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The Social Dimensions of Labour Market Institutions

Author

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  • Argandoña, Antonio

    (IESE Business School)

Abstract

The labour market is both a market and a "social institution". But what do we mean by that? In the first part of this article we analyse different interpretations of the labour market's "social" dimension, starting with the versions postulated by economists and ending with those that invoke solidarity as a criterion. In the second part, we analyse the functions of the institutions that embody the labour market's social dimension, both from the positive viewpoint -correcting market failures- and the negative viewpoint -creating and capturing rents. Discussion of the factors that explain how these institutions come into being and evolve allows us to identify a number of institutions that perform a dual function: correcting market failures, and also correcting failures in other institutions

Suggested Citation

  • Argandoña, Antonio, 2001. "The Social Dimensions of Labour Market Institutions," IESE Research Papers Db/442, IESE Business School.
    • Handle: RePEc:ebg:iesewp:db-0442
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    Cited by:

    1. repec:ilo:ilowps:432000 is not listed on IDEAS
    2. Argandoña, Antonio, 2002. "Ethical challenges of the new economy: An agenda of issues," IESE Research Papers D/463, IESE Business School.
    3. Bertola, Giuseppe., 2009. "Labour market regulation : motives, measures, effects," ILO Working Papers 994320003402676, International Labour Organization.

    More about this item

    Keywords

    Economics; Labour market;

    JEL classification:

    • J40 - Labor and Demographic Economics - - Particular Labor Markets - - - General

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