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The celtic tiger faces the factor price frontier: Labour market adjustment in Ireland

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  • Schimmelpfennig, Axel

Abstract

Labour market flexibility is the key to sustainable economic development in advanced economies. The factor price frontier is used to analyse labour market adjustment in Ireland from the sixties to the present. The theoretical and empirical analysis lend support to the wideheld belief that excessive wage increases due to the interaction of the bargaining system and institutional rigidities have been at the root of the Irish unemployment problem in the eighties.

Suggested Citation

  • Schimmelpfennig, Axel, 1998. "The celtic tiger faces the factor price frontier: Labour market adjustment in Ireland," Kiel Working Papers 855, Kiel Institute for the World Economy.
    • Handle: RePEc:zbw:ifwkwp:855
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