidity in both real and nominal terms. We analyse which firm-level and institutional factors are associated with wage rigidity. Our results indicate that it is related to workforce composition at the establishment level in a manner that is consistent with related theoretical models (e.g. efficiency wage theory, insider-outsider theory). We also find that wage rigidity depends on the labour market institutional environment. Collective bargaining coverage is positively related with downward real wage rigidity, measured on the basis of wage indexation. Downward nominal wage rigidity is positively associated with the extent of permanent contracts and this effect is stronger in countries with stricter employment protection regulations. Downward Nominal and Real Wage Rigidity: Survey Evidence from European Firms 2009-11-12T17:38:00Z ECB Full text http://www.ecb.europa.eu/pub/pdf/scpwps/ecbwp1105.pdf Philip Du Caju Theodora Kosma Tairi Rõõm Julián Messina Jan Babecký Martina Lawless Jan Babecký, Philip Du Caju, Theodora Kosma, Martina Lawless, Julián Messina, Tairi Rõõm 2009-11-12 European Central Bank Working papers http://www.ecb.europa.eu/pub/pdf/scpwps/ecbwp1106.pdf European Central Bank Working papers by Jan Babecký, Philip Du Caju, Theodora Theodora, Martina Lawless, Julián Messina, Tairi Rõõm The Margins of Labour Cost Adjustment: Survey Evidence from European Firms 2009-11-12T17:38:00Z (JEL: J30, C81, P5) Firms have multiple options at the time of adjusting their wage bills. However, previous literature has mainly focused on base wages. We broaden the analysis beyond downward rigidity in base wages by investigating the use of other margins of labour cost adjustment at the firm level. Using data from a unique survey, we find that firms make frequent use of other, more flexible, components of compensation to adjust the cost of labour. Changes in bonuses and non-pay benefits are some of the potential margins firms use to reduce costs. We also show how the margins of adjustment chosen are affected by firm and worker characteristics. The Margins of Labour Cost Adjustment: Survey Evidence from European Firms 2009-11-12T17:38:00Z ECB Full text http://www.ecb.europa.eu/pub/pdf/scpwps/ecbwp1106.pdf Theodora Theodora Philip Du Caju Tairi Rõõm Julián Messina Jan Babecký Martina Lawless Jan Babecký, Philip Du Caju, Theodora Theodora, Martina Lawless, Julián Messina, Tairi Rõõm 2009-11-12 European Central Bank Working papers http://www.ecb.int/pub/pdf/scpwps/ecbwp784.pdf European Central Bank Working papers by Martina Lawless and Karl Whelan Understanding the dynamics of labor shares and inflation 2007-07-27T17:58:00Z Understanding the dynamics of labor shares and inflation 2007-07-27T17:58:00Z ECB Full text http://www.ecb.int/pub/pdf/scpwps/ecbwp784.pdf Karl Whelan Martina Lawless Martina Lawless and Karl Whelan 2007-07 European Central Bank Working papers E31