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Alfred Marshall Lecture: Growth, Unemployment, and Labor Market Policy

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  • Dale T. Mortensen

    (Northwestern University,)

Abstract

The role of passive labor market policy as a possible reason for the run up in relative unemployment rates in Europe in the 1980s has been extensively studied. More recently the focus have shifted to lagging growth rates in Europe. The Lisbon strategy reflects these concerns by calling for reforms that ease market access, promote flexible labor markets, and simplify taxes and market regulation. The principal purpose of this paper is to build a simple model in which the possible effects of payroll taxes and employment protection policies on both unemployment and growth can be studied. The model is constructed of "off the shelf" parts found in the literatures on equilibrium unemployment and endogenous growth of the Schumpeterian variety. The model identifies channels though which both taxes and employment protection mandates can adversely affect growth though innovation. (JEL: E24, O40, J64, O31) Copyright (c) 2005 The European Economic Association.

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Bibliographic Info

Article provided by MIT Press in its journal Journal of the European Economic Association.

Volume (Year): 3 (2005)
Issue (Month): 2-3 (04/05)
Pages: 236-258

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Handle: RePEc:tpr:jeurec:v:3:y:2005:i:2-3:p:236-258

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Cited by:
  1. Gaetano Lisi & Maurizio Pugno, 2010. "The Underground Economy in a Matching Model of Endogenous Growth," Working Papers 2010-07, Universita' di Cassino, Dipartimento di Scienze Economiche.
  2. Parello, Carmelo Pierpaolo, 2011. "Labor market rigidity and productivity growth in a model of innovation-driven growth," Economic Modelling, Elsevier, vol. 28(3), pages 1058-1067, May.
  3. Gaetano Lisi & Maurizio Pugno, 2011. "Tax Morale, Entrepreneurship, and the Irregular Economy," Czech Economic Review, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, vol. 5(2), pages 116-131, August.
  4. Lisi, G., 2011. "Entrepreneurship, On-the-job Search and Informal Jobs," Journal of the New Economic Association, New Economic Association, issue 9, pages 33-46.
  5. Carlsson, Mikael & Westermark, Andreas, 2011. "The New Keynesian Phillips Curve and staggered price and wage determination in a model with firm-specific labor," Journal of Economic Dynamics and Control, Elsevier, vol. 35(4), pages 579-603, April.
  6. Fabien Tripier, 2009. "Croissance et chômage à long terme," Économie et Prévision, Programme National Persée, vol. 189(3), pages 57-74.
  7. Gaetano Lisi, 2012. "Macroeconomic implications of the dynamics between power and trust: a theoretical formalisation of the ‘slippery slope’ framework," EERI Research Paper Series EERI_RP_2012_21, Economics and Econometrics Research Institute (EERI), Brussels.

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