Dual Labour Markets after the Great Recession. Lessons from the Spanish 2012 Reform
|
|
|
- Maud Moody
- 5 years ago
- Views:
Transcription
1 Dual Labour Markets after the Great Recession. Lessons from the Spanish 2012 Reform Juan J. Dolado (EUI) The Spanish Economy Perspectives EUI-nomics, Florence, April 29 th 2016
2 Why are Dual LMs back in the policy agenda?
3 Spain: A bulimic LM (Huge JC followed by huge JD)
4 Long-lasting effects on Mismatch: Beveridge curve
5 Dilemma: LM flexibility or rigidity? Both in excess Volatility of HP-Cyclical Employment: Spainvs. US Q Q Q Q Q Q Q Q Q Spain USA
6 Spain as epitome of a dual LM (prior GR) EPL Gap betweenperms& temps Days of wages per year of service Years of service EPL gap= Sev. Pay (PC)+ Red Tape Costs -Sev. Pay (TC)
7 EPL gap (before GR) = 45 d.w.y.s (PC) + 60 d.w. (RTC)-8 d.w.y.s (TC) Alternative strategies o(apc) Hire 1 worker for 10 years under PC and then fire o(atc) Hire 10 workers 1 year each under PC EPL gap= 14.2 monthly wages NB :If wages were flexible (and workers were risk neutral) they could offset the transfer from employer to employee (steeper wage-tenure) Otherwise. Revolving door!!
8 Unemployment & Collective Bargaining decentralization Firm-level Industry/ province Nationwide
9 Revolving door: wasteful worker turnover!! JC(TC)> JC(PC) in Expansions, JD(TC)>JD(PC) in Recessions Conv.RateTC-PC % PCs in new hires Temp-to-perm conversion rate ( ) 2016 % Source: Encuesta de Coyuntura Laboral
10 Youth unemployment & NEETs
11 Scarring effects in Youth LM The dual labour market trap: Persistence % workers remaining in temporary jobs by entry cohort ( , Spain) Age Up to 20 y.o y.o y.o y.o.
12 Spain: Large shifts in employment relocation by sector
13 WagepressureandtheTCbufferstock Variación % coste salarial ordinario por trabajador/mes (TC) Tasas de temporalidad (1T 2008) Buffer effect: Bargained wage growth in vs. Share of temporary jobs in 2008 (regions)
14
15 EPL gap (Spain post GR) EPL Gap betweenperms& temps Days of wages per year of service EPL gap= 4.5 monthly wages (5yrs) = 8.0 monthly wages (10 yrs) Years of service
16
17
18 Real wage and employment growth
19 Outcomes pre-post Reform
20 GDP growth Trade (Exp & Imp) Employment & unemployment growth Unit labour costs
21 Successes o LM internal flexibility o Fostered adjustment through the two internal devaluation channels ( labour costs & labour force) o Less social resistance to LM reforms than in other countries (insiders at risk)
22 Failures (Groundhog Day time-loop syndrome) o Firing costs (recession) Job destruction ( ) o New contracts haven t taken off (high EPL gap) o Opt-outs <7% of firms unilaterally reduced wages (17% reduced working time) o Less economic dismissals than <2012 (higher red-tape costs) o Low representativeness of social agents in sector agreements: 17% (unions) and 27% (firms 5-49 workers) o Low coverage of UI: <55% of unemployed o Employment Activation Plan for LTU<15% of eligible workers
23 Inequality: Changes in Gini coefficient (earnings)
24 Designing a SOEC for Spain Risk aversion+ Young (liquidity constraints) & Older workers (annuities) + Unemployment insurance financed by payroll taxes
25 Decomposition of welfare gains
26 Job destruction Average wage -all workers
27 Political support 2012 LM reform Welfare gain: 0.86% vs. 1.68% (SOEC) Political support 65.4% vs %
28 Unified contract (Jobs Act in Italy) Red-tape costs? Court litigation? Combination of Severance Pay & Contribution Mutual Fund Combination of Severance Pay & Experience rating
29 Before/After the JOBS ACT 900, , , , , , , , , , ,000 January - March January - December Net change of permanent jobs 237, ,129 Net change of temporary jobs 92, ,344
30 Youth Guarantee: A Marshall Plan for Youth?
31 Firm size distribution could be a big obstacle
32 Thanks for your attention
EU Dual Labour Markets. Consequences and Potential Reforms (*)
EU Dual Labour Markets. Consequences and Potential Reforms (*) Juan J. Dolado (EUI) http://dolado.blogspot.com EEA-ESEM Geneva 2016 COEURE Session (*) Chapter 2 in Blundell, R. et al. (eds.) Economics
Reforming an insider-outsider labor market: the Spanish experience*
Reforming an insider-outsider labor market: the Spanish experience* Juan F. Jimeno Research Division, Banco de España 1st Aix-Marseille School of Economics-Banque de France Labor market Conference. 15
Labour market performances across the EU
Labour market performances across the EU Active labour market policies, what works Bruegel, Malta 27 April 2016 Alfonso Arpaia European Commission, DG Employment and Social Affairs Outline The overall
Pros. Universidad Pablo de Olavide and FEDEA, Spain. Keywords: single contract, permanent and temporary contracts, severance pay, dual labor markets
J. Ignacio García Pérez Universidad Pablo de Olavide and FEDEA, Spain Should severance pay be consistent for all workers? Single, open-ended contracts with severance pay smoothly rising with seniority
Unemployment in the Great Recession
Unemployment in the Great Recession Christopher A Pissarides London School of Economics The British Academy Keynes lecture 30 October 2012 1 Introductory remarks: Timings Great Recession started with a
How to combine the Entry of Young People in the Labour Market with the Retention of Older Workers Université de Genève, 13 Mars 2014
Tito Boeri How to combine the Entry of Young People in the Labour Market with the Retention of Older Workers Université de Genève, 13 Mars 2014 Outline The labor market for the young Young in/old out?
A welfare union? Conference, BEI Luxembourg Kirchberg 10 December Tito Boeri, Università Bocconi. Tito Boeri Luxembourg Kirchberg Déc.
A welfare union? Conference, BEI Luxembourg Kirchberg 10 December Tito Boeri, Università Bocconi Tito Boeri Luxembourg Kirchberg Déc. The stress test Great Depression and Great Recession Fonte: Eichengreen
Chapter 5 Part 1 Unemployment
Chapter 5 Part 1 Unemployment Objectives: Explain how we measure the unemployment rate and other labor market indicators Explain why unemployment occurs and why it is present even at full employment Explain
Generation Indebted Jobless
Generation Indebted Jobless Tito Boeri Fondazione RODOLFO DEBENEDETTI Università Bocconi A European Labor Market with Full Employment, More Income Security and Less Income Inequality in 2020 Bonn, IZA/VEF
No Union for the Young People
No Union for the Young People Tito Boeri Fondazione RODOLFO DEBENEDETTI Università Bocconi Conference on Growth and Employment in Europe Back to Mass Unemployment after a marked decline between 2005 and
Intergenerational bargaining in Italy: a case of policy failure? Lisa Rustico* and Roberto Pedersini Università degli Studi di Milano
Intergenerational bargaining in Italy: a case of policy failure? Lisa Rustico* and Roberto Pedersini Università degli Studi di Milano I Outline 1. Overview 2. Recent policy developments 3. Intergenerational
Youth Unemployment in the EU
Youth Unemployment in the EU Virginia Hernanz and Juan F. Jimeno Youth Unemployment in Europe: Recent Developments and Old Problems INTRODUCTION High and persistent unemployment has been a recurrent phenomenon
YOUTH UNEMPLOYMENT IN THE EURO AREA
YOUTH UNEMPLOYMENT IN THE EURO AREA Ramon Gomez-Salvador and Nadine Leiner-Killinger European Central Bank EKONOMSKI INSTITUT PRAVNE FAKULTETE 14 December 2007 Ljubljana Outline I. Introduction II. Stylised
1 Payroll Tax Legislation 2. 2 Severance Payments Legislation 3
Web Appendix Contents 1 Payroll Tax Legislation 2 2 Severance Payments Legislation 3 3 Difference-in-Difference Results 5 3.1 Senior Workers, 1997 Change............................... 5 3.2 Young Workers,
Should we reject the natural rate hypothesis?
Should we reject the natural rate hypothesis? December 2017 Haavelmo lecture Olivier Blanchard 12/6/2017 Peterson Institute for International Economics, MIT 1 50 years ago: The natural rate hypothesis
OECD Labour Markets in the Great Recession
OECD Labour Markets in the Great Recession Christopher A Pissarides London School of Economics The Economica Phillips lecture 9 February 2012 1 Introductory remarks: Timings Great Recession started with
LABOUR MARKET REFORMS IN PORTUGAL
Lisbon, 19 January 217 LABOUR MARKET REFORMS IN PORTUGAL 211-215 A PRELIMINARY ASSESSMENT OVERVIEW Background In October 215 the XIX Government of Portugal asked the OECD to evaluate the labour market
Labour Market security in between employment protection and social protection
Labour Market security in between employment protection and social protection Peter Auer, ILO Discussion points Job-,employment-, and labour market security Internal and external flexibility Worker and
Moving Towards a Single Labour Contract: Transition vs. Steady-State *
Moving Towards a Single Labour Contract: Transition vs. Steady-State * Juan J. Dolado Etienne Lalé Nawid Siassi February 2015 [In Progress Comments Welcome] Abstract This paper analyzes the optimal design
From Dual to Unified Employment Protection: Transition and Steady State
DISCUSSION PAPER SERIES IZA DP No. 9953 From Dual to Unified Employment Protection: Transition and Steady State Juan J. Dolado Etienne Lalé Nawid Siassi May 2016 Forschungsinstitut zur Zukunft der Arbeit
THE IMPACT OF THE EURO CRISIS ON WAGES AND COLLECTIVE BARGAINING IN SOUTHERN EUROPE ECONOMIES: SPAIN, PORTUGAL AND ITALY
THE IMPACT OF THE EURO CRISIS ON WAGES AND COLLECTIVE BARGAINING IN SOUTHERN EUROPE ECONOMIES: SPAIN, PORTUGAL AND ITALY FRANCISCO TRILLO PÁRRAGA ANTONIO BAYLOS GRAU M.ANTONIO GARCÍA-MUÑOZ CASTILLA-LA
The pre-crisis labour market outcome
1 Outline 1. The pre-crisis labour market background 2. Structural reforms just before and shortterm policy measures in response to the great recession 3. Labour market outcomes and tentative lessons 2
Macroeconomic Theory and Stabilization Policy. Multiple Choice Problems [Select the best alternative]
![Macroeconomic Theory and Stabilization Policy. Multiple Choice Problems [Select the best alternative]](/thumbs/77/75538231.jpg "Macroeconomic Theory and Stabilization Policy. Multiple Choice Problems [Select the best alternative]")
1 Macroeconomic Theory and Stabilization Policy Module 1: Introduction Multiple Choice Problems [Select the best alternative] 1. In stagflation potential output of the economy declines. the inflation rate
Generation Indebted Jobless
Generation Indebted Jobless Tito Boeri Fondazione RODOLFO DEBENEDETTI Università Bocconi Istanbul, May 9th, 2013 Outline A global rise but not uniform across the board Should we worry about it? The key
Labor Market Reforms in the Netherlands since the Great Recession
Labor Market Reforms in the Netherlands since the Great Recession Pierre Koning VU University Amsterdam and Ministry of Social Affairs and Employment of the Netherlands July 7 2015, Conseil d Orientation
Stability, Cohesion and Growth
Stability, Cohesion and Growth April 23, 2012 Swedish Minister for Finance Anders Borg Agenda Sweden has weathered the current crisis relatively well Lessons from the crisis in the early 1990s Further
Moving towards a Single Labour Contract: Transition vs. Steady State *
Moving towards a Single Labour Contract: Transition vs. Steady State * Juan J. Dolado European University Institute Etienne Lalé University of Bristol Nawid Siassi University of Konstanz This version:
SHORT-TERM EMPLOYMENT AND LABOUR MARKET OUTLOOK AND KEY CHALLENGES IN G20 COUNTRIES. A statistical update by ILO and OECD 1
SHORT-TERM EMPLOYMENT AND LABOUR MARKET OUTLOOK AND KEY CHALLENGES IN G2 COUNTRIES Introduction A statistical update by ILO and OECD 1 The objective of this note is two-fold: i) to review the most recent
European youth labour market in crisis: Does the deregulation of employment protection help?
European youth labour market in crisis: Does the deregulation of employment protection help? 3 rd European User Conference for EU-LFS and EU-SILC Mannheim, 21-22 March 213 Michael Gebel (University of
Reforming Employment Protection Legislation
Reforming Employment Protection Legislation Peer Review on Dismissal Law 2.0. How to promote work-to-work transitions and sustainable labour relations The Hague, 22 october 2015 Pieter van Winden Introduction
ECON 3010 Intermediate Macroeconomics Chapter 7
ECON 3010 Intermediate Macroeconomics Chapter 7 Unemployment Natural rate of unemployment Natural rate of unemployment: The average rate of unemployment around which the economy fluctuates. In a recession,
What has happened to inequality and poverty in post-apartheid South Africa. Dr Max Price Vice Chancellor University of Cape Town
What has happened to inequality and poverty in post-apartheid South Africa Dr Max Price Vice Chancellor University of Cape Town OUTLINE Examine trends post-apartheid (since 1994) Income inequality Overall,
EMPLOYABILITY AND LABOUR MARKET
EMPLOYABILITY AND LABOUR MARKET POLICIES Guillermo MONTT Division for Employment, Analysis and Policy Directorate for Employment, Labour and Social Affairs guillermo.montt@oecd.org July 3, 2014 Skill levels
Determinants of European and United States Unemployment
John Carroll University Carroll Collected Senior Honors Projects Theses, Essays, and Senior Honors Projects Spring 2014 Determinants of European and United States Unemployment Desiree Tercek dtercek14@jcu.edu
The intergenerational divide in Europe. Guntram Wolff
The intergenerational divide in Europe Guntram Wolff Outline An overview of key inequality developments The key drivers of intergenerational inequality Macroeconomic policy Orientation and composition
OECD Labour Markets in the Great Recession
Economica Phillips Lecture OECD Labour Markets in the Great Recession Professor Christopher Pissarides Norman Sosnow Chair in Economics, LSE Professor John Van Reenen Chair, LSE Suggested hashtag for Twitter
COVER NOTE The Employment Committee Permanent Representatives Committee (Part I) / Council EPSCO Employment Performance Monitor - Endorsement
COUNCIL OF THE EUROPEAN UNION Brussels, 15 June 2011 10666/1/11 REV 1 SOC 442 ECOFIN 288 EDUC 107 COVER NOTE from: to: Subject: The Employment Committee Permanent Representatives Committee (Part I) / Council
Wages, Productivity and the Paradoxes of Disappearing Mass Unemployment in Europe
Wages, Productivity and the Paradoxes of Disappearing Mass Unemployment in Europe Tito Boeri XXIII National Conference of Labour Economics Brescia 11-12 September 2008 1994 OECD Jobs Study The labour market
Youth & The UK Labour Market. March 15th. Jonathan Wadsworth. Royal Holloway College, CEP LSE, CREAM UCL, MAC and IZA Bonn
1 Youth & The UK Labour Market March 15th Jonathan Wadsworth Royal Holloway College, CEP LSE, CREAM UCL, MAC and IZA Bonn 2 Labour Market Performance of Young Adults Young people are typically always at
Employment and Unemployment
Employment and Unemployment What kind of job market will you enter when you graduate? The class of 2014 had a tough time: In July 2014, 10 million Americans wanted a job but couldn t find one and 8 more
Youth unemployment in times of severe economic crisis: The Greek case
Panos Tsakloglou Athens University of Economics and Business, Hellenic Observatory (LSE) and IZA (Bonn) Youth unemployment in times of severe economic crisis: The Greek case International Social Cohesion
Labor Market Update. Where we are today. December 3, 2010
Labor Market Update December 3, 1 Daniel Aaronson Vice President and Director of Microeconomic Research Research Department daaronson@frbchi.org 1 Where we are today Chicago Fed National Activity Index
On the Design of an European Unemployment Insurance Mechanism
On the Design of an European Unemployment Insurance Mechanism Árpád Ábrahám João Brogueira de Sousa Ramon Marimon Lukas Mayr European University Institute and Barcelona GSE - UPF, CEPR & NBER ADEMU Galatina
Flexicurity: Lessons for Spain
Flexicurity: Lessons for Spain Miguel A. Malo University of Salamanca HIGH-LEVEL SEMINAR ON LABOR MARKET EXPERIENCES: TOWARDS MORE EFFICIENT LABOR MARKETS (2010-05-11, Madrid). Flexibility and security
A-level ECONOMICS Unit 4 The National and International Economy
A-level ECONOMICS Unit 4 The National and International Economy Thursday 23 June 2016 Afternoon Time allowed: 2 hours Materials For this paper you must have: an AQA 12-page answer book a calculator. Instructions
Unemployment and the Labor Market
CHAPTER 7 Unemployment and the Labor Market Modified for ECON 2204 by Bob Murphy 2016 Worth Publishers, all rights reserved IN THIS CHAPTER, YOU WILL LEARN: about the natural rate of unemployment: what
Situation of labour markets in Europe
Situation of labour markets in Europe Paris, 28th May 13 Jean-François Lebrun European Commission - DG Employment, Social Affairs and Inclusion Labour market situation persistently deteriorating Employment
Labour Cost Adjustment in Estonia During and After the Crisis
Labour Cost Adjustment in Estonia During and After the Crisis Liina Malk Occasional Paper Series 1/2015 The Occasional Paper is available on the Eesti Pank web site at: http://www.eestipank.ee/en/publications
Investing for our Future Welfare. Peter Whiteford, ANU
Investing for our Future Welfare Peter Whiteford, ANU Investing for our future welfare Presentation to Jobs Australia National Conference, Canberra, 20 October 2016 Peter Whiteford, Crawford School of
What Happened to European Mass Unemployment? Willem F. Duisenberg Lecture. Tito Boeri Bocconi University 28/02/2008
What Happened to European Mass Unemployment? Willem F. Duisenberg Lecture Tito Boeri Bocconi University 28/02/2008 1994 OECD Jobs Study The labour market has become particularly worrying in Europe ( )
Open Seminar Tackling Child Poverty: Lessons from the UK and New Frontiers in Japan Doshisha University Kyoto January
Open Seminar Tackling Child Poverty: Lessons from the UK and New Frontiers in Japan Doshisha University Kyoto January 9 2012 Until 1945 financial needs of children not recognised by the state poor law,
ECONOMY IN THE LONG RUN. Chapter 6. Unemployment. October 23, Chapter 6: Unemployment. ECON204 (A01). Fall 2012
ECONOMY IN THE LONG RUN Chapter 6 Unemployment October 23, 2012 1 Topics in this Chapter Focus on the Long run unemployment rate Natural Rate of Unemployment contrast with cyclical behaviour of unemployment
The Labor Market Consequences of Adverse Financial Shocks
The Labor Market Consequences of Adverse Financial Shocks November 2012 Unemployment rate on the two sides of the Atlantic Credit to the private sector over GDP Credit to private sector as a percentage
Social security and retirement reform a progress report
Social security and retirement reform a progress report Andrew R Donaldson, National Treasury 2008 Pension Lawyers Association Conference 17 March 2008 Interdepartmental task team: work agenda Social assistance
Project implementation and Issues on Unemployment Protection and Technical and Vocational Education and Training in Latin America
Project implementation and Issues on Unemployment Protection and Technical and Vocational Education and Training in Latin America High-level Meeting on Implementing Reforms on Protection from Unemployment
FACES OF JOBLESSNESS IN PORTUGAL: UNDERSTANDING EMPLOYMENT BARRIERS TO INFORM POLICY
FACES OF JOBLESSNESS IN PORTUGAL: UNDERSTANDING EMPLOYMENT BARRIERS TO INFORM POLICY The European Pillar of Social Rights, Poverty Targets, and Barriers to Employment Lisbon, 16 March 2018 Herwig Immervoll
On the Design of an European Unemployment Insurance Mechanism
On the Design of an European Unemployment Insurance Mechanism Árpád Ábrahám João Brogueira de Sousa Ramon Marimon Lukas Mayr European University Institute Lisbon Conference on Structural Reforms, 6 July
Regional Tripartite Meeting on Wage Policies in the Arab Countries
Regional Tripartite Meeting on Wage Policies in the Arab Countries Amman 17-20 September 2012 Programme for Employers Activities International Training Centre of the ILO lempnet.itcilo.org Outline of the
The German Growth Model The role of manufacturing and industrial policy. Dr. Michael Dauderstädt Mexico, October 29, 2013
The German Growth Model The role of manufacturing and industrial policy Dr. Michael Dauderstädt Mexico, October 29, 2013 Overview Germany s economic policy Limited industrial policy The reforms of Agenda
Tackling the jobs crisis: An OECD perspective
Organisation for Economic Co-operation and Development OECD High-Level Parliamentary Seminar 18 February 2010 Tackling the jobs crisis: An OECD perspective Stefano Scarpetta Head of the Employment Analysis
Labour Market Challenges: Turkey
Labour Market Challenges: Turkey Conference Presentation «Boosting the social dimension in the Western Balkans and Turkey» Hakan Ercan Middle East Technical University, Ankara 31.01.2018 Belgrade 1 Growth
INDONESIA EMPLOYMENT POLICIES: PROBLEMS AND CHALLENGES
INDONESIA EMPLOYMENT POLICIES: PROBLEMS AND CHALLENGES Rahma Iryanti Deputy Minister for Poverty, Labor, and SMEs National Development Planning Agency 24 February 2015 BACKGROUND From 2005 to 2014, Indonesia
ILO World of Work Report 2013: EU Snapshot
Greece Spain Ireland Poland Belgium Portugal Eurozone France Slovenia EU-27 Cyprus Denmark Netherlands Italy Bulgaria Slovakia Romania Lithuania Latvia Czech Republic Estonia Finland United Kingdom Sweden
FINAL EXAMINATION VERSION B
William M. Boal Signature: Printed name: FINAL EXAMINATION VERSION B INSTRUCTIONS: This exam is closed-book, closed-notes. Simple calculators are permitted, but graphing calculators, calculators with alphabetical
MONITORING JOBS AND INFLATION
21 MONITORING JOBS AND INFLATION After studying this chapter, you will be able to: Explain why unemployment is a problem and define the unemployment rate and other labour market indicators Explain why
Macroeconomic TOPIC Measurements, Part I: Prices and Unemployment
1 Macroeconomic TOPIC Measurements, Part I: Prices and Unemployment Employment and Unemployment Population Survey In the U.S., the population is divided into two groups: The working-age population or civilian
Reducing Youth Unemployment and Dualism
MUTUAL LEARNING PROGRAMME: AUTUMN 2011 SEMINAR Reducing Youth Unemployment and Dualism Thematic Review Seminar on "The reduction of labour market segmentation: addressing the needs of young people" Brussels,
Youth unemployment, churn and stalled careers: The UK youth labour market in the 2008/9 recession
Youth unemployment, churn and stalled careers: The UK youth labour market in the 2008/9 recession Dr Neil Lee Department of Geography & Environment / Centre for the Analysis of Social Exclusion LSE n.d.lee@lse.ac.uk
Japan s Labor Market Challenges. Giovanni Ganelli, Deputy Head of Office IMF Regional Office for Asia and the Pacific Tokyo, January 2016
Japan s Labor Market Challenges Giovanni Ganelli, Deputy Head of Office IMF Regional Office for Asia and the Pacific Tokyo, January 2016 Overview Boosting the labor force Labor market duality and productivity
Cross-country risk-sharing in the EMU:
Cross-country risk-sharing in the EMU: Current mechanism and new proposals Cinzia Alcidi FIRSTRUN CONFERENCE Fiscal Rules, Stabilization and Risk-Sharing in the EMU Helsinki, 3 October, 2017 CEPS_thinktank
Is Social Security Secure with NDC?
Is Social Security Secure with NDC? Tito Boeri IGIER, FRdB, Università Bocconi and CEPR Vincenzo Galasso IGIER, Università Bocconi and CEPR NDC Systems: Progress and New Frontiers in a Changing Pension
Short-Term Labour Market Outlook and Key Challenges in G20 Countries
Cornell University ILR School DigitalCommons@ILR International Publications Key Workplace Documents 7- Short-Term Labour Market Outlook and Key Challenges in G Countries International Labour Office Organisation
Loraine Mulligan, Research Unit SIPTU Responding to the Unemployment Crisis is a Youth Guarantee part of the solution? 12/11/2012
Loraine Mulligan, Research Unit SIPTU Responding to the Unemployment Crisis is a Youth Guarantee part of the solution? 12/11/2012 Structure Youth Unemployment Measures to date Youth Guarantee Apprenticeships
Chapter 7. Employment protection
Chapter 7 Employment protection This chapter heavily borrows from courses and slides by Tito Boeri, Professor of Economics at Bocconi University, Milan, Italy Protecting jobs Losing a job is always a bad
The Outlook for Employment and Unemployment
The Outlook for Employment and Unemployment Rob Valletta* Federal Reserve Bank of San Francisco *The views expressed are solely my own and are in no way attributable to the Federal Reserve Bank of San
From Dual to Unified Employment Protection: Transition and Steady State
From Dual to Unified Employment Protection: Transition and Steady State Juan J. Dolado European University Institute Etienne Lalé University of Bristol Nawid Siassi University of Konstanz Abstract This
The Great Recession. Tito Boeri Panel Discussion EALE-SOLE Montreal, June
The Great Recession Tito Boeri Panel Discussion EALE-SOLE Montreal, June 26 2015 European Perspectives Heterogeneity in Unemployment Response: Institutions Size of Shocks Nature of shocks A stress test
MACROECONOMICS. N. Gregory Mankiw. Unemployment 8/15/2011. In this chapter, you will learn: Natural rate of unemployment.
Percent of labor force 0 1 0 U P D A T E S E V E N T H E D I T I O N /15/011 MACROECONOMICS N. Gregory Mankiw PowerPoint Slides by Ron Cronovich C H A P T E R In this chapter, you will learn: about the
Success is the sum of small efforts, repeated day in and day out. Robert Collier Test Yourself - Business Cycles and Unemployment
Success is the sum of small efforts, repeated day in and day out. Robert Collier Test Yourself - Business Cycles and Unemployment What is a business cycle? A business cycle is alternating periods of economic
CHAPTER 14 ECONOMIC INSTABILITY
CHAPTER 14 ECONOMIC INSTABILITY Business Cycles Economic growth is something that is beneficial to almost everyone Sometimes though, economic growth is interrupted by business cycles largely systematic
Pension Reforms and Inequality in a Nordic Welfare State
Pension Reforms and Inequality in a Nordic Welfare State Niku Määttänen Research Institute of the Finnish Economy (ETLA) and Aalto-university Seminar on Aging, Retirement and Pensions: Trends, Challenges
The European Commission Mutual Learning Programme. DG Employment, Social Affairs and Inclusion
The European Commission Mutual Learning Programme DG Employment, Social Affairs and Inclusion Learning exchange between Slovenia, Austria, The Netherlands and Spain on Tackling Labour Market Segmentation
BOX 1.3. Recent Developments in Emerging and Developing Country Labor Markets
BOX 1.3 Recent Developments in Emerging and Developing Country Labor Markets GLOBAL ECONOMIC PROSPECTS JUNE 215 chapter 1 3 BOX 1.3 Recent Developments in Emerging and Developing Country Labor Markets
4. What the paper actually states about the impact of labour market reforms is considerably more modest and nuanced than what the statement in
Introduction Update: Labour Market Deregulation Measures in IMF Loan Conditionality and Policy Advice for European Countries 17 April 2014 1. Most of the IMF loan programmes and policy advice for European
Discussion on Boeri and Jimeno. Gilles Saint-Paul
Discussion on Boeri and Jimeno Gilles Saint-Paul What is the topic of this paper? The main focus of this paper is the interplay between the fiscal crisis and labor market reform The general thrust of the
Labour Market Resilience
Labour Market Resilience In Malta Report published in the Quarterly Review 2013:1 LABOUR MARKET RESILIENCE IN MALTA 1 Labour market developments in Europe showed a substantial degree of cross-country heterogeneity
Labour Market Policies in Selected EU Member States: A Comparative and Impact Analysis
The omanian Economic Journal 151 Labour Market Policies in Selected EU Member States: A Comparative and Impact Analysis Liana Son 1 Graţiela Georgiana Carica 2 The purpose of the paper is to analyse the
6/16/2008. Unemployment. In this chapter, you will learn. Assumptions: Natural rate of unemployment. A first model of the natural rate
C H A P T E R Unemployment In this chapter, you will learn about the natural rate of unemployment: what it means what causes it understanding its behavior in the real world slide 1 Natural rate of unemployment
EC 205 Lecture 20 04/05/15
EC 205 Lecture 20 04/05/15 Remaining material till the end of the semester: Finish Chp 14 (1 subsection left) Open economy version of IS-LM (Chp 6.1&6.3+13) Chp 16 OR Dynamic macro models (As time permits)
Euro-Productivity and Euro-Jobs. Which Institutions Really Matter? since the 1960s: Gayle Allard (Instituto de Empresa, Madrid)
Euro-Productivity and Euro-Jobs since the 1960s: Which Institutions Really Matter? Gayle Allard (Instituto de Empresa, Madrid) and Peter Lindert (UC-Davis and NBER) Two police cases that should be one:!
The costs of internal devaluation in the EA
The costs of internal devaluation in the EA Engelbert Stockhammer Kingston University, UK. Dimitris P. Sotiropoulos The Open University Business School, UK. Presentation prepared for the 17th Conference
The labour market recovery is gaining momentum but large slack remains in a number of countries
The labour market recovery is gaining momentum but large slack remains in a number of countries Despite some recent progress, labour market slack remains sizeable in most of the countries hard hit by the
β? For what values of β will the solution
1 Class 4. Aggregate Supply 1) Consider the following aggregate demand and supply model: a) Aggregate demand: Y = F 2P (1) b) Aggregate supply: Y = Y + β ( P P) (2) c) Find out the equilibrium level of
The Labor Market Consequences of Adverse Financial Shocks
13TH JACQUES POLAK ANNUAL RESEARCH CONFERENCE NOVEMBER 8 9, 2012 The Labor Market Consequences of Adverse Financial Shocks Tito Boeri Bocconi University and frdb Pietro Garibaldi University of Torino and
OECD THEMATIC FOLLOW-UP REVIEW OF POLICIES TO IMPROVE LABOUR MARKET PROSPECTS FOR OLDER WORKERS. ITALY (situation early 2012)
OECD THEMATIC FOLLOW-UP REVIEW OF POLICIES TO IMPROVE LABOUR MARKET PROSPECTS FOR OLDER WORKERS ITALY (situation early 2012) In 2011, the employment rate for the population aged 50-64 in Italy was 5.9
Policy designs and structural reforms for inclusive growth the role of taxation"
2017-11-20 Policy designs and structural reforms for inclusive growth the role of taxation" Prof. Dr. Andreas Peichl DG ECFIN Annual Research Conference 2017: Fostering inclusive growth Brussels, 2017-11-20
Getting Europe to Work The Role of Flexibility in Tapping the Unused Potential in European Labour Markets
Getting Europe to Work The Role of Flexibility in Tapping the Unused Potential in European Labour Markets CEPS Working Document No. 25/September 26 Anna Turmann Abstract The Lisbon strategy of 2 sets the
The Labor Market Response to the Financial Crisis. Ryoichi Imai
The Labor Market Response to the Financial Crisis Ryoichi Imai 1 Impacts on Unemployment The Crisis 2008 had a even larger negative impacts on GDP of Japan and Germany than of USA. However, the rise in
Firm level evidence on wage dynamics in Europe
Firm level evidence on wage dynamics in Europe Ana Lamo European Central Bank* Bruegel 11Dec 2012 *Standar disclaimers apply 1 Outline of the presentation I. The main features of wage behavior at the firm
The Employment and Social Situation in the EU
The Employment and Social Situation in the EU Oslo, 8 April 2013 László ANDOR EU Commissioner for Employment, Social Affairs and Inclusion Unemployment rates in Europe and the US EU Euro area US Source: