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Labour Market Institutions and Labour Market Performance in the European Union

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  • Michal, Tvrdon

Abstract

The presented article deals with labour market institutions and labour market performance in the European Union. The first chapter is devoted to theoretical and methodological background of labour market performance. Theoretical literature has created a set of institutional aspects such as employment protection legislation, structure of wage bargaining, taxation of labour, active labour market policy, the system of unemployment and social benefits. All these aspects determine the institutional framework of labour market. Theoretical literature also has defined labour market flexibility as an instrument for adjustment process in case of asymmetric shock. Attention is also paid to influence of these institutional aspects on employment or unemployment. The second chapter is composed of the comparative analysis of selected criteria and corresponding economic indicators of the EU member states. The author has chosen the method of comparative analysis as the basic method for accomplishing the goal of the paper - to analyse the labour market institutions and their contribution to labour market performance in the EU member states. The evidence shows that the labour market flexibility in the Visegrad group countries is better than average of old EU-15 member states. However, this level of flexibility is much behind the level of USA or Anglo-Saxon countries. The main problem of Visegrad group is long-term unemployment and its composition and a lower level of employment. The author assumes that improving these indicators is one of the most important tasks for political-economic authorities.

Suggested Citation

  • Michal, Tvrdon, 2008. "Labour Market Institutions and Labour Market Performance in the European Union," MPRA Paper 12219, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:12219
    as

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    File URL: https://mpra.ub.uni-muenchen.de/12219/1/MPRA_paper_12219.pdf
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    References listed on IDEAS

    as
    1. Tito Boeri & Giuseppe Nicoletti & Stefano Scarpetta, "undated". "Regulation and Labour Market Performance," Working Papers 158, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.
    2. Andrew Hughes Hallett & Svend E. Hougaard Jensen, 2003. "On the Role of Labour Market Reform for the Enlargement of a Monetary Union," CESifo Economic Studies, CESifo, vol. 49(3), pages 355-379.
    3. André Van Poeck & Alain Borghijs, 2001. "EMU and Labour Market Reform: Needs, Incentives and Realisations," The World Economy, Wiley Blackwell, vol. 24(10), pages 1327-1352, November.
    4. Danthine, Jean-Pierre & Hunt, Jennifer, 1994. "Wage Bargaining Structure, Employment and Economic Integration," Economic Journal, Royal Economic Society, vol. 104(424), pages 528-541, May.
    5. Romain Duval & Jørgen Elmeskov, 2005. "The Effects of EMU on Structural Reforms in Labour and Product Markets," OECD Economics Department Working Papers 438, OECD Publishing.
    6. repec:sae:niesru:v:115:y::i:1:p:52-63 is not listed on IDEAS
    7. Corneo, Giacomo, 1995. "National wage bargaining in an internationally integrated product market," European Journal of Political Economy, Elsevier, vol. 11(3), pages 503-520, September.
    8. Eamets, Raul & Masso, Jaan, 2004. "Labour Market Flexibility and Employment Protection Regulation in the Baltic States," IZA Discussion Papers 1147, Institute for the Study of Labor (IZA).
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Labour market; tax wedge; wage bargaing; EMU; integration; labour market flexibility;

    JEL classification:

    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • J60 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - General
    • J01 - Labor and Demographic Economics - - General - - - Labor Economics: General

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