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No Consensus In The Imf-Oecd 'Consensus': A Meta-Analysis On The Employment Impact Of Labour Deregulations

Author

Listed:
  • Emiliano Brancaccio

    (Universita' degli studi del Sannio)

  • Fabiana De Cristofaro

    (Institute of Economics and EMbeDS Department, Scuola Superiore Sant’Anna, Pisa)

  • Raffaele Giammetti

    (Department of Economics and Social Sciences, Universita' Politecnica delle Marche (Italy))

Abstract

The so-called 'IMF-OECD consensus' suggests that labour market deregulations increase employment and reduce unemployment. We present a first meta-analysis on the subject based on MAER-NET guidelines. We examine the relation between Employment Protection Legislation indexes on one hand and employment and unemployment on the other. Among 53 academic papers published between 1990 and 2019 and contained in the Web of Science, only 28% supports the 'consensus' while the remaining 72% report results that are controversial (21%) or contrary to the 'consensus' (51%). The decline in 'consensus' is particularly evident in the last decade. Results are independent of the citations of the papers examined, the impact factor of the journals and the techniques used. A FAT-PET meta-regression model confirms these outcomes.

Suggested Citation

  • Emiliano Brancaccio & Fabiana De Cristofaro & Raffaele Giammetti, 2020. "No Consensus In The Imf-Oecd 'Consensus': A Meta-Analysis On The Employment Impact Of Labour Deregulations," Working Papers 445, Universita' Politecnica delle Marche (I), Dipartimento di Scienze Economiche e Sociali.
    • Handle: RePEc:anc:wpaper:445
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    2. Grodzicki, Maciej J. & Możdżeń, Michał, 2021. "Central and Eastern European economies in a Goldilocks age: A model of labor market institutional choice," Economic Modelling, Elsevier, vol. 104(C).

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    More about this item

    Keywords

    Labour market; Employment protection legislation; Unemployment; Meta-analysis; Meta-Regression;
    All these keywords.

    JEL classification:

    • B5 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches
    • C83 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Survey Methods; Sampling Methods
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • J48 - Labor and Demographic Economics - - Particular Labor Markets - - - Particular Labor Markets; Public Policy
    • K31 - Law and Economics - - Other Substantive Areas of Law - - - Labor Law

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