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Identifying Asymmetric Effects of Labor Market Reforms

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  • Weber, Enzo
  • Gehrke, Britta

Abstract

This paper proposes a novel approach to identify structural long-term driving forces of the labor market and their state dependent effects. Based on search and matching theory, our empirical model extracts these driving forces within an unobserved components approach. We relate changes in the labor market structures to reforms that enhance the flexibility of the labor market in expansion and recession. Results for Germany and Spain show that labor market reforms have substantially weaker beneficial effects in the short-run when implemented in recessions. From a policy perspective, these results highlight the costs of introducing reforms in recessions.

Suggested Citation

  • Weber, Enzo & Gehrke, Britta, 2018. "Identifying Asymmetric Effects of Labor Market Reforms," VfS Annual Conference 2018 (Freiburg, Breisgau): Digital Economy 181513, Verein für Socialpolitik / German Economic Association.
  • Handle: RePEc:zbw:vfsc18:181513
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    Cited by:

    1. Gehrke, Britta & Lechthaler, Wolfgang & Merkl, Christian, 2019. "The German labor market during the Great Recession: Shocks and institutions," Economic Modelling, Elsevier, vol. 78(C), pages 192-208.
    2. Francesco Zanetti & Konstantinos Theodoridis, 2018. "State Dependence in Labor Market Fluctuations: Evidence, Theory, and Policy Implications," Economics Series Working Papers 856, University of Oxford, Department of Economics.
    3. Robert E. Hall & Marianna Kudlyak, 2021. "Why Has the US Economy Recovered So Consistently from Every Recession in the Past 70 Years?," NBER Chapters, in: NBER Macroeconomics Annual 2021, volume 36, National Bureau of Economic Research, Inc.
    4. Hutter, Christian & Klinger, Sabine & Trenkler, Carsten & Weber, Enzo, 2019. "Which factors are behind Germany's labour market upswing?," IAB Discussion Paper 201920, Institut für Arbeitsmarkt- und Berufsforschung (IAB), Nürnberg [Institute for Employment Research, Nuremberg, Germany].
    5. Goulas, Eleftherios & Zervoyianni, Athina, 2018. "Active labour-market policies and output growth: Is there a causal relationship?," Economic Modelling, Elsevier, vol. 73(C), pages 1-14.
    6. Rieth, Malte & Wittich, Jana, 2020. "The impact of ECB policy on structural reforms," European Economic Review, Elsevier, vol. 122(C).
    7. Nicodemo, Catia & Satorra, Albert, 2020. "Exploratory Data Analysis on Large Data Sets: The Example of Salary Variation in Spanish Social Security Data," IZA Discussion Papers 13459, Institute of Labor Economics (IZA).
    8. Gehrke, Britta & Lechthaler, Wolfgang & Merkl, Christian, 2017. "The German labor market in the Great Recession: Shocks and institutions," IAB Discussion Paper 201714, Institut für Arbeitsmarkt- und Berufsforschung (IAB), Nürnberg [Institute for Employment Research, Nuremberg, Germany].
    9. White-Means, Shelley I. & Osmani, Ahmad Reshad, 2019. "Job Market Prospects of Breast vs. Prostate Cancer Survivors in the US: A Double Hurdle Model of Ethnic Disparities," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, pages 282-304.
    10. Osiander, Christopher & Stephan, Gesine, 2018. "Unter welchen Bedingungen würden sich Beschäftigte weiterbilden? : Ergebnisse eines faktoriellen Surveys," IAB Discussion Paper 201804, Institut für Arbeitsmarkt- und Berufsforschung (IAB), Nürnberg [Institute for Employment Research, Nuremberg, Germany].
    11. Britta Gehrke & Brigitte Hochmuth, 2021. "Counteracting Unemployment in Crises: Non‐Linear Effects of Short‐Time Work Policy," Scandinavian Journal of Economics, Wiley Blackwell, vol. 123(1), pages 144-183, January.
    12. Wolfgang Dauth & Johann Eppelsheimer, 2020. "Preparing the sample of integrated labour market biographies (SIAB) for scientific analysis: a guide," Journal for Labour Market Research, Springer;Institute for Employment Research/ Institut für Arbeitsmarkt- und Berufsforschung (IAB), vol. 54(1), pages 1-14, December.
    13. Karamti, Chiraz, 2019. "Lopsided effects of telecom reforms on mobile markets in the enlarged EU: Evidence from dynamic quantile model," Telecommunications Policy, Elsevier, vol. 43(3), pages 238-261.

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    More about this item

    Keywords

    labor market reforms; search and matching; business cycle asymmetries; Markov switching;
    All these keywords.

    JEL classification:

    • C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models
    • E02 - Macroeconomics and Monetary Economics - - General - - - Institutions and the Macroeconomy
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • J08 - Labor and Demographic Economics - - General - - - Labor Economics Policies

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