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Labor Market Policies and IMF Advice in Advanced Economies during the Great Recession

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  • Olivier J. Blanchard
  • Florence Jaumotte
  • Prakash Loungani

Abstract

This paper does two things. First, it articulates what are the main implications of theoretical and empirical research for design of labor market policies and labor market institutions. Second, in this light, the paper analyzes the IMF’s labor market recommendations since the beginning of the crisis, both in general, and more specifically in program countries

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Bibliographic Info

Paper provided by International Monetary Fund in its series IMF Staff Discussion Notes with number 13/02.

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Length: 30
Date of creation: 29 Mar 2013
Date of revision:
Handle: RePEc:imf:imfsdn:13/02

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Postal: International Monetary Fund, Washington, DC USA
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Related research

Keywords: Labor market policy; Developed countries; Economic recession; Unemployment; Minimum wage; Wage bargaining; Technical Assistance; Fund role; labor market institutions; Great Recession; employment protection; unemployment insurance; unemployed; unemployment rate; unemployment benefits; unemployment duration; rate of unemployment; high unemployment; natural rate of unemployment; low unemployment; high employment; duration of unemployment; labor demand; unemployment rates; retraining; beveridge; beveridge curve; high unemployment rates; average unemployment rate; private employment; unemployment benefit system; unemployment insurance benefits; employment prospects; job search; effect on employment; unemployment insurance system; short-term employment; effects on employment; period of unemployment; low employment; employment effects; unemployed workers; inflow into unemployment; reemployment; labor force; employment insecurity; low unemployment rate; incidence of unemployment; stable employment; employment conditions; employment relationships; high level of employment;

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References

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  1. Bourlès, R. & Cette, G. & Lopez, J. & Mairesse, J. & Nicoletti, G., 2010. "Do product market regulations in upstream sectors curb productivity growth? Panel data evidence for OECD countries," Working papers, Banque de France 283, Banque de France.
  2. Gary S. Becker & Robert J. Barro, . "A Reformulation of the Economic Theory of Fertility," University of Chicago - Population Research Center, Chicago - Population Research Center 85-11, Chicago - Population Research Center.
  3. Emmanuel Farhi & Gita Gopinath & Oleg Itskhoki, 2011. "Fiscal Devaluations," NBER Working Papers 17662, National Bureau of Economic Research, Inc.
  4. Olivier Blanchard & Jean Tirole, 2004. "The Optimal Design of Unemployment Insurance and Employment Protection. A First Pass," NBER Working Papers 10443, National Bureau of Economic Research, Inc.
  5. Rinne, Ulf & Zimmermann, Klaus F., 2011. "Another Economic Miracle? The German Labor Market and the Great Recession," IZA Discussion Papers 6250, Institute for the Study of Labor (IZA).
  6. Peter A. Diamond, 2013. "Cyclical Unemployment, Structural Unemployment," NBER Working Papers 18761, National Bureau of Economic Research, Inc.
  7. Edward P. Lazear & James R. Spletzer, 2012. "The United States Labor Market: Status Quo or A New Normal?," NBER Working Papers 18386, National Bureau of Economic Research, Inc.
  8. Cahuc, Pierre & Carcillo, Stéphane, 2011. "Is Short-time Work a Good Method to Keep Unemployment Down?," CEPR Discussion Papers, C.E.P.R. Discussion Papers 8214, C.E.P.R. Discussion Papers.
  9. Pedro Portugal & Olivier Blanchard, 2001. "What Hides Behind an Unemployment Rate: Comparing Portuguese and U.S. Labor Markets," American Economic Review, American Economic Association, American Economic Association, vol. 91(1), pages 187-207, March.
  10. Bergljot Barkbu & Jesmin Rahman & Rodrigo O. Valdés, 2012. "Fostering Growth in Europe Now," IMF Staff Discussion Notes, International Monetary Fund 12/07, International Monetary Fund.
  11. Christopher A. Pissarides, 2000. "Equilibrium Unemployment Theory, 2nd Edition," MIT Press Books, The MIT Press, The MIT Press, edition 1, volume 1, number 0262161877, December.
  12. Andrea Bassanini & Luca Nunziata & Danielle Venn, 2009. "Job protection legislation and productivity growth in OECD countries," Economic Policy, CEPR;CES;MSH, CEPR;CES;MSH, vol. 24, pages 349-402, 04.
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Blog mentions

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  1. La dérégulation du marché du travail est-elle une solution au chômage ?
    by ? in D'un champ l'autre on 2014-04-26 13:10:00

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