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The Natural Survival of Work: Job Creation and Job Destruction in a Growing Economy

Author

Listed:
  • Pierre Cahuc

    () (École Polytechnique)

  • André Zylberberg

    () (Université Paris 1, Panthéon Sorbonne)

Abstract

Every working day in the United States, 90,000 jobs disappear--and an equal number are created. This discovery has radically altered the way economists think about how labor markets work. Without this necessary phenomenon of "creative destruction," our economies would experience much lower growth. Unemployment is a natural consequence of a vigorous economy--and is in fact indispensable to it. In The Natural Survival of Work, labor economists Pierre Cahuc and André Zylberberg consider how to manage the unemployment that results from the desirable churning of the economy, drawing on recent economic research and citing examples from France, the United States, the United Kingdom, and elsewhere. Unemployment in many continental European countries, particularly among youth, has reached high levels in recent years, and Cahuc and Zylberberg criticize labor market policies that are based on politics rather than economics. They discuss the minimum wage in both the United States and France and show that increasing it, under certain circumstances, can increase employment. They find fault with the idea that work sharing is a cure for unemployment. They consider how to design a system of unemployment insurance that does not destroy the incentive to find work, and examine the effect of government regulation of layoffs. Finally, they analyze the true impact of education and training as remedies for unemployment. Economists today know more about how labor markets work. Policies could be more effective, Cahuc and Zylberberg argue, if they were based upon this knowledge.

Suggested Citation

  • Pierre Cahuc & André Zylberberg, 2006. "The Natural Survival of Work: Job Creation and Job Destruction in a Growing Economy," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262033577, January.
  • Handle: RePEc:mtp:titles:0262033577
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    Citations

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    Cited by:

    1. Gerlach Knut & Hübler Olaf, 2009. "Employment Adjustments on the Internal and External Labour Market – An Empirical Study with Personnel Records of a German Company," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), De Gruyter, vol. 229(2-3), pages 198-213, April.
    2. Joachim Wagner, 2008. "Die Forschungspotenziale der Betriebspaneldaten des Monatsberichts im Verarbeitenden Gewerbe," AStA Wirtschafts- und Sozialstatistisches Archiv, Springer;Deutsche Statistische Gesellschaft - German Statistical Society, vol. 2(3), pages 209-221, October.
    3. Guillaume Blache, 2011. "Active labour market policies in Denmark: A comparative analysis of post-program effects," Documents de travail du Centre d'Economie de la Sorbonne 11071, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
    4. Joanna Tyrowicz & Lucas Velde & Jan Svejnar, 2017. "Effects Of Labor Reallocation On Productivity And Inequality—Insights From Studies On Transition," Journal of Economic Surveys, Wiley Blackwell, vol. 31(3), pages 712-732, July.
    5. Gianluigi Pelloni & Marco Savioli, 2015. "Why Is Italy Doing So Badly?," Economic Affairs, Wiley Blackwell, vol. 35(3), pages 349-365, October.
    6. repec:rim:rimpre:15_01 is not listed on IDEAS
    7. Kiarash Motamedi & Nathalie Picard & André de Palma, 2013. "Employment and Business Evolution and Location Choice in Paris Area Firmographics approach," THEMA Working Papers 2013-28, THEMA (THéorie Economique, Modélisation et Applications), Université de Cergy-Pontoise.
    8. repec:hal:journl:halshs-00654181 is not listed on IDEAS
    9. Guimaraes, Paulo & Martins, Fernando & Portugal, Pedro, 2017. "Upward Nominal Wage Rigidity," IZA Discussion Papers 10510, Institute for the Study of Labor (IZA).
    10. Guillaume Blache, 2011. "Active Labour Market Policies in Denmark : A Comparative Analysis of Post-Program Effects," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00654181, HAL.

    More about this item

    Keywords

    work; labor market; unemployment insurance; job creation; job destruction;

    JEL classification:

    • J6 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers

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