Toward a Theory of Labor Market Institutions
نویسندگان
چکیده
منابع مشابه
Toward a theory of labor market institutions
Standard economic analysis holds that labor market rigidities are harmful for job creation and typically increase unemployment. But many orthodox reforms of the labor market have proved di±cult to implement because of political opposition. For these reasons it is important to explain why we observe such regulations. In this paper I outline a theory of how they may arise and why they ̄t together...
متن کاملDesigning Labor Market Institutions
\Western Europe su®ers from too many labor market rigidities, from excessively generous unemployment insurance to high employment protection, and to high minimum wages. It is essential that countries putting in place new institutions do not commit the same mistakes." The quote is made up. But it is, I believe, a fair representation of the opinions of many experts and many organizations, from Th...
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This paper studies the role of labor market institutions on unemployment and on the cyclical properties of job flows. We construct an intertemporal general equilibrium model with search unemployment and endogenous job turnover, and examine the consequences of introducing an unemployment benefit, a firing cost and a downward wage rigidity. The model is able to reproduce the main cyclical propert...
متن کاملWhat Do Labor Market Institutions Do?
What Do Labor Market Institutions Do? The past couple of decades have seen a huge increase in research on various labor market institutions. This paper offers a brief overview and discussion of research on the labor market impacts of minimum wages (MW), unemployment insurance (UI), and employment protection legislation (EPL). It is argued that research on UI is largely a success story, involvin...
متن کاملLabor Market Institutions, Wages, and Investment
Labor Market Institutions, Wages, and Investment Labor market institutions, via their effect on the wage structure, affect the investment decisions of firms in labor markets with frictions. This observation helps explain rising wage inequality in the US, but a relatively stable wage structure in Europe in the 1980s. These different trends are the result of different investment decisions by firm...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2000
ISSN: 1556-5068
DOI: 10.2139/ssrn.224564