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Effects of Labor Reallocation on Productivity and Inequality -- Insights from Studies on Transition

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  • Svejnar, Jan
  • Tyrowicz, Joanna
  • van der Velde, Lucas

Abstract

From a theoretical perspective the link between the speed and scope of rapid labor reallocation and productivity growth or income inequality is ambiguous. Do reallocations with more flows tend to produce higher productivity growth? Does such a link appear at the expense of higher income inequality? We explore the rich evidence from earlier studies on worker flows in the period of massive and rapid labor reallocation, i.e. the economic transition from a centrally planned to a market-oriented economy in Central and Eastern Europe. We have collected over 450 estimates of job flows from the literature and used these inputs to estimate the short-run and long-run relationship between labor market flows, labor productivity and income inequality. We apply the tools typical for a meta-analysis to verify the empirical regularities between labor flows and productivity growth as well as income inequality. Our findings suggest only weak and short term links with productivity, driven predominantly by business cycles. However, data reveal a strong pattern for income inequality in the short-run - more churning during reallocation is associated with a level effect towards increased Gini indices.

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  • Svejnar, Jan & Tyrowicz, Joanna & van der Velde, Lucas, 2016. "Effects of Labor Reallocation on Productivity and Inequality -- Insights from Studies on Transition," CEPR Discussion Papers 11672, C.E.P.R. Discussion Papers.
  • Handle: RePEc:cpr:ceprdp:11672
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    3. Stanislaw Cichocki & Joanna Tyrowicz & Lucas van der Velde, 2017. "Cyclical Trend of Labor Reallocation in Poland: Transition and Structural Change," Eastern European Economics, Taylor & Francis Journals, vol. 55(6), pages 543-556, November.
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    More about this item

    Keywords

    Transition; Job creation; Job destruction; Worker flows; Unemployment;
    All these keywords.

    JEL classification:

    • D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
    • D92 - Microeconomics - - Micro-Based Behavioral Economics - - - Intertemporal Firm Choice, Investment, Capacity, and Financing
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

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