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The Effects of Institutions on the Labour Market Outcomes: Cross-country Analysis

Author

Listed:
  • Kim, Yong-seong
  • Kim, Taebong

Abstract

This paper re-examines the impacts an institutional arrangement may have on labour market outcomes such as the employment and unemployment rates. Based on the results from a generalized econometric model, the generosity of unemployment insurance benefits, organized labour and active labour market policy have effects on a labour market in line with previous findings. However, taxes on labour and the degree of employment protection are found to affect neither the employment rate nor the unemployment rate. Thus, some findings in this paper validate earlier findings, whereas others do not.

Suggested Citation

  • Kim, Yong-seong & Kim, Taebong, 2017. "The Effects of Institutions on the Labour Market Outcomes: Cross-country Analysis," KDI Journal of Economic Policy, Korea Development Institute (KDI), vol. 39(4), pages 69-94.
    • Handle: RePEc:zbw:kdijep:200816
    DOI: 10.23895/kdijep.2017.39.4.69
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    References listed on IDEAS

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    3. Blanchard, Olivier & Wolfers, Justin, 2000. "The Role of Shocks and Institutions in the Rise of European Unemployment: The Aggregate Evidence," Economic Journal, Royal Economic Society, vol. 110(462), pages 1-33, March.
    4. Edward P. Lazear, 1990. "Job Security Provisions and Employment," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 105(3), pages 699-726.
    5. David Card & Jochen Kluve & Andrea Weber, 2010. "Active Labour Market Policy Evaluations: A Meta-Analysis," Economic Journal, Royal Economic Society, vol. 120(548), pages 452-477, November.
    6. Stephen Nickell, 1997. "Unemployment and Labor Market Rigidities: Europe versus North America," Journal of Economic Perspectives, American Economic Association, vol. 11(3), pages 55-74, Summer.
    7. Harvey,Andrew C., 1991. "Forecasting, Structural Time Series Models and the Kalman Filter," Cambridge Books, Cambridge University Press, number 9780521405737.
    8. Michèle Belot & Jan C. van Ours, 2004. "Does the recent success of some OECD countries in lowering their unemployment rates lie in the clever design of their labor market reforms?," Oxford Economic Papers, Oxford University Press, vol. 56(4), pages 621-642, October.
    9. Céline Nauges & Alban Thomas, 2003. "Consistent estimation of dynamic panel data models with time-varying individual effects," Annals of Economics and Statistics, GENES, issue 70, pages 53-75.
    10. Lawrence Summers & Jonathan Gruber & Rodrigo Vergara, 1993. "Taxation and the Structure of Labor Markets: The Case of Corporatism," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 108(2), pages 385-411.
    11. Hopenhayn, Hugo & Rogerson, Richard, 1993. "Job Turnover and Policy Evaluation: A General Equilibrium Analysis," Journal of Political Economy, University of Chicago Press, vol. 101(5), pages 915-938, October.
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    More about this item

    Keywords

    Employment Rate; Unemployment Rate; Labor Market Institutions; Cross-country Analysis;
    All these keywords.

    JEL classification:

    • C01 - Mathematical and Quantitative Methods - - General - - - Econometrics
    • J08 - Labor and Demographic Economics - - General - - - Labor Economics Policies
    • J21 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Force and Employment, Size, and Structure
    • P51 - Political Economy and Comparative Economic Systems - - Comparative Economic Systems - - - Comparative Analysis of Economic Systems

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