Belot, Michèle (CentER for Economic Research and Department of Economics, Tilburg University and Institute for Labour Studies) van Ours, Jan C. () (CentER for Economic Research and Department of Economics, Tilburg University, Institute for Labour Studies, CEPR and IZA, Bonn)
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The development of the unemployment rate differs substantially between OECD countries. In recent years some countries experienced a mild increase, other countries had a stable unemployment rate, while there are also ‘successful’ countries in which the unemployment rate decreased a lot. A common feature of the successful countries is that they implemented a comprehensive set of institutional reforms. In this paper we present a theoretical and empirical framework to investigate how unemployment is affected by different labour market institutions (LMI) such as labour taxes, unemployment benefits, employment protection, union bargaining power and (de)centralisation of bargaining. We argue that complementarities between LMI can be exploited to improve labour market performance. In our empirical analysis of annual data over the period 1960-1995 of eighteen OECD countries we show that interactions between LMI are indeed important.
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Paper provided by Institute for the Study of Labor (IZA) in its series IZA Discussion Papers with number
147.
References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
Baltagi, Badi H & Griffin, James M, 1984.
"Short and Long Run Effects in Pooled Models,"
International Economic Review,
Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 25(3), pages 631-45, October.
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