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Market Rigidities and Labour Market Flexibility: An International Comparison

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  • Kjell G. Salvanes

Abstract

The effects of product and labour market rigidities on labour market dynamics are analysed using a panel of two‐digit ISIC level data for seven OECD countries. As expected, employment protection was found to slacken labour market flows. Centralized wage bargaining also reduced the degree of job turnover, although a priori the effect of centralized wage bargaining on labour market flexibility is not clear. Industry subsidies have a positive impact on job reallocation by increasing job creation. The labour market dynamics are also compared in detail for two economies regarded as extremes in terms of regulations, the U.S. and Norway.

Suggested Citation

  • Kjell G. Salvanes, 1997. "Market Rigidities and Labour Market Flexibility: An International Comparison," Scandinavian Journal of Economics, Wiley Blackwell, vol. 99(2), pages 315-333, June.
    • Handle: RePEc:bla:scandj:v:99:y:1997:i:2:p:315-333
    DOI: 10.1111/1467-9442.00065
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    JEL classification:

    • J23 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Demand
    • J63 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Turnover; Vacancies; Layoffs

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