Labor Market Reforms
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| Author | : OECD |
| Publisher | : OECD Publishing |
| Total Pages | : 179 |
| Release | : 2017-02-21 |
| Genre | : |
| ISBN | : 9264269576 |
Download Labour Market Reforms in Portugal 2011-15 A Preliminary Assessment Book in PDF, Epub and Kindle
This report evaluates the comprehensive labour market reforms undertaken in Portugal in 2011-15. It reviews reforms in employment protection legislation, unemployment benefits, activation, collective bargaining, minimum wages and working time, and assesses the available evidence on their impact.
| Author | : Mr.David T. Coe |
| Publisher | : International Monetary Fund |
| Total Pages | : 40 |
| Release | : 1996-08-01 |
| Genre | : Business & Economics |
| ISBN | : 1451951256 |
Download Policy Complementarities Book in PDF, Epub and Kindle
This paper argues that an important group of labor market policies are complementary in the sense that the effect of each policy is greater when implemented in conjunction with the other policies than in isolation. This may explain why the diverse, piecemeal labor market reforms in many European countries in recent years have had so little success in reducing unemployment. What is required instead is deeper labor market reforms across a broader range of complementary policies and institutions. To be politically feasible, these reforms must be combined with measures to address distributional issues.
| Author | : Niklas Engbom |
| Publisher | : International Monetary Fund |
| Total Pages | : 26 |
| Release | : 2015-07-17 |
| Genre | : Business & Economics |
| ISBN | : 1513564595 |
Download The German Labor Market Reforms and Post-Unemployment Earnings Book in PDF, Epub and Kindle
In 2003–05, Germany undertook extensive labor market reforms which were followed by a large and persistent decline in unemployment. Key elements of the reforms were a drastic cut in benefits for the long-term unemployed and tighter job search and acceptance obligations. Using a large confidential data set from the German social security administration, we find that the reforms were associated with a fall in the earnings of workers returning to work from short-term unemployment relative to workers in long-term employment of about 10 percent. We interpret this as evidence that the reforms strengthened incentives to return to work but, in doing so, they adversely affected post re-entry earnings.
| Author | : Mr.Romain A Duval |
| Publisher | : International Monetary Fund |
| Total Pages | : 31 |
| Release | : 2021-02-26 |
| Genre | : Business & Economics |
| ISBN | : 1513570749 |
Download Labor and Product Market Reforms and External Imbalances: Evidence from Advanced Economies Book in PDF, Epub and Kindle
We explore the impact of major labor and product market reforms on current account dynamics using a new “narrative” database of major changes in employment protection for regular workers and product market regulation for non-manufacturing industries covering 26 advanced economies over the past four decades. Our main finding is that product market deregulation is associated with a weakening of the current account, while labor market deregulation is associated with an improvement. These effects are transitory and driven by both saving and investment responses. Labor and product market reforms both have a more positive impact on the current account balance when implemented under weak macroeconomic conditions. Our results are broadly consistent with predictions from recent DSGE models with endogenous producer entry and labor market frictions.
| Author | : Ara Stepanyan |
| Publisher | : International Monetary Fund |
| Total Pages | : 30 |
| Release | : 2020-02-13 |
| Genre | : Business & Economics |
| ISBN | : 1513526871 |
Download Distributional Implications of Labor Market Reforms: Learning from Spain's Experience Book in PDF, Epub and Kindle
Spain’s structural reforms, implemented around 2012, have arguably contributed to a faster and stronger economic recovery. In particular, there is strong evidence that the 2012 labor market reforms increased wage flexibility, which helped the Spanish economy to regain competitiveness and create jobs. But the impact of these labor reforms on income inequality and social inclusion has not been analyzed much. This paper aims to shed light on this issue by employing an econometric decomposition procedure combined with the synthetic control method. The results indicate that the 2012 labor reforms have helped improve employment and income equality outcomes with no substantial impact on the overall risk of poverty. Nevertheless, the reforms appear to have induced a deterioration of average hours worked, in-work poverty, and possibly also of involuntary part-time employment.
| Author | : Mr.Christian H Ebeke |
| Publisher | : International Monetary Fund |
| Total Pages | : 33 |
| Release | : 2017-06-30 |
| Genre | : Business & Economics |
| ISBN | : 1484306279 |
Download Who Dares, Wins Book in PDF, Epub and Kindle
The paper shows that investors value the adoption of structural reforms by lending at lower cost. The reform-induced reduction of long-term yields is bigger when reforms are initiated in good times and in countries facing high borrowing costs. Importantly, there is no statistical evidence that markets systematically punish countries that launch reforms concomitantly with fiscal stimulus. The paper also finds that the social context matters: structural reforms lead to a short-lived overshooting of yields when followed by strikes or lockouts. Controlling for endogeneity issues does not reject the central finding of the paper. These results are economically plausible and confirmed even after using sovereign credit ratings as an alternative dependent variable. These results have two main implications: (i) on average, labor market reforms lower borrowing costs; and (ii) country-specific circumstances also play a role.
| Author | : S. Betzelt |
| Publisher | : Springer |
| Total Pages | : 307 |
| Release | : 2011-06-14 |
| Genre | : Political Science |
| ISBN | : 0230307639 |
Download Activation and Labour Market Reforms in Europe Book in PDF, Epub and Kindle
This book analyzes in what way activation policies impact on given patterns of social citizenship that predominate in national contexts. It argues that the liberal paradigm of activation introduced into labour market policies in all Western European states challenges the specific patterns of social citizenship in each country.
| Author | : Angana Banerji |
| Publisher | : International Monetary Fund |
| Total Pages | : 120 |
| Release | : 2017-03-13 |
| Genre | : Business & Economics |
| ISBN | : 1475583974 |
Download Labor and Product Market Reforms in Advanced Economies Book in PDF, Epub and Kindle
Product and labor market reforms are needed to lift persistently sluggish growth in advanced economies. But reforms have progressed slowly because of concerns about their distributive and short-term economic effects. Our analysis, based on new empirical and numerical analysis and country case-studies shows that most labor and product market reforms can improve public debt dynamics over the medium-term. This because reforms raise output by boosting employment and/or labor productivity. But the effect of some labor market reforms on budgetary outcomes and fiscal sustainability depends critically on business cycle conditions. Our evidence also suggests that some temporary and well-designed up-front fiscal stimulus can help enhance the economic impact of reforms. In the past, countries have used fiscal incentives in the past to facilitate reforms by alleviating transition and social costs. But strong ownership of reforms was crucial for their successful implementation.
| Author | : Matteo Cacciatore |
| Publisher | : International Monetary Fund |
| Total Pages | : 65 |
| Release | : 2017-10-03 |
| Genre | : Business & Economics |
| ISBN | : 1484324269 |
Download Market Reforms at the Zero Lower Bound Book in PDF, Epub and Kindle
This paper studies the impact of product and labor market reforms when the economy faces major slack and a binding constraint on monetary policy easing. such as the zero lower bound. To this end, we build a two-country model with endogenous producer entry, labor market frictions, and nominal rigidities. We find that while the effect of market reforms depends on the cyclical conditions under which they are implemented, the zero lower bound itself does not appear to matter. In fact, when carried out in a recession, the impact of reforms is typically stronger when the zero lower bound is binding. The reason is that reforms are inflationary in our structural model (or they have no noticeable deflationary effects). Thus, contrary to the implications of reduced-form modeling of product and labor market reforms as exogenous reductions in price and wage markups, our analysis shows that there is no simple across-the-board relationship between market reforms and the behavior of real marginal costs. This significantly alters the consequences of the zero (or any effective) lower bound on policy rates.
| Author | : Mr.Anthony Annett |
| Publisher | : International Monetary Fund |
| Total Pages | : 25 |
| Release | : 2007-05-01 |
| Genre | : Business & Economics |
| ISBN | : 145197535X |
Download Lessons from Successful Labor Market Reformers in Europe Book in PDF, Epub and Kindle
Welfare states can be reformed successfully, and popular support for reforms can be maintained. But this requires an internally consistent package of labor market, fiscal, and product market reforms, including some kind of buy-in, through, for example, tax cuts. Empirical analysis combined with a select number of case studies-comprising Ireland, Denmark, the Netherlands, and the United Kingdom-reveals that successful reformers focused on increasing labor supply through benefit reform, lowering tax wedges, and lowering government consumption. At the same time, greater labor supply translated into employment growth more effectively in the presence of liberal labor and product markets.
