Labor market rigidities and unemployment in Europe
The paper studies the major institutional changes that are at the root of the increase in the west European unemployment rate in the last quartercentury from below 3 percent to 11 percent. The institutional characteristics of wage bargaining, the tax wedge and the legal rules hamper the self-equilibrating function of the labor market. The reservation wage, implicitly increased by the rise of the welfare state, has affected the bargaining process, the wage level and the wage structure. Econometric evidence is presented. Unemployment differs depending on the Scandinavian, the French-Mediterranean, the German and the British-Dutch approach to the labor market.
|Date of creation:||1997|
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- Steven J. Davis, 1992.
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NBER Working Papers
4085, National Bureau of Economic Research, Inc.
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648, Kiel Institute for the World Economy (IfW).
- repec:hhs:iuiwop:466 is not listed on IDEAS
- Moffitt, Robert, 1992. "Incentive Effects of the U.S. Welfare System: A Review," Journal of Economic Literature, American Economic Association, vol. 30(1), pages 1-61, March.
- Lars Calmfors, 1993. "Centralisation of Wage Bargaining and Macroeconomic Performance: A Survey," OECD Economics Department Working Papers 131, OECD Publishing.
- Soltwedel, Rüdiger & Bothe, Adrian & Hoffmeyer, Martin & Laaser, Claus-Friedrich & Lammers, Konrad & Merz, Monika & Reuter, Dieter, 1990. "Regulierungen auf dem Arbeitsmarkt der Bundesrepublik," Open Access Publications from Kiel Institute for the World Economy 418, Kiel Institute for the World Economy (IfW).
- Katz, Lawrence F. & Meyer, Bruce D., 1990.
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Journal of Public Economics,
Elsevier, vol. 41(1), pages 45-72, February.
- Lawrence F. Katz & Bruce D. Meyer, 1988. "The Impact of the Potential Duration of Unemployment Benefits on the Duration of Unemployment," NBER Working Papers 2741, National Bureau of Economic Research, Inc.
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