Unemployment Hysteresis Wage Determination And Labor Market Flexibility
Download Unemployment Hysteresis Wage Determination And Labor Market Flexibility full books in PDF, epub, and Kindle. Read online free Unemployment Hysteresis Wage Determination And Labor Market Flexibility ebook anywhere anytime directly on your device. Fast Download speed and no annoying ads. We cannot guarantee that every ebooks is available!
Unemployment Hysteresis, Wage Determination, and Labor Market Flexibility
Author | : International Monetary Fund |
Publisher | : International Monetary Fund |
Total Pages | : 33 |
Release | : 1994-12-01 |
Genre | : Business & Economics |
ISBN | : 1451856938 |
Download Unemployment Hysteresis, Wage Determination, and Labor Market Flexibility Book in PDF, Epub and Kindle
This paper examines the potential contribution of unemployment hysteresis theories to the understanding of the Belgian labor market. It estimates models of wage determination using aggregate and firm-level panel data. Two main conclusions emerge: (i) the long-term unemployed do not exert a negative impact on wages; and (ii) there is some evidence that the incumbent workers, the “insiders,” exercise market power in wage determination, taking greater account of their own interests than those of the unemployed “outsiders.” In addition, it is argued that the automatic indexation of wages to prices in Belgium can cause a downward rigidity in real wages, given the multi-tier real wage bargaining process. Recent initiatives, including the introduction of a competitiveness norm for indexation, and labor market programs aimed at the long-term unemployed and the young, such as the plan d’accompagnement and the plan d’embauche des jeunes, are appropriate in view of the existence of insider power in wage determination.
Unemployment Hysteresis, Wage Determination, and Labor Market Flexibility Related Books
Pages: 33
Pages: 40
Pages: 34
Pages:
Pages: 433