Critical Notes on Labour Market Deregulation
| Author | : John Edward King |
| Publisher | : |
| Total Pages | : 32 |
| Release | : 1997 |
| Genre | : Labor market |
| ISBN | : |
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Employment Protection Deregulation and Labor Shares in Advanced Economies
| Author | : Gabriele Ciminelli |
| Publisher | : International Monetary Fund |
| Total Pages | : 72 |
| Release | : 2018-08-16 |
| Genre | : Business & Economics |
| ISBN | : 1484370082 |
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Labor market deregulation, intended to boost productivity and employment, is one plausible, yet little studied, driver of the decline in labor shares that took place across most advanced economies since the early 1990s. This paper assesses the impact of job protection deregulation in a sample of 26 advanced economies over the period 1970-2015, using a newly constructed dataset of major reforms to employment protection legislation for regular contracts. We apply the local projection method to estimate the dynamic response of the labor share to our reform events at both the country and the country-industry levels. For the latter, we employ a differences-in-differences identification strategy using two identifying assumptions grounded in theory—namely that job protection deregulation should have larger negative effects in industries characterized by (i) a higher “natural” propensity to adjust the workforce, and (ii) a lower elasticity of substitution between capital and labor. We find a statistically significant, economically large and robust negative effect of deregulation on the labor share. In particular, illustrative back-of-the-envelope calculations suggest that job protection deregulation may have contributed about 15 percent to the average labor share decline in advanced economies. Together with existing evidence regarding the macroeconomic gains from job protection and other labor market reforms, our results also point to the need for policymakers to address efficiency-equity trade-offs when designing such reforms.
Why Deregulate Labour Markets?
| Author | : Gøsta Esping-Andersen |
| Publisher | : Oxford University Press |
| Total Pages | : 374 |
| Release | : 2000 |
| Genre | : Business & Economics |
| ISBN | : 0198296819 |
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With contributions from economists & political scientists, this text takes a hard look at the empirical connections between unemployment & regulation in Europe today, utilising both in-depth nation analyses & broader international comparisons.
Challenging the Market
| Author | : International Working Group on Labour Market Regulation and Deregulation |
| Publisher | : McGill-Queen's Press - MQUP |
| Total Pages | : 399 |
| Release | : 2004 |
| Genre | : Business & Economics |
| ISBN | : 0773527265 |
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For two decades economic and social policy in most of the world has been guided by the notion that economies function best when they are fully exposed to competitive market forces. In labour market policy, this approach is reflected in the widespread emphasis on flexibility - a euphemism for the retrenchment of income support and social security, the relaxation of labour market regulations, and the enhanced power of private actors to determine the terms of the employment relationship. These strategies have had marked effects on labour market outcomes, leading to greater vulnerability and polarization - and not always in ways that enhance worker-centred flexibility. The authors offer a more balanced analysis of the functioning and effects of labour market regulation and deregulation. By questioning the underpinnings of the flexibility paradigm, and revealing its often damaging impacts (on different countries, sectors, and constituencies), they challenge the conclusion that unregulated market forces produce optimal labour market outcomes. The authors conclude with several suggestions for how labour policy could be reformulated to promote both efficiency and equity.
Job Protection Deregulation in Good and Bad Times
| Author | : Mr.Romain A Duval |
| Publisher | : International Monetary Fund |
| Total Pages | : 44 |
| Release | : 2017-12-14 |
| Genre | : Business & Economics |
| ISBN | : 1484333438 |
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This paper explores the short-term employment effect of deregulating job protection for regular workers and how it varies with prevailing business cycle conditions. We apply a local projection method to a newly constructed “narrative” dataset of major regular job protection reforms covering 26 advanced economies over the past four decades. The analysis relies on country-sector-level data, using as an identifying assumption the fact that stringent dismissal regulations are more binding in sectors that are characterized by a higher “natural” propensity to regularly adjust their workforce. We find that the responses of sectoral employment to large job protection deregulation shocks depend crucially on the state of the economy at the time of reform——they are positive in an expansion, but become negative in a recession. These findings are consistent with theory, and are robust to a broad range of robustness checks including an Instrumental Variable approach using political economy drivers of reforms as instruments. Our results provide a case for undertaking job protection reform in good times, or for designing it in ways that enhance its short-term impact.
Labour Market Deregulation and the Decline of Labour Power in North America and Western Europe
| Author | : John Peters |
| Publisher | : |
| Total Pages | : 0 |
| Release | : 2010 |
| Genre | : |
| ISBN | : |
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The goal of this article is to provide a critical evaluation of what has happened to organized labour and labour markets since 1980. It examines the impacts of labour market deregulation on wage share and pay standardization. It also explores how recent economic changes have weakened organized labour and eroded wage setting and social corporatism. The argument is made that contemporary institutional and 'Varieties of Capitalism' perspectives on labour market reform have overstated the power of states, institutions, and organized interests in deflecting global economic pressures. Drawing on a range of recent OECD statistics and qualitative studies, it is claimed that current labour deregulation policies and labour market reforms mark a fundamental break with post-war developments, and represent a reassertion of the power of capital ownership over organized labour and labour markets across North America and Western Europe. It assesses how far this reversal in power has gone by focusing on changes in four key variables: (i) job quality, (ii) wage share, (iii) pay standardization and income equality, and (iv) the effectiveness of wage setting institutions in allowing unions to bring bargaining pressure on capital. This is the first study to report on comparative changes and qualitative reforms to these labour market variables in 13 OECD countries between 1970 and the 25-year period 1980-2005.
Jobs with Inequality
| Author | : John Peters |
| Publisher | : University of Toronto Press |
| Total Pages | : 399 |
| Release | : 2022-06-29 |
| Genre | : Political Science |
| ISBN | : 1442665122 |
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Income inequality has skyrocketed in Canada over the past few decades. The rich have become richer, while the average household income has deteriorated and job quality has plummeted. Common explanations for these trends point to globalization, technology, or other forces largely beyond our control. But, as Jobs with Inequality shows, there is nothing inevitable about inequality. Rather, runaway inequality is the result of politics and policies - what governments have done to aid the rich and boost finance and what they have not done to uphold the interests of workers. Drawing on new tax and income data, John Peters tells the story of how inequality is unfolding in Canada today by examining post-democracy, financialization, and labour market deregulation. Timely and novel, Jobs with Inequality explains how and why business and government have rewritten the rules of the economy to the advantage of the few, and considers why progressive efforts to reverse these trends have so regularly run aground.
Greening Industries and Creating Jobs
| Author | : Bela Galgoczi |
| Publisher | : ETUI |
| Total Pages | : 227 |
| Release | : 2012 |
| Genre | : Climatic changes |
| ISBN | : 287452249X |
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How the objective of a resource-efficient low carbon economy is to be reached and how the transition is managed are the key issues addressed by this publication. The two main focuses are industrial policy and employment prospects on the road to a green economy that retains its industrial base. Any lasting recovery of the real economy will necessarily take the shape of a more resource-efficient production model. While we argue that only a more ambitious and comprehensive European climate policy framework would have a chance of delivering the broader 2050 climate targets, this does not mean that Europe has to give up its industrial base and its related competences. Several chapters of this book argue that the option of attaining a low-carbon economy through ‘deindustrialisation’ would prevent Europe from preserving its competitiveness and knowledge base, which are also essential for exploiting the potential of the emerging eco-industry. While decoupling economic growth from resource use is also possible with an industrial base that is more energy-and resource-efficient, this does require a fundamental shift in terms of how the economy is managed and how business decisions are made. Sustainable industrial and structural policies are needed also in order to ensure that this revolutionary process takes place in a socially balanced manner.
The Distributional Effects of Labour Market Deregulation
| Author | : Marco Amendola |
| Publisher | : |
| Total Pages | : 0 |
| Release | : 2023 |
| Genre | : |
| ISBN | : |
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Since the 1980s, most of the advanced economies have massively 'flexibilized' their labour markets by reducing protection against layoffs or introducing temporary and flexible contractual forms. Meanwhile, a stylized fact of economic theory has come undone, namely the stability of the wage share of income. Indeed, despite some criticism of possible measurement errors, there is a substantial consensus on the decreasing trends in the labour share. In this contribution, we empirically evaluate whether the two phenomena are causally linked, by investigating the impact of changes in the regulation of fixed-term contracts on functional distribution. Using Jorda's local projection method in a panel of 18 advanced countries in the period 1985-2019, we find that reforms that deregulate fixed-term contracts consistently reduce the wage share.
The Impact of Labour Market Deregulation
| Author | : C. Gorter |
| Publisher | : |
| Total Pages | : |
| Release | : 1999 |
| Genre | : |
| ISBN | : |
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