Toward a theory of labor market institutions
AbstractStandard economic analysis holds that labor market rigidities are harmful for job creation and typically increase unemployment. But many orthodox reforms of the labor market have proved difficult to implement because of political opposition. For these reasons it is important to explain why we observe such regulations. In this paper I outline a theory of how they may arise and why they fit together. This theory is fully developed in a forthcoming book (Saint-Paul (2000)), to which the reader is referred for further details.
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Bibliographic InfoPaper provided by Department of Economics and Business, Universitat Pompeu Fabra in its series Economics Working Papers with number 433.
Date of creation: Nov 1999
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Political economy; labor market institutions; unemployment;
Find related papers by JEL classification:
- D7 - Microeconomics - - Analysis of Collective Decision-Making
- E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution
- E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook
- H2 - Public Economics - - Taxation, Subsidies, and Revenue
- J3 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs
- J4 - Labor and Demographic Economics - - Particular Labor Markets
- J5 - Labor and Demographic Economics - - Labor-Management Relations, Trade Unions, and Collective Bargaining
- J6 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers
- K31 - Law and Economics - - Other Substantive Areas of Law - - - Labor Law
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- Saint-Paul, Gilles, 1994.
"Unemployment, wage rigidity, and the returns to education,"
European Economic Review,
Elsevier, vol. 38(3-4), pages 535-543, April.
- Saint-Paul, G., 1993. "Unemployment, Wage Rigidity, and the Returns to Education," DELTA Working Papers 93-11, DELTA (Ecole normale supérieure).
- Paul Krugman, 1994.
"Past and prospective causes of high unemployment,"
Proceedings - Economic Policy Symposium - Jackson Hole,
Federal Reserve Bank of Kansas City, issue Jan, pages 49-98.
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