IDEAS home Printed from https://ideas.repec.org/p/ihs/ihsesp/57.html

Price and Quantity Adjustments in the Austrian Labour Markets

Author

Listed:
  • Hofer, Helmut

    (Department of Economics, Institute for Advanced Studies, Vienna)

  • Pichelmann, Karl

    (Department of Economics, Institute for Advanced Studies, Vienna)

  • Schuh, Andreas-Ulrich

    (Ministry of Finance, Vienna)

Abstract

Austria is among the very few countries in the European Union which have managed to maintain comparatively low unemployment rates and high employment rates. In international comparison Austrian unemployment is very stable over the business cycle. This is mainly due to the high sensitivity of the labour force on cyclical conditions and, partly, also on the relatively weak responsiveness of employment to cyclical fluctuations in output, the latter being possibly attributable to the high degree of real wage flexibility in Austria. However, we also found evidence for outsider effects in the Austrian wage setting process stemming from the increased share of long term unemployed, which plausibly reflect human capital effects on reemployment possibilities for persons being unemployed for extended periods of time. Relative wage structures, on the other hand, appear to be rather rigid.

Suggested Citation

  • Hofer, Helmut & Pichelmann, Karl & Schuh, Andreas-Ulrich, 1998. "Price and Quantity Adjustments in the Austrian Labour Markets," Economics Series 57, Institute for Advanced Studies.
    • Handle: RePEc:ihs:ihsesp:57
    as

    Download full text from publisher

    File URL: https://irihs.ihs.ac.at/id/eprint/1095
    File Function: First version, 1998
    Download Restriction: no
    ---><---

    Other versions of this item:

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Wolfgang Pollan, 1999. "Estimating the Economic Effects of Immigration in a Not Strictly Segmented Labor Market. The Case of Germany and Austria," WIFO Working Papers 119, WIFO.
    2. Andreas Kuhn, 2010. "Demand for redistribution, support for the welfare state, and party identification in Austria," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 37(2), pages 215-236, May.
    3. Marin, Dalia, 2004. "‘A Nation of Poets and Thinkers’ - Less So with Eastern Enlargement? Austria and Germany," Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems 77, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich.
    4. Helmut Hofer & Peter Huber, 2003. "Wage and Mobility Effects of Trade and Migration on the Austrian Labour Market," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 30(2), pages 107-125, June.
    5. Peter Huber & Helmut Hofer, 2001. "Teilprojekt 9: Auswirkungen der EU-Erweiterung auf den österreichischen Arbeitsmarkt," WIFO Studies, WIFO, number 19839, August.
    6. Helmut Hofer & Gerlinde Titelbach & Stefan Vogtenhuber, 2017. "Polarisierung am österreichischen Arbeitsmarkt?," Wirtschaft und Gesellschaft - WuG, Kammer für Arbeiter und Angestellte für Wien, Abteilung Wirtschaftswissenschaft und Statistik, vol. 43(3), pages 379-404.
    7. Dalia Marin, 2011. "The Opening Up of Eastern Europe at 20: Jobs, Skills and Reverse Maquiladoras in Austria and Germany," Chapters, in: Miroslav N. Jovanović (ed.), International Handbook on the Economics of Integration, Volume II, chapter 13, Edward Elgar Publishing.
    8. Peter Huber & Stefan Ederer, 2011. "FAMO – Fachkräftemonitoring. Regelmäßige Erhebung des Angebots und des Bedarfs an Fachkräften in der Grenzregion Ostösterreichs mit der Slowakei. FAMO II: Regionale und gesamtwirtschaftliche Entwicklu," WIFO Studies, WIFO, number 42874, August.
    9. Alfred Stiglbauer & Florian Stahl & Rudolf Winter-Ebmer & Josef Zweimüller, 2003. "Job Creation and Job Destruction in a Regulated Labor Market: The Case of Austria," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 30(2), pages 127-148, June.
    10. Peter Huber, 1998. "Hohes Wachstum bei raschem Strukturwandel in Niederösterreich," WIFO Monatsberichte (monthly reports), WIFO, vol. 71(12), pages 855-863, December.
    11. Andreas Kuhn, 2009. "Demand for Redistribution, Support for the Welfare State, and Party Identification in Austria," IEW - Working Papers 440, Institute for Empirical Research in Economics - University of Zurich.
    12. Peter Huber, 2009. "FAMO – Fachkräftemonitoring. Regelmäßige Erhebung des Angebots und des Bedarfs an Fachkräften in der Grenzregion Ostösterreichs mit der Slowakei. FAMO I: Wirtschaftliche Entwicklung in der CENTROPE-Re," WIFO Studies, WIFO, number 37425, August.
    13. Julia Bock-Schappelwein & Peter Huber, 2015. "Auswirkungen einer Erleichterung des Arbeitsmarktzuganges für Asylsuchende in Österreich," WIFO Studies, WIFO, number 59410, August.
    14. Hofer, Helmut & Weber, Andrea, 2002. "Wage mobility in Austria 1986-1996," Labour Economics, Elsevier, vol. 9(4), pages 563-577, September.
    15. Emilia Del Bono & Andrea Weber, 2008. "Do Wages Compensate for Anticipated Working Time Restrictions? Evidence from Seasonal Employment in Austria," Journal of Labor Economics, University of Chicago Press, vol. 26(1), pages 181-221.
    16. Peter Huber & Georg Böhs, 2012. "Auswirkungen der Liberalisierung des österreichischen Arbeitsmarktes für die Arbeitskräfte aus den neuen EU-Ländern auf die Regionen Österreichs," WIFO Studies, WIFO, number 59416, August.
    17. Simon Jäger & Benjamin Schoefer & Samuel Young & Josef Zweimüller, 2020. "Wages and the Value of Nonemployment," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 135(4), pages 1905-1963.
    18. Thomas URL & Josef BAUMGARTNER & Helmut HOFER & Serguei KANIOVSKI & Andreas U. SCHUH, 2010. "A Long-run Macroeconomic Model of the Austrian Economy (A-LMM)," EcoMod2004 330600143, EcoMod.
    19. Smirnych, Larissa & Woergoetter, Andreas, 2000. "Einkommen, Geschlecht und Arbeitsplatzwechsel in Russland 1998. Earnings, Gender, and Mobility in the RF 1995-1998," Transition Economics Series 15, Institute for Advanced Studies.
    20. Marin, Dalia, 2004. "A Nation of Poets and Thinkers - Less so with Eastern Enlargement? Austria and Germany," CEPR Discussion Papers 4358, C.E.P.R. Discussion Papers.
    21. Jiří Večerník, 2001. "Earnings disparities in the czech republic: evidence of the past decade and cross-national comparison," Prague Economic Papers, Prague University of Economics and Business, vol. 2001(3).
    22. Kuhn, Andreas, 2009. "Demand for Redistribution, Support for the Welfare State, and Party Identification in Austria," IZA Discussion Papers 4449, Institute of Labor Economics (IZA).
    23. Andreas Kuhn, 2009. "Demand for Redistribution, Support for the Welfare State, and Party Identification in Austria," NRN working papers 2009-17, The Austrian Center for Labor Economics and the Analysis of the Welfare State, Johannes Kepler University Linz, Austria.
    24. repec:onb:oenbwp:y::i:78:b:1 is not listed on IDEAS

    More about this item

    Keywords

    ;
    ;
    ;
    ;

    JEL classification:

    • J3 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs
    • J4 - Labor and Demographic Economics - - Particular Labor Markets
    • J6 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ihs:ihsesp:57. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Doris Szoncsitz (email available below). General contact details of provider: https://edirc.repec.org/data/deihsat.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.