Cyclical Labor Market Policy Adjustments Under Wage Bargaining

This paper analyzes the optimal cyclical behavior of labor market policies in an economy with asset and labor market frictions. The policies of interest include unemployment insurance (UI) and employment protection (EP). In addition to their supply-side effects, labor market policies affect the aggregate demand via earning risk and redistribution channels. Under bilateral wage bargaining, I find that procyclical UI and countercyclical EP deliver superior welfare outcomes through stabilization via both supply and demand channels

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Year of publication:	[2021]
Authors:	Jung, Euiyoung
Publisher:	[S.l.] : SSRN
Subject:	Arbeitsmarktpolitik \| Labour market policy \| Tarifverhandlungen \| Collective bargaining \| Konjunktur \| Business cycle \| Verhandlungstheorie des Lohnes \| Collective bargaining theory

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Extent:	1 Online-Ressource (73 p)
Series:	JEDC-D-21-00344
Type of publication:	Book / Working Paper
Language:	English
Other identifiers:	10.2139/ssrn.3899305 [DOI]
Classification:	E12 - Keynes; Keynesian; Post-Keynesian ; E21 - Consumption; Saving ; E24 - Employment; Unemployment; Wages ; E29 - Consumption, Saving, Production, Employment, and Investment. Other ; E32 - Business Fluctuations; Cycles ; E61 - Policy Objectives; Policy Designs and Consistency; Policy Coordination ; E69 - Macroeconomic Policy Formation, Macroeconomic Aspects of Public Finance, Macroeconomic Policy, and General Outlook. Other ; J68 - Public Policy ; J65 - Unemployment Insurance; Severance Pay; Plant Closings
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10013216404