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by a period of sharp deflation where nominal wages and prices fell by 30 percent and unemployment increased from 5 to 30 …-specific firm performance, suggesting a significant role for 'insider forces' in wage determination. Unemployment had a strong …
Persistent link: https://www.econbiz.de/10013107065
This paper deals with the effects of labour market institutions on unemployment in a panel of 19 OECD countries for the … of the unemployment rate. Our novel contribution is the estimation of panel models where we allow for heterogeneous … effects of institutions on unemployment. Our main results are that on the average a tighter employment protection, a higher …
Persistent link: https://www.econbiz.de/10013120904
interact and affect the evolution of unemployment rates and participation rates, the two main indicators of labour market … performance. Our analysis has two special features. First, apart from the two labour market states – employment and unemployment … that a shock to the net flow from unemployment to employment drive the unemployment rate and the participation rate in …
Persistent link: https://www.econbiz.de/10013051614
density function with higher density and thereby generate large, asymmetric job-finding rate and unemployment reactions. Our …
Persistent link: https://www.econbiz.de/10012994696
In this paper we examine the importance of imperfect competition in product and labour markets in determining the long-run welfare effects of tax reforms assuming agent heterogeneity in capital holdings. Each of these market failures, independently, results in welfare losses for at least a...
Persistent link: https://www.econbiz.de/10013315966
dissimilar in terms of unemployment of welfare. Decentralization of wage setting can successfully prevent capital outflow and the …
Persistent link: https://www.econbiz.de/10013100837
We evaluate the effects of international outsourcing and labor taxation on wage formation and equilibrium unemployment … reduce equilibrium unemployment of low-skilled workers both in the presence and absence of labor taxation. In the presence of … outsourcing, wage tax, tax exemption and payroll tax have an ambiguous effect on equilibrium unemployment. Increasing the degree …
Persistent link: https://www.econbiz.de/10013316510
What are the impacts of labor tax reform on wage setting and employment to keep the relative tax burden per low-skilled and high-skilled workers constant in the case of heterogenous domestic labor markets, i.e. imperfect competition in low-skilled labor and perfect competition in high-skilled...
Persistent link: https://www.econbiz.de/10013154267
A number of recent studies have documented extensive downward nominal wage rigidity (DNWR) for job stayers in many OECD countries. However, DNWR for individual workers may induce downward rigidity or "a floor" for the aggregate wage growth at positive or negative levels. Aggregate wage growth...
Persistent link: https://www.econbiz.de/10013316399
Pattern bargaining with the tradables (manufacturing) sector as wage leader is a common form of wage bargaining in Europe. We question the conventional wisdom that such bargaining produces wage restraint. In our model all forms of pattern bargaining give the same outcomes as uncoordinated...
Persistent link: https://www.econbiz.de/10013122388